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Statements of Cash Flows Statement
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Operating activities:      
Net loss attributable to the Company $ (7,244,000) $ 43,467,000 $ 27,681,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest (7,458,000) 44,538,000 28,667,000
Reconciliation of net loss to net cash provided by (used in) operating activities:      
Depreciation expense 185,065,000 171,136,000 116,777,000
Amortization of above and below Market Leases (5,765,000) (5,905,000) (3,335,000)
Deferred fee income amortization (5,346,000) (4,323,000) (2,347,000)
amortization of purchase option termination fee income (9,111,000) (8,660,000) 0
adjustment to net income MBS revenue amortization noncash (928,000) (320,000) 0
Deferred Sales Inducement Cost, Amortization Expense 1,997,000 1,644,000 631,000
Deferred loan cost amortization 6,450,000 7,108,000 5,084,000
deferred interest income (5,766,000) 3,524,000 (4,970,000)
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss) (1,831,000) (320,000) 0
Share-based Compensation 1,223,000 1,703,000 3,470,000
Gain (Loss) on Disposition of Assets (1,567,000) (69,705,000) (37,635,000)
Gain (Loss) on Condemnation (207,000) 0 0
cash inflows purchase option terminations 3,591,000 7,740,000 0
Gain (Loss) on Extinguishment of Debt 84,000 0 888,000
Gain (Loss) on Sale of Mortgage Loans (747,000) 0 0
noncash loan interest income (637,000) 0 0
cash inflows mortgage interest from consolidated VIE 18,750,000 6,049,000 0
mortgage interes cash outflows consolidated VIE (18,750,000) (6,049,000) 0
Allowance for Loan and Lease Losses, Period Increase (Decrease) 2,038,000 2,533,000 0
Other Operating Activities, Cash Flow Statement 0 0 189,000
Changes in operating assets and liabilities:      
(Increase) in tenant accounts receivable (20,565,000) (7,631,000) (12,105,000)
Payments for (Proceeds from) Tenant Allowance (644,000) (7,607,000) (14,260,000)
Loans and Leases Receivable, Allowance 2,038,000 2,533,000 0
(Increase) decrease in other assets 1,518,000 2,876,000 2,382,000
Increase in accounts payable and accrued expenses 2,406,000 6,730,000 2,853,000
Net cash provided by (used in) operating activities 145,631,000 145,381,000 86,289,000
Investing activities:      
Investments in real estate loans (98,418,000) (200,806,000) (148,346,000)
Proceeds from Principal Repayments on Loans and Leases Held-for-investment 54,384,000 250,448,000 94,410,000
Notes receivable issued 3,089,000 12,759,000 6,100,000
Deferred acquisition fee on real estate loans (40,458,000) (51,789,000) (35,281,000)
Deferred real estate loan income (5,692,000) (9,946,000) (7,864,000)
Acquisition of properties, net (619,089,000) (1,007,048,000) (779,643,000)
Proceeds from Sale of Real Estate Held-for-investment 0 164,838,000 116,813,000
Receipt of insurance proceeds for capital improvements 746,000 978,000 4,719,000
Proceeds from Sale of Land Held-for-use 643,000 0 0
Payments to Develop Real Estate Assets (100,000) 0 0
Additions to real estate assets - improvements (48,071,000) (44,383,000) (11,594,000)
Increase (Decrease) in Earnest Money Deposits Outstanding (146,000) 4,534,000 (2,034,000)
AcquisitionFeesRelatedPartyCosts (783,000) (2,166,000) (1,320,000)
cash paid investment in CMBS (30,841,000) (45,927,000) 0
Proceeds from Sale of Mortgage-backed Securities (MBS), Available-for-sale 79,558,000 0 0
mortgage principal received from consolidated VIE 6,570,000 1,255,000 0
Increase (Decrease) in Accounts and Notes Receivable 35,239,000 41,117,000 34,229,000
Net cash (used in) investing activities (661,057,000) (881,805,000) (727,177,000)
Financing activities:      
Proceeds from mortgage notes payable 405,430,000 602,375,000 517,489,000
Extinguishment of Debt, Amount (176,903,000) (121,797,000) (124,040,000)
Payments for mortgage loan costs (8,705,000) (12,299,000) (14,772,000)
Payment for Debt Extinguishment or Debt Prepayment Cost 0 0 (817,000)
