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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ (7,552) $ 2,406
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 12,305 15,316
Amortization of above and below market leases (6) (18)
Amortization of other comprehensive income into interest expense (355) (662)
Loss on extinguishment of debt 137 67
Gain on consolidation of Sponsored REIT   (394)
(Gain) loss on sale of properties and impairment of assets held for sale, net 5 (8,392)
Changes in operating assets and liabilities:    
Tenant rent receivables (9) (1,105)
Straight-line rents 206 (332)
Lease acquisition costs (122) (818)
Prepaid expenses and other assets (400) (513)
Accounts payable and accrued expenses (6,677) (3,317)
Accrued compensation (2,448) (2,455)
Tenant security deposits 64 30
Payment of deferred leasing commissions (2,236) (908)
Net cash used in operating activities (7,088) (1,095)
Cash flows from investing activities:    
Property improvements, fixtures and equipment (8,759) (11,420)
Consolidation of Sponsored REIT   3,048
Proceeds received from sales of properties 34,329 28,098
Net cash provided by investing activities 25,570 19,726
Cash flows from financing activities:    
Distributions to stockholders (1,034) (1,033)
Proceeds received from termination of interest rate swap   4,206
Borrowings under bank note payable   57,000
Repayments of bank note payable (22,667) (30,000)
Repayment of term loan payable (28,963) (40,000)
Repayments of Series A&B Senior Notes (50,370)  
Deferred financing costs (5,549) (2,326)
Net cash used in financing activities (108,583) (12,153)
Net increase (decrease) in cash, cash equivalents and restricted cash (90,101) 6,478
Cash, cash equivalents and restricted cash, beginning of year 127,880 6,632
Cash, cash equivalents and restricted cash, end of period 37,779 13,110
Cash paid for:    
Interest 4,328 3,472
Taxes on income   86
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets 2,444 4,831
Investment in related party mortgage loan receivable converted to real estate assets and acquired real estate leases in conjunction with variable interest entity consolidation   $ 20,000
Accrued deferred financing costs $ 11