| Schedule of Cash, Cash Equivalents and Restricted Cash |
Cash, cash equivalents and restricted cash consisted of the following (in thousands):
|
|
|
June 30,
2019 |
|
|
December 31,
2018 |
|
|
June 30,
2018 |
|
|
Cash and cash equivalents |
|
$ |
9,984 |
|
|
$ |
14,493 |
|
|
$ |
9,289 |
|
|
Restricted cash: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Collateral deposits (1) |
|
|
440 |
|
|
|
351 |
|
|
|
372 |
|
|
Tenant improvements, repairs, and leasing commissions (2) |
|
|
9,985 |
|
|
|
9,093 |
|
|
|
9,147 |
|
|
Master Trust Release (3) |
|
|
— |
|
|
|
7,412 |
|
|
|
7,412 |
|
|
1031 Exchange proceeds, net |
|
|
— |
|
|
|
45,042 |
|
|
|
— |
|
|
Other (4) |
|
|
580 |
|
|
|
1,030 |
|
|
|
1,438 |
|
|
Total cash, cash equivalents and restricted cash |
|
$ |
20,989 |
|
|
$ |
77,421 |
|
|
$ |
27,658 |
|
|
(1) |
Funds held in lender-controlled accounts generally used to meet future debt service or certain property operating expenses. |
|
(2) |
Deposits held as additional collateral support by lenders to fund improvements, repairs and leasing commissions incurred to secure a new tenant. |
|
(3) |
Proceeds from the sale of assets pledged as collateral under the Master Trust 2013 notes, which are held on deposit until a qualifying substitution is made or the funds are applied as prepayment of principal. The Master Trust 2013 notes were extinguished in June 2019. See Note 4 for additional detail. |
|
(4) |
Funds held in lender-controlled accounts released after scheduled debt service requirements are met. |
|