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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (43,275,000) $ (8,986,000)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:    
Depreciation and amortization 62,914,000 68,325,000
Net amortization of debt discounts, premiums and issuance costs 2,329,000 26,087,000
Payment of accreted interest on senior secured notes 0 (34,700,000)
Straight line rental income (57,000) (455,000)
Amortization of acquired real estate leases and other intangible assets, net 29,000 26,000
Loss on modification or early extinguishment of debt 0 29,071,000
Impairment of assets 0 38,472,000
Loss (gain) on sale of real estate 1,207,000 (110,140,000)
Gain on insurance recoveries 0 (7,522,000)
Other non-cash adjustments, net (226,000) (351,000)
Unconsolidated joint venture distributions 600,000 0
Equity in net earnings of investees (96,000) (1,487,000)
Change in assets and liabilities:    
Deferred leasing costs, net (1,714,000) (773,000)
Other assets 20,766,000 6,444,000
Accrued interest (4,605,000) (1,733,000)
Other liabilities (29,530,000) (5,521,000)
Net cash provided by (used in) operating activities 8,342,000 (3,243,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (35,166,000) (39,650,000)
Proceeds from sale of real estate, net 21,693,000 318,235,000
Equity method investment distributions 27,200,000 17,000,000
Contributions to unconsolidated joint ventures 0 (5,800,000)
Proceeds from insurance recoveries 0 1,308,000
Purchase of interest rate cap (147,000) 0
Net cash provided by investing activities 13,580,000 291,093,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from mortgage notes payable 0 140,000,000
Redemption of senior secured notes 0 (238,555,000)
Repayment of other debt (1,187,000) (840,000)
Early extinguishment of debt settled in cash 0 (25,903,000)
Payment of debt issuance costs (173,000) (3,332,000)
Repurchase of common shares (88,000) (6,000)
Distributions to shareholders (2,421,000) (2,413,000)
Net cash used in financing activities (3,869,000) (131,049,000)
Increase in cash and cash equivalents and restricted cash 18,053,000 156,801,000
Cash and cash equivalents and restricted cash at beginning of period 121,799,000 149,854,000
Cash and cash equivalents and restricted cash at end of period $ 139,852,000 $ 306,655,000