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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net income (loss) $ 11,570 $ (5,774) $ 37,044
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of building and building improvements 125,388 93,980 80,394
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs 85,502 67,076 73,031
Amortization of below market leases, net (1,323) (2,292) (3,201)
Amortization of deferred financing costs and debt premium 3,593 2,607 5,562
Amortization of swap interest 126 126 126
Deferred rent (8,718) (25,687) (19,519)
Deferred rent, ground lease 0 2,065 1,640
Termination fee revenue - receivable from tenant, net 0 0 (6,000)
Write-off reserves (1,166) 0 0
(Gain)/loss from sale of depreciable operating property 326 (4,083) (29,940)
Gain on fair value of earn-out (65) (2,657) (1,461)
(Income) loss from investment in unconsolidated entities (8) 2,071 5,307
Investment in unconsolidated entities valuation adjustment 0 4,453 0
Loss from investments 125 31 307
Impairment provision 4,242 23,472 30,734
Performance distribution allocation (non-cash) 0 0 (2,604)
Stock-based compensation 7,469 4,107 2,623
Change in operating assets and liabilities:      
Deferred leasing costs and other assets (13,938) 4,383 (7,775)
Restricted reserves (490) 27 14
Accrued expenses and other liabilities (8,003) 4,203 (9,505)
Due to affiliates, net 349 (3,570) 4,072
Net cash provided by operating activities 204,979 164,538 160,849
Investing Activities:      
Cash acquired in connection with the Company Merger, net of acquisition costs (36,746) 0 25,320
Acquisition of properties, net 0 (16,584) (38,775)
Proceeds from disposition of properties 22,408 51,692 139,446
Restricted reserves 1,078 (1,530) 0
Real estate acquisition deposits 0 1,047 (1,047)
Reserves for tenant improvements 0 0  
Reserves for tenant improvements     1,039
Payments for construction in progress (49,260) (58,938) (46,346)
Investment in unconsolidated joint venture 0 (8,160) 0
Distributions of capital from investment in unconsolidated entities 42 8,531 14,603
Purchase of investments (332) (1,029) (8,422)
Net cash (used in) provided by investing activities (62,810) (24,971) 85,818
Financing Activities:      
Proceeds from borrowings - KeyBank Loans 0 0 627,000
Proceeds from borrowings - Revolver/KeyBank Loans 0 215,000 315,854
Proceeds from borrowings - Term Loan 400,000 0 0
Principal payoff of indebtedness - CCIT II Credit Facility (415,500) 0 0
Principal payoff of secured indebtedness - Revolver Loan 0 (53,000) (104,439)
Principal payoff of secured indebtedness - Mortgage Debt (1,292) 0 0
Principal payoff of Unsecured Credit Facility - EA-1 0 0 (715,000)
Principal amortization payments on secured indebtedness (9,786) (7,362) (6,577)
Deferred financing costs (567) (4,725) (5,737)
Offering costs (47) (594) (2,384)
Repurchase of common stock (25,517) (107,821) (200,013)
Repurchase of noncontrolling interest 0 (1,137) (53)
Issuance of common stock, net of discounts and underwriting costs 0 4,698 8,826
Repurchase of common shares to satisfy employee tax withholding requirements (2,874) (751) 0
Dividends paid on preferred units subject to redemption (9,542) (8,396) (8,188)
Distributions to noncontrolling interests (11,134) (13,290) (16,865)
Distributions to common stockholders (82,976) (72,143) (90,116)
Financing lease payment (100) 0 0
Net cash used in financing activities (159,335) (49,521) (197,692)
Net (decrease) increase in cash, cash equivalents and restricted cash (17,166) 90,046 48,975
Cash, cash equivalents and restricted cash at the beginning of the period 203,306 113,260 64,285
Cash, cash equivalents and restricted cash at the end of the period 186,140 203,306 113,260
Supplemental disclosure of cash flow information:      
Cash paid for interest 80,958 80,155 65,040
Supplemental disclosures of non-cash investing and financing transactions:      
Distributions payable to common stockholders 9,672 6,864 13,035
Distributions payable to noncontrolling interests 946 943 1,758
Common stock issued pursuant to the distribution reinvestment plan 22,886 24,497 41,060
Common stock redemptions funded subsequent to period-end 0 5,345 96,648
Issuance of stock dividends 0 5,747 14,139
Mortgage debt assumed in conjunction with the acquisition of real estate assets plus a premium 0 18,884 0
Accrued for construction in progress 1,114 472 0
Accrued tenant obligations 10,123 30,011 11,802
Limited partnership units issued in exchange for net assets acquired in Self Administration Transaction 0 0 25,000
Change in fair value swap agreement 32,449 (29,704) (22,303)
Decrease in stockholder servicing fee payable 0 (1,388) 0
Net assets acquired in mergers 838,315   751,277
Implied common stock and operating partnership units issued in exchange for net assets acquired in Mergers 838,315 0 751,277
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842     16,919
Capitalized transaction costs paid in prior period $ 2,170 $ 0 $ 0