v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 18,222 $ 12,210
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,170 17,647
Write-off and amortization of deferred financing fees and debt discounts 933 637
Amortization of above/below market leases (2,637) (2,481)
Amortization of intangible liability (183) (224)
Loss on early extinguishment of debt 232 63
Casualty and impairment losses 95 731
(Gain) loss on sale of real estate assets (30) 49
Gain on insurance proceeds received for damage due to property (323) (837)
Equity based compensation 6,300 4,812
Deferred rent receivable (4,126) (1,953)
Other (9) 250
Changes in assets and liabilities:    
Rent and other receivables (3,765) (237)
Prepaid expenses and other assets 2,198 425
Accounts payable, accrued expenses and other 694 2,068
Net cash provided by operating activities 37,771 33,160
Cash flows from investing activities:    
Acquisition of real estate (154,956) (89,558)
Proceeds from sale of real estate assets 50 825
Escrows for acquisition deposits (317) (364)
Capital improvements (2,774) (5,164)
Insurance proceeds related to property damage claims 482 837
Other investing activities, net 107 (344)
Net cash used in investing activities (157,408) (93,768)
Cash flows from financing activities:    
Repayments of secured borrowings (447) (113)
Proceeds from term loans 50,000 40,000
Proceeds from revolving credit facility 119,000 93,000
Repayments of revolving credit facility (147,000) (82,000)
Net proceeds from issuance of shares 129,166 34,796
Debt issuance costs (3,052) (2,250)
Proceeds from issuance of ESPP shares 175 171
Repurchase of common stock for tax withholding obligations (940) (348)
Dividends and distributions (26,715) (22,658)
Other financing activities (278) (194)
Net cash provided by financing activities 119,909 60,404
Net increase (decrease) in Cash and Escrows and Reserves 272 (204)
Cash and Escrows and Reserves at the beginning of period 2,097 2,543
Cash and Escrow and Reserves at the end of period 2,369 2,339
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Operating partnership units issued for property acquisitions, net 7,939 6,746
Unrealized gain (loss) on derivative instruments, net 8,606 (5,002)
Reallocation of non-controlling interest 8,519 2,422
Reclassification of acquisition deposits included in prepaid expenses and other assets 287 322
Accrued capital expenditures included in accounts payable and accrued expenses 738 665
Reclassification of acquisition related costs included in prepaid expenses and other assets 150 0
Reclassification of construction deposits included in prepaid expenses and other assets 77 56
Accrued costs of capital included in accounts payable and accrued expenses 265 52
Accrued deferred financing and other costs included in accounts payable and accrued expenses 204 0
Transfer of investment properties, net to assets held for sale 415 637
Right of use assets, net 0 93
Deferred purchase price, net of discount 2,948 0
Shares issued upon redemption of operating partnership units $ 671 $ 346