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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Net loss $ (4,645) $ (5,236)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 52,127 44,511
Amortization of in-place lease assets 31,023 19,208
Amortization of deferred leasing costs 1,111 1,028
Amortization (including accelerated write-off) of deferred financing costs 6,129 5,368
Amortization of mortgage (premiums) and discounts on borrowings, net 161 (644)
Accretion of market lease and other intangibles, net (2,680) (1,976)
Equity-based compensation 7,021 9,630
Gain on non-designated derivatives (2,250) 0
Gain on sale/exchange of real estate investments (67,007) (297)
Impairment of real estate investments 64,896 91
Payments of prepayment costs on mortgages 0 0
Changes in assets and liabilities:    
Straight-line rent receivable (2,758) (3,627)
Straight-line rent payable 135 141
Prepaid expenses and other assets 4,354 (3,753)
Accounts payable and accrued expenses 18,438 682
Deferred rent and other liabilities (1,449) 231
Net cash provided by operating activities 104,606 65,357
Cash flows from investing activities:    
Capital expenditures (4,848) (4,169)
Investments in real estate and other assets (954,747) (65,987)
Proceeds from sale of real estate investments 273,345 2,929
Deposits for real estate investments (103) (2,846)
Net cash used in investing activities (686,353) (70,073)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 0 239,928
Payments on mortgage notes payable (10,054) (109,582)
Proceeds from credit facility 513,000 0
Payments on credit facility (25,000) (125,114)
Payments of financing costs and deposits (2,896) (10,013)
Common stock repurchases 0 (560)
Distributions on LTIP Units and Class A Units (437) (263)
Net cash provided by financing activities 431,948 43,273
Net change in cash, cash equivalents and restricted cash (149,799) 38,557
Cash, cash equivalents and restricted cash beginning of period 236,849 113,397
Cash, cash equivalents and restricted cash end of period 87,050 151,954
Cash, cash equivalents and restricted cash end of period    
Cash and cash equivalents 69,431 137,138
Restricted cash 17,619 14,816
Cash, cash equivalents and restricted cash end of period 87,050 151,954
Supplemental Disclosures:    
Cash paid for interest, net of amounts capitalized 43,895 35,510
Cash paid for income and franchise taxes 1,100 1,063
Non-Cash Investing and Financing Activities:    
Shares subject to repurchase issued in acquisition 49,965 0
Adjustments to redemption value 3,423 0
Proceeds from real estate sales used to pay off related mortgage notes payable 940 0
Mortgage notes payable released in connection with disposition of real estate (940) 0
Mortgages assumed in acquisition (including net discounts of $1,466) 312,246 0
Application of deposits for real estate acquisitions 23,750 0
Increase in accounts payable related to 2021 OPP 0 1,936
Accrued contingent consideration on acquired properties in the CIM Portfolio Acquisition 10,840 0
Accrued capital expenditures 371 2,642
Series A preferred stock    
Cash flows from financing activities:    
Dividends paid on preferred stock (7,438) (7,410)
Class A common stock offering costs (85) 0
Proceeds from issuance of preferred stock, net 0 2,215
Non-Cash Investing and Financing Activities:    
Accrued stock offering costs 37 8
Preferred stock dividend declared 3,719 3,719
Series C preferred stock    
Cash flows from financing activities:    
Dividends paid on preferred stock (4,236) (2,263)
Class A common stock offering costs (102) 0
Proceeds from issuance of preferred stock, net 17 25,605
Non-Cash Investing and Financing Activities:    
Accrued stock offering costs 33 14
Preferred stock dividend declared 2,118 2,118
Class A common stock    
Cash flows from financing activities:    
Dividends paid on Class A common stock (55,276) (46,250)
Class A common stock offering costs (491) 0
Proceeds from issuance of Class A common stock, net 24,946 76,980
Non-Cash Investing and Financing Activities:    
Accrued stock offering costs $ 38 $ 8