as of december 31 , 2019 , our owned education real estate portfolio consisted of approximately 1.9 million square feet , was 100 % leased and included $ 3.5 million in undeveloped land inventory . the combined owned portfolio consisted of 21.1 million square feet and was 99.1 % leased . operating results our total revenue from continuing operations , net income available to common shareholders per diluted share and ffoaa per diluted share ( a non-gaap financial measure ) are detailed below for the years ended december 31 , 2019 and 2018 ( in millions , except per share information ) : replace_table_token_7_th the major factors impacting our results for the year ended december 31 , 2019 , as compared to the year ended december 31 , 2018 were as follows : the effect of investment spending that occurred in 2019 and 2018 ; the increase in lease revenue and property operating expenses related to our existing ground leases ( leases in which we are a sub-lessor and lessee ) and the gross-up of the tenant reimbursed expenses recognized in accordance with accounting standards update ( `` asu `` ) no . 2016-02 leases ( `` topic 842 `` ) . for further information on our operating leases and the adoption of topic 842 , see note 16 to the consolidated financial statements included in this annual report on form 10-k ; the increase in other income and other expenses primarily from the operations of the kartrite resort and indoor waterpark in sullivan county , new york ( the `` kartrite resort `` ) ; property dispositions and mortgage note payoffs that occurred in 2019 and 2018 , including $ 71.3 million in prepayment fees received in the year ended december 31 , 2018 , from the payoff of two mortgage notes ; the increase in costs associated with loan refinancing or payoff and the increase in transaction costs ; the increase in termination fees included in gain on sale related to the sale of education properties as well as additional gains on sales of real estate ; and the increase in common shares outstanding as a result of new issuances . 34 for further detail on items impacting our operating results , see section below titled `` results of operations `` . ffoaa is a non-gaap financial measure . for the definitions and further details on the calculations of ffoaa and certain other non-gaap financial measures , see section below titled `` non-gaap financial measures . `` investment spending and disposition overview our total investment spending for 2019 was $ 794.7 million compared to $ 572.0 million in 2018 and consistent with our focus on experiential properties , over 93 % of our investment spending for 2019 was on experiential investments . during 2019 , we also received disposition proceeds and mortgage note pay-offs ( excluding principal amortization and including prepayment fees ) of $ 882.9 million compared to $ 471.1 million in the prior year . the disposition of our remaining public charter school portfolio combined with the repayment at maturity of mortgage notes secured by three attraction properties accounted for over 96 % of these proceeds . while there can be no assurance , we expect that in 2020 our investment spending will increase and our dispositions will decrease from the levels in 2019 as we continue to seek new opportunities to deploy capital in the experiential sector . critical accounting policies the preparation of financial statements in conformity with accounting principles generally accepted in the united states ( “ gaap ” ) requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and related notes . in preparing these financial statements , management has made its best estimates and assumptions that affect the reported assets and liabilities and the reported amounts of revenues and expenses during the reporting periods . the most significant assumptions and estimates relate to the valuation of real estate , accounting for real estate acquisitions , assessing the collectibility of receivables and the impairment of mortgage and other notes receivable . application of these assumptions requires the exercise of judgment as to future uncertainties and , as a result , actual results could differ from these estimates . impairment of real estate values we are required to make subjective assessments as to whether there are impairments in the value of our real estate investments . these estimates of impairment may have a direct impact on our consolidated financial statements . we assess the carrying value of our real estate investments whenever events or changes in circumstances indicate that the carrying amount of a property may not be recoverable . certain factors may indicate that impairments exist which include , but are not limited to , under-performance relative to projected future operating results , tenant difficulties and significant adverse industry or