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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (3,146) $ 428
Adjustments to reconcile net income or loss to net cash provided by operating activities:    
Depreciation and amortization expense 46,055 46,791
Amortization of above and below market leases (147) (193)
Shares issued as compensation 337  
Decrease in allowance for doubtful accounts and write-off of accounts receivable (13) (91)
Changes in operating assets and liabilities:    
Tenant rent receivables (328) (2,337)
Straight-line rents (1,343) (4,829)
Lease acquisition costs (838) (2,603)
Prepaid expenses and other assets 21 2,392
Accounts payable and accrued expenses (10,006) (8,741)
Accrued compensation (1,122) (852)
Tenant security deposits (191) 2,799
Payment of deferred leasing commissions (3,682) (8,114)
Net cash provided by operating activities 25,597 24,650
Cash flows from investing activities:    
Property improvements, fixtures and equipment (43,189) (28,944)
Investment in related party mortgage loan receivable   (2,400)
Repayment of related party mortgage loan receivable   51,530
Proceeds received from liquidating trust   1,470
Net cash provided by (used in) investing activities (43,189) 21,656
Cash flows from financing activities:    
Distributions to stockholders (19,308) (19,302)
Borrowings under bank note payable 60,000 45,000
Repayments of bank note payable (30,000) (70,000)
Deferred financing costs   (81)
Net cash provided (used in) by financing activities 10,692 (44,383)
Net increase (decrease) in cash, cash equivalents and restricted cash (6,900) 1,923
Cash, cash equivalents and restricted cash, beginning of year 9,790 11,177
Cash, cash equivalents and restricted cash, end of period 2,890 13,100
Cash paid for:    
Interest 16,882 17,383
Taxes 470 377
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets $ 9,985 $ 11,201