CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Real estate investments:
Land	$ 124,041	$ 116,096
Buildings and improvements	1,262,335	1,185,467
Accumulated depreciation and amortization	(304,117)	(275,861)
Operating real estate property, net	1,082,259	1,025,702
Properties held-for-sale, net of accumulated depreciation: 2017—$1,916; 2016—$0	3,830
Real property investments, net	1,086,089	1,025,702
Mortgage loans receivable, net of loan loss reserve: 2017—$2,255; 2016—$2,315	223,907	229,801
Real estate investments, net	1,309,996	1,255,503
Notes receivable, net of loan loss reserve: 2017—$166; 2016—$166	16,402	16,427
Investment in unconsolidated joint ventures	29,898	25,221
Investments, net	1,356,296	1,297,151
Other assets:
Cash and cash equivalents	5,213	7,991
Debt issue costs related to bank borrowing	810	1,847
Interest receivable	15,050	9,683
Straight-line rent receivable, net of allowance for doubtful accounts: 2017—$814; 2016—$960	64,490	55,276
Prepaid expenses and other assets	23,711	22,948
Total assets	1,465,570	1,394,896
LIABILITIES
Bank borrowings	96,500	107,100
Senior unsecured notes, net of debt issue costs: 2017—$1,131; 2016—$1,009	571,002	502,291
Accrued interest	5,276	4,675
Accrued incentives and earn-outs	8,916	12,229
Accrued expenses and other liabilities	25,228	28,553
Total liabilities	706,922	654,848
Stockholders' equity:
Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2017—39,570; 2016—39,221	396	392
Capital in excess of par value	856,992	839,005
Cumulative net income	1,100,783	1,013,443
Cumulative distributions	(1,203,011)	(1,112,792)
Accumulated other comprehensive income	0	0
Total LTC Properties, Inc. stockholders’ equity	755,160	740,048
Non-controlling interests	3,488
Total equity	758,648	740,048
Total liabilities and equity	$ 1,465,570	$ 1,394,896