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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities:    
Net (loss) income $ (2,991) $ 2,974
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation of building and building improvements 26,546 22,673
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs 17,919 18,475
Amortization of below market leases, net 650 (763)
Amortization of deferred financing costs and debt premium 880 632
Amortization of swap interest 31 32
Deferred rent (451) (3,761)
Deferred rent, ground lease 516 510
Loss from disposition of assets 6 0
Gain on fair value of earn-out 0 (2,581)
(Income) loss from investment in unconsolidated entities (8) 627
Loss from investments 134 136
Impairment provision 4,242 0
Stock-based compensation 1,713 984
Change in operating assets and liabilities:    
Deferred leasing costs and other assets 426 (4,010)
Restricted reserves 123 190
Accrued expenses and other liabilities (12,833) 4,364
Due to affiliates, net (162) (928)
Net cash provided by operating activities 36,741 39,554
Investing Activities:    
Cash paid in connection with CCIT II Merger, net of cash assumed (36,746) 0
Acquisition of properties, net 0 (16,584)
Proceeds from disposition of properties 1,676 0
Real estate acquisition deposits 0 1,047
Restricted reserves (64) (330)
Payments for construction in progress (30,489) (12,587)
Distributions of capital from investment in unconsolidated entities 41 2,151
Purchase of investments (82) (810)
Net cash used in investing activities (65,664) (27,113)
Financing Activities:    
Principal payoff of indebtedness - CCIT II Credit Facility (415,500) 0
Proceeds from borrowings - KeyBank Loans 400,000 90,000
Repurchase of common shares to satisfy employee tax withholding requirements (891) 0
Principal amortization payments on secured indebtedness (2,418) (1,722)
Deferred financing costs (342) 0
Offering costs (11) (303)
Repurchase of common stock (5,356) (96,520)
Issuance of common stock, net of discounts and underwriting costs 0 4,699
Distributions to noncontrolling interests (2,743) (4,362)
Distributions to preferred units subject to redemption (2,359) (2,047)
Distributions to common stockholders (12,820) (19,853)
Net cash used in financing activities (42,440) (30,108)
Net increase (decrease) in cash, cash equivalents and restricted cash (71,363) (17,667)
Cash, cash equivalents and restricted cash at the beginning of the period 203,306 113,260
Cash, cash equivalents and restricted cash at the end of the period 131,943 95,593
Supplemental Disclosures of Significant Non-Cash Transactions:    
Increase (decrease) in fair value swap agreement 16,447 (30,826)
Accrued tenant obligations 11,303 0
Distributions payable to common stockholders 9,688 12,692
Distributions payable to noncontrolling interests 946 1,753
Common stock issued pursuant to the distribution reinvestment plan 7,175 12,117
Common stock redemptions funded subsequent to period-end (6,910) 5,238
Issuance of stock dividends 0 5,747
Mortgage debt assumed in conjunction with the acquisition of real estate assets plus a premium 0 18,884
Net assets acquired in Mergers in exchange for common shares 838,315 0
Payable for construction in progress 3,570 15,919
Capitalized transaction costs accrued 2,036 0
Capitalized transaction costs transfers to real estate 2,130 0
Assumption of debt through the CCIT II Merger $ 415,500 $ 0