loan balance proceeds from real estate loan participants 0 5,000 224,000
payments received from real estate loan participants (5,223,000) (10,425,000) (7,883,000)
Proceeds from non-revolving lines of credit 265,200,000 550,300,000 275,000,000
Payments on revolving lines of credit (322,200,000) (535,100,000) (360,700,000)
Proceeds from Short-term Debt (70,000,000)    
Repayments of Short-term Debt   (11,000,000) 0
mortgage principal paid to consolidated VIE (6,570,000) (1,255,000) 0
cash flows financing proceeds repurchase agreements 4,857,000 0 0
cash flows financing repayments repurchase agreements (4,857,000) 0 0
Proceeds from sales of Units, net of offering costs 501,076,000 408,644,000 306,947,000
Proceeds from Issuance of Common Stock 0 0 74,213,000
Proceeds from Warrant Exercises 11,659,000 20,052,000 80,970,000
Preferred Stock, Redemption Amount (12,124,000) (9,367,000) (4,480,000)
Dividends declared and paid (45,439,000) (39,865,000) (27,409,000)
Payments of Ordinary Dividends, Preferred Stock and Preference Stock (110,827,000) (84,427,000) (61,966,000)
Payments for deferred offering costs, net of non cash items (4,013,000) (3,705,000) (6,314,000)
Net Cash Provided by (Used in) Financing Activities 564,989,000 751,102,000 646,185,000
Cash and Cash Equivalents, Period Increase (Decrease) 49,563,000 14,678,000 5,297,000
Cash beginning of period 87,690,000 73,012,000 67,715,000
Cash end of period 137,253,000 87,690,000 73,012,000
Supplemental cash flow information:      
Cash paid for interest 103,298,000 86,222,000 59,851,000
Noncash Investing and Financing Items [Abstract]      
Accrued capital expenditures 4,816,000 2,317,000 2,305,000
Deemed noncash dividend 768,000 229,000 63,000
Dividends payable to non controlling interests 225,000 228,000 221,000
Payments of Ordinary Dividends, Noncontrolling Interest (911,000) (1,034,000) (817,000)
Accrued and payable deferred offering costs 3,836,000 461,000 323,000
receivable for deferred offering costs 261,000 480,000 836,000
Writeoff of fully amortized deferred loan costs 1,919,000 4,829,000 411,000
Writeoff of assets due to hurricane damages 0 0 6,879,000
Payments for Tenant Improvements 0 18,202,000 28,803,000
Variable Interest Entity, Consolidated, Assets, Noncurrent, Pledged 270,669,000 264,886,000 0
Variable Interest Entity, Consolidated, Liabilities, Noncurrent 270,670,000 0 0
deconsolidation of VIE assets 578,707,000 0 0
deconsolidation of VIE liabilities 578,707,000 0 0
Proceeds from Sale of Loans Receivable 747,000 0 0
Reclass of offering costs from deferred asset to equity 12,551,000 4,044,000 2,515,000
loan receivables converted to equity for property acquisition 47,797,000 0 0
Contribution from non-controlling interests (4,539,000) 0 (540,000)
Loans Assumed 41,550,000 47,125,000 90,722,000
Share-based Compensation 719,000 4,972,000 4,088,000
Noncash settlement of loans 512,000 1,890,000 1,512,000
loan fees received 1,565,000 4,331,000 2,634,000
mortgage debt refinanced 65,607,000 152,770,000 162,945,000
Restricted Cash and Cash Equivalents 42,872,000 48,732,000  
Proceeds from Delayed Tax Exempt Exchange 0 0 31,288,000
Sales Of Agency Mortgage Backed Security Investments, Settled After Year-End 0 41,181,000 0
Common Stock [Member]      
Noncash Investing and Financing Items [Abstract]      
Dividends payable 12,156,000 10,840,000 9,576,000
Series A Preferred Stock [Member]      
Noncash Investing and Financing Items [Abstract]      
Dividends payable 10,020,000 7,920,000 5,971,000
Series M Preferred Stock [Member]      
Noncash Investing and Financing Items [Abstract]      
Dividends payable 560,000 269,000 70,000
Series A1 Preferred Stock [Domain]      
Noncash Investing and Financing Items [Abstract]      
Dividends payable 15,000 0 0
Parent [Member]      
Operating activities:      
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ (7,244,000) $ 43,467,000 27,681,000
Noncash Investing and Financing Items [Abstract]      
Contribution from non-controlling interests     $ 0