CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Real estate investments
Property owned	$ 2,390,952	$ 2,271,170
Less accumulated depreciation	(465,752)	(443,592)
Total property owned	1,925,200	1,827,578
Mortgage loans receivable at fair value	0	43,276
Total real estate investments	1,925,200	1,870,854
Cash and cash equivalents	13,313	31,267
Restricted cash	2,409	7,358
Other assets	24,651	30,582
TOTAL ASSETS	1,965,573	1,940,061
LIABILITIES
Accounts payable and accrued expenses	50,360	62,403
Revolving lines of credit	46,000	76,000
Notes payable, net of unamortized loan costs of $641 and $656, respectively	299,359	299,344
Mortgages payable, net of unamortized loan costs of $3,648 and $3,187, respectively	521,536	480,703
TOTAL LIABILITIES	917,255	918,450
COMMITMENTS AND CONTINGENCIES (NOTE 10)
SERIES D PREFERRED UNITS (Cumulative convertible preferred units, $100 par value, 166 units issued and outstanding at March 31, 2022 and December 31, 2021, aggregate liquidation preference of $16,560)	22,412	25,331
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 March 31, 2022 and December 31, 2021, aggregate liquidation preference of $97,036)	93,530	93,530
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 15,366 shares issued and outstanding at March 31, 2022 and 15,016 shares issued and outstanding at December 31, 2021)	1,203,685	1,157,255
Accumulated distributions in excess of net income	(495,732)	(474,318)
Accumulated other comprehensive income (loss)	(2,550)	(4,435)
Total shareholders’ equity	798,933	772,032
Noncontrolling interests – Operating Partnership and Series E preferred units	226,302	223,600
Noncontrolling interests – consolidated real estate entities	671	648
Total equity	1,025,906	996,280
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY	$ 1,965,573	$ 1,940,061