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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ 4,163 $ (37,471) $ (46,577)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation 78,396 84,482 85,175
Amortization of in-place lease assets 44,795 54,439 68,477
Amortization of deferred leasing costs 1,522 986 375
Amortization (including accelerated write-off) of deferred financing costs 7,598 5,648 6,693
Accretion of mortgage premiums and discounts on borrowings (3,816) (3,790) (4,096)
Discount accretion and premium amortization on investments, net 0 0 (25)
Amortization (accretion) of market lease and other intangibles, net (7,372) (15,518) (5,173)
Equity-based compensation 12,717 5,266 128
Vesting and conversion of Class B Units 0 15,786 0
Mark-to-market adjustments 0 (72) (130)
Gain on sale of real estate investments (23,690) (31,776) (15,128)
Impairment of real estate investments 2,432 21,080 25,049
Payments of prepayment costs on mortgages 4,491 4,224 0
Changes in assets and liabilities:      
Straight-line rent receivable (9,521) (9,596) (7,840)
Straight-line rent payable 1,196 95 96
Prepaid expenses and other assets (3,208) (4,086) 2,575
Accounts payable and accrued expenses (1,458) 1,694 (7,780)
Deferred rent and other liabilities (2,675) 3,646 (9,355)
Net cash provided by operating activities 105,570 95,037 92,464
Cash flows from investing activities:      
Proceeds from the settlement of CMBS 0 0 17,200
Capital expenditures (13,652) (10,426) (8,917)
Acquisitions of investments in real estate and other assets (428,939) (241,772) (149,337)
Proceeds from sale of real estate investments 34,813 66,455 190,801
Deposits 2,952 (2,472) (565)
Cash paid in merger transaction 0 0 (94,504)
Cash acquired in merger transaction 0 0 26,163
Net cash used in investing activities (404,826) (188,215) (19,159)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 286,930 29,887 267,350
Payments on mortgage notes payable (69,144) (47,197) (21,841)
Proceeds from credit facility 233,000 324,700 85,000
Payments on credit facility (224,553) (95,000) (294,000)
Payments of financing costs (10,778) (7,031) (4,948)
Payments of prepayment costs on mortgages (4,491) (4,224) 0
Common stock repurchases (274) (20,531) (29,058)
Distributions on LTIP Units and Class A Units (694) (225) 0
Distributions paid (117,140) (104,824) (87,659)
Dividends paid on preferred stock (3,948) 0 0
Proceeds from issuance of common stock, net 31,601 0 0
Proceeds from issuance of preferred stock, net 168,956 0 0
Net cash provided by (used in) financing activities 289,465 75,555 (85,156)
Net change in cash and cash equivalents (9,791) (17,623) (11,851)
Cash, cash equivalents and restricted cash, beginning of period 109,631 127,254 139,105
Cash, cash equivalents and restricted cash, end of period 99,840 109,631 127,254
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 81,898 91,451 107,666
Restricted cash 17,942 18,180 19,588
Supplemental Disclosures:      
Cash paid for interest 72,826 63,839 57,017
Cash paid for income taxes 217 1,100 827
Non-Cash Investing and Financing Activities:      
Accrued Preferred Stock offering costs 27 0 0
Preferred dividend declared but not yet paid 3,300 80  
Equity issued in the merger transaction 0 0 921,930
Credit facility assumed or used to acquire investments in real estate 0 0 304,000
Proceeds from real estate sales used to pay off related mortgage notes payable 94,940 90,038 103,041
Mortgage notes payable released in connection with disposition of real estate (94,940) (90,038) (103,041)
Mortgage notes payable assumed or used to acquire investments in real estate 0 0 127,651
Premiums on assumed mortgage notes payable 0 0 4,143
Common stock issued through distribution reinvestment plan 0 23,248 55,853
Accrued capital expenditures (payable) 355 341 933
Preferred Stock | Dividend Declared      
Non-Cash Investing and Financing Activities:      
Preferred dividend declared but not yet paid $ 3,300 $ 0 $ 0