XML 20 R8.htm IDEA: XBRL DOCUMENT v3.23.1
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 $ (45,745) $ (32,973)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 24,900 27,436
Amortization 4,448 2,098
Straight-line rent adjustments (50) 290
Deferred compensation 213 (165)
Gain on sale of preferred equity interest 0 (3,688)
Paid-in-kind interest 20,491 12,547
Gain on hedge ineffectiveness (8) (8)
Equity in loss of partnerships 2,696 395
Cash distributions from partnerships 485 1,570
Change in assets and liabilities:    
Net change in other assets 11,605 7,161
Net change in other liabilities (498) (189)
Net cash provided by operating activities 18,537 14,474
Cash flows from investing activities:    
Cash proceeds from sales of real estate 26,312 0
Investments in real estate improvements (6,297) (2,746)
Additions to construction in progress (1,131) (1,385)
Investments in partnerships 0 (415)
Capitalized leasing costs (265) (29)
Proceeds from sale of preferred equity interest 0 2,438
Additions to leasehold improvements and corporate fixed assets (14) 0
Net cash provided by (used in) investing activities 18,605 (2,137)
Cash flows from financing activities:    
Net repayments to term loans (26,312) (2,437)
Repayments of finance lease liabilities (174) 0
Principal installments on mortgage loans (9,557) (6,048)
Payment of deferred financing costs (2,500) (235)
Repurchase of shares retired under equity incentive plans, net of shares issued (52) (593)
Net cash used in financing activities (38,595) (9,313)
Net change in cash, cash equivalents, and restricted cash (1,453) 3,024
Cash, cash equivalents, and restricted cash, beginning of period 34,689 58,077
Cash, cash equivalents, and restricted cash, end of period $ 33,236 61,101
Supplemental non-cash disclosures:    
Transfer of equity compensation from liability to equity   $ 6,020