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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Real estate investments    
Property owned $ 2,203,606 $ 1,812,557
Less accumulated depreciation (426,926) (399,249)
Total property owned 1,776,680 1,413,308
Mortgage loans receivable at fair value 42,160 24,661
Total real estate investments 1,818,840 1,437,969
Cash and cash equivalents 20,816 392
Restricted cash 2,376 6,918
Other assets 34,919 18,904
TOTAL ASSETS 1,876,951 1,464,183
LIABILITIES    
Accounts payable and accrued expenses 58,092 55,609
Revolving lines of credit 57,000 152,871
Notes payable, net of unamortized loan costs of $546 and $754 respectively 299,454 269,246
Mortgages payable, net of unamortized loan costs of $3,258 and $1,371, respectively 489,140 297,074
TOTAL LIABILITIES 903,686 774,800
COMMITMENTS AND CONTINGENCIES (NOTE 10)
EQUITY    
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 14,281 shares issued and outstanding at September 30, 2021 and 13,027 shares issued and outstanding at December 31, 2020) 1,092,130 968,263
Accumulated distributions in excess of net income (454,691) (427,681)
Accumulated other comprehensive income (loss) (5,784) (15,905)
Total shareholders’ equity 725,185 618,207
Noncontrolling interests – Operating Partnership and Series E preferred units 225,850 53,930
Noncontrolling interests – consolidated real estate entities 645 686
Total equity 951,680 672,823
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY 1,876,951 1,464,183
Series D Preferred Units    
LIABILITIES    
SERIES D PREFERRED UNITS (Cumulative convertible preferred units, $100 par value, 166 units issued and outstanding at September 30, 2021 and December 31, 2020, aggregate liquidation preference of $16,560) 21,585 16,560
Series C Preferred Shares Of Beneficial Interest    
EQUITY    
Series C Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, $25 per share liquidation preference, 3,881 shares issued and outstanding at September 30, 2021 and December 31, 2020, aggregate liquidation preference of $97,036) $ 93,530 $ 93,530