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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 9,689 $ (3,146)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 44,910 46,055
Amortization of above and below market leases (38) (147)
Shares issued as compensation 338 337
Loss on extinguishment of debt 167  
Gain on sale of properties, net (20,626)  
Decrease in allowance for doubtful accounts and write-off of accounts receivable   (13)
Changes in operating assets and liabilities:    
Tenant rent receivables 4,540 (328)
Straight-line rents (2,858) (1,343)
Lease acquisition costs (623) (838)
Prepaid expenses and other assets (485) 21
Accounts payable and accrued expenses (18,520) (10,006)
Accrued compensation (1,609) (1,122)
Tenant security deposits (1,870) (191)
Payment of deferred leasing commissions (6,926) (3,682)
Net cash provided by operating activities 6,089 25,597
Cash flows from investing activities:    
Property improvements, fixtures and equipment (36,957) (43,189)
Proceeds received on sales of real estate assets 228,717  
Net cash provided by investing activities 191,760 (43,189)
Cash flows from financing activities:    
Distributions to stockholders (19,319) (19,308)
Borrowings under bank note payable 66,500 60,000
Repayments of bank note payable (70,000) (30,000)
Repayment on term loan payable (155,000)  
Net cash used in financing activities (177,819) 10,692
Net increase (decrease) in cash, cash equivalents and restricted cash 20,030 (6,900)
Cash, cash equivalents and restricted cash, beginning of year 4,150 9,790
Cash, cash equivalents and restricted cash, end of period 24,180 2,890
Cash paid for:    
Interest 17,588 16,882
Taxes 417 470
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets $ 5,881 $ 9,985