| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
Net loss | ||||||
-4,123 | -9,001 | -6,001 | -12,339 | -8,200 | ||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||
Depreciation | ||||||
18,956 | 16,765 | 15,540 | 13,502 | 11,662 | ||
Amortization of deferred financing costs | ||||||
1,687 | 1,289 | 2,899 | 5,200 | 6,036 | ||
Amortization of deferred costs and intangible assets | ||||||
1,175 | 1,715 | 2,750 | 3,269 | 2,187 | ||
Amortization of above- and below-market leases | ||||||
-1,180 | -1,917 | -1,729 | -1,730 | -1,714 | ||
Loss on extinguishment of debt | ||||||
2,432 | 8,872 | - | - | - | ||
Gain on involuntary conversion | ||||||
- | 194 | - | - | - | ||
Deferred rent | ||||||
-1,211 | -1,029 | -311 | - | - | ||
Deferred rent | ||||||
- | - | - | -56 | -109 | ||
Stock-based compensation | ||||||
1,510 | 1,940 | 3,110 | 2,523 | 709 | ||
Change in fair value of interest rate caps | ||||||
- | 208 | -261 | 139 | -522 | ||
Changes in operating assets and liabilities: | ||||||
Restricted cash | ||||||
- | - | - | 768 | 4,086 | ||
Tenant and other receivables | ||||||
607 | -2,989 | 2,084 | 3,009 | -2,635 | ||
Prepaid expenses, other assets and deferred costs | ||||||
1,256 | 2,010 | 1,620 | 979 | 2,004 | ||
Accounts payable and accrued liabilities | ||||||
2,586 | -515 | -561 | 3,656 | 382 | ||
Security deposits | ||||||
933 | 589 | -200 | 238 | 98 | ||
Other liabilities | ||||||
448 | 1,019 | 389 | -130 | 1,104 | ||
Net cash provided by operating activities | ||||||
23,772 | 22,362 | 13,065 | 9,350 | 9,440 | ||
Additions to land, buildings, and improvements | ||||||
43,774 | 39,877 | 20,276 | 18,162 | 9,025 | ||
Insurance proceeds from involuntary conversion | ||||||
- | 226 | - | - | - | ||
Sale and purchase of interest rate caps, net | ||||||
- | 356 | - | - | - | ||
Cash paid in connection with acquisition of real estate | ||||||
31,129 | - | 167,380 | 103,123 | 0 | ||
Net cash used in investing activities | ||||||
-74,903 | -39,295 | -187,656 | -121,285 | -9,025 | ||
Payments of mortgage notes | ||||||
- | -7 | 78,685 | -1,590 | 130,199 | ||
(Redemption) sale of preferred stock | ||||||
- | - | -145 | 132 | 0 | ||
Payments of mortgage notes | ||||||
142,638 | 615,167 | 3,895 | 515,650 | 737 | ||
Proceeds from mortgage notes | ||||||
226,457 | 685,664 | 94,417 | 559,500 | 0 | ||
Contributions | ||||||
- | - | - | - | 2,357 | ||
Dividends and distributions | ||||||
17,089 | 17,038 | 16,565 | 9,951 | 15,884 | ||
Loan issuance and extinguishment costs | ||||||
4,531 | 12,325 | 4,888 | 8,291 | 175 | ||
Net cash used in financing activities | ||||||
62,199 | 41,127 | 147,609 | 24,150 | 115,760 | ||
Net decrease in cash and cash equivalents and restricted cash | ||||||
11,068 | 24,194 | -26,982 | - | - | ||
Net increase (decrease) in cash and cash equivalents | ||||||
- | - | - | -87,785 | 116,175 | ||
Supplemental cash flow information: | ||||||
Cash paid for interest, net of capitalized interest of $300 and $1,836 in 2020 and 2019, respectively | ||||||
33,956 | 31,055 | 33,614 | 33,536 | 31,005 | ||
Non-cash interest capitalized to real estate under development | ||||||
956 | 1,295 | 920 | - | 0 | ||
Additions to investment in real estate included in accounts payable and accrued liabilities | ||||||
3,891 | 5,998 | 1,528 | - | - | ||