v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (26,132) $ (29,311)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 23,763 22,818
Amortization of above and below market leases (1)  
Shares issued as compensation 180 225
Loss on extinguishment of debt 1,267 5
Loss on sale of properties and impairment of assets held for sale, net 7,691 12,900
Changes in operating assets and liabilities:    
Tenant rent receivables (965) (285)
Straight-line rents 951 (4)
Lease acquisition costs (269) (115)
Prepaid expenses and other assets 239 (287)
Accounts payable and accrued expenses (5,171) (10,924)
Accrued compensation (2,045) (1,186)
Tenant security deposits 9 52
Payment of deferred leasing commissions (1,634) (2,247)
Net cash used in operating activities (2,117) (8,359)
Cash flows from investing activities:    
Property improvements, fixtures and equipment (5,834) (7,320)
Proceeds received from sales of properties   6,099
Net cash used in investing activities (5,834) (1,221)
Cash flows from financing activities:    
Distributions to stockholders (1,037) (2,071)
Proceeds received from Initial Term Loans 258,500  
Cost of extinguished debt (1,018)  
Repayments of Term Loans payable (125,995) (260)
Repayments of Series A&B Senior Notes (122,922) (254)
Deferred financing costs (7,689)  
Net cash used in financing activities (161) (2,585)
Net decrease in cash, cash equivalents and restricted cash (8,112) (12,165)
Cash, cash equivalents and restricted cash, beginning of year 30,571 42,683
Cash, cash equivalents and restricted cash, end of period 22,459 30,518
Cash paid for:    
Interest 12,376 10,176
Taxes 210 304
Non-cash investing activities:    
Accrued costs for purchases of real estate assets 1,434 $ 1,379
Non-cash financing activities:    
Initial Term Loan original issue discount $ 16,500