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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) $ 4,590 $ (571)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Stock based compensation 38 38
Depreciation and amortization 14,002 13,664
Deferred loan and lease commission costs amortization 1,247 1,138
Bad debt provision (recovery), net 23 (101)
Changes in operating assets and liabilities:    
Accrued rent and accounts receivable (3,675) (1,552)
Deferred leasing commissions (1,534) (1,623)
Prepaid expenses and other assets (2,285) (10,984)
Accounts payable and accrued expenses (9,017) (8,411)
Due to/from related parties 1,593 261
Tenants' security deposits (172) 185
Net cash provided by (used in) operating activities 4,810 (7,956)
Cash flows from investing activities:    
Acquisition deposits 0 529
Repayment of note receivable - related party 751 300
Investment in affiliate 0 (10,546)
Lender required reserves 0 10,273
Additions to real estate (5,164) (5,158)
Net cash used in investing activities (4,413) (4,602)
Cash flows from financing activities:    
Distributions to common stockholders (6,445) (6,406)
Distributions to non-controlling interest (3,646) (4,282)
Borrowing from affiliate 3,800 0
Repayment under insurance premium finance note (1,407) (787)
Repayments under term loan notes (722) (7,791)
Borrowings under insurance premium finance note 2,826 1,576
Payments of deferred loan costs 0 (72)
Net cash used in by financing activities (5,594) (17,762)
Net change in cash and cash equivalents and restricted cash (5,197) (30,320)
Cash and cash equivalents and restricted cash, beginning of period 27,111 51,476
Cash and cash equivalents and restricted cash, end of period 21,914 21,156
Supplemental cash flow information:    
Cash paid for interest 5,023 6,654
Supplemental disclosures of non-cash investing and financing activities:    
Value of Director's stock compensation shares issued 0 76
Value of Common shares issued to acquire non-controlling interest 0 8,782
Acquisition of non-controlling interest $ 0 $ (8,858)