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| 18 CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data) June 30, December 31, 2014 2013 ASSETS (Unaudited) (Audited) Investment properties: Land and improvements $ 51,694 $ 26,088 Building and improvements 372,097 193,184 Tenant improvements 5,505 5,458 Acquired lease intangibles 47,239 31,236 476,535 255,966 Accumulated depreciation (34,636 ) (28,427) Net real estate property 441,899 227,539 Real estate loan receivable 6,881 Investment in unconsolidated entity 1,298 Net real estate investments 450,078 227,539 Cash and cash equivalents 6,697 56,478 Tenant receivables, net 836 837 Deferred costs, net 3,025 2,105 Other assets 8,516 5,901 Total assets $ 469,152 $ 292,860 LIABILITIES AND EQUITY Liabilities: Credit facility $ $ Mortgage debt 78,963 42,821 Accounts payable 697 836 Dividend payable 8,728 5,681 Accrued expenses and other liabilities 4,241 2,288 Acquired lease intangibles, net 133 Derivative liability 325 397 Total liabilities 93,087 52,023 Equity: Common shares, $0.01 par value, 500,000,000 shares authorized, 34,288,126 and 21,548,597 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively. 343 215 Additional paid-in capital 360,908 213,359 Accumulated deficit (24,919 ) (8,670) 336,332 204,904 Noncontrolling interests: Operating partnership 39,059 35,310 Partially owned properties 674 623 Total noncontrolling interest 39,733 35,933 Total equity 376,065 240,837 Total liabilities and equity $ 469,152 $ 292,860 |