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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (23,400) $ (11,442)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 20,420 20,102
Amortization of deferred financing costs 1,181 1,071
Amortization of terminated swap 211 211
Amortization of mortgage premiums and discounts, net 107 14
Accretion of market lease and other intangibles, net (122) (34)
Bad debt expense 426 198
Equity-based compensation 332 332
Losses on sale of real estate investments, net 303 172
Gains on non-designated derivative instruments (994) (14)
Impairment charges 10,644 878
Changes in assets and liabilities:    
Straight-line rent receivable (394) (227)
Prepaid expenses and other assets 981 2,724
Accounts payable, accrued expenses and other liabilities (2,045) (1,181)
Deferred rent (1,768) 1,155
Net cash provided by operating activities 5,882 13,959
Cash flows from investing activities:    
Property acquisitions and development costs 0 (6,694)
Capital expenditures and other assets acquired (3,311) (4,029)
Deposits for real estate investments 0 (146)
Proceeds from sales of real estate investments 11,759 0
Net cash provided by (used in) investing activities 8,448 (10,869)
Cash flows from financing activities:    
Payments on mortgage notes payable (3,374) (300)
Payments for derivative instruments (39) (85)
Payments of deferred financing costs (40) (42)
Preferred stock issuance costs (6) (165)
Distributions to non-controlling interest holders (46) 0
Net cash used in financing activities (6,865) (1,334)
Net change in cash, cash equivalents and restricted cash 7,465 1,756
Cash, cash equivalents and restricted cash, beginning of period 85,382 90,346
Cash, cash equivalents and restricted cash, end of period 92,847 92,102
Cash, cash equivalents, end of period 66,424 74,068
Restricted cash, end of period 26,423 18,034
Cash, cash equivalents and restricted cash, end of period 92,847 92,102
Supplemental disclosures of cash flow information:    
Cash paid for interest 10,269 11,156
Cash paid for income taxes 372 149
Non-cash investing and financing activities:    
Common stock issued through stock dividends 21,104 19,926
Series A Preferred Stock    
Cash flows from financing activities:    
Dividends paid on preferred stock (1,833) (742)
Series B Preferred Stock    
Cash flows from financing activities:    
Dividends paid on preferred stock $ (1,527) $ 0