market economic trends . if an indicator of possible impairment exists , the property is evaluated for impairment by comparing the carrying amount of the property to the estimated future cash flows ( undiscounted and without interest charges ) , including the residual value of the real estate . if an impairment is indicated , a loss will be recorded for the amount by which the carrying value of the asset exceeds its estimated fair value . estimating future cash flows is highly subjective and such estimates could differ materially from actual results . real estate acquisitions upon acquisition of real estate properties , we evaluate the acquisition to determine if it is a business combination or an asset acquisition . if the acquisition is determined to be an asset acquisition , we record the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis . story_separator_special_tag 41 year ended december 31 , 2018 compared to year ended december 31 , 2017 analysis of revenue the following table summarizes our total revenue ( dollars in thousands ) : replace_table_token_11_th ( 1 ) for the year ended december 31 , 2018 compared to the year ended december 31 , 2017 , the increase in minimum rent resulted from $ 55.3 million of rental revenue related to property acquisitions and developments completed in 2018 and 2017 and conversion of certain mortgage notes to rental properties , an increase of $ 4.8 million in rental revenue on existing properties and an increase in rental revenue of $ 3.5 million related to cla . these increases were partially offset by a decrease of $ 5.4 million from property dispositions not included in discontinued operations . during the year ended december 31 , 2018 , we renewed four lease agreements on approximately 241 thousand square feet and funded or agreed to fund an average of $ 29.07 per square foot in tenant improvements . we experienced a decrease of approximately 1.7 % in rental rates and paid no leasing commissions with respect to these lease renewals . ( 2 ) the increase in straight-line rent in 2018 related to property acquisitions and developments completed in 2018 and 2017 as well as straight-line write-offs recognized during the year ended december 31 , 2017 . ( 3 ) the increase in mortgage and other financing income was primarily due to prepayment fees received in connection with partial prepayments on two non-education mortgage notes during the year ended december 31 , 2018 totaling $ 71.3 million . these increases were partially offset by the conversion of a mortgage note secured by 28 early childhood education center properties to leased properties during the year ended december 31 , 2018 , other note payoffs during 2018 and 2017 , as well as the sale of four public charter school properties classified as direct financing leases . 42 analysis of expenses and other line items the following table summarizes our expenses and other line items ( dollars in thousands ) : replace_table_token_12_th ( 1 ) the increase in general and administrative expense for the year ended december 31 , 2018 compared to year ended december 31 , 2017 was primarily due to an increase in payroll and benefits costs , including share-based compensation , as well as an increase in professional fees , shareholder and marketing expenses , franchise taxes and insurance costs . ( 2 ) severance expense for the year ended december 31 , 2018 related to the termination of the amended and restated employment agreement for our former senior vice president and chief investment officer as well as another employee . see note 14 to the consolidated financial statements included in this annual report on form 10-k for further detail . there was no severance expense for the year ended december 31 , 2017 . ( 3 ) costs associated with loan refinancing or payoff for the year ended december 31 , 2018 related to the redemption of the 7.75 % senior notes due 2020. costs associated with loan refinancing or payoff for the year ended december 31 , 2017 related primarily to the amendment of our unsecured credit facility and term loan , and the prepayment of secured fixed rate mortgage notes payable . ( 4 ) impairment charges recognized during the year ended december 31 , 2018 related to two partially completed early childhood education centers and two land parcels with site improvements , as well as an impairment charge related to two guarantees of the payment of certain economic development revenue bonds secured by leasehold interest and improvements at two theatres in louisiana . see note 4 to the consolidated financial statements included in this annual report on form 10-k for further information on these impairment charges . impairment charges for the year ended december 31 , 2017 related to two public charter school properties previously included in our investment in direct financing leases . see note 7 to the consolidated financial statements included in this annual report on form 10-k. ( 5 ) the increase in depreciation and amortization expense resulted primarily from acquisitions and developments completed in 2017 and 2018 and was partially offset by property dispositions that occurred during 2017 and 2018 . 