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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 14,145 $ (4,825)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 64,390 68,859
Amortization of above and below market leases (38) (234)
Shares issued as compensation 338 337
Loss on extinguishment of debt 403  
Gain on sale of properties, net (29,258)  
Equity in income of non-consolidated REITs (421)  
Distributions from non-consolidated REITs 421  
Decrease in allowance for doubtful accounts and write-off of accounts receivable   (13)
Changes in operating assets and liabilities:    
Tenant rent receivables 4,975 (143)
Straight-line rents (3,103) (2,636)
Lease acquisition costs (1,666) (1,516)
Prepaid expenses and other assets (1,035) (504)
Accounts payable and accrued expenses (8,389) 2,527
Accrued compensation (436) 234
Tenant security deposits (2,508) 89
Payment of deferred leasing commissions (10,857) (6,168)
Net cash provided by operating activities 26,961 56,007
Cash flows from investing activities:    
Property improvements, fixtures and equipment (55,008) (61,989)
Proceeds received on sales of real estate assets 319,357  
Net cash provided by (used in) investing activities 264,349 (61,989)
Cash flows from financing activities:    
Distributions to stockholders (28,985) (28,968)
Stock repurchases (8,244)  
Borrowings under bank note payable 76,500 85,000
Repayments of bank note payable (80,000) (55,000)
Repayment on term loan payable (245,000)  
Net cash provided by (used in) financing activities (285,729) 1,032
Net increase (decrease) in cash, cash equivalents and restricted cash 5,581 (4,950)
Cash, cash equivalents and restricted cash, beginning of year 4,150 9,790
Cash, cash equivalents and restricted cash, end of period 9,731 4,840
Cash paid for:    
Interest 22,995 22,716
Taxes 417 475
Non-cash investing activities:    
Accrued costs for purchases of real estate assets $ 5,108 $ 11,732