v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,346) $ (8,116)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:    
Depreciation and amortization 1,803 1,768
Loss from investment in unconsolidated affiliated real estate entity 922 890
Unrealized (gain)/loss on marketable equity securities (311) 1,238
Amortization of deferred financing costs 290 710
Other non-cash adjustments 5 42
Changes in assets and liabilities:    
Decrease in other assets 2,213 1,363
Decrease in accounts payable, accrued expenses and other liabilities (215) (69)
Net cash provided by/(used in) operating activities 361 (2,174)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment property (331) (250)
Purchase of marketable securities (11) (1,008)
Proceeds from sale of marketable securities 0 1,000
Investment in related party joint venture (6) (6)
Distributions from related party joint venture 11 18
Investment in unconsolidated affiliated real estate entities (1,941) (16)
Net cash used in investing activities (2,278) (262)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from mortgage financing 0 67,170
Mortgage principal payments (200) (65,271)
Payment of loan fees and expenses 0 (1,368)
Redemption and cancellation of common shares (874) (949)
Contributions received from noncontrolling interests 0 115
Distributions paid to noncontrolling interests (159) (1,583)
Net cash used in financing activities (1,233) (1,886)
Change in cash, cash equivalents and restricted cash including those classified within assets held for sale (3,150) (4,322)
Less: decrease in cash, cash equivalents and restricted cash classified within assets held for sale 0 741
Change in cash, cash equivalents and restricted cash (3,150) (3,581)
Cash, cash equivalents and restricted cash, beginning of year 69,541 35,119
Cash, cash equivalents and restricted cash, end of period 66,391 31,538
The following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in its balance sheets for the periods presented:    
Cash and cash equivalents 59,217 26,668
Restricted cash 7,174 4,870
Total cash, cash equivalents and restricted cash $ 66,391 $ 31,538