CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investments:
Land	$ 121,496	$ 124,041
Buildings and improvements	1,236,605	1,262,335
Accumulated depreciation and amortization	(292,222)	(304,117)
Operating real estate property, net	1,065,879	1,082,259
Properties held-for-sale, net of accumulated depreciation: 2018—$23,223; 2017—$1,916	20,182	3,830
Real property investments, net	1,086,061	1,086,089
Mortgage loans receivable, net of loan loss reserve: 2018—$2,351; 2017—$2,255	233,383	223,907
Real estate investments, net	1,319,444	1,309,996
Notes receivable, net of loan loss reserve: 2018—$166; 2017—$166	16,402	16,402
Investment in unconsolidated joint ventures	30,289	29,898
Investments, net	1,366,135	1,356,296
Other assets:
Cash and cash equivalents	3,784	5,213
Debt issue costs related to bank borrowing	540	810
Interest receivable	16,456	15,050
Straight-line rent receivable, net of allowance for doubtful accounts: 2018—$726; 2017—$814	68,017	64,490
Lease incentives	21,321	21,481
Prepaid expenses and other assets	2,877	2,230
Total assets	1,479,130	1,465,570
LIABILITIES
Bank borrowings	120,500	96,500
Senior unsecured notes, net of debt issue costs: 2018—$1,079; 2017—$1,131	566,888	571,002
Accrued interest	4,114	5,276
Accrued incentives and earn-outs	9,041	8,916
Accrued expenses and other liabilities	21,724	25,228
Total liabilities	722,267	706,922
Stockholders' equity:
Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2018—39,629; 2017—39,570	396	396
Capital in excess of par value	857,426	856,992
Cumulative net income	1,121,142	1,100,783
Cumulative distributions	(1,225,589)	(1,203,011)
Total LTC Properties, Inc. stockholders’ equity	753,375	755,160
Non-controlling interests	3,488	3,488
Total equity	756,863	758,648
Total liabilities and equity	$ 1,479,130	$ 1,465,570