v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (2,601) $ (3,338)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 14,465 14,559
Amortization of debt issuance costs 299 299
Amortization of acquired market leases, net (33) 5
Amortization of equity-based compensation 34 24
Reduction in the carrying amount of the right-of-use-asset 93 98
Straight-line income, net (520) (345)
Other non-cash adjustments 49 50
Changes in assets and liabilities:    
Accounts payable and accrued expenses 580 (242)
Accounts and rent receivable 405 1,971
Other assets 103 (155)
Due to related parties 187 (52)
Operating lease liability 76 72
Other liabilities (1,343) (1,080)
Net cash flows provided by operating activities 11,794 11,866
Cash flows from investing activities:    
Capital expenditures (5,173) (3,144)
Net cash flows used in investing activities (5,173) (3,144)
Cash flows from financing activities:    
Payment of credit facility (4,000) (4,000)
Proceeds from credit facility 4,000 2,000
Payment of mortgages payable (88) (84)
Proceeds from the distribution reinvestment plan   1,691
Shares repurchased   (1,691)
Distributions paid (4,898) (4,905)
Net cash flows used in financing activities (4,986) (6,989)
Net increase in cash, cash equivalents and restricted cash 1,635 1,733
Cash, cash equivalents and restricted cash, at beginning of the period 6,896 6,454
Cash, cash equivalents and restricted cash, at end of period 8,531 8,187
In conjunction with the purchase of investment properties, the Company acquired assets and assumed liabilities as follows:    
Cash paid for interest 9,707 10,292
Supplemental schedule of non-cash investing and financing activities:    
Accrued capital expenditures $ 337 $ 1,039