43 ( 6 ) the gain on sale of real estate for the year ended december 31 , 2018 related to the sale of four properties and the exercise of a tenant purchase option on a public charter school property . the gain on sale of real estate for the year ended december 31 , 2017 related to the sale of seven properties and the exercise of eight tenant purchase options on public charter school properties . ( 7 ) gain on sale of investment in direct financing leases year ended december 31 , 2018 related to the sale of four public charter school properties leased to imagine . for further detail , see note 7 to the consolidated financial statements included in this annual report on form 10-k. ( 8 ) impairment charges from discontinued operations for the year ended december 31 , 2017 related to five properties that were previously included in our investment in direct financing leases and leased to imagine . these properties were sold as part of the public charter school portfolio sale on november 22 , 2019. for further detail , see note 7 to the consolidated financial statements included in this annual report on form 10-k. ( 9 ) preferred share redemption costs for the year ended december 31 , 2017 were due to the redemption of all of our 6.625 % series f cumulative redeemable preferred shares on december 21 , 2017. these costs consisted of the original issuance costs and other redemption related expenses . liquidity and capital resources story_separator_special_tag 2019 , we filed a shelf registration statement with the sec , which is effective for a

cash and cash equivalents were $ 528.8 million at december 31 , 2019 . in addition , we had restricted cash of $ 2.7 million at december 31 , 2019 . of the restricted cash at december 31 , 2019 , $ 1.3 million related to cash held for our borrowers ' debt service reserves for mortgage notes receivable or tenants ' off-season rent reserves and $ 1.4 million related to escrow deposits held related to potential acquisitions and redevelopments . mortgage debt , senior notes , unsecured revolving credit facility and unsecured term loan facility as of december 31 , 2019 , we had total debt outstanding of $ 3.1 billion of which 99 % was unsecured . at december 31 , 2019 , we had outstanding $ 2.4 billion in aggregate principal amount of unsecured senior notes ( excluding the private placement notes discussed below ) ranging in interest rates from 3.75 % to 5.25 % . the notes contain various covenants , including : ( i ) a limitation on incurrence of any debt that would cause the ratio of our debt to adjusted total assets to exceed 60 % ; ( ii ) a limitation on incurrence of any secured debt which would cause the ratio of secured debt to adjusted total assets to exceed 40 % ; ( iii ) a limitation on incurrence of any debt which would cause our debt service coverage ratio to be less than 1.5 times ; and ( iv ) the maintenance at all times of our total unencumbered assets such that they are not less than 150 % ofour outstanding unsecured debt .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash and cash equivalents were $ 528.8 million at december 31 , 2019 . in addition , we had restricted cash of $ 2.7 million at december 31 , 2019 . of the restricted cash at december 31 , 2019 , $ 1.3 million related to cash held for our borrowers ' debt service reserves for mortgage notes receivable or tenants ' off-season rent reserves and $ 1.4 million related to escrow deposits held related to potential acquisitions and redevelopments . mortgage debt , senior notes , unsecured revolving credit facility and unsecured term loan facility as of december 31 , 2019 , we had total debt outstanding of $ 3.1 billion of which 99 % was unsecured . at december 31 , 2019 , we had outstanding $ 2.4 billion in aggregate principal amount of unsecured senior notes ( excluding the private placement notes discussed below ) ranging in interest rates from 3.75 % to 5.25 % . the notes contain various covenants , including : ( i ) a limitation on incurrence of any debt that would cause the ratio of our debt to adjusted total assets to exceed 60 % ; ( ii ) a limitation on incurrence of any secured debt which would cause the ratio of secured debt to adjusted total assets to exceed 40 % ; ( iii ) a limitation on incurrence of any debt which would cause our debt service coverage ratio to be less than 1.5 times ; and ( iv ) the maintenance at all times of our total unencumbered assets such that they are not less than 150 % ofour outstanding unsecured debt .
