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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net (loss) income $ (22,410) $ (4,223) $ 203
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:      
Real estate-related depreciation and amortization 22,236 3,541 0
Straight-line rent and amortization of above- and below-market leases (4,420) (1,673) 0
Amortization of debt issuance costs 1,054 557 152
Other 362 0 0
Changes in operating assets and liabilities:      
Tenant receivables and other assets (825) (133) (163)
Accounts payable and accrued liabilities 4,417 1,175 110
Due from / to affiliates, net 6,039 3,910 (38)
Net cash provided by operating activities 6,453 3,154 264
Investing activities:      
Real estate acquisitions (533,027) (298,478) 0
Acquisition deposits (500) (675) 0
Capital expenditures (3,376) (800) 0
Net cash used in investing activities (536,903) (299,953) 0
Financing activities:      
Proceeds from line of credit 377,000 203,000 0
Repayments of line of credit (389,000) (84,000) 0
Proceeds from term loan 307,500 0 0
Repayments of notes to shareholders (376) 0 0
Debt issuance costs paid (4,458) (814) (990)
Proceeds from issuance of common stock 283,803 189,309 9,933
Distributions paid to common stockholders and to redeemable noncontrolling interest holders (6,263) (1,404) (102)
Distribution fees paid to affiliates (3,314) (714) (4)
Redemptions of common stock (2,285) (603) 0
Other 0 0 (176)
Net cash provided by financing activities 562,607 304,774 8,661
Net increase in cash, cash equivalents and restricted cash 32,157 7,975 8,925
Cash, cash equivalents, and restricted cash, at beginning of period 19,021 11,046 2,121
Cash, cash equivalents and restricted cash, at end of period $ 51,178 $ 19,021 $ 11,046