CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Operating real estate, net	$ 3,288,377	$ 3,160,851
Real estate under development	250,278	120,297
Net investments in real estate	3,538,655	3,281,148
Notes receivable, net	94,807	109,613
Investments in and advances to unconsolidated affiliates	372,478	262,410
Other assets, net	200,588	208,570
Cash and cash equivalents	48,140	21,268
Restricted cash	12,867	13,580
Rents receivable	59,071	62,191
Assets of properties held for sale	2,939
Total assets	4,329,545	3,958,780
LIABILITIES
Mortgage and other notes payable, net	1,029,678	1,017,288
Unsecured notes payable, net	625,677	533,257
Accounts payable and other liabilities	403,297	286,072
Dividends and distributions payable	26,017	24,593
Distributions in excess of income from, and investments in, unconsolidated affiliates	15,353	15,623
Total liabilities	2,100,022	1,876,833
Commitments and contingencies
Acadia Shareholders' Equity
Common shares, $0.001 par value, authorized 200,000,000 shares, issued and outstanding 86,644,196 and 81,557,472 shares, respectively	87	82
Additional paid-in capital	1,692,659	1,548,603
Accumulated other comprehensive (loss) income	(44,138)	516
Distributions in excess of accumulated earnings	(129,026)	(89,696)
Total Acadia shareholders’ equity	1,519,582	1,459,505
Noncontrolling interests	709,941	622,442
Total equity	2,229,523	2,081,947
Total liabilities and equity	$ 4,329,545	$ 3,958,780