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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
OPERATING ACTIVITIES      
Net income $ 1,566,000 $ 4,358,000 $ 19,653,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sales (2,942,000) (4,864,000) (7,099,000)
Impairment charges 8,938,000 20,689,000 9,538,000
Early extinguishment of debt costs   4,829,000 210,000
Straight-line rents and expenses, net (265,000) (1,142,000) (864,000)
Provision for doubtful accounts 412,000 2,273,000 1,715,000
Depreciation and amortization 45,861,000 40,053,000 40,115,000
Amortization of intangible lease liabilities, net (2,827,000) (4,361,000) (2,518,000)
Expense relating to share-based compensation, net 4,117,000 3,763,000 3,552,000
Amortization of premium on mortgage loan payable   (80,000) (130,000)
Amortization of deferred financing costs 1,286,000 1,224,000 1,325,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Rents and other receivables (812,000) (3,902,000) (3,467,000)
Prepaid expenses and other (3,037,000) (6,591,000) (4,600,000)
Accounts payable and accrued liabilities 1,378,000 1,651,000 (337,000)
Net cash provided by operating activities 53,675,000 57,900,000 57,093,000
INVESTING ACTIVITIES      
Acquisition of real estate (9,083,000) (179,000) (32,442,000)
Expenditures for real estate improvements (31,910,000) (30,377,000) (25,561,000)
Net proceeds from sales of real estate 18,651,000 19,118,000 12,506,000
Issuance of mortgage note receivable   (3,500,000)  
Net cash (used in) investing activities (22,342,000) (14,938,000) (45,497,000)
FINANCING ACTIVITIES      
Repayments under revolving credit facility (21,000,000) (123,500,000) (185,500,000)
Advances under revolving credit facility 27,000,000 168,500,000 168,500,000
Advance under term loan   75,000,000  
Mortgage repayments (1,027,000) (80,330,000) (10,294,000)
Payment of early extinguishment of debt costs   (5,159,000)  
Payments of debt financing costs   (705,000) (2,502,000)
Noncontrolling interests:      
Distributions to limited partners (111,000) (90,000) (70,000)
Redemption of OP Units (43,000) (7,000) (24,000)
Net proceeds from sale of preferred stock     120,432,000
Redemptions of preferred stock   (50,016,000) (112,510,000)
Common stock sales less issuance expenses, net 22,000 9,000 43,166,000
Common stock repurchases (6,844,000) (2,329,000)  
Preferred stock dividends (10,752,000) (11,276,000) (13,656,000)
Distributions to common shareholders (17,808,000) (18,301,000) (17,681,000)
Net cash (used in) financing activities (30,563,000) (48,204,000) (10,139,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 770,000 (5,242,000) 1,457,000
Cash, cash equivalents and restricted cash at beginning of year 1,977,000 7,219,000 5,762,000
Cash, cash equivalents and restricted cash at end of year 2,747,000 1,977,000 7,219,000
Reconciliation to consolidated balance sheets:      
Cash and cash equivalents 2,747,000 1,977,000 3,702,000
Restricted cash     3,517,000
Cash, cash equivalents and restricted cash at end of year $ 2,747,000 $ 1,977,000 $ 7,219,000