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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 15,057 $ 11,947
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of real estate, net (9,232) (4,714)
Impairment loss 1,086  
Increase in net amortization of unbilled rental income (504) (1,199)
Write-off of unbilled rent receivable   133
Amortization and write-off of intangibles relating to leases, net (665) (454)
Amortization of restricted stock and RSU compensation expense 2,439 2,892
Equity in earnings of unconsolidated joint ventures (96) (145)
Distributions of earnings from unconsolidated joint venture   23
Depreciation and amortization 11,986 12,259
Amortization and write-off of deferred financing costs 516 407
Payment of leasing commissions (173) (179)
(Increase) decrease in escrow, deposits, other assets and receivables (961) 5,015
Decrease in accrued expenses and other liabilities (1,931) (1,055)
Net cash provided by operating activities 17,522 24,930
Cash flows from investing activities:    
Net proceeds from sale of real estate 24,485 10,069
Purchase of real estate (11,798)  
Improvements to real estate (1,493) (2,863)
Investments in ground leased property (44) (668)
Net cash provided by investing activities 11,150 6,538
Cash flows from financing activities:    
Scheduled amortization payments of mortgages payable (6,074) (6,174)
Repayments of mortgages payable (30,939) (6,735)
Proceeds from mortgage financings 34,213 23,450
Proceeds from bank line of credit   16,900
Repayments on bank line of credit   (36,200)
Issuance of shares through dividend reinvestment plan 2,898 2,172
Repurchases of common stock, net   (1,455)
Payment of financing costs (570) (370)
Capital contribution from non-controlling interests 43  
Distributions to non-controlling interests (296) (16)
Cash distributions to common stockholders (19,030) (19,056)
Net cash used in financing activities (19,755) (27,484)
Net increase in cash, cash equivalents and restricted cash 8,917 3,984
Cash, cash equivalents and restricted cash at beginning of year 29,592 7,277
Cash, cash equivalents and restricted cash at end of period 38,509 11,261
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest expense 9,463 $ 9,258
Supplemental disclosure of non-cash investing activities:    
Purchase accounting allocation - intangible lease assets 1,214  
Purchase accounting allocation - intangible lease liabilities $ (1,855)