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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 9,158 $ 5,999 $ 1,689
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 7,792 1,554 893
Amortization of discounts/premiums on debt 227 236 155
Amortization of net origination fees related to notes receivable (16) (3) (12)
Amortization of below market leases   (72) (187)
Stock based compensation 1,392 1,224 942
Loss on disposition of assets 200   2
Bad debt expense 300 150  
Changes in operating assets and liabilities:      
(Increase) in accounts receivable (1,105) (3,628) (77)
(Increase) decrease in interest receivable (331) (79) 8
(Increase) in other assets (892) (306) (41)
Decrease (increase) in inventory 257 (34) (249)
Increase in accrued interest payable 1,655 856 443
(Decrease) increase in accrued expenses (15,307) 2,598 208
(Decrease) increase in deferred revenue (2,164) (3,829) 3,446
(Decrease) Increase in accrued property taxes (237) 375 475
Net cash provided by operating activities 929 5,041 7,695
CASH FLOWS FROM INVESTING ACTIVITIES      
Real estate acquisitions (206,166) (131,776) (109,309)
Real estate improvements (21,576) (5,670) (7,574)
Principal receipts on notes receivable   50  
Issuance of notes receivable (6,570)   (2,830)
Origination fees on notes receivable     50
Casualty loss insurance recovery 205    
Payment of direct costs related to note receivable     (27)
Net cash used in investing activities (234,107) (137,396) (119,690)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings from mortgage notes payable 212,190 207,387 82,475
Repayments on mortgage notes payable (81,219) (84,750) (9,128)
Common stock repurchased (10,000)   (21)
Proceeds from underwritten public offering   33,276 35,112
Proceeds from issuance of Series B Participating Preferred Stock 144,523    
Proceeds from ATM offering   11,110  
Payment of offering costs (573) (423) (781)
Payment of debt issuance costs (1,293) (1,116) (239)
Dividends on common stock (14,688) (6,600) (4,428)
Distributions on Series A preferred units (2,915)    
Dividends on Series B participating preferred stock (3,346)    
Refund of outstanding debt     300
Distributions to non-controlling interests in operating partnership (3,131) (2,877) (1,517)
Net cash provided by financing activities 239,548 156,007 101,773
NET INCREASE (DECREASE) IN CASH 6,370 23,652 (10,222)
CASH, BEGINNING OF PERIOD 47,166 23,514 33,736
CASH, END OF PERIOD 53,536 47,166 23,514
Cash paid during period for interest 11,827 8,865 4,020
Cash paid during period for taxes     10
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Deferred offering costs amortized through equity in the period 420 565  
Additions to real estate improvements included in accrued expenses 1,375 956 429
Issuance of equity and contributions from redeemable non-controlling interests and non-controlling interest in operating partnership in conjunction with acquisitions 181,509 146,592 34,388
Below market lease acquisitions   29 230
Other assets acquired in business combination and asset acquisitions 1,759   110
Accounts receivable acquired in acquisitions 896   107
Property tax liability assumed in acquisitions 596 86 48
Deferred financing costs included in accrued expenses 16 54 3
Offering costs included in accrued expenses 13 90  
Common stock      
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Dividends payable 4,243 2,212 $ 2,060
Common Unit Holders      
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Dividends payable 604 726  
Preferred Units      
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:      
Distibutions payable, Series A preferred units $ 3,510 $ 2,915