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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss attributable to common stockholders $ (7,889) $ (2,021) $ (7,436)
Adjustments to reconcile net loss attributable to common stockholders to net cash used in operating activities:      
Depreciation and amortization 2,463 544 457
Amortization of deferred finance costs 532 255 98
Write-off of costs relating to demolished asset 0 1,585 0
Stock-based compensation expense 1,269 1,225 2,782
Gain on sale of real estate 0 (3,853) 0
Deferred rents receivable (36) (5) (343)
Reduction of claims liability 0 0 (135)
Equity in net loss from unconsolidated joint venture 728 1,057 308
Distribution from unconsolidated joint venture 280 419 39
Decrease (Increase) in operating assets:      
Receivables, net 4 (3,197) (189)
Prepaid expenses and other assets, net 286 (2,456) (472)
Increase (decrease) in operating liabilities:      
Accounts payable and accrued expenses 975 212 (1,544)
Pension liabilities (1,283) (1,277) (1,388)
Obligation to former Majority Shareholder 0 0 (6,931)
Net cash used in operating activities (2,671) (7,512) (14,754)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquistion of real estate (81,960) 0 0
Additions to real estate (58,909) (16,788) (11,928)
Deferred real estate deposits 49,247 0 0
Net proceeds from the sale of real estate 0 15,232 0
Investment in unconsolidated joint venture 0 (70) (14,286)
Net cash used in investing activities (91,622) (1,626) (26,214)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from loans 87,037 32,302 9,100
Payment of finance costs (1,820) (5,328) (453)
Repayment of loan 0 (40,000) 0
Settlement of stock awards (1,088) (2,574) (1,966)
Proceeds from sale of common stock, net 0 40,561 880
Net cash provided by financing activities 84,129 24,961 7,561
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (10,164) 15,823 (33,407)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 24,189 8,366 41,773
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 14,025 24,189 8,366
CASH AND CASH EQUIVALENTS, BEGINNING PERIOD 15,273 4,678 38,173
RESTRICTED CASH, BEGINNING OF PERIOD 8,916 3,688 3,600
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 24,189 8,366 41,773
CASH AND CASH EQUIVALENTS, END OF PERIOD 11,496 15,273 4,678
RESTRICTED CASH, END OF PERIOD 2,529 8,916 3,688
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 14,025 24,189 8,366
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid during the period for: Interest 6,969 2,467 2,073
Cash paid during the period for: Taxes 268 135 197
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Accrued development costs included in accounts payable and accrued expenses 16,574 10,175 1,195
Capitalized amortization of deferred financing costs and lease commissions 1,986 487 345
Capitalized stock-based compensation expense 665 1,645 5,024
Adjustment of liability related to stock-based compensation 0 0 (5,140)
Adjustment of accumulated deficit for capitalized stock-based compensation expense $ 0 $ 0 $ (541)