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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,001) $ (1,930)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation, depletion, and other amortization 1,487 317
Amortization of deferred financing fees and discounts/premiums on debt 65 200
Amortization of net origination fees related to notes receivable (1) (3)
Amortization of below market leases   (43)
Stock based compensation 428 243
Loss on disposition of assets (3)  
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 2,117 (1,018)
Increase in interest receivable 52 4
Increase in other assets (822) (192)
Decrease in inventory 183 24
Increase in accrued interest 338 857
(Increase) decrease in accrued expenses (13,759) 9
Increase in deferred revenue 9,094 7,234
Increase in accrued property taxes 211 78
Net cash (used in) provided by operating activities (2,611) 5,780
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate acquisitions (79,220) (93,187)
Real estate and other improvements (3,947) (698)
Principal receipts on notes receivable 801 50
Issuance of notes receivable (2,255)  
Net cash used in investing activities (84,621) (93,835)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from mortgage notes payable 52,918 159,000
Repayments on mortgage notes payable   (56,000)
Payment of offering costs (91)  
Payment of debt issuance costs (545) (667)
Dividends on common stock (2,212) (1,527)
Distribution on Preferred Units (2,915)  
Distributions to non-controlling interests in operating partnership, common (726) (533)
Net cash provided by financing activities 46,429 100,273
NET (DECREASE) INCREASE IN CASH (40,803) 12,218
CASH, BEGINNING OF PERIOD 47,166 23,514
CASH, END OF PERIOD 6,363 35,732
Cash paid during period for interest 2,461 2,804
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable 4,991  
Additions to real estate improvements included in accrued expenses 2,140 51
Financing fees included in accrued expenses   3
Issuance of common stock and equity from non-controlling interests in operating partnership in conjunction with acquisitions 181,178 145,826
Deferred offering costs amortized through equity in the period 60  
Real estate acquisition costs included in accrued expenses 42 6
Offering costs included in accrued expenses 119  
Common stock    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable 4,137 $ 2,404
Distributions payable $ 855