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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 8,723 $ 1,109
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,120 6,468
Amortization of lease incentive 57 38
Amortization of above/below market leases and right of use assets, net 171 138
Amortization of deferred financing costs and other assets 816 576
Provision for impairment of real estate 1,440 1,849
Gain on dispositions of real estate, net (676) (1,232)
Straight-line rent receivable (2,903) (1,651)
Equity-based compensation expense 1,242 178
Adjustment to rental revenue for tenant credit/allowance for doubtful accounts 4 53
Changes in other assets and liabilities:    
Prepaid expenses and other assets (299) (1,924)
Accrued liabilities and other payables (713) (381)
Net cash provided by operating activities 16,982 5,221
Cash flows from investing activities:    
Proceeds from sales of investments, net 10,481 7,722
Principal collections on loans and direct financing lease receivables 21 18
Investments in loans receivable (207)  
Deposits for prospective real estate investments 1,988 36
Investment in real estate (113,620) (59,071)
Investment in construction in progress (1,135) (5,101)
Lease incentives paid (2,000)  
Capital expenditures (1,276)  
Net cash used in investing activities (105,748) (56,396)
Cash flows from financing activities:    
Proceeds from issuance of notes payable to related parties   45,000
Payments of principal on notes payable to related parties   (50,000)
Repayments of secured borrowings (1,965) (2,066)
Borrowings under revolving credit facility 52,000  
Repayments under revolving credit facility (86,000)  
Deferred financing costs   (18)
Capital contributions by members in Predecessor   50,000
Proceeds from issuance of common stock, net 235,704  
Dividends paid (13,189)  
Net cash provided by financing activities 186,550 42,916
Net increase (decrease) in cash and cash equivalents and restricted cash 97,784 (8,259)
Cash and cash equivalents and restricted cash, beginning of period 16,239 19,430
Cash and cash equivalents and restricted cash, end of period 114,023 11,171
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 109,113 1,842
Restricted cash 4,910 9,329
Cash and cash equivalents and restricted cash, end of period 114,023 11,171
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 6,299 7,700
Cash paid for income taxes   24
Non-cash investing and financing activities:    
Reclassification from construction in progress upon project completion   $ 1,567
Non-cash investments in real estate and loan receivable activity 5,748  
Lease liabilities arising from the recognition of right of use assets 4,822  
Payable and accrued offering costs 1,066  
Underwriters discount on capital raised through issuance of common stock 9,821  
Payable and accrued deferred financing costs 67  
Dividends declared $ 16,145