under our ground leases we are typically not responsible for any operating or capital expenses over the life of the lease , making the management of our portfolio relatively simple , with limited working capital needs . we believe institutional owners of commercial real estate increasingly understand that the structure of our safehold tm ground lease allows owners of high quality properties to generate higher returns with less risk . we experienced significant customer demand for our safehold tm ground leases during the year ended december 31 , 2019 , and we expect that increased customer experience and market recognition should generate greater demand for safehold tm ground leases from building owners and acquirers going forward . 31 our portfolio our portfolio of properties is diversified by property type and region . our portfolio is comprised of ground leases and a master lease ( relating to five hotel assets that we refer to as our “ park hotels portfolio ” ) that has many of the characteristics of a ground lease , including length of lease term , percentage rent participations , triple net terms and strong ground rent coverage ( which was 4.0x as of december 31 , 2019 on a weighted average basis ) . below is an overview of the top 10 assets in our portfolio as of december 31 , 2019 ( based on gross book value ) : ( 1 ) replace_table_token_1_th _ ( 1 ) gross book value represents the historical purchase price plus accrued interest on sales-type leases . ( 2 ) gross book value for this property represents our pro rata share of the gross book value of our unconsolidated venture ( refer to note 6 ) . ( 3 ) the park hotels portfolio consists of five properties and is subject to a single master lease . a majority of the land underlying one of these properties is owned by a third party and is ground leased to us through 2044 subject to changes in the cpi ; however , our tenant at the property pays this cost directly to the third party . 32 the following charts show certain statistics of our portfolio as of december 31 , 2019 , excluding unfunded commitments : 33 unfunded commitments in october 2017 , we entered into a commitment to acquire land subject to a ground lease on which a luxury multi-family project is currently being constructed in san jose , california . pursuant to the purchase agreement , we will acquire the ground lease on november 1 , 2020 from istar for $ 34.0 million . istar committed to provide a $ 80.5 million construction loan to the ground lessee . in august 2018 , we entered into an aggregate $ 30.0 million commitment to acquire land for $ 12.5 million and provide a $ 17.5 million leasehold improvement allowance for the ground lease tenant 's construction of a multi-family property in washington , dc . we acquired the land in june 2019 and will fund the leasehold improvement allowance upon the completion of certain conditions . in january 2019 , we acquired land for $ 13.0 million and simultaneously structured and entered into a ground lease as part of the ground lease tenant 's acquisition of an existing office building located in washington , dc that is to be converted into a multi-family building . we committed to provide the ground lease tenant a $ 10.5 million leasehold improvement allowance that will be funded upon the completion of certain conditions . in june 2019 , we acquired land for $ 8.1 million and simultaneously structured and entered into a ground lease as part of the ground lease tenant 's development of a to-be-built multi-family community located outside of orlando , fl . we committed to provide the ground lease tenant a $ 21.4 million leasehold improvement allowance that will be funded upon the completion of certain conditions . as of december 31 , 2019 , $ 2.1 million of the leasehold improvement allowance had been funded . results of operations for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 replace_table_token_2_th operating lease income increased to $ 72.1 million during the year ended december 31 , 2019 from $ 47.4 million for the same period in 2018. the increase in 2019 was primarily due to the origination and acquisition of ground leases classified as operating leases . interest income from sales-type leases ( refer to note 3 ) was $ 18.5 million for the year ended december 31 , 2019 . on january 1 , 2019 , we adopted new accounting standards ( refer to note 3 ) and , as a result , now classify certain of our ground leases as sales-type leases . under sales-type leases , we accrue interest income under the effective interest method as opposed to recognition of operating lease income under the straight-line rent method for our ground leases that do not qualify as sales-type leases . we expect a majority of our newly originated ground leases will be classified as sales-type leases . other income for the year ended december 31 , 2019 was $ 2.8 million and consists primarily of $ 2.4 million of interest income earned on our cash balances and $ 0.4 million of other income relating to a ground lease in which we are the lessee but 34 our tenant at the property pays this expense directly under the terms of a master lease ( refer to note 3 ) . story_separator_special_tag reserve for losses in net investment in sales-type leases and ground lease receivables— we evaluate our net investment in sales-type leases and ground lease receivables for impairment under asc 310. as part of our process for monitoring the credit quality of our net investment in sales-type leases and ground lease receivables , we perform a quarterly assessment for each of our net investment in sales-type leases and ground lease receivables . we generally target ground lease investments in which the initial cost of the ground lease represents 30 % to 45 % of the combined property value . as such , we believe our ground lease investments represent a safe position in a property 's capital structure . this safety is derived from the typical structure of a ground lease under which the landlord has a residual right to regain possession of its land and take ownership of the buildings and improvements thereon upon a tenant default . the landlord 's residual right provides a strong incentive for a ground lease tenant or its leasehold lender to make the required ground lease rent payments and , as such , we believe