Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
ASSETS    
Investments in real estate, net $ 497,068 $ 449,486
Lease intangibles, net 5,829 5,492
Cash and cash equivalents 2,929 2,938
Crop inventory 0 1,528
Other assets, net 4,070 2,834
TOTAL ASSETS 509,896 462,278
LIABILITIES:    
Borrowings under lines of credit 100 10,000
Mortgage notes and bonds payable, net 316,142 291,002
Series A cumulative term preferred stock, $0.001 par value; $25.00 per share liquidation preference; 2,000,000 shares authorized, 1,150,000 shares issued and outstanding as of September 30, 2018, and December 31, 2017, net 28,066 27,890
Accounts payable and accrued expenses 6,400 7,398
Due to related parties, net 1,024 940
Other liabilities, net 10,964 7,097
Total liabilities 362,696 344,327
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Series B cumulative redeemable preferred stock, $0.001 par value; $25.00 per share liquidation preference; 6,500,000 shares authorized, 393,048 shares issued and outstanding as of September 30, 2018; no shares authorized, issued, or outstanding as December 31, 2017 0 0
Common stock, $0.001 par value; 91,500,000 shares authorized, 16,070,616 shares issued and outstanding as of September 30, 2018; 98,000,000 shares authorized, 13,791,574 shares issued and outstanding as of December 31, 2017 16 14
Additional paid-in capital 163,943 129,705
Distributions in excess of accumulated earnings (22,305) (19,802)
Total stockholders’ equity 141,654 109,917
Non-controlling interests in Operating Partnership 5,546 8,034
Total equity 147,200 117,951
TOTAL LIABILITIES AND EQUITY $ 509,896 $ 462,278