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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 32,615 $ 6,475 $ 13,069
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 91,581 93,787 97,171
Amortization of above and below market leases (313) (402) (556)
Shares issued as compensation 337 337  
Gain on sale of property (41,928)    
Equity in income of non-consolidated REITs     (6,793)
Decrease in allowance for doubtful accounts and write-off of accounts receivable (13) (71) (50)
Changes in operating assets and liabilities:      
Tenant rent receivables (3,792) 158 (765)
Straight-line rents (1,685) (8,876) 381
Lease acquisition costs (2,123) (3,999) (1,193)
Prepaid expenses and other assets (129) 2,313 (1,940)
Accounts payable and accrued expenses 7,785 3,910 (4,077)
Accrued compensation 518 357 (598)
Tenant security deposits (669) 3,027 936
Payment of deferred leasing commissions (13,735) (15,101) (15,383)
Net cash provided by operating activities 68,449 81,915 80,202
Cash flows from investing activities:      
Property improvements, fixtures and equipment (77,919) (70,746) (51,057)
Investment in non-consolidated REITs     74,931
Distributions in excess of earnings from non-consolidated REITs     710
Investment in related party mortgage loan receivable   (2,400)  
Repayment of related party mortgage loan receivable   52,060 1,060
Proceeds received on sales of real estate assets 88,958    
Proceeds received from liquidating trust   1,470  
Net cash provided by (used in) investing activities 11,039 (19,616) 25,644
Cash flows from financing activities:      
Distributions to stockholders (38,628) (38,603) (49,326)
Borrowings under bank note payable 105,000 45,000 38,000
Repayments of bank note payable (101,500) (70,000) (91,000)
Repayment on term loan payable (50,000)    
Deferred financing costs   (83) (2,162)
Net cash used in financing activities (85,128) (63,686) (104,488)
Net increase (decrease) in cash, cash equivalents and restricted cash (5,640) (1,387) 1,358
Cash, cash equivalents and restricted cash, beginning of year 9,790 11,177 9,819
Cash, cash equivalents and restricted cash, end of period 4,150 9,790 11,177
Cash paid for:      
Interest 33,060 34,470 35,885
Taxes on income 477 508 485
Non-cash investing and financing activities:      
Accrued costs for purchase of real estate assets $ 8,625 $ 11,012 $ 7,361