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Consolidated Statements of Cash Flows
3 Months Ended 9 Months Ended
Sep. 30, 2018
USD ($)
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
OPERATING ACTIVITIES      
Net income (loss) $ 6,305,000 $ 11,480,000 $ (378,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Gain on sales (4,864,000) (2,942,000) (4,864,000)
Impairment charges     20,689,000
Early extinguishment of debt costs 4,829,000   4,829,000
Straight-line rents and expenses, net   (298,000) (824,000)
Provision for doubtful accounts   233,000 1,662,000
Depreciation and amortization 9,650,000 31,022,000 30,245,000
Amortization of intangible lease liabilities, net (729,000) (2,212,000) (3,611,000)
Expense relating to share-based compensation, net   3,078,000 2,801,000
Amortization of premium on mortgage loan payable     (80,000)
Amortization of deferred financing costs   967,000 913,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Rents and other receivables   (2,068,000) (3,524,000)
Prepaid expenses and other   (5,788,000) (9,207,000)
Accounts payable and accrued liabilities   2,922,000 1,326,000
Net cash provided by operating activities   36,394,000 39,977,000
INVESTING ACTIVITIES      
Acquisition of real estate   (9,083,000) (179,000)
Expenditures for real estate improvements   (23,816,000) (21,919,000)
Net proceeds from sales of real estate   18,651,000 19,118,000
Issuance of mortgage note receivable     (3,500,000)
Net cash (used in) investing activities   (14,248,000) (6,480,000)
FINANCING ACTIVITIES      
Repayments under revolving credit facility   (16,000,000) (117,500,000)
Advances under revolving credit facility   23,000,000 164,500,000
Advance under term loan     75,000,000
Mortgage repayments   (766,000) (80,077,000)
Payment of early extinguishment of debt costs     (5,159,000)
Payments of debt financing costs     (677,000)
Noncontrolling interests:      
Distributions to limited partners   (84,000) (62,000)
Redemption of OP Units   (43,000) (7,000)
Redemptions of preferred stock     (50,016,000)
Common stock sales less issuance expenses, net   18,000 9,000
Common stock repurchases   (6,844,000)  
Preferred stock dividends   (8,064,000) (8,588,000)
Distributions to common shareholders   (13,357,000) (13,741,000)
Net cash (used in) financing activities   (22,140,000) (36,318,000)
Net increase (decrease) in cash, cash equivalents and restricted cash   6,000 (2,821,000)
Cash, cash equivalents and restricted cash at beginning of year   1,977,000 7,219,000
Cash, cash equivalents and restricted cash at end of period 4,398,000 1,983,000 4,398,000
Reconciliation to consolidated balance sheets:      
Cash and cash equivalents 4,398,000 1,983,000 4,398,000
Cash, cash equivalents and restricted cash at end of period $ 4,398,000 $ 1,983,000 $ 4,398,000