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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (1,660) $ (3,190)
Adjustments to reconcile net loss to net cash provided by operating activities    
Deferred income taxes (1,683) (627)
Depreciation and amortization 5,568 4,117
Amortization of deferred financing costs and debt discounts 279 380
Amortization and (accretion) of above and below market lease intangibles, net 48 (124)
Minimum multiple on preferred interests (77) (371)
Straight-line rent revenue (446) (131)
Straight-line rent expense (9) (7)
Stock-based compensation 214 785
Change in fair value of derivatives 179 (1,765)
Change in fair value on debt held under the fair value option (3,235) 0
Bad debt expense 42 29
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable (94) 419
Other assets 560 261
Receivables due from related parties 0 1
Accounts payable and accrued liabilities (584) 1,193
Payables due to related parties 10 16
Deferred revenues 276 (182)
Net cash (used in) provided by operating activities (612) 804
Cash flows from investing activities    
Capitalized pre-acquisition costs, net of refunds 0 (100)
Capital expenditures for real estate (1,086) (808)
Net cash used in investing activities (1,086) (908)
Cash flows from financing activities    
Borrowings under debt agreements 0 304
Repayments under debt agreements (459) (863)
Preferred equity returns on preferred equity investment (1,014) 0
Capitalized pre-refinancing costs (8) 0
Taxes remitted upon vesting of restricted stock (6) 0
Debt origination and discount fees 0 (4)
Proceeds from related parties 0 199
Net cash used in financing activities (1,487) (364)
Decrease in cash, cash equivalents, and restricted cash (3,185) (468)
Cash, cash equivalents and restricted cash at beginning of period 17,031 11,024
Cash, cash equivalents and restricted cash at end of period 13,846 10,556
Supplemental Cash Flow Information    
Interest paid 4,135 2,460
Supplemental disclosure of non-cash investing and financing activities    
Capitalized Preferred Return (2,404) 0
Accrued Current Preferred Return (356) 0
Accrued offering costs 0 457
Accrued capital expenditures for real estate 643 341
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents 8,496 2,251
Restricted cash 5,350 8,305
Cash, cash equivalents and restricted cash at end of period $ 13,846 $ 10,556