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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Operating Activities:      
Net income $ 804 $ 3,124  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation of building and improvements 5,031 4,892  
Amortization of tenant origination and absorption costs 5,967 5,631  
Amortization of above and below market leases (1,158) (1,033)  
Amortization of deferred financing costs 274 272  
Deferred rent (2,935) (4,173)  
Stock based compensation 24 140  
Unrealized loss on interest rate swap 77 23  
Performance distribution allocation 1,030 0  
Change in operating assets and liabilities:      
Other assets, net 1,797 2,510  
Accrued expenses and other liabilities, net (2,338) (458)  
Due to affiliates, net (60) 3,263  
Net cash provided by operating activities 8,513 14,191  
Investing Activities:      
Acquisition of properties, net 0 (14,897)  
Restricted reserves (98) (19,976)  
Improvements to real estate (1) 16  
Payments for construction in progress (83) (106)  
Real estate acquisition deposits 0 (200)  
Net cash used in investing activities (182) (35,163)  
Financing Activities:      
Financing deposits (5,275) 0  
Issuance of common stock, net of offering costs (911) 36,052  
Repurchase of common stock (1,987) (1,411)  
Distributions paid to common stockholders (4,943) (4,528)  
Distributions paid to noncontrolling interests (3) (3)  
Net cash (used in) provided by financing activities (13,119) 30,110  
Net (decrease) increase in cash and cash equivalents (4,788) 9,138  
Cash, cash equivalents and restricted cash at the beginning of the period 46,050 63,561 $ 63,561
Cash, cash equivalents and restricted cash at the end of the period 41,262 72,699 $ 46,050
Supplemental Disclosures of Significant Non-Cash Transactions:      
Increase in fair value swap agreement 74 166  
Increase in Stockholder Servicing Fee Payable 82 355  
Increase in distribution payable to common stockholders 56 143  
Common stock issued pursuant to the distribution reinvestment plan 5,483 5,395  
Operating partnership units issued $ 1,185 $ 0