XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (4,825) $ 2,827
Adjustments to reconcile net income or loss to net cash provided by operating activities:    
Depreciation and amortization expense 68,859 70,072
Amortization of above and below market leases (234) (305)
Shares issued as compensation 337  
Decrease in allowance for doubtful accounts and write-off of accounts receivable (13) (69)
Changes in operating assets and liabilities:    
Tenant rent receivables (143) (403)
Straight-line rents (2,636) (6,950)
Lease acquisition costs (1,516) (3,155)
Prepaid expenses and other assets (504) 1,261
Accounts payable and accrued expenses 2,527 2,849
Accrued compensation 234 726
Tenant security deposits 89 2,689
Payment of deferred leasing commissions (6,168) (9,485)
Net cash provided by operating activities 56,007 60,057
Cash flows from investing activities:    
Property improvements, fixtures and equipment (61,989) (47,905)
Investment in related party mortgage loan receivable   (2,400)
Repayment of related party mortgage loan receivable   51,795
Proceeds received from liquidating trust   1,470
Net cash provided by (used in) investing activities (61,989) 2,960
Cash flows from financing activities:    
Distributions to stockholders (28,968) (28,953)
Borrowings under bank note payable 85,000 45,000
Repayments of bank note payable (55,000) (70,000)
Deferred financing costs   (82)
Net cash provided (used in) by financing activities 1,032 (54,035)
Net increase (decrease) in cash, cash equivalents and restricted cash (4,950) 8,982
Cash, cash equivalents and restricted cash, beginning of year 9,790 11,177
Cash, cash equivalents and restricted cash, end of period 4,840 20,159
Cash paid for:    
Interest 22,716 23,710
Taxes 475 377
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets $ 11,732 $ 6,903