Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 99,389 $ 167,692
Restricted cash 4,176 5,178
Accounts receivable, net 9,209 8,780
Real estate assets, held-for-sale, net 158,602 2,000
Real estate securities, available-for-sale 3,202 2,294
Other current assets 26,257 21,568
Total current assets 300,835 207,512
Restricted cash, noncurrent 1,012 818
Property and equipment, net of accumulated depreciation 101,582 241,258
Intangibles, net of accumulated amortization 50,121 57,276
Other investments 22,265 21,135
Other assets 10,950 8,649
Total assets 486,765 536,648
Current liabilities    
Credit facilities and obligations under capital leases 106,377 4,652
Membership deposit liabilities 8,863 8,733
Accounts payable and accrued expenses 40,487 36,797
Deferred revenue 6,880 31,207
Real estate liabilities, held-for-sale 5,147 0
Other current liabilities 14,646 22,596
Total current liabilities 182,400 103,985
Credit facilities and obligations under capital leases - noncurrent 11,582 112,105
Junior subordinated notes payable 51,202 51,208
Membership deposit liabilities, noncurrent 89,549 86,523
Deferred revenue, noncurrent 7,817 6,930
Other liabilities 5,247 4,846
Total liabilities 347,797 365,597
Commitments and contingencies
Equity    
Preferred stock, $0.01 par value, 100,000,000 shares authorized, 1,347,321 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, 496,000 shares of 8.05% Series C Cumulative Redeemable Preferred Stock, and 620,000 shares of 8.375% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, issued and outstanding as of September 30, 2018 and December 31, 2017 61,583 61,583
Common stock, $0.01 par value, 1,000,000,000 shares authorized, 67,027,104 and 66,977,104 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 670 670
Additional paid-in capital 3,174,948 3,173,281
Accumulated deficit (3,100,404) (3,065,853)
Accumulated other comprehensive income 2,171 1,370
Total equity 138,968 171,051
Total liabilities and equity $ 486,765 $ 536,648