XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 29,918 $ 52,105
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,072 44,017
Amortization of deferred financing costs and debt fair value 917 869
Amortization of above and below market leases 70 281
Straight-line rent/expense (6,697) 428
Non-cash stock compensation 2,887 1,976
Receipts from sales-type lease 43,549 0
Net gain on sale of real estate property (21,658) (47,400)
Changes in non-cash working capital:    
Rents receivable, net (3,895) 635
Other assets (158) (560)
Accounts payable and accrued liabilities 6,977 8,558
Deferred rent (2,679) 3,468
Tenant rent deposits 849 1,354
Net Cash Provided By Operating Activities 97,152 65,731
Cash Flows (to)/from Investing Activities:    
Additions to real estate properties (28,533) (12,431)
Acquisition of real estate 0 (43,256)
Net proceeds from sale of real estate 0 122,103
Deferred leasing costs (7,698) (6,830)
Net Cash (Used In)/Provided By Investing Activities (36,231) 59,586
Cash Flows to Financing Activities:    
Proceeds from borrowings 82,000 106,000
Repayment of borrowings (60,472) (180,806)
Dividend distributions paid to stockholders (31,567) (25,117)
Repurchases of common stock (50,082) 0
Distributions to non-controlling interests in properties (1,328) (960)
Shares withheld for payment of taxes on restricted stock unit vesting (87) (216)
Contributions from non-controlling interests in properties 30 12
Net Cash Used In Financing Activities (61,506) (101,087)
Net (Decrease)/ Increase in Cash, Cash Equivalents and Restricted Cash (585) 24,230
Cash, Cash Equivalents and Restricted Cash, Beginning of Period 42,266 45,951
Cash, Cash Equivalents and Restricted Cash, End of Period 41,681 70,181
Reconciliation of Cash, Cash Equivalents and Restricted Cash:    
Cash and Cash Equivalents, End of Period 22,012 17,697
Restricted Cash, End of Period 19,669 52,484
Cash, Cash Equivalents and Restricted Cash, End of Period 41,681 70,181
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 16,660 17,568
Purchase of additions in real estate properties included in accounts payable 10,568 4,804
Purchase of deferred leasing costs included in accounts payable $ 1,904 $ 1,351