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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income $ (1,291) $ (8,686)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 8,755 8,167
Amortization of deferred financing costs 928 752
Amortization of deferred costs and intangible assets 623 1,100
Amortization of above- and below-market leases (830) (959)
Loss on extinguishment of debt 1,771 6,981
Deferred rent 816 513
Stock-based compensation 860 1,259
Change in fair value of interest rate caps (237)
Changes in operating assets and liabilities:    
Tenant and other receivables 222 3,886
Prepaid expenses, other assets and deferred costs 70 (886)
Accounts payable and accrued liabilities (1,781) 719
Security deposits 398 632
Other liabilities (98) 464
Net cash provided by operating activities 10,443 13,705
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to land, buildings, and improvements (21,383) (19,246)
Proceeds from sale of interest rate caps 385
Net cash used in investing activities (21,383) (18,861)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds and costs from sale of common stock (7)
Payments of mortgage notes (76,416) (579,989)
Proceeds from mortgage notes 125,000 608,585
Dividends and distributions (8,538) (8,515)
Loan issuance and extinguishment costs (2,166) (8,338)
Net cash provided by financing activities 37,880 11,736
Net increase in cash and cash equivalents and restricted cash 26,940 6,580
Cash and cash equivalents and restricted cash - beginning of period 45,864 21,670
Cash and cash equivalents and restricted cash - end of period 72,804 28,250
Cash and cash equivalents - beginning of period 37,028 7,940
Restricted cash - beginning of period 8,836 13,730
Cash and cash equivalents - end of period 56,349 15,794
Restricted cash - end of period 16,455 12,456
Supplemental cash flow information:    
Cash paid for interest, net of capitalized interest of $3,761 and $2,541 in 2019 and 2018, respectively 17,193 15,744
Non-cash interest capitalized to real estate under development 678 579
Additions to investment in real estate included in accounts payable and accrued liabilities $ 7,940 $ 2,686