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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 income (loss) $ (19,548) $ (879) $ (17,186)
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:      
Depreciation and amortization 47,341 32,614 29,220
Gain on sale of real estate 0 (14,491) 0
Foreign currency (gains) losses 617 438 (494)
(Gain) loss on derivative instruments 2,292 272 372
(Gain) loss on investments in real estate-related securities (2,317) 401 0
Changes in assets and liabilities:      
Change in other assets (1,827) 1,167 (1,190)
Change in tenant and other receivables (2,982) (737) (4,479)
Change in deferred leasing costs (7,199) (12,460) (4,415)
Change in accounts payable and accrued expenses 90 7,432 4,964
Change in other liabilities (2,946) (519) (9)
Change in due to affiliates 3,890 6,004 (92)
Net cash from (used in) operating activities 17,411 19,242 6,691
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investments in acquired properties and lease intangibles (620,974) (206,782) (192,867)
Capital expenditures at operating properties (8,487) (14,977) (4,204)
Proceeds from sale of real estate 0 37,087 0
Purchases of real estate-related securities (45,200) (11,307) 0
Proceeds from settlement of real estate-related securities 20,625 1,306 0
Net cash used in investing activities (654,036) (194,673) (197,071)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 392,897 44,324 138,192
Redemption of common shares (15,545) (12,533) (20,270)
Payment of offering costs (5,684) 0 (3,810)
Payment of selling commissions, dealer manager fees and distribution and stockholder servicing fees (12,373) (3,306) (7,154)
Distributions paid to stockholders and noncontrolling interests (15,335) (10,410) (8,951)
Proceeds from notes payable 327,114 131,312 63,572
Payments on notes payable (30,996) (1,700) (1,650)
Proceeds from related party note payable 134,000 90,500 58,200
Payments on related party note payable (114,000) (46,700) (103,000)
Change in security deposit liability 167 (6) (63)
Deferred financing costs paid (3,692) (1,674) (1,028)
Payments related to interest rate contracts (209) (283) (233)
Net cash from financing activities 656,344 189,524 113,805
Effect of exchange rate changes on cash, restricted cash and cash equivalents (267) (1,660) 1,415
Net change in cash, restricted cash and cash equivalents 19,452 12,433 (75,160)
Cash, restricted cash and cash equivalents, beginning of year 36,986 24,553 99,713
Cash, restricted cash and cash equivalents, end of year $ 56,438 $ 36,986 $ 24,553