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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 5,380 $ 5,408
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of real estate, net (1,784) (1,534)
Increase in net amortization of unbilled rental income (283) (669)
Amortization and write-off of intangibles relating to leases, net (378) (224)
Amortization of restricted stock and RSU compensation expense 1,272 1,328
Equity in earnings of unconsolidated joint ventures (53) (85)
Depreciation and amortization 6,021 6,145
Amortization and write-off of deferred financing costs 226 202
Payment of leasing commissions (4) (179)
Decrease in escrow, deposits, other assets and receivables 740 5,571
Decrease in accrued expenses and other liabilities (2,230) (1,251)
Net cash provided by operating activities 8,907 14,712
Cash flows from investing activities:    
Net proceeds from sale of real estate 2,670 4,076
Improvements to real estate (844) (725)
Investments in ground leased property   (447)
Net cash provided by investing activities 1,826 2,904
Cash flows from financing activities:    
Scheduled amortization payments of mortgages payable (3,046) (3,078)
Repayments of mortgages payable (26,527)  
Proceeds from mortgage financings 28,000 4,800
Proceeds from bank line of credit   8,400
Repayments on bank line of credit   (18,700)
Issuance of shares through dividend reinvestment plan 1,435 1,074
Payment of financing costs (449) (118)
Capital contribution from non-controlling interests 43  
Distributions to non-controlling interests (94) (9)
Cash distributions to common stockholders (9,466) (9,483)
Net cash used in financing activities (10,104) (17,114)
Net increase in cash, cash equivalents and restricted cash 629 502
Cash, cash equivalents and restricted cash at beginning of year 29,592 7,277
Cash, cash equivalents and restricted cash at end of period 30,221 7,779
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest expense $ 4,741 $ 4,630