XML 22 R8.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (150,566) $ (135,867)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 106,544 111,270
Amortization 10,252 8,694
Straight-line rent adjustments 563 261
Deferred compensation 1,580 4,571
Gain on sale of preferred equity interest (3,688) 0
Gain on debt extinguishment, net 0 (4,587)
Paid-in-kind interest 60,865 48,243
Gain on hedge ineffectiveness (33) (2,866)
(Gain) loss on sales of interests in real estate, net (10,829) 1,180
Gain on sale of equity method investment (8,976) 0
Gain on sale of real estate by equity method investee 0 (1,337)
Gain on sales of interests in non-operating real estate (10,527) (10)
Equity in loss of partnerships 6,145 3,732
Cash distributions from partnerships 6,535 4,828
Impairment of real estate assets 44,101 9,938
Change in assets and liabilities:    
Net change in other assets 21,595 17,632
Net change in other liabilities (4,287) 3,296
Net cash provided by operating activities 69,274 68,978
Cash flows from investing activities:    
Cash proceeds from sales of real estate 89,744 5,008
Investments in real estate improvements (18,613) (16,453)
Additions to construction in progress (4,494) (8,238)
Investments in partnerships (633) (1,698)
Capitalized leasing costs (200) (234)
Proceeds from sale of preferred equity interest 2,438 0
Additions to leasehold improvements and corporate fixed assets (91) (93)
Net cash provided by (used in) investing activities 68,151 (21,708)
Cash flows from financing activities:    
Net repayments to the First Lien Revolving Facility (32,068) (281)
Net repayments to term loans (47,358) (4,684)
Repayments of finance lease liabilities (721) (689)
Principal installments on mortgage loans (35,651) (25,527)
Payment of deferred financing costs (6,037) (1,125)
Repayments of mortgage loans 0 (135,155)
Debt extinguishment (38,169) 0
Proceeds from mortgage loans 0 127,685
Value of shares retired under equity incentive plans, net of shares issued (809) (648)
Net cash used in financing activities (160,813) (40,424)
Net change in cash, cash equivalents, and restricted cash (23,388) 6,846
Cash, cash equivalents, and restricted cash, beginning of period 58,077 51,231
Cash, cash equivalents, and restricted cash, end of period $ 34,689 $ 58,077