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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ (6,460) $ (1,071)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 25,088 23,086
Amortization of above and below market leases (32) (73)
Decrease in allowance for doubtful accounts and write-off of accounts receivable   (13)
Changes in operating assets and liabilities:    
Tenant rent receivables 3,319 255
Straight-line rents (1,904) (966)
Lease acquisition costs (50) (470)
Prepaid expenses and other assets (532) (644)
Accounts payable and accrued expenses (9,564) (8,215)
Accrued compensation (2,528) (2,065)
Tenant security deposits (636) 269
Payment of deferred leasing commissions (5,056) (2,892)
Net cash provided by operating activities 1,645 7,201
Cash flows from investing activities:    
Property improvements, fixtures and equipment (16,022) (20,054)
Net cash provided by investing activities (16,022) (20,054)
Cash flows from financing activities:    
Distributions to stockholders (9,660) (9,654)
Borrowings under bank note payable 36,500 35,000
Repayments of bank note payable (12,500) (5,000)
Net cash used in financing activities 14,340 20,346
Net increase (decrease) in cash, cash equivalents and restricted cash (37) 7,493
Cash, cash equivalents and restricted cash, beginning of year 4,150 9,790
Cash, cash equivalents and restricted cash, end of period 4,113 17,283
Cash paid for:    
Interest 5,870 5,899
Taxes 24  
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets $ 9,585 $ 9,645