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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income (loss) $ 1,981 $ 14,144 $ (10,481)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Gain on sales of real estate assets   (24,758) (2,329)
Depreciation and amortization 1,122 15,352 13,686
Noncash impairment charge   3,000 2,085
Change in fair value of financial instruments (2,785) 2,746 3,189
Noncash rental revenue including straight-line rents (250) (2,617) (2,696)
Stock-based compensation expense 41 1,110 532
Amortization of debt issuance costs 42 1,047 452
Losses on early extinguishment of debt   74  
Amortization of terminated swap agreement   66  
Deferred income taxes     3,357
Changes in assets and liabilities:      
Other assets 1,000 (656) 287
Accounts payable and accrued liabilities (42) 148 386
Deferred revenue (378) 243 841
Other liabilities 146 954 411
Net cash provided by operating activities 877 10,853 9,720
Investing activities:      
Acquisitions of land and buildings   (125,599) (13,670)
Additions to real estate assets (768) (47,703) (10,396)
Proceeds from sales of real estate assets, net of expenses   42,344 3,086
Deposits on building and land acquisitions   (9,800) (365)
Deferred leasing costs and other (41) (3,282) (1,766)
Changes in short-term investments, net     1,011
Net cash used in investing activities (809) (144,040) (22,100)
Financing activities:      
Proceeds from sale of common stock   261,477 27,281
Proceeds from mortgage and construction loans   26,273 20,100
Principal payments on mortgage loans (417) (17,100) (7,948)
Dividends paid to stockholders   (5,721)  
Payment of debt issuance costs   (1,886) (445)
Proceeds from exercise of stock options   442 212
Payment for termination of interest rate swap agreement   (66)  
Net repayment on revolving lines of credit     (3,000)
Proceeds from sale of warrants     2,018
Net cash provided by financing activities (417) 263,419 38,218
Net increase in cash and cash equivalents and restricted cash (349) 130,232 25,838
Cash and cash equivalents and restricted cash at beginning of period 31,024 30,675 4,837
Cash and cash equivalents and restricted cash at end of period $ 30,675 $ 160,907 $ 30,675