v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES              
Net loss $ (10,108) $ (43,753) $ (14,424) $ (31,538) $ (53,861) $ (45,962)  
Adjustments to reconcile net loss to cash used in operating activities:              
Depreciation         24,809 12,872  
Amortization         2,122 1,800  
Amortization of deferred financing costs         27 27  
Straight-line rent amortization         1,047 857  
Stock compensation expense         2,708 3,636  
Other         9 (109)  
Loss on disposal         462    
Loss on assets held for sale 1,434       1,434    
Impairment charges 0       339    
Equity in earnings (losses) from unconsolidated ventures, net of distributions         659 (952)  
Provision for (recovery of) doubtful accounts         636 (1,124)  
Net Changes:              
Accounts receivable         (2,042) (1,011)  
Other assets and deferred expenses         10,964 502  
Deferred expenses         (1,041) (51)  
Accounts payable and other liabilities         (35) 8,283  
Cash used in operating activities         (11,763) (21,232)  
CASH FLOWS FROM INVESTING ACTIVITIES              
Operating property improvements         (20,894) (17,930)  
Property development and redevelopment           (5,205)  
Cash and restricted cash received upon consolidation of previously unconsolidated entity           685  
Investments in unconsolidated ventures         (1,350)    
Distributions from unconsolidated ventures           3,699  
Proceeds from sale of asset held for sale         137,416    
Cash provided by (used in) investing activities         115,172 (18,751)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Principal payments on mortgages payable         (62,336) (988)  
Taxes paid on restricted stock vesting         (793) (605)  
Preferred distributions to noncontrolling interest in subsidiary         (700) (700)  
Fees paid in connection with equity issuances           (206)  
Cash used in financing activities         (63,829) (2,499)  
Net change in cash, cash equivalents and restricted cash         39,580 (42,482)  
Cash, cash equivalents and restricted cash at beginning of period   $ 87,394   $ 167,845 87,394 167,845 $ 167,845
Cash, cash equivalents and restricted cash at end of period 126,974   125,363   126,974 125,363 87,394
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH              
Cash and cash equivalents 117,795   123,276   117,795 123,276 77,808
Restricted cash 9,179   2,087   9,179 2,087 9,586
Cash, cash equivalents and restricted cash at end of period $ 126,974   $ 125,363   126,974 125,363 $ 87,394
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION              
Interest paid         2,392 3,525  
Interest capitalized           3,348  
NON-CASH TRANSACTIONS              
Accrued property improvements, developments, and redevelopments         6,437 (894)  
Capitalized stock compensation         $ 61 $ 259