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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Operating Activities:      
Net (loss) income $ (1,647) $ 804  
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation of building and improvements 5,062 5,031  
Amortization of tenant origination and absorption costs 5,967 5,967  
Amortization of above and below market leases (1,158) (1,158)  
Amortization of deferred financing costs 394 274  
Deferred rent (1,132) (2,935)  
Stock based compensation 106 24  
Unrealized loss on interest rate swap 0 77  
Performance distribution allocation (non-cash) 1,920 1,030  
Change in operating assets and liabilities:      
Other assets, net 1,646 1,797  
Accrued expenses and other liabilities, net (7,994) (2,338)  
Due to affiliates, net (3,866) (60)  
Net cash (used in) provided by operating activities (702) 8,513  
Investing Activities:      
Restricted reserves 147 (98)  
Improvements to real estate 0 (1)  
Payments for construction in progress (270) (83)  
Net cash used in investing activities (123) (182)  
Financing Activities:      
Proceeds from borrowings - Term Loan 10,000 0  
Issuance of common stock, net of offering costs (1,115) (911)  
Financing deposits 0 (5,275)  
Repurchase of common stock 0 (1,987)  
Distributions paid to common stockholders (8,941) (4,943)  
Distributions paid to noncontrolling interests (19) (3)  
Net cash used in financing activities (75) (13,119)  
Net decrease in cash, cash equivalents and restricted cash (900) (4,788)  
Cash, cash equivalents and restricted cash at the beginning of the period 41,527 46,050 $ 46,050
Cash, cash equivalents and restricted cash at the end of the period 40,627 41,262 41,527
Supplemental Disclosures of Significant Non-Cash Transactions:      
Increase in fair value swap agreement 0 74  
(Decrease) increase in distribution payable to common stockholders (1,748) 56  
Common stock issued pursuant to the distribution reinvestment plan 3,323 5,483 $ 0
Operating partnership units issued $ 3,904 $ 1,185