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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net loss $ (5,070) $ (2,156)
Adjustments to reconcile net loss to net cash used in operating activities    
Income tax benefit (704)  
Depreciation and amortization 182 29
Minimum return on basis preferred interest 2,760  
Straight-line rent receivable (30)  
Straight-line rent liability 1 15
Change in fair value of derivatives 130  
Bad debt expense 369 629
Changes in operating assets and liabilities    
Accounts receivable (715) (567)
Other assets (69) (193)
Receivables due from related parties (122) 213
Accounts payable and accrued liabilities (1,960) 563
Payables due to related parties 42 49
Deferred revenues (140) 322
Net cash used in operating activities (5,326) (1,096)
Cash flows from investing activities    
Acquisitions of real estate (69,340)  
Capitalized pre-acquisition costs (946) (246)
Capital expenditures for corporate property (32)  
Net cash used in investing activities (70,318) (246)
Cash flows from financing activities    
Borrowings under debt agreements 91,048 2,028
Repayments under debt agreements (4,668) (522)
Offering costs (1,551) (54)
Debt origination and discount fees (2,272)  
Distributions to members (306) (665)
Proceeds from related parties 6,327 1,452
Payments to related parties (1,477) (760)
Net cash provided by financing activities 87,101 1,479
Increase in cash, cash equivalents, and restricted cash 11,457 137
Cash, cash equivalents and restricted cash at beginning of period 138 1
Cash, cash equivalents and restricted cash at end of period 11,595 138
Supplemental Cash Flow Information    
Interest paid 390 234
Taxes paid, net 4  
Accrued acquisition costs 16  
Accrued deferred loan costs 20  
Accrued offering costs 459 338
Accrued pre-acquisition costs 15 $ 57
Supplemental disclosure of non-cash investing and financing activities    
Reverse acquisition (3,161)  
Acquisition of real estate (82,029)  
Common shares issued in Mergers 58,259  
OP Units issued in Mergers 8,682  
Debt assumed in Mergers $ 18,249