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
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,849 $ 181
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 6,805 5,123
Amortization of debt issuance costs 434 366
Amortization of deferred rent assets and liabilities, net (272) (189)
Bad debt expense 108 0
(Gain) loss on dispositions of real estate assets, net (6,247) 78
Property and casualty loss 129 0
Loss on write-down of inventory 1,093 0
Changes in operating assets and liabilities:    
Crop inventory and Other assets, net (1,274) 492
Accounts payable and accrued expenses and Due to related parties, net (677) 541
Other liabilities, net 4,096 1,079
Net cash provided by operating activities 8,044 7,671
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of new real estate assets (31,467) (120,985)
Capital expenditures on existing real estate assets (17,157) (3,438)
Proceeds from dispositions of real estate assets 132 0
Change in deposits on real estate acquisitions and investments, net (100) (865)
Net cash used in investing activities (48,592) (125,288)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of preferred and common equity 34,397 40,421
Offering costs (1,894) (1,962)
Payments for redemptions of OP Units (523) (2,270)
Borrowings from mortgage notes and bonds payable 48,218 104,590
Repayments of mortgage notes and bonds payable (22,800) (4,663)
Borrowings from lines of credit 14,100 52,500
Repayments of lines of credit (24,000) (63,950)
Payments of financing fees (525) (604)
Dividends paid on Series B cumulative redeemable preferred stock (43) 0
Distributions paid on common stock (6,054) (4,557)
Distributions paid to non-controlling interests in Operating Partnership (337) (568)
Net cash provided by financing activities 40,539 118,937
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (9) 1,320
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,938 2,438
CASH AND CASH EQUIVALENTS AT END OF PERIOD 2,929 3,758
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 2,656 1,140
Gain (loss) on dispositions of real estate assets, net included in Accounts payable and accrued expenses and Due to related parties, net 87 23
Real estate additions included in Other liabilities, net 136 506
Stock offering and OP Unit issuance costs included in Accounts payable and accrued expenses and Due to related parties, net 100 237
Financing fees included in Accounts payable and accrued expenses and Due to related parties, net 0 54
Escrow proceeds from asset sale used for acquisition of new real estate assets $ 20,500,000 $ 0