Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 287 $ (8,144)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities    
Depreciation 11,317 12,020
Amortization 5,974 9,299
Loan cost amortization 1,097 1,707
Above (below) market lease amortization, net (461) (1,261)
Straight-line expense 184 188
Share-based compensation 0 2
Gain on disposal of properties (23) (1,394)
Credit losses on operating lease receivables 1,131 449
Impairment of notes receivable 0 5,000
Impairment of assets held for sale 600 1,598
Net changes in assets and liabilities:    
Rent and other tenant receivables, net (2,402) (1,592)
Unbilled rent (1,076) (100)
Deferred costs and other assets, net (661) (312)
Accounts payable, accrued expenses and other liabilities (187) (2,205)
Net operating cash flows used in discontinued operations 0 (2)
Net cash provided by operating activities 15,780 15,253
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment property acquisitions 0 (24)
Capital expenditures (2,271) (2,711)
Cash received from disposal of properties 4,508 3,584
Cash received from disposal of properties-discontinued operations 0 19
Net cash provided by investing activities 2,237 868
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments for deferred financing costs (3,143) (779)
Loan proceeds 38,350 31,665
Loan principal payments (31,493) (43,415)
Preferred stock redemption (1,106) 0
Paycheck Protection Program proceeds 552 0
Net cash provided by (used in) financing activities 3,160 (12,529)
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 21,177 3,592
CASH, CASH EQUIVALENTS AND RESTRICTED CASH , beginning of year 21,591 17,999
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year 42,768 21,591
Non-cash Transactions:    
Conversion of common units to Common Stock 21 2
Accretion of Preferred Stock discounts 677 680
Deemed contribution related to preferred stock discount 726 0
Other Cash Transactions:    
Cash paid for taxes 15 6
Cash paid for interest 15,889 17,379
Cash, cash equivalents, and restricted cash $ 21,591 $ 21,591