Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 181 $ 390
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,123 3,744
Amortization of deferred financing costs 366 135
Amortization of deferred rent assets and liabilities, net (189) (129)
Allowance for doubtful accounts 0 72
Loss on disposal of real estate asset 78 0
Changes in operating assets and liabilities:    
Other assets 492 (153)
Accounts payable, accrued expenses, and due to related parties 541 (273)
Other liabilities 1,079 4,126
Net cash provided by operating activities 7,671 7,912
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of new real estate (120,985) (69,174)
Capital expenditures on existing real estate (3,438) (10,126)
Proceeds from sale of real estate 0 156
Change in deposits on real estate acquisitions and investments, net (865) (617)
Net cash used in investing activities (125,288) (79,761)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of equity 40,421 360
Offering costs (1,962) (242)
Payment for redemption of OP Units (2,270) 0
Borrowings from mortgage notes and bonds payable 104,590 28,953
Repayments on mortgage notes and bonds payable (4,663) (2,606)
Borrowings from lines of credit 52,500 44,700
Repayments on lines of credit (63,950) (22,300)
Proceeds from issuance of mandatorily-redeemable preferred stock 0 28,750
Payment of financing fees (604) (1,292)
Distributions paid on common stock (4,557) (3,676)
Distributions paid to non-controlling interests in Operating Partnership (568) (234)
Payment of contingent consideration 0 (700)
Net cash provided by financing activities 118,937 71,713
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,320 (136)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,438 2,533
CASH AND CASH EQUIVALENTS AT END OF PERIOD 3,758 2,397
NON-CASH INVESTING AND FINANCING INFORMATION:    
Issuance of non-controlling interests in operating partnership in conjunction with acquisitions 0 11,763
Real estate additions included in Other assets 15 0
Real estate additions included in Accounts payable, accrued expenses, and due to related parties 1,140 390
Loss on disposal of real estate asset included in Accounts payable, accrued expenses, and due to related parties 23 0
Real estate additions included in Other liabilities 506 809
Common stock offering and OP Unit issuance costs included in Accounts payable, accrued expenses, and due to related parties 237 31
Financing fees included in Accounts payable, accrued expenses, and due to related parties $ 54 $ 59