there is a low likelihood of default on our net investment in sales-type leases and ground lease receivables . we consider a net investment in sales-type lease or ground lease receivable to be impaired when , based upon current information and events , we believe that it is probable that we will be unable to collect all amounts due under the contractual terms of the ground lease . as of december 31 , 2019 , all of our net investment in sales-type leases and ground lease receivables were performing in accordance with the terms of the respective leases . any potential reserve for losses in net investment in sales-type leases and ground lease receivables will reflect management 's estimate of losses inherent in the portfolio as of the balance sheet date . if we determine that the collateral fair value less costs to sell is less than the carrying value of a collateral-dependent receivable , we will record a reserve . the reserve , if applicable , will be increased ( decreased ) through `` reserve for losses on receivables `` in our consolidated statements of operations and will be decreased by charge-offs . our policy is to charge off a receivable when we determine , based on a variety of factors , that all commercially reasonable means of recovering the receivable balance have been exhausted . this may occur at different times , including when we receive cash or other assets in a pre-foreclosure sale or take control of the underlying collateral in full satisfaction of the receivable upon foreclosure or deed-in-lieu , or when we have otherwise ceased significant collection efforts . we consider circumstances such as the foregoing to be indicators that the final steps in the receivable collection process have occurred and that a receivable is uncollectible . at this point , a loss is confirmed and the receivable and related reserve will be charged off . we have one portfolio segment represented by acquiring , managing and capitalizing ground leases , whereby we utilize a uniform process for determining our reserve for losses on our net investment in sales-type leases and ground lease receivables . interest income from sales-type leases —interest income from sales-type leases is recognized under the effective interest method . the effective interest method produces a constant yield on the net investment in the sales-type lease and ground lease receivable over the term of the lease . rent payments that are not fixed and determinable at lease inception , such as percentage rent and cpi adjustments , are not included in the effective interest method calculation and are recognized in `` interest income from sales-type leases `` in our consolidated statements of operations in the period earned . a ground lease receivable is placed on non-accrual status if and when it becomes 90-days past due or we consider the ground lease receivable impaired . equity investments in ground leases —equity investments in ground leases are accounted for pursuant to the equity method of accounting if we can significantly influence the operating and financial policies of the investee . we have a 54.8 % noncontrolling equity interest in a venture and have shared voting power with our partner . we determined the entity to be a voting interest entity and our equity interest is accounted for pursuant to the equity method of accounting . our periodic share of earnings and losses in equity method investees are included in `` earnings ( losses ) from equity method investments `` in our consolidated statements of operations . equity investments are included in `` equity investments in ground leases `` on our consolidated balance sheets . operating lease income — operating lease income includes rent earned from leasing land and buildings owned by us to our tenants . operating lease income is recognized on the straight-line method of accounting , generally from the later of the date the lessee takes possession of the space and it is ready for its intended use or the date of acquisition of the asset subject to existing leases . accordingly , increases in contractual lease payments are recognized evenly over the term of the lease . the periodic difference 38 between operating lease income recognized under this method and contractual lease payment terms is recorded as deferred operating lease income receivable and is included in ‘ ‘ deferred operating lease income receivable `` on our consolidated balance sheets . we are also entitled to percentage rent , representing a portion of our lessee 's gross revenues from the properties , pursuant to some of our leases and record percentage rent as operating lease income when earned . operating lease income also includes the amortization of finite lived intangible assets and liabilities , which are amortized over the period during which the assets or liabilities are expected to contribute directly

liquidity and capital resources liquidity is a measure of our ability to meet potential cash requirements , including to pay interest and repay borrowings , fund and maintain our assets and operations , complete acquisitions and originations of investments , make distributions to our stockholders and meet other general business needs . in order to qualify as a reit , we are required under the internal revenue code of 1986 to distribute to our stockholders , on an annual basis , at least 90 % of our reit taxable income , determined without regard to the deduction for dividends paid and excluding net capital gains . we expect to make quarterly cash distributions to our stockholders sufficient to meet reit qualification requirements . 35 as of december 31 , 2019 , we had $ 22.7 million of unrestricted cash , $ 359.0 million of undrawn capacity and the ability to borrow an additional $ 118.2 million on our 2017 revolver , subject to the conditions set forth in the applicable loan agreement ( refer to note 8 for more information on our 2017 revolver ) , without pledging any additional assets to the facility . we refer to this $ 140.9 million of unrestricted cash and additional borrowing capacity as our `` equity '' liquidity which can be used for general corporate purposes or leveraged ( a maximum of 2:1 in the case of our 2017 revolver ) to acquire new ground lease assets.


 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.
