CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Operating real estate, net	$ 2,621,536	$ 2,551,448
Real estate under development, at cost	510,548	543,486
Net investments in real estate	3,132,084	3,094,934
Notes receivable, net	276,507	276,163
Investments in and advances to unconsolidated affiliates	260,497	272,028
Other assets, net	201,822	192,786
Cash and cash equivalents	47,707	71,805
Rents receivable, net	50,766	43,842
Restricted cash	24,021	22,904
Assets of properties held for sale	21,498	21,498
Total assets	4,014,902	3,995,960
LIABILITIES
Mortgage and other notes payable, net	1,143,049	1,055,728
Unsecured notes payable, net	358,847	432,990
Accounts payable and other liabilities	207,679	208,672
Capital lease obligations	70,247	70,129
Dividends and distributions payable	23,366	36,625
Distributions in excess of income from, and investments in, unconsolidated affiliates	15,221	13,691
Total liabilities	1,818,409	1,817,835
Commitments and contingencies
Acadia shareholders' Equity
Common shares, $0.001 par value, authorized 100,000,000 shares, issued and outstanding 83,630,051 and 83,597,741 shares, respectively	84	84
Additional paid-in capital	1,589,765	1,594,926
Accumulated other comprehensive income (loss)	438	(798)
Distributions in excess of accumulated earnings	(11,753)	(5,635)
Total Acadia shareholders’ equity	1,578,534	1,588,577
Noncontrolling interests	617,959	589,548
Total equity	2,196,493	2,178,125
Total liabilities and equity	$ 4,014,902	$ 3,995,960