v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 655 $ (1,872)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:    
Depreciation 3,187 3,173
Amortization 2,629 4,303
Loan cost amortization 392 379
Above (below) market lease amortization, net (226) (22)
Straight Line Rent Adjustments 47 5
Share-based compensation 90 419
Gain on disposal of properties (1,839) (1,055)
Credit losses on operating lease receivables 90 21
Changes in assets and liabilities, net of acquisitions    
Rent and other tenant receivables, net 251 978
Unbilled rent (155) (83)
Related party receivables 0 84
Deferred costs and other assets, net (625) (197)
Accounts payable, accrued expenses and other liabilities (1,778) 371
Net operating cash flows used in discontinued operations (21) (30)
Net cash provided by operating activities 2,697 6,474
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment property acquisitions, net of restricted cash acquired 0 (23,153)
Capital expenditures (285) (1,472)
Cash received from disposal of properties 3,584 1,160
Cash received from disposal of properties-discontinued operations 19 0
Net cash provided by (used in) investing activities 3,318 (23,465)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments for deferred financing costs (28) (128)
Dividends and distributions paid 0 (5,480)
Proceeds from sales of Preferred Stock, net of expenses 0 21,158
Loan proceeds 0 7,403
Loan principal payments (5,350) (848)
Net financing cash flows used in discontinued operations (31) (54)
Net cash (used in) provided by financing activities (5,409) 22,051
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 606 5,060
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 17,999 12,286
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 18,605 17,346
Non-Cash Transactions:    
Debt incurred for acquisitions 0 58,867
Conversion of common units to common stock 0 64
Conversion of Series B Preferred Stock to Common Stock 0 2
Issuance of Common Stock for acquisition 0 1,130
Accretion of preferred stock discounts 170 170
Other Cash Transactions:    
Cash paid for interest $ 4,430 $ 3,911

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