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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (6,541) $ (7,564)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 29,153 30,140
Amortization of debt issuance costs and mortgage premiums, net 598 622
Amortization of acquired market leases, net 9 (2,421)
Amortization of equity-based compensation 47 44
Reduction in the carrying amount of the right-of-use-asset 195 208
Straight-line income, net (743) (284)
Other non-cash adjustments 94 98
Changes in assets and liabilities:    
Accounts payable and accrued expenses 2,082 2,751
Accounts and rent receivable 2,405 719
Other assets 242  
Due to related parties (7) (1,207)
Operating lease liability 145 136
Other liabilities (1,912) 1,710
Net cash flows provided by operating activities 25,767 24,952
Cash flows from investing activities:    
Capital expenditures (7,061) (3,521)
Net cash flows used in investing activities (7,061) (3,521)
Cash flows from financing activities:    
Payment of credit facility (6,000) (8,576)
Proceeds from credit facility 2,000 44,576
Payment of mortgages payable (168) (41,510)
Proceeds from the distribution reinvestment plan 3,359 3,522
Shares repurchased (3,359) (2,641)
Distributions paid (9,807) (9,819)
Early termination of interest rate swap agreements, net   369
Net cash flows used in financing activities (13,975) (14,079)
Net increase in cash, cash equivalents and restricted cash 4,731 7,352
Cash, cash equivalents and restricted cash, at beginning of the period 6,454 5,334
Cash, cash equivalents and restricted cash, at end of period 11,185 12,686
In conjunction with the purchase of investment properties, the Company acquired assets and assumed liabilities as follows:    
Cash paid for interest 20,829 19,754
Supplemental schedule of non-cash investing and financing activities:    
Accrued capital expenditures $ 1,087 $ 578