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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (21,435) $ (7,552)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 11,509 12,305
Amortization of above and below market leases   (6)
Amortization of other comprehensive income into interest expense   (355)
Loss on extinguishment of debt 2 137
Loss on sale of properties and impairment of assets held for sale, net 13,284 5
Changes in operating assets and liabilities:    
Tenant rent receivables (179) (9)
Straight-line rents 70 206
Lease acquisition costs (74) (122)
Prepaid expenses and other assets (225) (400)
Accounts payable and accrued expenses (5,914) (6,677)
Accrued compensation (1,892) (2,448)
Tenant security deposits (81) 64
Payment of deferred leasing commissions (546) (2,236)
Net cash used in operating activities (5,481) (7,088)
Cash flows from investing activities:    
Property improvements, fixtures and equipment (4,454) (8,759)
Proceeds received from sales of properties   34,329
Net cash provided by (used in) investing activities (4,454) 25,570
Cash flows from financing activities:    
Distributions to stockholders (1,036) (1,034)
Repayments of Bank note payable   (22,667)
Repayments of Term loans payable (77) (28,963)
Repayments of Series A&B Senior Notes (76) (50,370)
Deferred financing costs   (5,549)
Net cash used in financing activities (1,189) (108,583)
Net decrease in cash, cash equivalents and restricted cash (11,124) (90,101)
Cash, cash equivalents and restricted cash, beginning of year 42,683 127,880
Cash, cash equivalents and restricted cash, end of period 31,559 37,779
Cash paid for:    
Interest 2,510 4,328
Non-cash investing activities:    
Accrued costs for purchases of real estate assets $ 2,060 2,444
Accrued deferred financing costs   $ 11