CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Investment in real estate, net	$ 690,113	$ 551,653
Investment in unconsolidated joint ventures	52,027	37,965
Cash and cash equivalents	70,162	106,794
Investments - debt securities	88,956	48,051
Other assets	70,235	65,866
Property and equipment, net	31,145	20,846
Investments held by special purpose entities	205,513	206,149
Total assets	1,208,151	1,037,324
Liabilities:
Debt, net	223,034	158,915
Other liabilities	104,192	72,035
Deferred tax liabilities, net	77,259	60,915
Senior Notes held by special purpose entity	177,566	177,289
Total liabilities	582,051	469,154
Commitments and contingencies (Note 20)
Equity:
Common stock, no par value; 180,000,000 shares authorized; 58,882,549 issued and outstanding at December 31, 2021 and December 31, 2020	296,873	296,873
Retained earnings	310,925	255,216
Accumulated other comprehensive loss	(389)	(1,472)
Total stockholders' equity	607,409	550,617
Non-controlling interest	18,691	17,553
Total equity	626,100	568,170
Total liabilities and equity	1,208,151	1,037,324
Variable Interest Entity, Primary Beneficiary
ASSETS
Investment in real estate, net	206,565	170,853
Cash and cash equivalents	10,564	2,639
Other assets	17,392	13,821
Investments held by special purpose entities	205,513	206,149
Total assets	440,034	393,462
Liabilities:
Debt, net	173,531	139,592
Other liabilities	17,836	9,596
Senior Notes held by special purpose entity	177,566	177,289
Total liabilities	$ 368,933	$ 326,477