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 Suspicious Activity Report : as of december 31 , 2019 , our owned education real estate portfolio consisted of approximately 1.9 million square feet , was 100 % leased and included $ 3.5 million in undeveloped land inventory . the combined owned portfolio consisted of 21.1 million square feet and was 99.1 % leased . operating results our total revenue from continuing operations , net income available to common shareholders per diluted share and ffoaa per diluted share ( a non-gaap financial measure ) are detailed below for the years ended december 31 , 2019 and 2018 ( in millions , except per share information ) : replace_table_token_7_th the major factors impacting our results for the year ended december 31 , 2019 , as compared to the year ended december 31 , 2018 were as follows : the effect of investment spending that occurred in 2019 and 2018 ; the increase in lease revenue and property operating expenses related to our existing ground leases ( leases in which we are a sub-lessor and lessee ) and the gross-up of the tenant reimbursed expenses recognized in accordance with accounting standards update ( `` asu `` ) no . 2016-02 leases ( `` topic 842 `` ) . for further information on our operating leases and the adoption of topic 842 , see note 16 to the consolidated financial statements included in this annual report on form 10-k ; the increase in other income and other expenses primarily from the operations of the kartrite resort and indoor waterpark in sullivan county , new york ( the `` kartrite resort `` ) ; property dispositions and mortgage note payoffs that occurred in 2019 and 2018 , including $ 71.3 million in prepayment fees received in the year ended december 31 , 2018 , from the payoff of two mortgage notes ; the increase in costs associated with loan refinancing or payoff and the increase in transaction costs ; the increase in termination fees included in gain on sale related to the sale of education properties as well as additional gains on sales of real estate ; and the increase in common shares outstanding as a result of new issuances . 34 for further detail on items impacting our operating results , see section below titled `` results of operations `` . ffoaa is a non-gaap financial measure . for the definitions and further details on the calculations of ffoaa and certain other non-gaap financial measures , see section below titled `` non-gaap financial measures . `` investment spending and disposition overview our total investment spending for 2019 was $ 794.7 million compared to $ 572.0 million in 2018 and consistent with our focus on experiential properties , over 93 % of our investment spending for 2019 was on experiential investments . during 2019 , we also received disposition proceeds and mortgage note pay-offs ( excluding principal amortization and including prepayment fees ) of $ 882.9 million compared to $ 471.1 million in the prior year . the disposition of our remaining public charter school portfolio combined with the repayment at maturity of mortgage notes secured by three attraction properties accounted for over 96 % of these proceeds . while there can be no assurance , we expect that in 2020 our investment spending will increase and our dispositions will decrease from the levels in 2019 as we continue to seek new opportunities to deploy capital in the experiential sector . critical accounting policies the preparation of financial statements in conformity with accounting principles generally accepted in the united states ( “ gaap ” ) requires management to make estimates and assumptions in certain circumstances that affect amounts reported in the accompanying consolidated financial statements and related notes . in preparing these financial statements , management has made its best estimates and assumptions that affect the reported assets and liabilities and the reported amounts of revenues and expenses during the reporting periods . the most significant assumptions and estimates relate to the valuation of real estate , accounting for real estate acquisitions , assessing the collectibility of receivables and the impairment of mortgage and other notes receivable . application of these assumptions requires the exercise of judgment as to future uncertainties and , as a result , actual results could differ from these estimates . impairment of real estate values we are required to make subjective assessments as to whether there are impairments in the value of our real estate investments . these estimates of impairment may have a direct impact on our consolidated financial statements . we assess the carrying value of our real estate investments whenever events or changes in circumstances indicate that the carrying amount of a property may not be recoverable . certain factors may indicate that impairments exist which include , but are not limited to , under-performance relative to projected future operating results , tenant difficulties and significant adverse industry or market economic trends . if an indicator of possible impairment exists , the property is evaluated for impairment by comparing the carrying amount of the property to the estimated future cash flows ( undiscounted and without interest charges ) , including the residual value of the real estate . if an impairment is indicated , a loss will be recorded for the amount by which the carrying value of the asset exceeds its estimated fair value . estimating future cash flows is highly subjective and such estimates could differ materially from actual results . real estate acquisitions upon acquisition of real estate properties , we evaluate the acquisition to determine if it is a business combination or an asset acquisition . if the acquisition is determined to be an asset acquisition , we record the purchase price and other related costs incurred to the acquired tangible assets and identified intangible