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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (91,350) $ (43,988)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 49,420 54,201
Amortization 7,209 4,163
Straight-line rent adjustments 190 322
Deferred compensation 274 400
Gain on sale of preferred equity interest 0 (3,688)
Paid-in-kind interest 42,708 25,932
Gain on hedge ineffectiveness (13) (17)
Gain on sale of equity method investment 0 (9,053)
Gain on sales of interests in real estate 0 (1,701)
Gain on sales of interests in non operating real estate (1,057) (8,755)
Equity in loss of partnerships 6,682 1,583
Cash distributions from partnerships 850 3,725
Change in assets and liabilities:    
Net change in other assets 14,624 12,600
Net change in other liabilities 3,608 (4,543)
Net cash provided by operating activities 33,145 31,181
Cash flows from investing activities:    
Cash proceeds from sales of real estate 29,713 28,079
Investments in real estate improvements (10,767) (5,902)
Additions to construction in progress (1,958) (1,594)
Investments in partnerships (152) (587)
Capitalized leasing costs (304) (101)
Proceeds from sale of preferred equity interest 0 2,438
Additions to leasehold improvements and corporate fixed assets (32) (87)
Net cash provided by investing activities 16,500 22,246
Cash flows from financing activities:    
Net borrowings (repayments) to the First Lien Revolving Facility 5,000 (38,471)
Net repayments to term loans (26,312) (19,766)
Repayments of finance lease liabilities (348) 0
Principal installments on mortgage loans (24,565) (15,292)
Payment of deferred financing costs (2,854) (395)
Repurchase of shares retired under equity incentive plans, net of shares issued (52) (767)
Net cash used in financing activities (49,131) (74,691)
Net change in cash, cash equivalents, and restricted cash 514 (21,264)
Cash, cash equivalents, and restricted cash, beginning of period 34,689 58,077
Cash, cash equivalents, and restricted cash, end of period $ 35,203 $ 36,813