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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (24,089,000) $ (5,092,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 20,195,000 20,685,000
Amortization of deferred financing costs and terminated interest rate swaps 1,346,000 2,451,000
Amortization of mortgage premiums and discounts, net 15,000 (66,000)
Amortization (accretion) amortization of market lease and other intangibles, net 18,000 (50,000)
Bad debt expense 792,000 2,719,000
Equity-based compensation 338,000 322,000
Gain on sale of real estate investments, net (2,306,000) (6,078,000)
(Gain) loss on non-designated derivatives (16,000) 43,000
Impairment charges 18,038,000 0
Changes in assets and liabilities:    
Straight-line rent receivable (1,175,000) (876,000)
Prepaid expenses and other assets 1,289,000 (1,007,000)
Accounts payable, accrued expenses and other liabilities 4,270,000 1,815,000
Deferred rent 237,000 1,644,000
Net cash provided by operating activities 18,952,000 16,510,000
Cash flows from investing activities:    
Property acquisitions and development costs (90,985,000) (33,088,000)
Capital expenditures (11,097,000) (1,787,000)
Proceeds from sales of real estate investments 8,294,000 45,352,000
Net cash (used in) provided by investing activities (93,788,000) 10,477,000
Cash flows from financing activities:    
Payments on credit facilities 0 (243,300,000)
Proceeds from credit facilities 95,000,000 83,618,000
Proceeds from term loan 0 150,000,000
Payments on mortgage notes payable (211,000) (8,413,000)
Payments for derivative instruments (34,000) 0
Payments of deferred financing costs (918,000) (9,083,000)
Common stock repurchases (10,546,000) 0
Distributions paid on common stock (13,225,000) (12,304,000)
Dividends paid on preferred stock (173,000) 0
Distributions to non-controlling interest holders (86,000) (85,000)
Net cash, provided by (used in) financing activities 69,807,000 (39,567,000)
Net change in cash, cash equivalents and restricted cash (5,029,000) (12,580,000)
Cash, cash equivalents and restricted cash, beginning of period 111,599,000 91,358,000
Cash, cash equivalents and restricted cash, end of period 106,570,000 78,778,000
Cash, cash equivalents and restricted cash, end of period 106,570,000 78,778,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 11,144,000 10,365,000
Cash paid for income taxes 140,000 175,000
Non-cash investing and financing activities:    
Common stock issued through distribution reinvestment plan 6,322,000 6,983,000
Mortgage assumed in acquisition $ 13,883,000 $ 0