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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 4,489 $ 23,800 $ 16,607
Less net income - discontinued operations (605) 13,481 5,085
Net income - continuing operations 5,094 10,319 11,522
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,300 3,822 3,987
Mark to market adjustment on derivative financial instruments   162 (163)
Unrealized loss/(gain) on marketable equity securities, available for sale (1,436) 2,247 (1,096)
Loss on sale and redemption of marketable securities, available for sale 3 719 81
Gain on disposition of real estate   (1,013)  
Amortization of deferred financing costs   1,330 401
Other non-cash adjustments   (1,770)  
Noncash interest income   398 (105)
Changes in assets and liabilities:      
Increase in prepaid expenses and other assets   (223) (195)
Increase in tenant allowances and deposits payable   (24) (30)
Decrease in accounts payable, accrued expenses and other liabilities   (127) (1,008)
Decrease in due to related parties   (95) (203)
(Decrease)/increase in deferred rental income   (139) 7
Net cash provided by operating activities - continuing operations   15,606 13,198
Net cash (used in)/provided by operating activities - discontinued operations   (55) 2,272
Net cash provided by operating activities   15,551 15,470
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of investment property   (85,130) (556)
Purchase of marketable securities   (10,526) (72,477)
Proceeds from sale of marketable securities   61,376 9,982
Proceeds from sale of investment property   19,502  
Investment in joint venture   (89) (644)
Proceeds from joint venture   140 765
Funding of notes receivable   (65,363)  
Proceeds from investments in related parties   27,000 60,000
Investments in related parties   (2,266) (15,120)
Net cash used in investing activities - continuing operations   (55,356) (18,050)
Net cash used in investing activities - discontinued operations   (239) (476)
Net cash used in investing activities   (55,595) (18,526)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from mortgage financing   36,685  
Mortgage principal payments   (14,974) (21,568)
Payment of loan fees and expenses   (2,453)  
Redemption and cancellation of common shares   (9,924) (8,097)
Contributions received from noncontrolling interests   33,122 6
Distributions paid to noncontrolling interests   (2,496) (2,562)
Distributions paid to Company's common stockholders   (12,056) (12,956)
Net cash provided by/(used in) financing activities   27,904 (45,177)
Net change in cash, cash equivalents and restricted cash   (12,140) (48,233)
Cash, cash equivalents and restricted cash, beginning of year   36,582 119,219
Cash, cash equivalents and restricted cash, end of period 70,986 24,442 70,986
The following is a summary of the Company's cash, cash equivalents, and restricted cash total as presented in our statements of cash flows for the periods presented:      
Restricted cash 9,157 1,608 9,157
Total cash, cash equivalents and restricted cash $ 70,986 $ 36,582 $ 119,219