v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities:    
Net income $ 554 $ 6,493
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,087 16,601
Stock compensation expense 2,915 1,586
Amortization of deferred rents (5,048) (5,716)
Amortization of deferred financing costs and premium/discount 629 1,192
Amortization of (below) above market lease intangibles, net (854) (847)
Impairment of real estate investment property 5,814 0
Loss on equity investments 0 151
Gain on sale of real estate investments, net (2,520) (3,360)
Amortization of unrealized holding gain and unrealized gain on non-designated or ineffective interest rate derivative instruments (1,015) 1,479
Adjustment for receipts from off-market interest rate derivatives (4,581) 0
Amortization of off-market interest rate derivatives 3,909 0
Loss on early extinguishment of debt 768 0
Income from unconsolidated investment in a real estate property (758) (297)
Distributions from unconsolidated investment in a real estate property 646 1,027
Changes in operating assets and liabilities:    
(Increase) decrease in tenant rent and other receivables (13) 71
(Increase) decrease in prepaid expenses and other assets (31) 460
Decrease in accounts payable, accrued and other liabilities (535) (599)
Net cash provided by operating activities 14,967 18,241
Cash Flows from Investing Activities:    
Acquisitions of real estate investments (345) (5,183)
Improvements to existing real estate investments and other assets (506) (1,847)
Net proceeds from sale of real estate investments 27,137 15,023
Net proceeds from sale of investment in common stock 0 652
Purchase deposits applied (paid) 150 (250)
Sale deposits received, net of applied 300 0
Proceeds from the settlement of property-related insurance claims 684 0
Investments in off-market interest rate derivatives (4,200) 0
Receipts from off-market interest rate derivatives 4,581 0
Net cash provided by investing activities 27,801 8,395
Cash Flows from Financing Activities:    
Principal payments on mortgage notes payable (18,848) (281)
Payments of deferred financing costs (70) 0
Payment of loan prepayment fees (732) 0
Proceeds from offering of common stock, net 2,754 7,711
Repurchases of preferred stock (7,111) 0
Repurchases of common stock and Class C OP Units 0 (11,534)
Dividends paid to preferred stockholders (3,339) (3,688)
Net cash used in financing activities (39,917) (18,235)
Net increase in cash, cash equivalents, and restricted cash 2,851 8,401
Cash, cash equivalents, and restricted cash, beginning of period 11,530 3,129
Cash, cash equivalents, and restricted cash, end of period 14,381 11,530
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 12,268 13,504
Supplemental Schedule of Noncash Investing and Financing Activities:    
Distribution of Generation Income Properties, Inc. (“GIPR”) common stock to Class C Common Stock and Class C OP Units 0 10,361
Receipt of GIPR common stock in exchange of GIPR preferred stock 0 (11,039)
Change in construction advances 153 1,199
Issuance of Class C OP Units in the acquisition of a real estate investment 5,850 0
Reinvested distributions from common stockholders 1,882 2,114
(Decrease) increase in accrued distributions (50) 180
Class C OP Units    
Cash Flows from Financing Activities:    
Distributions paid to common stockholders and non-controlling interest holders (12,571) (10,443)
Supplemental Schedule of Noncash Investing and Financing Activities:    
Conversion and Exchange of stock class 0 (17,705)
Common Class C    
Supplemental Schedule of Noncash Investing and Financing Activities:    
Conversion and Exchange of stock class $ 0 $ 60,518