Restricted cash includes cash deposited with a like-kind exchange (“LKE”) intermediary and cash held in escrow. In order to qualify for LKE treatment, the proceeds from real estate sales must be deposited with a third-party intermediary. These proceeds are accounted for as restricted cash until a suitable replacement property is acquired. In the event LKE purchases are not completed, the proceeds are returned to the Company after 180 days and reclassified as available cash. Additionally, restricted cash includes cash balances held in escrow as collateral for certain contractual obligations related to our Heartwood development project as well as cash held in escrow for real estate sales.

The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Consolidated Balance Sheets that sum to the total of the same such amounts in the Consolidated Statements of Cash Flows:


	June 30,	December 31,	June 30,
	2026	2025	2025




Restricted cash, non-current:
Restricted cash held in escrow	$495	$495	$677
Restricted cash deposited with LKE intermediary	10,010	—	—
Total restricted cash, non-current	10,505	495	677








Total restricted cash shown in the Consolidated Balance Sheets	10,505	495	677
Cash and cash equivalents	411,760	842,944	892,256
Total cash, cash equivalents and restricted cash from continuing operations shown in the Consolidated Statements of Cash Flows	$422,265	$843,439	$892,933