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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net (loss) income $ (7,506,000) $ 71,982,000 $ 80,867,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization (including below-market ground leases) 50,378,000 55,394,000 52,819,000
Amortization of deferred financing costs 2,095,000 2,052,000 1,950,000
Loss on extinguishment of debt 0 10,827,000 0
Unrealized loss on other real estate related investments 7,102,000 0 0
Amortization of stock-based compensation 5,758,000 10,832,000 3,790,000
Straight-line rental income (17,000) (32,000) (77,000)
Adjustment for collectibility of rental income 1,417,000 0 0
Noncash interest income (1,165,000) (155,000) 0
Loss on sale of real estate, net 3,769,000 77,000 37,000
Interest income distribution from other real estate investment 0 0 1,346,000
Impairment of real estate investments 79,062,000 0 0
Provision for loan losses, net 3,844,000 0 0
Change in operating assets and liabilities:      
Accounts and other receivables 604,000 (562,000) 825,000
Prepaid expenses and other assets, net 123,000 399,000 387,000
Accounts payable, accrued liabilities and deferred rent liabilities (1,049,000) 6,057,000 3,791,000
Net cash provided by operating activities 144,415,000 156,871,000 145,735,000
Cash flows from investing activities:      
Acquisitions of real estate, net of deposits applied (21,915,000) (192,718,000) (89,650,000)
Purchases of equipment, furniture and fixtures and improvements to real estate (7,292,000) (6,013,000) (8,297,000)
Investment in real estate related investments and other loans receivable (149,650,000) (1,253,000) (30,498,000)
Principal payments received on other loans receivable 6,308,000 393,000 80,928,000
Repayment of other real estate investment 0 0 2,327,000
Escrow deposits for potential acquisitions of real estate 0 0 (3,000,000)
Net proceeds from sales of real estate 45,149,000 6,958,000 6,608,000
Net cash used in investing activities (127,400,000) (192,633,000) (41,582,000)
Cash flows from financing activities:      
Proceeds from (costs paid for) the issuance of common stock, net 47,236,000 22,946,000 (404,000)
Proceeds from the issuance of senior unsecured notes payable 0 400,000,000 0
Borrowings under unsecured revolving credit facility 160,000,000 220,000,000 65,000,000
Payments on senior unsecured notes payable 0 (300,000,000) 0
Payments on unsecured revolving credit facility (115,000,000) (190,000,000) (75,000,000)
Payments on debt extinguishment and deferred financing costs (5,361,000) (14,095,000) 0
Net-settle adjustment on restricted stock (4,469,000) (1,331,000) (1,996,000)
Dividends paid on common stock (106,138,000) (100,782,000) (93,161,000)
Net cash (used in) provided by financing activities (23,732,000) 36,738,000 (105,561,000)
Net (decrease) increase in cash and cash equivalents (6,717,000) 976,000 (1,408,000)
Cash and cash equivalents as of the beginning of period 19,895,000 18,919,000 20,327,000
Cash and cash equivalents as of the end of period 13,178,000 19,895,000 18,919,000
Supplemental disclosures of cash flow information:      
Interest paid 25,912,000 22,838,000 21,691,000
Supplemental schedule of noncash investing and financing activities:      
Increase in dividends payable 1,265,000 2,033,000 2,568,000
Right-of-use asset obtained in exchange for new operating lease obligation 0 0 599,000
Transfer of pre-acquisition costs to acquired assets 7,000 358,000 168,000
Sale of real estate settled with notes receivable $ 12,000,000 $ 0 $ 32,400,000