v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net loss $ (18,777) $ (53,401)
Net (income) loss from discontinued operations (564) 27,252
Net loss from continuing operations (19,341) (26,149)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation of building and building improvements 8,660 10,027
Amortization of leasing costs and in-place lease intangible assets 4,700 3,684
Amortization of above- and (below-) market leases, net (2,452) (1,724)
Amortization of deferred financing costs and debt premium 1,107 1,068
Amortization of swap interest 31 31
Deferred rent (686) (1,242)
Net loss from disposition of assets 38 479
Loss from investments 98 23
Real estate impairment provision 0 15,036
Share-based compensation 1,484 1,452
Discount amortization - note receivable 0 (60)
Change in operating assets and liabilities:    
Deferred leasing costs and other assets (41) 2,275
Accrued expenses and other liabilities (3,086) (6,375)
Net cash used in operating activities - continuing operations (9,488) (1,475)
Net cash (used in) provided by operating activities - discontinued operations (261) 21,691
Net cash (used in) provided by operating activities (9,749) 20,216
Investing Activities:    
Acquisition of properties, net (12,945) 0
Proceeds from disposition of properties 0 33,004
Payments for construction in progress (1,832) (225)
Proceeds from repayment of note receivable 0 15,000
Net cash (used in) provided by investing activities - continuing operations (14,777) 47,779
Net cash provided by (used in) investing activities - discontinued operations 825 (891)
Net cash (used in) provided by investing activities (13,952) 46,888
Financing Activities:    
Payment for debt extinguishment (1,063) 0
Offering costs 0 (10)
Repurchase of common shares to satisfy employee tax withholding requirements (1,348) (113)
Distributions to noncontrolling interests (273) (672)
Dividends to common shareholders (3,755) (8,318)
Financing lease payment 0 (211)
Net cash used in financing activities (6,439) (9,324)
Net (decrease) increase in cash, cash equivalents and restricted cash (30,140) 57,780
Cash, cash equivalents and restricted cash at the beginning of the period 146,440 154,210
Cash, cash equivalents and restricted cash at the end of the period 116,300 211,990
Supplemental disclosure of cash flow information:    
Cash paid for interest 10,829 14,909
Supplemental disclosures of non-cash investing and financing transactions:    
Dividends payable to common shareholders 0 8,423
Distributions payable to noncontrolling interests 0 668
Operating lease right-of-use assets obtained in exchange for lease liabilities 4,046 0
Exchange of noncontrolling interest to common stock 93 1,560
Accrued for construction in progress 16 232
Accrued tenant obligations and other 5,790 7,599
Decrease in fair value swap agreement 1,966 (12,085)
Note receivable, net $ 0 $ 60