| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 | Sep'16 | Jun'16 | Mar'16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||
Net loss | ||||||||||||||||
-806 | -2,650 | -182 | -1,158 | -133 | -1,566 | 1,251 | 308 | -8,994 | -1,523 | -1,569 | -1,611 | -1,298 | -3,079 | -2,537 | -3,517 | -3,206 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||
Depreciation | ||||||||||||||||
5,485 | 5,460 | 4,741 | 4,394 | 4,361 | 4,435 | 4,163 | 4,124 | 4,043 | 4,144 | 3,858 | 3,833 | 3,705 | 3,657 | 3,648 | 3,124 | 3,073 |
Amortization of deferred financing costs | ||||||||||||||||
304 | 424 | 335 | 424 | 504 | 305 | 232 | 231 | 521 | 736 | 721 | 721 | 721 | 947 | 1,158 | 1,587 | 1,508 |
Amortization of deferred costs and intangible assets | ||||||||||||||||
192 | 242 | 310 | 316 | 307 | 308 | 307 | 429 | 671 | 886 | 621 | 608 | 635 | 1,282 | 877 | 555 | 555 |
Amortization of above- and below-market leases | ||||||||||||||||
-99 | -100 | -250 | -406 | -424 | -479 | -479 | -480 | -479 | -432 | -431 | -432 | -434 | -373 | -438 | -489 | -430 |
Loss on extinguishment of debt | ||||||||||||||||
- | - | - | - | - | 1,891 | 0 | 0 | 6,981 | - | 0 | 0 | 0 | - | - | - | - |
Deferred rent | ||||||||||||||||
-201 | -211 | -184 | -182 | -634 | -258 | -258 | -257 | -256 | - | - | - | - | - | - | - | - |
Deferred rent | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | -81 | -79 | -77 | -116 | 41 | 22 | -3 |
Stock-based compensation | ||||||||||||||||
158 | 325 | 325 | 704 | 156 | 270 | 411 | 691 | 568 | 842 | 839 | 834 | 595 | 632 | 779 | 602 | 510 |
Change in fair value of interest rate caps | ||||||||||||||||
- | - | - | - | - | -29 | 0 | 10 | 227 | 98 | -30 | -192 | -137 | 148 | 0 | 0 | -9 |
Changes in operating assets and liabilities: | ||||||||||||||||
Restricted cash | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 4,404 | -3,144 | 5,434 | - | - | - | - |
Restricted cash | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,311 | -4,808 | 4,731 |
Tenant and other receivables | ||||||||||||||||
563 | -792 | 1,621 | 450 | -672 | 321 | 576 | -860 | -3,026 | 1,363 | 635 | -783 | 869 | 558 | 666 | 1,464 | 321 |
Prepaid expenses, other assets and deferred costs | ||||||||||||||||
-5,918 | 3,095 | -1,769 | 5,742 | -5,812 | 4,305 | -3,181 | 5,076 | -4,190 | 4,380 | -3,053 | 4,598 | -4,305 | 2,726 | -1,026 | 3,264 | -3,985 |
Accounts payable and accrued liabilities | ||||||||||||||||
-1,926 | 3,955 | 412 | -1,135 | -646 | -2,413 | 1,179 | 1,631 | -912 | 760 | 899 | -735 | -1,485 | 1,389 | 1,496 | 819 | -48 |
Security deposits | ||||||||||||||||
67 | 1 | 534 | 331 | 67 | -194 | 151 | 243 | 389 | -453 | -61 | 182 | 132 | -19 | -657 | 836 | 78 |
Other liabilities | ||||||||||||||||
119 | -844 | 1,390 | -738 | 640 | 337 | 218 | -315 | 779 | -841 | 689 | 177 | 364 | -489 | -72 | 426 | 5 |
Net cash provided by operating activities | ||||||||||||||||
9,050 | 5,382 | 7,947 | -1,507 | 11,950 | -1,445 | 10,102 | 2,893 | 10,812 | 5,046 | 3,691 | 3,177 | 1,151 | - | - | - | - |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||