     ```liquidity and capital resources liquidity is a measure of our ability to meet potential cash requirements , including to pay interest and repay borrowings , fund and maintain our assets and operations , complete acquisitions and originations of investments , make distributions to our stockholders and meet other general business needs . in order to qualify as a reit , we are required under the internal revenue code of 1986 to distribute to our stockholders , on an annual basis , at least 90 % of our reit taxable income , determined without regard to the deduction for dividends paid and excluding net capital gains . we expect to make quarterly cash distributions to our stockholders sufficient to meet reit qualification requirements . 35 as of december 31 , 2019 , we had $ 22.7 million of unrestricted cash , $ 359.0 million of undrawn capacity and the ability to borrow an additional $ 118.2 million on our 2017 revolver , subject to the conditions set forth in the applicable loan agreement ( refer to note 8 for more information on our 2017 revolver ) , without pledging any additional assets to the facility . we refer to this $ 140.9 million of unrestricted cash and additional borrowing capacity as our `` equity '' liquidity which can be used for general corporate purposes or leveraged ( a maximum of 2:1 in the case of our 2017 revolver ) to acquire new ground lease assets.
```    
 Suspicious Activity Report : under our ground leases we are typically not responsible for any operating or capital expenses over the life of the lease , making the management of our portfolio relatively simple , with limited working capital needs . we believe institutional owners of commercial real estate increasingly understand that the structure of our safehold tm ground lease allows owners of high quality properties to generate higher returns with less risk . we experienced significant customer demand for our safehold tm ground leases during the year ended december 31 , 2019 , and we expect that increased customer experience and market recognition should generate greater demand for safehold tm ground leases from building owners and acquirers going forward . 31 our portfolio our portfolio of properties is diversified by property type and region . our portfolio is comprised of ground leases and a master lease ( relating to five hotel assets that we refer to as our “ park hotels portfolio ” ) that has many of the characteristics of a ground lease , including length of lease term , percentage rent participations , triple net terms and strong ground rent coverage ( which was 4.0x as of december 31 , 2019 on a weighted average basis ) . below is an overview of the top 10 assets in our portfolio as of december 31 , 2019 ( based on gross book value ) : ( 1 ) replace_table_token_1_th _ ( 1 ) gross book value represents the historical purchase price plus accrued interest on sales-type leases . ( 2 ) gross book value for this property represents our pro rata share of the gross book value of our unconsolidated venture ( refer to note 6 ) . ( 3 ) the park hotels portfolio consists of five properties and is subject to a single master lease . a majority of the land underlying one of these properties is owned by a third party and is ground leased to us through 2044 subject to changes in the cpi ; however , our tenant at the property pays this cost directly to the third party . 32 the following charts show certain statistics of our portfolio as of december 31 , 2019 , excluding unfunded commitments : 33 unfunded commitments in october 2017 , we entered into a commitment to acquire land subject to a ground lease on which a luxury multi-family project is currently being constructed in san jose , california . pursuant to the purchase agreement , we will acquire the ground lease on november 1 , 2020 from istar for $ 34.0 million . istar committed to provide a $ 80.5 million construction loan to the ground lessee . in august 2018 , we entered into an aggregate $ 30.0 million commitment to acquire land for $ 12.5 million and provide a $ 17.5 million leasehold improvement allowance for the ground lease tenant 's construction of a multi-family property in washington , dc . we acquired the land in june 2019 and will fund the leasehold improvement allowance upon the completion of certain conditions . in january 2019 , we acquired land for $ 13.0 million and simultaneously structured and entered into a ground lease as part of the ground lease tenant 's acquisition of an existing office building located in washington , dc that is to be converted into a multi-family building . we committed to provide the ground lease tenant a $ 10.5 million leasehold improvement allowance that will be funded upon the completion of certain conditions . in june 2019 , we acquired land for $ 8.1 million and simultaneously structured and entered into a ground lease as part of the ground lease tenant 's development of a to-be-built multi-family community located outside of orlando , fl . we committed to provide the ground lease tenant a $ 21.4 million leasehold improvement allowance that will be funded upon the completion of certain conditions . as of december 31 , 2019 , $ 2.1 million of the leasehold improvement allowance had been funded . results of operations for the year ended december 31 , 2019 compared to the year ended december 31 , 2018 replace_table_token_2_th operating lease income increased to $ 72.1 million during the year ended december 31 , 2019 from $ 47.4 million for the same period in 2018. the increase in 2019 was primarily due to the origination and acquisition of ground leases classified as operating leases . interest income from sales-type leases ( refer to note 3 ) was $ 18.5 million for the year ended december 31 , 2019 . on january 1 , 2019 , we adopted new accounting standards ( refer to note 3 ) and , as a result , now classify certain of our ground leases as sales-type leases . under sales-type leases , we accrue interest income under the effective interest method as opposed to recognition of operating lease income under the straight-line rent method for our ground leases that do not qualify as sales-type leases . we expect a majority of our newly originated ground leases will be classified as sales-type leases . other income for the year ended december 31 , 2019 was $ 2.8 million and consists primarily of $ 2.4 million of interest income earned on our cash balances and $ 0.4 million of other income relating to a ground lease in which we are the lessee but 34 our tenant at the property pays this expense directly under the terms of a master lease ( refer to note 3 ) . story_separator_special_tag reserve for losses in net investment in sales-type leases and ground lease receivables— we evaluate our net investment in sales-type leases and ground lease receivables for impairment under asc 310. as part of our process for monitoring the credit quality of our net investment in sales-type leases and ground lease receivables , we perform a quarterly assessment for each of our net investment in sales-type leases and ground lease receivables . we generally target ground lease investments in which the initial cost of the ground lease represents 30 % to 45 % of the combined property value . as such , we believe our ground lease investments represent a safe position in a property 's capital structure . this safety is derived from the typical structure of a ground lease under which the landlord has a residual right to regain possession of its land and take ownership of the buildings and improvements thereon upon a tenant default . the landlord 's residual right provides a strong incentive for a ground lease tenant or its leasehold lender to make the required ground lease rent payments and , as such , we believe there is a low likelihood of default on our net investment in sales-type leases and ground lease receivables . we consider a net investment in sales-type lease or ground lease receivable to be impaired when , based upon current information and events , we believe that it is probable that we will be unable to collect all amounts due under the contractual terms of the ground lease . as of december 31 , 2019 , all of our net investment in sales-type leases and ground lease receivables were performing in accordance with the terms of the respective leases . any potential reserve for losses in net investment in sales-type leases and ground lease receivables will reflect management 's estimate of losses inherent in the portfolio as of the balance sheet date . if we determine that the collateral fair value less costs to sell is less than the carrying value of a collateral-dependent receivable , we will record a reserve . the reserve , if applicable , will be increased ( decreased ) through `` reserve for losses on receivables `` in our consolidated statements of operations and will be decreased by charge-offs . our policy is to charge off a receivable when we determine , based on a variety of factors , that all commercially reasonable means of recovering the receivable balance have been exhausted . this may occur at different times , including when we receive cash or other assets in a pre-foreclosure sale or take control of the underlying collateral in full satisfaction of the receivable upon foreclosure or deed-in-lieu , or when we have otherwise ceased significant collection efforts . we consider circumstances such as the foregoing to be indicators that the final steps in the receivable collection process have occurred and that a receivable is uncollectible . at this point , a loss is confirmed and the receivable and related reserve will be charged off . we have one portfolio segment represented by acquiring , managing and capitalizing ground leases , whereby we utilize a uniform process for determining our reserve for losses on our net investment in sales-type leases and ground lease receivables . interest income from sales-type leases —interest income from sales-type leases is recognized under the effective interest method . the effective interest method produces a constant yield on the net investment in the sales-type lease and ground lease receivable over the term of the lease . rent payments that are not fixed and determinable at lease inception , such as percentage rent and cpi adjustments , are not included in the effective interest method calculation and are recognized in `` interest income from sales-type leases `` in our consolidated statements of operations in the period earned . a ground lease receivable is placed on non-accrual status if and when it becomes 90-days past due or we consider the ground lease receivable impaired . equity investments in ground leases —equity investments in ground leases are accounted for pursuant to the equity method of accounting if we can significantly influence the operating and financial policies of the investee . we have a 54.8 % noncontrolling equity interest in a venture and have shared voting power with our partner . we determined the entity to be a voting interest entity and our equity interest is accounted for pursuant to the equity method of accounting . our periodic share of earnings and losses in equity method investees are included in `` earnings ( losses ) from equity method investments `` in our consolidated statements of operations . equity investments are included in `` equity investments in ground leases `` on our consolidated balance sheets . operating lease income — operating lease income includes rent earned from leasing land and buildings owned by us to our tenants . operating lease income is recognized on the straight-line method of accounting , generally from the later of the date the lessee takes possession of the space and it is ready for its intended use or the date of acquisition of the asset subject to existing leases . accordingly , increases in contractual lease payments are recognized evenly over the term of the lease . the periodic difference 38 between operating lease income recognized under this method and contractual lease payment terms is recorded as deferred operating lease income receivable and is included in ‘ ‘ deferred operating lease income receivable `` on our consolidated balance sheets . we are also entitled to percentage rent , representing a portion of our lessee 's gross revenues from the properties , pursuant to some of our leases and record percentage rent as operating lease income when earned . operating lease income also includes the amortization of finite lived intangible assets and liabilities , which are amortized over the period during which the assets or liabilities are expected to contribute directly

