v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income loss $ 77,302 $ 38,657
Adjustments to reconcile net income including non-controlling interests to net cash provided by operating activities:    
Depreciation and amortization including intangibles associated with investment in rental property 96,312 102,536
Provision for impairment of investment in rental properties 28,001 17,399
Amortization of debt issuance costs charged to interest expense 2,725 2,421
Stock-based compensation expense 3,644 796
Straight-line rent, financing and sales-type lease adjustments (13,042) (14,696)
Cost of debt extinguishment 368 414
Gain on sale of real estate (9,791) (9,725)
Change in fair value of earnout liability 5,539 (8,506)
Cash paid for earnout liability (6,440) 0
Settlement Of Interest Rate Swaps (5,580) 0
Leasing fees paid (319) 0
Adjustment to provision for credit losses (1) (142)
Other non-cash items 830 420
Changes in assets and liabilities, net of acquisition:    
Tenant and other receivables 664 (3,023)
Prepaid expenses and other assets 1,690 (4,751)
Accounts payable and other liabilities (456) 5,305
Accrued interest payable 5,872 5,859
Net cash provided by operating activities 187,318 132,964
Investing activities    
Acquisition of rental property accounted for using the operating method (516,111) (76)
Cash paid for Internalization 0 (30,861)
Capital expenditures and improvements (1,451) (7,629)
Proceeds from disposition of rental property, net 68,608 54,810
Change in deposits on investments in rental property 575 (37)
Net cash (used in) provided by investing activities (448,379) 16,207
Financing activities    
Proceeds from issuance of common stock and Class A common stock, net of offering costs, discounts, and commissions 253,170 534,117
Repurchase of fractional shares of common stock 0 (36)
Borrowings on mortgages, senior unsecured notes and unsecured term loans 381,810 60,000
Principal payments on mortgages and unsecured term loans 332,193 (393,294)
Borrowings on unsecured revolving credit facility 216,600 192,000
Repayments on unsecured revolving credit facility (216,600) (389,300)
Cash distributions paid to stockholders (113,304) (52,447)
Cash distributions paid to non-controlling interests (8,638) (5,395)
Payment For Earnout Liability (6,608) 0
Debt issuance and extinguishment costs paid 3,827 (6,140)
Net cash (used in) provided by financing activities 170,410 (60,495)
Net (decrease) increase in cash and cash equivalents and restricted cash (90,651) 88,676
Cash and cash equivalents and restricted cash at beginning of period 110,728 20,311
Cash and cash equivalents and restricted cash at end of period 20,077 108,987
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents at beginning of period 100,486 12,455
Restricted cash at beginning of period 10,242 7,856
Cash and cash equivalents and restricted cash at beginning of period 110,728 20,311
Cash and cash equivalents at end of period 16,182 101,787
Restricted cash at end of period 3,895 7,200
Cash and cash equivalents and restricted cash at end of period $ 20,077 $ 108,987