v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (11,144) $ (35,103)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 7,944 7,611
Amortization of deferred financing costs 869 457
Amortization of deferred costs and intangible assets 155 146
Loss on Impairment of long-lived assets 0 33,780
Deferred rent (197) 22
Stock-based compensation 1,086 1,143
Bad debt (recovery) expense (13) (13)
Changes in operating assets and liabilities:    
Tenant and other receivables 795 (693)
Prepaid expenses, other assets and deferred costs (1,463) (2,149)
Accounts payable and accrued liabilities 3,892 297
Security deposits 173 64
Other liabilities 1,471 1,114
Net cash provided by operating activities 3,568 6,676
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to land, buildings, and improvements (1,925) (9,680)
Net cash provided (used) in investing activities (1,925) (9,680)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments of mortgage notes (434) (578)
Proceeds from mortgage notes 0 6,371
Dividends and distributions (4,712) 0
Loan issuance and extinguishment costs 0 (250)
Net cash provided (used) by financing activities (5,146) 5,543
Net increase in cash and cash equivalents and restricted cash (3,503) 2,539
Net cash and cash equivalents and restricted cash within assets held for sale 0 (1,480)
Cash and cash equivalents and restricted cash - beginning of period 58,154 38,052
Cash and cash equivalents and restricted cash - end of period 54,651 39,111
Cash and cash equivalents 30,815 19,896
Restricted cash 27,339 18,156
Cash and cash equivalents 26,083 21,288
Restricted cash 28,568 17,823
Supplemental cash flow information:    
Cash paid for interest, net of capitalized interest of $2,780 in 2025 10,609 11,188
Non-cash interest capitalized to real estate under development 0 566
Additions to investment in real estate included in accounts payable and accrued liabilities 2,559 9,206
Non-cash dividend declared $ 0 $ 4,614