v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:        
Net loss $ (25,101) $ (33,801) $ (34,456) $ (60,027)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 14,928 38,614 30,950 63,118
Non-cash revenue adjustments, net     (6,319) (719)
Impairments 19,503 5,680 21,212 25,365
Gain on disposition of real estate assets     (891) 0
Loss on extinguishment of debt, net 0 1,078 0 1,078
Amortization of deferred financing costs     1,834 1,838
Equity-based compensation     1,526 1,725
Equity in loss of unconsolidated joint venture, net 271 163 517 279
Changes in assets and liabilities:        
Accounts receivable, net and other assets, net     248 653
Accounts payable, accrued expenses and other liabilities, net     (5,305) (5,301)
Net cash provided by operating activities     9,316 28,009
Cash flows from investing activities:        
Capital expenditures and leasing costs     (15,631) (8,164)
Proceeds from disposition of real estate, net     22,825 2,070
Return of investment from unconsolidated joint venture     0 888
Origination of member loan to unconsolidated joint venture     (8,328) 0
Principal repayments received on member loan to unconsolidated joint venture     2,123 0
Principal repayments received on notes receivable     2,500 200
Deposits for real estate assets     0 (350)
Uses and refunds of deposits for real estate assets     0 350
Proceeds from the settlement of property-related insurance claims     0 171
Net cash provided by (used in) investing activities     3,489 (4,835)
Cash flows from financing activities:        
Proceeds from credit facility revolver     13,000 0
Repayments of credit facility revolver     (22,000) (9,000)
Payments of deferred financing costs     (8) (965)
Repurchases of common stock to settle tax obligations     (466) (162)
Distributions paid     (6,719) (11,166)
Other financing activities     (308) (116)
Net cash used in financing activities     (16,501) (21,409)
Net change in cash and cash equivalents and restricted cash     (3,696) 1,765
Cash and cash equivalents and restricted cash at beginning of year     57,170 57,198
Cash and cash equivalents and restricted cash at end of period 53,474 58,963 53,474 58,963
Reconciliation of Cash and Cash Equivalents and Restricted Cash        
Cash and cash equivalents at beginning of year     15,600 22,473
Restricted cash at beginning of year     41,570 34,725
Cash and cash equivalents and restricted cash at beginning of year     57,170 57,198
Cash and cash equivalents at end of period 17,384 24,224 17,384 24,224
Restricted cash at end of period 36,090 34,739 36,090 34,739
Cash and cash equivalents and restricted cash at end of period $ 53,474 $ 58,963 $ 53,474 $ 58,963