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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 9,501 $ (100)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 22,829 21,687
Amortization of above and below-market leases and lease inducements, net (2,547) (1,243)
Amortization of debt discounts and financing costs 664 383
Straight-line rent adjustment, net (663) (640)
(Reversal of) provision for estimated credit losses (1,109) 191
Gain on sale of investment properties, net 0 (519)
Loss on extinguishment of debt 96 0
Equity in earnings of unconsolidated entities (2,716) (620)
Distributions from unconsolidated entities 4,950 3,300
Stock-based compensation, net 1,082 2,496
Changes in operating assets and liabilities:    
Accounts and rents receivable 5,890 4,006
Deferred costs and other assets, net (3,487) (2,263)
Accounts payable and accrued expenses (8,610) (5,562)
Other liabilities 897 (270)
Net cash provided by operating activities 26,777 20,846
Cash flows from investing activities:    
Purchase of investment properties (130,918) 0
Capital expenditures and tenant improvements (4,303) (2,953)
Investment in development and redevelopment projects (2,363) (544)
Proceeds from sale of investment properties, net 0 899
Distributions from unconsolidated entities 25,300 0
Lease commissions and other leasing costs (1,067) (1,037)
Other assets (7) (90)
Other liabilities (923) (765)
Net cash used in investing activities (114,281) (4,490)
Cash flows from financing activities:    
Distributions to shareholders (13,802) (13,642)
Line of credit proceeds 105,000 0
Line of credit repayments 0 (50,000)
Payoffs of debt (22,328) 0
Principal payments on mortgage debt (298) (329)
Payment of finance lease liabilities (109) (116)
Payment of loan fees and deposits (90) 0
Net cash provided by (used in) financing activities 68,373 (64,087)
Net decrease in cash, cash equivalents and restricted cash (19,131) (47,731)
Cash, cash equivalents and restricted cash at the beginning of the period 44,854 223,770
Cash, cash equivalents and restricted cash at the end of the period 25,723 176,039
Cash flow disclosure, including non-cash activities:    
Cash paid for interest, net of capitalized interest 3,930 3,732
Cash paid for income taxes, net of refunds 0 107
Distributions payable to shareholders 13,828 14,065
Accrued capital expenditures and tenant improvements 1,459 1,682
Capitalized costs placed in service 1,391 1,287
Purchase of investment properties:    
Net investment properties 176,623 0
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 17,022 0
Accounts payable and accrued expenses, lease intangibles, and other liabilities (5,227) 0
Assumption of mortgage debt (57,500) 0
Cash outflow for purchase of investment properties, net 130,918 0
Assumption of mortgage principal 57,500 0
Capitalized acquisition costs (814) 0
Credits and other changes in cash outflow, net 1,736 0
Gross acquisition price of investment properties 189,340 0
Sale of investment properties:    
Net investment properties 0 380
Gain on sale of investment properties, net 0 519
Proceeds from sale of investment properties, net 0 899
Credits and other changes in cash inflow, net 0 0
Gross Disposition Price $ 0 $ 899