Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (4,034) $ (1,877)
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:    
Depreciation 2,691 2,938
Amortization 1,025 1,861
Loan cost amortization 3,642 310
Net changes in fair value of warrant 347 0
Above (below) market lease amortization, net (12) (273)
Straight-line expense 9 46
(Gain) loss on disposal of properties (176) 26
Credit losses on operating lease receivables 119 154
Impairment of assets held for sale 0 600
Net changes in assets and liabilities:    
Rents and other tenant receivables, net 1,987 639
Unbilled rent (459) 11
Deferred costs and other assets, net (1,316) (1,163)
Accounts payable, accrued expenses and other liabilities 916 (49)
Net cash provided by operating activities 4,739 3,223
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (962) (326)
Cash received from disposal of properties 3,937 1,665
Net cash provided by investing activities 2,975 1,339
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments for deferred financing costs (4,193) (326)
Loan proceeds 40,150 13,350
Loan principal payments (35,440) (15,939)
Preferred stock redemption (6,103) 0
Loan prepayment penalty 687 0
Net cash used in financing activities (6,273) (2,915)
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,441 1,647
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 42,768 21,591
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 44,209 23,238
Non-Cash Transactions:    
Paycheck Protection Program forgiveness 552 0
Initial fair value of warrants 2,018 0
Conversion of common units to common stock 9 0
Accretion of Preferred Stock discounts 162 170
Preferred Stock Redemption Discount 4,389 0
Other Cash Transactions:    
Cash paid for interest 5,301 4,100
Cash, cash equivalents, and restricted cash $ 44,209 $ 23,238