| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||
Net income/(loss) | ||||||
2,442 | 38,669 | 9,158 | 376 | -7,667 | -4,910 | |
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
59,159 | 52,352 | 41,594 | 30,178 | 21,624 | 14,729 | |
Amortization of deferred financing costs and debt fair value | ||||||
1,325 | 1,621 | 1,452 | 957 | 746 | 1,443 | |
Amortization of above/below market leases | ||||||
-27 | -182 | -337 | 299 | 349 | 541 | |
Increase in straight-line rent/expense | ||||||
5,233 | 4,703 | 2,820 | 3,751 | 1,895 | 1,315 | |
Non-cash stock compensation | ||||||
1,742 | 1,416 | 1,671 | 2,436 | 1,907 | 1,091 | |
Earn-out termination payment | ||||||
- | - | 2,400 | -500 | -841 | - | |
Change in fair value of earn-out | ||||||
- | - | - | - | - | 1,048 | |
Loss on early extinguishment of debt | ||||||
- | - | - | - | - | -885 | |
Internalization shares issued | ||||||
- | - | - | 3,464 | - | - | |
Net gain on sale of real estate property | ||||||
3,412 | 46,980 | 12,116 | 15,934 | - | - | |
Impairment of real estate | ||||||
- | 3,497 | - | - | - | - | |
Gain on equity investment | ||||||
- | - | - | - | - | 4,475 | |
Changes in non-cash working capital: | ||||||
Rents receivable, net | ||||||
1,061 | 1,602 | 1,647 | 4,331 | 4,506 | 1,986 | |
Other assets | ||||||
330 | 353 | -349 | - | - | - | |
Prepaid expenses and other assets | ||||||
- | - | - | 587 | 648 | 399 | |
Accounts payable and accrued liabilities | ||||||
-5,538 | -910 | 670 | 3,135 | 2,988 | -88 | |
Deferred rent | ||||||
1,022 | -834 | 324 | 2,743 | - | - | |
Tenant rent deposits | ||||||
-590 | 196 | 655 | -338 | - | - | |
Deferred rent | ||||||
- | - | - | - | 440 | 723 | |
Tenant rent deposits | ||||||
- | - | - | - | -16 | - | |
Net Cash Provided By Operating Activities | ||||||
49,499 | 42,187 | 36,553 | 19,147 | - | - | |
Cash Flows to Investing Activities: | ||||||
Tenant rent deposits | ||||||
- | - | - | - | - | 500 | |
Net Cash Provided By Operating Activities | ||||||
- | - | - | - | 14,163 | 7,787 | |
Additions to real estate properties | ||||||
16,002 | 23,586 | 8,189 | 8,729 | 5,466 | - | |
Additions to real estate properties | ||||||
- | - | - | - | - | 4,156 | |
Acquisition of real estate | ||||||
108,358 | 254,514 | 249,299 | 248,957 | 166,788 | 89,565 | |
Net proceeds from sale of real estate . | ||||||
46,364 | 84,839 | 18,479 | - | - | - | |
Net proceeds from sale of real estate | ||||||
- | - | - | 43,525 | - | - | |
Deferred leasing costs | ||||||
3,926 | 4,048 | 4,289 | 2,074 | 3,217 | 859 | |
Net Cash Used In Investing Activities | ||||||
-81,922 | -197,309 | -243,298 | -216,235 | - | - | |
Cash Flows from Financing Activities: | ||||||
Net Cash Provided By/(Used In) Investing Activities | ||||||
- | - | - | - | -175,471 | -94,580 | |
Net proceeds from sale of preferred stock | ||||||
- | - | - | 108,127 | - | - | |
Net proceeds from sale of common stock | ||||||
198,874 | 42,902 | 136,941 | 86,785 | - | 72,471 | |
Debt issuance and extinguishment costs | ||||||
1,008 | 2,963 | 3,202 | 2,955 | 1,239 | - | |
Proceeds from borrowings | ||||||
154,750 | 398,749 | 392,340 | - | - | - | |
Repayment of borrowings | ||||||
216,336 | 241,820 | 272,772 | - | - | - | |
Debt issuance and extinguishment costs | ||||||
- | - | - | - | - | 4,063 | |
Proceeds from mortgage loans payable | ||||||
- | - | - | 47,938 | 105,813 | 205,860 | |
Repayment of mortgage loans payable | ||||||
- | - | - | 20,199 | 1,082 | 161,837 | |
Proceeds from credit facility | ||||||
- | - | - | 95,500 | 51,600 | 15,500 | |
Repayment of credit facility | ||||||
- | - | - | 93,000 | 1,600 | - | |
Shares withheld for payment of taxes on restricted stock unit vesting | ||||||
832 | 87 | - | - | - | - | |
Formation transactions | ||||||
- | - | - | - | - | 35,245 | |
Net proceeds from secondary public offering | ||||||
- | - | - | - | - | 49,671 | |
Minority interest buyout | ||||||
- | 1,140 | - | - | - | 6,056 | |
Repayment of revolving credit facility | ||||||
- | - | - | - | - | -15,500 | |
Contributions from partners and members | ||||||
- | - | - | - | - | 3,844 | |
Contributions from non-controlling interests in properties . | ||||||
112 | 297 | - | 2,525 | - | 62 | |
Distributions to partners and members | ||||||
- | - | - | - | - | 1,347 | |
Distributions to non-controlling interests in properties | ||||||
596 | 527 | 4,943 | 455 | 421 | 324 | |
Dividend distributions paid to stockholders | ||||||
48,163 | 42,158 | 36,256 | 20,841 | 14,404 | - | |
Net Cash Provided By Financing Activities | ||||||
86,801 | 153,253 | 212,108 | 203,425 | - | - | |
Net Increase in Cash, Cash Equivalents and Restricted Cash | ||||||
54,378 | -1,869 | 5,363 | 6,337 | - | - | |
Dividend distributions paid to stockholders and Operating Partnership unitholders | ||||||
- | - | - | - | - | 4,784 | |
Change in restricted cash | ||||||
- | - | - | - | 4,083 | 3,725 | |
Net Cash (Used In)/Provided By Financing Activities | ||||||
- | - | - | - | 134,584 | 114,527 | |
Reconciliation of Cash, Cash Equivalents and Restricted Cash: | ||||||
Net (Decrease)/Increase in Cash and Cash Equivalents | ||||||
- | - | - | - | -26,724 | 27,734 | |
Supplemental Disclosures of Cash Flow Information: | ||||||
Cash paid for interest | ||||||
28,479 | 22,131 | 18,408 | 13,621 | - | - | |
Cash paid for interest | ||||||
- | - | - | - | 10,030 | 7,826 | |
Earn-out payment in common stock | ||||||
- | - | - | 3,778 | 3,163 | - | |
Accrued dividend distributions payable | ||||||
- | - | - | - | - | 3,571 | |
Purchase of additions in real estate properties included in accounts payable | ||||||
6,489 | 6,791 | 2,616 | 1,565 | 1,289 | - | |
Purchase of deferred leasing costs included in accounts payable | ||||||
603 | 654 | 815 | 19 | - | - | |
Debt assumed on acquisition of real estate | ||||||
22,473 | - | - | - | - | - | |