Net cash provided by operating activities | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4,001 | 990 |
Additions to land, buildings, and improvements | ||||||||||||||||
7,101 | 8,812 | 13,579 | 11,175 | 10,208 | 11,422 | 9,209 | 9,134 | 10,112 | 6,172 | 5,526 | 5,476 | 3,102 | 5,174 | 4,449 | 5,181 | 3,358 |
Purchase of interest rate cap | ||||||||||||||||
14 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash paid in connection with acquisition of real estate | ||||||||||||||||
- | - | - | - | - | - | - | - | - | 79,794 | 0 | 78,726 | 8,860 | 278 | 0 | 97,845 | 5,000 |
Net cash used in investing activities | ||||||||||||||||
-7,115 | -38,391 | -15,129 | -11,175 | -10,208 | -11,451 | -8,983 | -8,749 | -10,112 | -77,840 | -11,508 | -86,346 | -11,962 | - | - | - | - |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||
Net cash used in investing activities | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -103,026 | -8,358 |
Payments of mortgage notes | ||||||||||||||||
-897 | - | - | - | -711 | 0 | 0 | -1 | -6 | 0 | -126 | -44 | 78,855 | -1,064 | -88 | -555 | 117 |
Payments of mortgage notes | ||||||||||||||||
- | - | - | - | - | 34,301 | 877 | 758 | 579,231 | 1,350 | 1,864 | 436 | 245 | 460,120 | 176 | 55,178 | 176 |
Proceeds from mortgage notes | ||||||||||||||||
176 | - | - | - | - | 76,225 | 854 | 1,465 | 607,120 | 35,070 | 347 | 59,000 | 0 | - | - | - | - |
Dividends and distributions | ||||||||||||||||
4,276 | 4,276 | 4,275 | 4,277 | 4,261 | 4,262 | 4,261 | 4,261 | 4,254 | 4,255 | 4,254 | 8,056 | 0 | 2,494 | 2,488 | 2,490 | 2,479 |
Loan issuance and extinguishment costs | ||||||||||||||||
- | - | - | - | - | 3,987 | 0 | 0 | 8,338 | 875 | 1 | 3,877 | 135 | 4,521 | 19 | 3,702 | 49 |
Net cash used in financing activities | ||||||||||||||||
-4,997 | 29,305 | -4,986 | 42,852 | -4,972 | 33,675 | -4,284 | -3,555 | 15,291 | 28,590 | -5,898 | 46,442 | 78,475 | - | - | - | - |
Net decrease in cash and cash equivalents and restricted cash | ||||||||||||||||
-3,062 | -3,704 | -12,168 | 30,170 | -3,230 | 20,779 | -3,165 | -9,411 | 15,991 | - | - | - | - | - | - | - | - |
Net cash provided by financing activities | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 87,707 | -2,587 |
Net increase (decrease) in cash and cash equivalents | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | -13,715 | -36,727 | 67,664 | -44,554 | -21,958 | -11,318 | -9,955 |
Supplemental cash flow information: | ||||||||||||||||
Cash paid for interest, net of capitalized interest of $300 and $1,836 in 2020 and 2019, respectively | ||||||||||||||||
9,532 | 7,742 | 9,021 | 8,903 | 8,290 | 7,473 | 7,838 | 6,134 | 9,610 | 8,766 | 9,077 | 7,330 | 8,441 | - | - | - | - |
Non-cash interest capitalized to real estate under development | ||||||||||||||||
280 | 19 | 259 | 330 | 348 | 407 | 309 | 327 | 252 | 328 | 31 | 561 | 0 | - | - | - | - |
Additions to investment in real estate included in accounts payable and accrued liabilities | ||||||||||||||||
2,581 | -3,178 | -871 | 1,284 | 6,656 | -922 | 4,234 | 481 | 2,205 | - | - | - | - | - | - | - | - |
Cash paid for interest | ||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 7,934 |