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
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (2,170) $ 428
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 4,430 3,071
Amortization of debt issuance costs 289 236
Amortization of deferred rent assets and liabilities, net (180) (115)
Bad debt expense 31 0
Property and casualty loss 129 0
Loss on write-down of inventory 1,060 0
Changes in operating assets and liabilities:    
Crop inventory and Other assets, net (237) 48
Accounts payable and accrued expenses and Due to related parties, net 317 1,318
Other liabilities, net 813 (307)
Net cash provided by operating activities 4,482 4,679
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of new real estate (5,036) (82,950)
Capital expenditures on existing real estate (11,356) (1,624)
Proceeds from sale of real estate 132 0
Change in deposits on real estate acquisitions and investments, net (300) (565)
Net cash used in investing activities (16,560) (85,139)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common and preferred equity 25,113 20,722
Offering costs (935) (1,225)
Payments for redemption of OP Units (521) 0
Borrowings from mortgage notes and bonds payable 2,733 49,001
Repayments of mortgage notes and bonds payable (3,777) (2,568)
Borrowings from lines of credit 9,100 38,000
Repayments of lines of credit (15,600) (19,500)
Payments of financing fees (225) (348)
Distributions paid on common stock (3,919) (2,918)
Distributions paid to non-controlling interests in Operating Partnership (246) (376)
Net cash provided by financing activities 11,723 80,788
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (355) 328
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,938 2,438
CASH AND CASH EQUIVALENTS AT END OF PERIOD 2,583 2,766
NON-CASH INVESTING AND FINANCING INFORMATION:    
Real estate additions included in Other assets, net 0 15
Real estate additions included in Accounts payable and accrued expenses and Due to related parties, net 4,120 647
Loss on disposals of real estate assets included in Accounts payable and accrued expenses and Due to related parties, net 8 0
Real estate additions included in Other liabilities, net 136 33
Stock offering and OP Unit issuance costs included in Accounts payable and accrued expenses and Due to related parties, net 194 140
Financing fees included in Accounts payable and accrued expenses and Due to related parties, net $ 2 $ 45