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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net loss $ (4,919) $ (1,157)
Adjustments to reconcile net loss to net cash used in operating activities    
Income tax benefit (1,553)  
Depreciation and amortization 5,221 9
Minimum return on basis preferred interest (488)  
Straight-line rent receivable (480)  
Straight-line rent liability 6 3
Change in fair value of derivatives 704  
Bad debt expense 165 66
Write-off of pre-acquisition costs 150  
Changes in operating assets and liabilities    
Accounts receivable (617) (386)
Other assets 1,109 300
Receivables due from related parties 22 (110)
Accounts payable and accrued liabilities (1,109) 140
Payables due to related parties (11) 35
Deferred revenues (94) (61)
Net cash used in operating activities (1,894) (1,161)
Cash flows from investing activities    
Acquisitions of real estate (1,898)  
Capitalized pre-acquisition costs, net of refunds 34 (483)
Capital expenditures for real estate (1,131)  
Capital expenditures for corporate property   (4)
Net cash used in investing activities (2,995) (487)
Cash flows from financing activities    
Borrowings under debt agreements 5,063  
Repayments under debt agreements (2,909) (146)
Offering costs (1) (83)
Debt origination and discount fees (63)  
Distributions to members   (161)
Proceeds from related parties 1,139 2,342
Payments to related parties (1,040) (15)
Net cash provided by financing activities 2,189 1,937
(Decrease) increase in cash, cash equivalents, and restricted cash (2,700) 289
Cash, cash equivalents and restricted cash at beginning of period 11,595 138
Cash, cash equivalents and restricted cash at end of period 8,895 427
Supplemental Cash Flow Information    
Interest paid 2,781 182
Taxes paid, net 197  
Accrued offering costs 457 870
Accrued pre-acquisition costs 95 360
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 4,764 427
Restricted cash 4,131  
Cash, cash equivalents and restricted cash at end of period $ 8,895 $ 427