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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net (loss) income $ (2,098,000) $ 2,989,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Gain on sales   (101,000)
Impairment charges 7,474,000  
Straight-line rents and expenses, net (16,000) (166,000)
Provision for doubtful accounts 53,000 50,000
Depreciation and amortization 13,747,000 10,129,000
Amortization of intangible lease liabilities, net (459,000) (591,000)
Expense relating to share-based compensation, net 1,014,000 1,015,000
Amortization of deferred financing costs 310,000 330,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Rents and other receivables (953,000) (1,573,000)
Prepaid expenses and other (2,507,000) (1,521,000)
Accounts payable and accrued liabilities (3,176,000) (1,394,000)
Net cash provided by operating activities 13,389,000 9,167,000
INVESTING ACTIVITIES    
Expenditures for real estate improvements (9,813,000) (8,768,000)
Net proceeds from sales of real estate   9,912,000
Net cash (used in) / provided by investing activities (9,813,000) 1,144,000
FINANCING ACTIVITIES    
Repayments under revolving credit facility (7,000,000) (2,000,000)
Advances under revolving credit facility 83,000,000 4,000,000
Mortgage repayments (263,000) (253,000)
Noncontrolling interests:    
Distributions to limited partners (27,000) (28,000)
Common stock sales less issuance expenses, net 5,000 5,000
Common stock repurchases   (6,844,000)
Preferred stock dividends (2,688,000) (2,688,000)
Distributions to common shareholders (4,468,000) (4,455,000)
Net cash provided by / (used in) financing activities 68,559,000 (12,263,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 72,135,000 (1,952,000)
Cash, cash equivalents and restricted cash at beginning of year 2,747,000 1,977,000
Cash, cash equivalents and restricted cash at end of period 74,882,000 25,000
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 74,882,000 25,000
Cash, cash equivalents and restricted cash at end of period $ 74,882,000 $ 25,000