Restricted cash primarily consists of funds held related to resident security deposits, cash reserves in accordance with certain loan agreements and funds held in the custody of our transfer agent for the payment of distributions. Funds held related to resident security deposits are restricted during the term of the related lease agreement, which is generally one year. Cash reserved in connection with lender requirements is restricted during the term of the related debt instrument.

The following table provides a reconciliation of cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the corresponding financial statement line items in the condensed consolidated balance sheets (amounts in thousands):


	June 30,				December 31,
	2024		2023		2023		2022
Cash and cash equivalents	$	718,380	$	199,601	$	59,385	$	69,155
Restricted cash	163,266		162,169		162,476		148,805
Total cash, cash equivalents and restricted cash	$	881,646	$	361,770	$	221,861	$	217,960