XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (2,503) $ (10,388) $ (11,420)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 48,906 52,834 57,691
Gain on sale of investment properties     (3,279)
Provision for asset impairment     4,420
Amortization of debt issuance costs and mortgage premiums, net 898 614 604
Amortization of acquired market leases, net (773) (2,073) (1,405)
Amortization of equity based compensation 51 68 53
Reduction in the carrying amount of the right-of-use asset 443 465 485
Straight-line income, net (442) (1,769) (1,644)
Other non-cash adjustments 103 55 36
Changes in assets and liabilities:      
Accounts payable and accrued expenses 112 328 (196)
Accounts and rent receivable 3,733 (2,158) (672)
Other assets (983) (1,067) (1,671)
Due to related parties (2,807) 339 2,408
Operating lease liability 361 339 319
Other liabilities 1,051 (447) 1,034
Net cash flows provided by operating activities 48,150 37,140 46,763
Cash flows from investing activities:      
Proceeds from sale of investment properties   37,255 14,872
Capital expenditures (5,883) (4,021) (10,012)
Net cash flows (used in) provided by investing activities (5,883) 33,234 4,860
Cash flows from financing activities:      
Payment of credit facility (8,097) (83,022) (25,001)
Proceeds from credit facility 72,097 31,000 7,500
Payment of mortgages payable (98,074) (928) (7,660)
Proceeds from the distribution reinvestment plan 3,749 4,547 19,642
Shares repurchased (2,777) (2,405) (12,566)
Distributions paid (9,767) (10,841) (44,245)
Payment of debt issuance costs   (273)  
Net cash flows used in financing activities (42,869) (61,922) (62,330)
Net (decrease) increase in cash, cash equivalents and restricted cash (602) 8,452 (10,707)
Cash, cash equivalents and restricted cash, at beginning of the year 13,985 5,533 16,240
Cash, cash equivalents and restricted cash, at end of the year 13,383 13,985 5,533
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 22,456 24,651 27,749
Supplemental schedule of non-cash investing and financing activities:      
Establishment of operating lease right-of-use asset     15,963
Establishment of operating lease liability     23,377
Accrued capital expenditures $ 199 $ 96 727
Accrued SRP     $ 2,278