v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net Income (Loss) $ 7,133 $ (13,452)
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Issuance of Common Stock for Internalization 0 3,052
Issuance of OP Units for Internalization 0 8,396
Stock-Based Compensation 1,820 3,884
Depreciation and Amortization Expense 5,601 1,692
Changes in Assets and Liabilities, Net of Acquisition:    
Other Assets 232 (129)
Accrued Expenses and Other Liabilities (1,814) (389)
Security Deposits Payable 2,179 1,594
Rent Received in Advance 623 (331)
Management Fees Payable 0 (110)
Due to Manager 0 (84)
Net Cash Provided by Operating Activities 15,774 4,123
Cash Flows from Investing Activities:    
Cash Acquired from Merger Transaction 64,355 0
Payment of Merger Related Transaction Costs (2,144) 0
Reimbursements of Tenant Improvements (8,449) 0
Deferred Real Estate Costs 0 (10,054)
Acquisition of Real Estate (44,650) (55,000)
Net Cash Provided by (Used in) Investing Activities 9,112 (65,054)
Cash Flows from Financing Activities:    
Proceeds from Issuance of Common Stock, Net of Offering Costs 133,085 0
Preferred Stock Dividends Paid (4) (12)
Common Stock Dividends Paid (9,298) (1,056)
Restricted Stock Units Dividend Equivalents Paid (84) 0
Distributions to OP Unit Holders (266) 0
Redemption of Series A Preferred Stock (125) 0
Exercise of Stock Option 0 50
Net Cash Provided by (Used in) Financing Activities 123,308 (1,018)
Net Increase (Decrease) in Cash and Cash Equivalents 148,194 (61,949)
Cash and Cash Equivalents - Beginning of Period 19,617 66,901
Cash and Cash Equivalents - End of Period 167,811 4,952
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Accrual for Dividends and Distributions Payable 2,618 2,398
Accrual for Reimbursements of Tenant Improvements 0 0
Real Estate Assets, In-Place Leases, Other Assets and Liabilities Acquired through the Issuance of Common Stock and Warrants 103,319 0
Operating Partnership (OP) [Member]    
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Issuance of 88,200 OP Units for Property Acquisition $ 2,205 $ 0

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