v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Cash flows from operating activities:    
Net loss $ (425) $ (798)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 2,384 2,373
Net realized (gain) loss upon sale of real estate (231) 91
Net realized loss (gain) from sale of marketable securities 1 (1)
Net unrealized (gain) loss on investments held at fair value (7) 3
Share-based compensation 18 19
Amortization of intangible lease assets and liabilities 329 370
Amortization of deferred financing costs 147 229
Straight line rent (132) (375)
Amortization of discount on note to affiliate 0 50
Changes in assets and liabilities:    
Receivables, net (521) (131)
Deferred leasing costs (21) (22)
Prepaid and other assets (504) (830)
Accounts payable and accrued expenses 532 199
Other liabilities (174) 124
Due to affiliates (6) 34
Net cash provided by operating activities 1,390 1,335
Cash flows from investing activities:    
Proceeds from sale of real estate assets 25,736 4,574
Improvements to real estate assets (592) (1,721)
Investment in marketable securities (18) (25)
Proceeds from sale of marketable securities 16 25
Net cash provided by investing activities 25,142 2,853
Cash flows from financing activities:    
Proceeds from line of credit 3,700 5,200
Repayment of line of credit (17,750) 0
Repayment of mortgage loans payable (16,141) (121)
Proceeds from issuance of common stock 15,345 6,530
Payment of offering costs (561) (487)
Distributions to investors (2,042) (2,123)
Redemption of common stock (9,415) (12,142)
Net cash used in financing activities (26,864) (3,143)
Net (decrease) increase in cash, cash equivalents, and restricted cash (332) 1,045
Cash, cash equivalents, and restricted cash beginning of period 7,236 8,506
Cash, cash equivalents, and restricted cash end of period 6,904 9,551
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Common stock issued through the distribution reinvestment plan 1,216 1,541
Proceeds from issuance of common stock not yet received 125 75
Redemption of common stock not yet paid 2,894 2,303
Accrued offering costs not yet paid 157 169
Capital expenditures not yet paid 61 464
Supplemental Cash Flow Disclosures:    
Interest paid $ 3,027 $ 3,112