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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (1,804) $ (4,241)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 14,585 16,085
Amortization of debt issuance costs and mortgage premiums, net 290 193
Amortization of acquired market leases, net (514) (55)
Amortization of equity based compensation 6  
Straight-line income, net (342) (543)
Payment of leasing fees (255) (89)
Other non-cash adjustments (17) (209)
Changes in assets and liabilities:    
Accounts payable and accrued expenses 1,394 (41)
Accounts and rent receivable 1,312 (506)
Due to related parties 788 (5,964)
Other liabilities 1,266 (398)
Other assets 430 429
Net cash flows provided by operating activities 17,139 4,661
Cash flows from investing activities:    
Purchase of investment properties (41,556) (534)
Capital expenditures (707) (2,884)
Other assets and restricted escrows 196 2,169
Net cash flows used in investing activities (42,067) (1,249)
Cash flows from financing activities:    
Payment of credit facility (2,000) (85,000)
Proceeds from credit facility 45,500  
Proceeds from mortgages payable   56,727
Payment of mortgages payable (44) (11,956)
Proceeds from the distribution reinvestment plan 6,780 6,924
Shares repurchased (2,803) (1,897)
Payment of offering costs   (201)
Distributions paid (13,070) (12,910)
Payment of deferred investment property acquisition obligations (3,779) (3,375)
Payment of debt issuance costs (237) (587)
Net cash flows provided by (used in) financing activities 30,347 (52,275)
Net increase (decrease) in cash and cash equivalents 5,419 (48,863)
Cash and cash equivalents at beginning of the period 10,861 83,843
Cash and cash equivalents, at end of period 16,280 34,980
Supplemental disclosure of cash flow information:    
Land 11,155  
Building and improvements 27,475 449
Acquired in place lease intangibles 4,945 85
Acquired above market lease intangibles 2,139  
Acquired below market lease intangibles (4,141)  
Assumed liabilities (17)  
Purchase of investment properties 41,556 534
Cash paid for interest 5,696 4,833
Supplemental schedule of non-cash investing and financing activities:    
Distributions payable $ 4,523 4,412
Accrued offering costs payable   $ 2