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| 2021 Third Quarter Investor Presentation 28 $ thousands, except share and per share data September 30, 2021 December 31, 2020 Assets (unaudited) (audited) Investments: Real estate investments: Land and improvements $ 3,025,429 $ 2,807,153 Buildings and improvements 6,565,092 6,059,513 Intangible lease assets 54,971 61,634 Total real estate investments 9,645,492 8,928,300 Less accumulated depreciation and amortization (1,098,560)(939,591) 8,546,932 7,988,709 Real estate investments held for sale, net 26,553 22,304 Operating ground lease assets 33,653 34,683 Loans and financing receivables, net 649,414 650,321 Net investments 9,256,552 8,696,071 Cash and cash equivalents 37,018 166,381 Other assets, net 131,428 131,747 Total assets $ 9,424,998 $ 9,004,340 Liabilities and stockholders' equity Liabilities: Credit facility $ 109,000 $ - Unsecured notes and term loans payable, net 1,411,239 1,509,612 Non-recourse debt obligations of consolidated special purpose entities, net 2,517,136 2,212,634 Dividends payable 104,801 95,801 Operating lease liabilities 38,499 39,317 Accrued expenses, deferred revenue and other liabilities 131,931 131,198 Total liabilities 4,312,606 3,988,562 Stockholders' equity: Common stock, $0.01 par value per share, 375,000,000 shares authorized, 272,211,360 and 266,112,676 shares issued and outstanding, respectively 2,722 2,661 Capital in excess of par value 5,682,456 5,475,889 Distributions in excess of retained earnings (570,560)(459,977) Accumulated other comprehensive loss (2,226 )(2,795) Total stockholders' equity 5,112,392 5,015,778 Total liabilities and stockholders' equity $ 9,424,998 $ 9,004,340 Condensed Consolidated Balance Sheets |