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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (16,103,000) $ (20,966,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization, including amortization of capitalized loan costs 52,277,000 55,425,000
(Gain) loss on sale of real estate and other investments (271,000) 0
Share-based compensation expense 2,166,000 1,691,000
Impairment of real estate investments 9,700,000 14,543,000
Provision for bad debt 637,000 620,000
Non-cash casualty loss 939,000 511,000
Amortization of debt premiums and discounts 836,000 817,000
Other, net (162,000) 340,000
Changes in other assets and liabilities:    
Other assets 864,000 854,000
Accounts payable and accrued expenses (6,755,000) (3,141,000)
Net cash provided by operating activities 44,128,000 50,694,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Net proceeds from sale of real estate and other investments 29,526,000 0
Payments for acquisitions of real estate investments 0 (150,076,000)
Payments for improvements of real estate investments (12,951,000) (14,771,000)
Other investing activities 359,000 379,000
Net cash provided by (used by) investing activities 16,934,000 (164,468,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable (53,837,000) (14,002,000)
Proceeds from revolving lines of credit 107,546,000 237,907,000
Principal payments on revolving lines of credit (86,471,000) (69,236,000)
Repurchase of common shares (2,516,000) 0
Distributions paid to common shareholders (25,830,000) (25,322,000)
Distributions paid to Series D preferred unitholders (115,000) (320,000)
Distributions paid to noncontrolling interests – Operating Partnership and Series E preferred units (4,443,000) (4,553,000)
Payments related to tax withholding for share-based compensation (423,000) 0
Other financing activities (181,000) (386,000)
Net cash provided by (used by) financing activities (66,270,000) 118,838,000
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (5,208,000) 5,064,000
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 15,651,000 13,129,000
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 10,443,000 18,193,000
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued capital expenditures 1,897,000 3,148,000
Distributions declared but not paid to common shareholders 13,618,000 13,642,000
Retirement of shares withheld for taxes 0 296,000
Involuntary conversion of assets (1,420,000) (628,000)
Non-cash interest income 931,000 842,000
Unrealized gain on investment (209,000) (48,000)
Contribution to noncontrolling interests - consolidated real estate entities through issuance of note receivable 0 1,428,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 19,348,000 16,429,000
Balance Sheet Description    
Cash and cash equivalents 8,560,000 12,378,000
Restricted cash 1,883,000 5,815,000
Total cash, cash equivalents, and restricted cash 10,443,000 18,193,000
Series D Preferred Units    
CASH FLOWS FROM FINANCING ACTIVITIES    
Redemption of Series D preferred units 0 (5,250,000)
Operating Partnership Units    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Operating partnership/ Series E preferred units converted to common shares 1,601,000 535,000
Series E Preferred Units    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Operating partnership/ Series E preferred units converted to common shares $ 608,000 $ 338,000