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 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 108 $ (318)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 2,597 2,189  
Amortization of debt issuance costs 150 143  
Amortization of deferred rent assets and liabilities, net (80) (90)  
Bad debt expense 6 1  
Loss on dispositions of real estate assets, net 32 0  
Property and casualty loss 0 129  
Changes in operating assets and liabilities:      
Other assets, net (136) (1,659)  
Accounts payable and accrued expenses and Due to related parties, net (2,277) (1,132)  
Other liabilities, net 2,032 3,488  
Net cash provided by operating activities 2,432 2,751  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of new real estate assets (2,304) (5,032)  
Capital expenditures on existing real estate assets (3,063) (4,478)  
Change in deposits on real estate acquisitions and investments, net (350) 200  
Net cash used in investing activities (5,717) (9,310)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of preferred and common equity 18,482 17,486  
Offering costs (1,729) (685)  
Payments for redemptions of OP Units 0 (400)  
Redemption of Series B Preferred Stock (13) 0  
Borrowings from mortgage notes and bonds payable 1,440 1,260  
Repayments of mortgage notes and bonds payable (3,450) (3,118)  
Borrowings from lines of credit 0 7,500  
Repayments of lines of credit 0 (13,600)  
Payments of financing fees (4) (163)  
Dividends paid on Series B cumulative redeemable preferred stock (601) 0  
Distributions paid on common stock (2,409) (1,851)  
Distributions paid to non-controlling interests in Operating Partnership (53) (129)  
Net cash provided by financing activities 11,663 6,300  
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 8,378 (259)  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 14,730 2,938 $ 2,938
CASH AND CASH EQUIVALENTS AT END OF PERIOD 23,108 $ 2,679 14,730
NON-CASH OPERATING, INVESTING, AND FINANCING INFORMATION:      
Operating lease right-of-use assets included in Other assets, net 208    
Operating lease liabilities included in Other liabilities, net 167    
Real estate additions included in Accounts payable and accrued expenses and Due to related parties, net 1,428   4,621
Real estate additions included in Other liabilities, net 0   33
Stock offering and OP Unit issuance costs included in Accounts payable and accrued expenses and Due to related parties, net 58   109
Financing fees included in Accounts payable and accrued expenses and Due to related parties, net $ 11   $ 48