assets and liabilities on a relative fair value basis . story_separator_special_tag 41 year ended december 31 , 2018 compared to year ended december 31 , 2017 analysis of revenue the following table summarizes our total revenue ( dollars in thousands ) : replace_table_token_11_th ( 1 ) for the year ended december 31 , 2018 compared to the year ended december 31 , 2017 , the increase in minimum rent resulted from $ 55.3 million of rental revenue related to property acquisitions and developments completed in 2018 and 2017 and conversion of certain mortgage notes to rental properties , an increase of $ 4.8 million in rental revenue on existing properties and an increase in rental revenue of $ 3.5 million related to cla . these increases were partially offset by a decrease of $ 5.4 million from property dispositions not included in discontinued operations . during the year ended december 31 , 2018 , we renewed four lease agreements on approximately 241 thousand square feet and funded or agreed to fund an average of $ 29.07 per square foot in tenant improvements . we experienced a decrease of approximately 1.7 % in rental rates and paid no leasing commissions with respect to these lease renewals . ( 2 ) the increase in straight-line rent in 2018 related to property acquisitions and developments completed in 2018 and 2017 as well as straight-line write-offs recognized during the year ended december 31 , 2017 . ( 3 ) the increase in mortgage and other financing income was primarily due to prepayment fees received in connection with partial prepayments on two non-education mortgage notes during the year ended december 31 , 2018 totaling $ 71.3 million . these increases were partially offset by the conversion of a mortgage note secured by 28 early childhood education center properties to leased properties during the year ended december 31 , 2018 , other note payoffs during 2018 and 2017 , as well as the sale of four public charter school properties classified as direct financing leases . 42 analysis of expenses and other line items the following table summarizes our expenses and other line items ( dollars in thousands ) : replace_table_token_12_th ( 1 ) the increase in general and administrative expense for the year ended december 31 , 2018 compared to year ended december 31 , 2017 was primarily due to an increase in payroll and benefits costs , including share-based compensation , as well as an increase in professional fees , shareholder and marketing expenses , franchise taxes and insurance costs . ( 2 ) severance expense for the year ended december 31 , 2018 related to the termination of the amended and restated employment agreement for our former senior vice president and chief investment officer as well as another employee . see note 14 to the consolidated financial statements included in this annual report on form 10-k for further detail . there was no severance expense for the year ended december 31 , 2017 . ( 3 ) costs associated with loan refinancing or payoff for the year ended december 31 , 2018 related to the redemption of the 7.75 % senior notes due 2020. costs associated with loan refinancing or payoff for the year ended december 31 , 2017 related primarily to the amendment of our unsecured credit facility and term loan , and the prepayment of secured fixed rate mortgage notes payable . ( 4 ) impairment charges recognized during the year ended december 31 , 2018 related to two partially completed early childhood education centers and two land parcels with site improvements , as well as an impairment charge related to two guarantees of the payment of certain economic development revenue bonds secured by leasehold interest and improvements at two theatres in louisiana . see note 4 to the consolidated financial statements included in this annual report on form 10-k for further information on these impairment charges . impairment charges for the year ended december 31 , 2017 related to two public charter school properties previously included in our investment in direct financing leases . see note 7 to the consolidated financial statements included in this annual report on form 10-k. ( 5 ) the increase in depreciation and amortization expense resulted primarily from acquisitions and developments completed in 2017 and 2018 and was partially offset by property dispositions that occurred during 2017 and 2018 . 43 ( 6 ) the gain on sale of real estate for the year ended december 31 , 2018 related to the sale of four properties and the exercise of a tenant purchase option on a public charter school property . the gain on sale of real estate for the year ended december 31 , 2017 related to the sale of seven properties and the exercise of eight tenant purchase options on public charter school properties . ( 7 ) gain on sale of investment in direct financing leases year ended december 31 , 2018 related to the sale of four public charter school properties leased to imagine . for further detail , see note 7 to the consolidated financial statements included in this annual report on form 10-k. ( 8 ) impairment charges from discontinued operations for the year ended december 31 , 2017 related to five properties that were previously included in our investment in direct financing leases and leased to imagine . these properties were sold as part of the public charter school portfolio sale on november 22 , 2019. for further detail , see note 7 to the consolidated financial statements included in this annual report on form 10-k. ( 9 ) preferred share redemption costs for the year ended december 31 , 2017 were due to the redemption of all of our 6.625 % series f cumulative redeemable preferred shares on december 21 , 2017. these costs consisted of the original issuance costs and other redemption related expenses . liquidity and capital resources story_separator_special_tag 2019 , we filed a shelf registration statement with the sec , which is effective for a

