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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 92,717 $ 32,615 $ 6,475
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 81,041 91,581 93,787
Amortization of above and below market leases (34) (313) (402)
Shares issued as compensation 338 337 337
Loss on extinguishment of debt 901    
Gain on sale of properties, net (113,134) (41,928)  
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) (71)
Changes in operating assets and liabilities:      
Tenant rent receivables 5,702 (3,792) 158
Straight-line rents (3,930) (1,685) (8,876)
Lease acquisition costs (2,353) (2,123) (3,999)
Prepaid expenses and other assets 82 (129) 2,313
Accounts payable and accrued expenses (11,096) 7,785 3,910
Accrued compensation 786 518 357
Tenant security deposits (2,458) (669) 3,027
Payment of deferred leasing commissions (12,200) (13,735) (15,101)
Net cash provided by operating activities 36,362 68,449 81,915
Cash flows from investing activities:      
Property improvements, fixtures and equipment (64,833) (77,919) (70,746)
Investment in related party mortgage loan receivable (3,000)   (2,400)
Repayment of related party mortgage loan receivable     52,060
Proceeds received on sales of real estate assets 573,307 88,958  
Proceeds received from liquidating trust     1,470
Net cash provided by (used in) investing activities 505,474 11,039 (19,616)
Cash flows from financing activities:      
Distributions to stockholders (38,491) (38,628) (38,603)
Stock repurchases (18,244)    
Borrowings under bank note payable 91,500 105,000 45,000
Repayments of bank note payable (95,000) (101,500) (70,000)
Repayment on term loan payable (445,000) (50,000)  
Deferred financing costs     (83)
Net cash used in financing activities (505,235) (85,128) (63,686)
Net increase (decrease) in cash, cash equivalents and restricted cash 36,601 (5,640) (1,387)
Cash, cash equivalents and restricted cash, beginning of year 4,150 9,790 11,177
Cash, cash equivalents and restricted cash, end of period 40,751 4,150 9,790
Cash paid for:      
Interest 30,141 33,060 34,470
Taxes 454 477 508
Non-cash investing and financing activities:      
Accrued dividend 33,280    
Accrued costs for purchases of real estate assets $ 4,715 $ 8,625 $ 11,012