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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 1,094 $ 92,717 $ 32,615
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 65,697 81,041 91,581
Amortization of above and below market leases (118) (34) (313)
Shares issued as compensation 394 338 337
Loss on extinguishment of debt 78 901  
Impairment and loan loss reserve 4,237    
Gain on sale of properties, net (27,939) (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)
Changes in operating assets and liabilities:      
Tenant rent receivables (247) 5,702 (3,792)
Straight-line rents (5,895) (3,930) (1,685)
Lease acquisition costs (4,494) (2,353) (2,123)
Prepaid expenses and other assets (1,805) 82 (129)
Accounts payable and accrued expenses (5,983) (11,096) 7,785
Accrued compensation (1,060) 786 518
Tenant security deposits (509) (2,458) (669)
Payment of deferred leasing commissions (8,216) (12,200) (13,735)
Net cash provided by operating activities 15,234 36,362 68,449
Cash flows from investing activities:      
Property improvements, fixtures and equipment (54,910) (64,833) (77,919)
Investment in related party mortgage loan receivable   (3,000)  
Proceeds received from sales of properties 128,949 573,307 88,958
Net cash provided by investing activities 74,039 505,474 11,039
Cash flows from financing activities:      
Distributions to stockholders (53,988) (38,491) (38,628)
Stock repurchases (4,843) (18,244)  
Borrowings under bank note payable 90,000 91,500 105,000
Repayments of bank note payable (42,000) (95,000) (101,500)
Repayment of term loans payable (110,000) (445,000) (50,000)
Deferred financing costs (2,561)    
Net cash used in financing activities (123,392) (505,235) (85,128)
Net increase (decrease) in cash, cash equivalents and restricted cash (34,119) 36,601 (5,640)
Cash, cash equivalents and restricted cash, beginning of year 40,751 4,150 9,790
Cash, cash equivalents and restricted cash, end of period 6,632 40,751 4,150
Cash paid for:      
Interest 21,085 30,141 33,060
Taxes on income 667 454 477
Non-cash investing and financing activities:      
Accrued dividend   33,280  
Accrued costs for purchase of real estate assets $ 9,962 $ 4,715 $ 8,625