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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (9,001) $ (6,001) $ (12,339)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation 16,765 15,540 13,502
Amortization of deferred financing costs 1,289 2,899 5,200
Amortization of deferred costs and intangible assets 1,715 2,750 3,269
Amortization of above- and below-market leases (1,917) (1,729) (1,730)
Loss on extinguishment of debt 8,872
Gain on involuntary conversion (194)
Deferred rent 1,029 311 56
Stock-based compensation 1,940 3,110 2,523
Change in fair value of interest rate caps (208) 261 (139)
Changes in operating assets and liabilities:      
Restricted cash 4,894 (2,625) (768)
Tenant and other receivables 2,989 (2,084) (3,009)
Prepaid expenses, other assets and deferred costs (2,010) (1,620) (979)
Accounts payable and accrued liabilities (515) (561) 3,656
Security deposits 589 (200) 238
Other liabilities 1,019 389 (130)
Net cash provided by operating activities 27,256 10,440 9,350
CASH FLOWS FROM INVESTING ACTIVITIES      
Additions to land, buildings, and improvements (39,877) (20,276) (18,162)
Insurance proceeds from involuntary conversion 226
Sale and purchase of interest rate caps 356
Cash paid in connection with acquisition of real estate (167,380) (103,123)
Net cash used in investing activities (39,295) (187,656) (121,285)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds and costs from sale of common stock (7) 78,685 (1,590)
(Redemption) sale of preferred stock (145) 132
Payments of mortgage notes (615,167) (3,895) (515,650)
Proceeds from mortgage notes 685,664 94,417 559,500
Dividends and distributions (17,038) (16,565) (9,951)
Loan issuance and extinguishment costs (12,325) (4,888) (8,291)
Net cash provided by financing activities 41,127 147,609 24,150
Net increase (decrease) in cash and cash equivalents 29,088 (29,607) (87,785)
Cash and cash equivalents - beginning of period 7,940 37,547 125,332
Cash and cash equivalents - end of period 37,028 7,940 37,547
Supplemental cash flow information:      
Cash paid for interest, net of capitalized interest of $5,531 and $2,852 in 2018 and 2017, respectively 31,055 33,614 33,536
Non-cash interest capitalized to real estate under development 1,295 920
Additions to investment in real estate included in accounts payable and accrued liabilities $ 5,998 $ 1,528