CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Apr. 30, 2018
Real estate investments
Property owned	$ 1,643,078	$ 1,627,636	$ 1,669,764
Less accumulated depreciation	(349,122)	(353,871)	(311,324)
Total property owned	1,293,956	1,273,765	1,358,440
Unimproved land	1,376	5,301	11,476
Mortgage loans receivable	16,140	10,410	10,329
Total real estate investments	1,311,472	1,289,476	1,380,245
Cash and cash equivalents	26,579	13,792	11,891
Restricted cash	19,538	5,464	4,225
Other assets	34,829	27,265	30,297
TOTAL ASSETS	1,392,418	1,335,997	1,426,658
LIABILITIES
Accounts payable and accrued expenses	47,155	40,892	29,018
Revolving lines of credit	50,079	57,500	124,000
Notes payable, net of unamortized loan costs of $942, $1,009 and $486, respectively	269,058	143,991	69,514
Mortgages payable, net of unamortized loan costs of $1,712, $1,777 and $2,221, respectively	329,664	444,197	509,919
TOTAL LIABILITIES	695,956	686,580	732,451
COMMITMENTS AND CONTINGENCIES (NOTE 14)
REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES	0	5,968	6,644
SERIES D PREFERRED UNITS (Cumulative convertible preferred units, $100 par value, 165,600 units issued and outstanding at December 31, 2019 and no units issued and outstanding at December 31, 2018 and April 30, 2018, aggregate liquidation preference of $16,560,000)	16,560	0	0
EQUITY
Series C Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, 4,118,460 shares issued and outstanding at December 31, 2019, December 31, 2018, and April 30, 2018, aggregate liquidation preference of $102,971,475)	99,456	99,456	99,456
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 12,098,379 shares issued and outstanding at December 31, 2019, 11,942,372 shares issued and outstanding at December 31, 2018, and 11,952,598 shares issued and outstanding at April 30, 2018)	917,400	899,234	900,097
Accumulated distributions in excess of net income	(390,196)	(429,048)	(395,669)
Accumulated other comprehensive income (loss)	(7,607)	(856)	1,779
Total shareholders’ equity	619,053	568,786	605,663
Noncontrolling interests – Operating Partnership (1,058,142 units at December 31, 2019, 1,367,502 units at December 31, 2018, and 1,409,943 units at April 30, 2018)	55,284	67,916	73,012
Noncontrolling interests – consolidated real estate entities	5,565	6,747	8,888
Total equity	679,902	643,449	687,563
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY	$ 1,392,418	$ 1,335,997	$ 1,426,658