Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (318) $ 173
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 2,189 1,472
Amortization of debt issuance costs 143 116
Amortization of deferred rent assets and liabilities, net (90) (50)
Bad debt expense 1 0
Property and casualty loss 129 0
Changes in operating assets and liabilities:    
Crop inventory and Other assets, net (1,659) (150)
Accounts payable and accrued expenses and Due to related parties, net (1,132) (187)
Other liabilities, net 3,488 1,372
Net cash provided by operating activities 2,751 2,746
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of new real estate (5,032) (53,532)
Capital expenditures on existing real estate (4,478) (468)
Change in deposits on real estate acquisitions and investments, net 200 (215)
Net cash used in investing activities (9,310) (54,215)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of equity 17,486 20,722
Offering costs (685) (1,054)
Payments for redemption of OP Units (400) 0
Borrowings from mortgage notes and bonds payable 1,260 32,400
Repayments of mortgage notes and bonds payable (3,118) (2,231)
Borrowings from lines of credit 7,500 23,000
Repayments of lines of credit (13,600) (19,500)
Payments of financing fees (163) (274)
Distributions paid on common stock (1,851) (1,372)
Distributions paid to non-controlling interests in Operating Partnership (129) (187)
Net cash provided by financing activities 6,300 51,504
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (259) 35
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,938 2,438
CASH AND CASH EQUIVALENTS AT END OF PERIOD 2,679 2,473
NON-CASH INVESTING AND FINANCING INFORMATION:    
Real estate additions included in Accounts payable and accrued expenses and Due to related parties, net 4,621 199
Real estate additions included in Other liabilities, net 33 0
Stock offering and OP Unit issuance costs included in Accounts payable and accrued expenses and Due to related parties, net 109 171
Financing fees included in Accounts payable and accrued expenses and Due to related parties, net $ 48 $ 22