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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (44,197) $ (51,685)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 36,284 44,705
Amortization of above and below market leases (17) (39)
Shares issued as compensation 270 315
Amortization of other comprehensive income into interest expense (355) (2,789)
Loss on extinguishment of debt 614 106
Gain on consolidation of Sponsored REIT   (394)
Loss on sale of properties and impairment of assets held for sale, net 20,459 32,085
Changes in operating assets and liabilities:    
Tenant rent receivables 842 (653)
Straight-line rents 1,249 427
Lease acquisition costs (660) (903)
Prepaid expenses and other assets 314 (644)
Accounts payable and accrued expenses (4,364) (2,516)
Accrued compensation (451) (465)
Tenant security deposits (84) (79)
Payment of deferred leasing commissions (3,168) (5,926)
Net cash provided by operating activities 6,736 11,545
Cash flows from investing activities:    
Property improvements, fixtures and equipment (19,074) (26,024)
Consolidation of Sponsored REIT   3,048
Proceeds received from sales of properties 62,909 37,062
Net cash provided by investing activities 43,835 14,086
Cash flows from financing activities:    
Distributions to stockholders (3,104) (3,099)
Proceeds received from termination of interest rate swap   4,206
Borrowings under Bank note payable   67,000
Repayments of Bank note payable (22,667) (35,000)
Repayments of Term loans payable (41,775) (50,000)
Repayments of Series A&B Senior Notes (62,870)  
Deferred financing costs (5,660) (2,327)
Net cash used in financing activities (136,076) (19,220)
Net increase (decrease) in cash, cash equivalents and restricted cash (85,505) 6,411
Cash, cash equivalents and restricted cash, beginning of year 127,880 6,632
Cash, cash equivalents and restricted cash, end of period 42,375 13,043
Cash paid for:    
Interest 16,038 16,704
Taxes 372 337
Non-cash investing activities:    
Accrued costs for purchases of real estate assets $ 2,266 2,562
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