v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flow from operating activities:    
Net (loss) income $ (366) $ 49,589
Adjustments to reconcile net (loss) income to net cash flow (used for) provided by operating activities:    
Depreciation and amortization 8,911 26,173
Stock-based compensation 586 701
Amortization and write-off of debt issuance costs, commitment fees and fair market value of debt adjustments 0 1,891
Equity in net loss of joint ventures 601 29
Gain on sale of joint venture interests (19,989) 0
Gain on disposition of real estate, net (11,811) (54,265)
Impairment charges 18,450 0
Operating cash distributions from joint ventures 0 61
Loss on abandoned tenant lease costs 0 911
Net change in accounts receivable 2,512 6,308
Net change in accounts payable and accrued expenses (13,829) (3,176)
Net change in other operating assets and liabilities 480 (5,289)
Total adjustments (14,089) (26,656)
Net cash flow (used for) provided by operating activities (14,455) 22,933
Cash flow from investing activities:    
Real estate developed and improvements to operating real estate (4,002) (5,013)
Proceeds from disposition of real estate 116,315 91,420
Proceeds from disposition of joint venture 20,713 0
Distributions from unconsolidated joint venture 0 439
Equity contributions to joint ventures (10) (8)
Net cash flow provided by investing activities 133,016 86,838
Cash flow from financing activities:    
Repayment of mortgage debt 0 (14,724)
Payment of debt issuance costs 0 (6)
Payment of debt extinguishment costs   (92)
Repurchase of common shares in conjunction with equity award plans (35) (93)
Net cash flow used for financing activities (35) (14,915)
Net increase in cash, cash equivalents and restricted cash 118,526 94,856
Cash, cash equivalents and restricted cash, beginning of period 122,815 67,666
Cash, cash equivalents and restricted cash, end of period $ 241,341 $ 162,522