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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss attributable to common stockholders $ (3,253) $ (2,213)
Adjustments to reconcile net loss attributable to common stockholders to net cash used in operating activities:    
Depreciation and amortization 601 940
Stock-based compensation expense 194 212
Deferred rents receivable (15) 17
Other non-cash adjustments - pension expense 112 116
Unrealized gain on warrants (1,200) 0
Equity in net loss from unconsolidated joint venture 991 221
Distribution from unconsolidated joint venture 305 12
(Increase) decrease in operating assets:    
Receivables (5) 93
Prepaid expenses and other assets, net 324 441
(Decrease) increase in operating liabilities:    
Accounts payable and accrued expenses (2,378) 47
Pension liabilities (109) (204)
Net cash used in operating activities (4,433) (318)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate (18,244) (21,890)
Deferred real estate deposits 3,508 11,357
Investment in unconsolidated joint venture (10,575) 0
Net cash used in investing activities (25,311) (10,533)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans and corporate facility 53,118 14,760
Proceeds from line of credit 0 3,037
Payment of finance costs (77) (26)
Repayment of loan (15,368) 0
Settlement of stock awards (644) (563)
Stock buy-back (134) 0
Net cash provided in financing activities 36,895 17,208
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 7,151 6,357
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 18,670 14,025
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 25,821 20,382
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 9,196 11,496
RESTRICTED CASH, BEGINNING OF PERIOD 9,474 2,529
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 18,670 14,025
CASH AND CASH EQUIVALENTS, END OF PERIOD 11,192 8,884
RESTRICTED CASH, END OF PERIOD 14,629 11,498
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 25,821 20,382
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for: Interest 3,813 2,568
Cash paid during the period for: Taxes 63 105
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accrued development costs included in accounts payable and accrued expenses 8,905 9,106
Capitalized amortization of deferred financing costs and lease commissions 968 715
Capitalized stock-based compensation expense 86 120
Right-of-use asset 0 2,147
Lease liabilities $ 0 $ (2,315)