v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (1,182) $ (4,757)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 29,691 28,737
Gain on sale of investment property (4,985) 0
Amortization of debt issuance costs 655 598
Amortization of acquired market leases, net (158) (233)
Amortization of equity-based compensation 76 68
Reduction in the carrying amount of the right-of-use-asset 176 186
Straight-line income, net (290) (1,022)
Other non-cash adjustments 122 97
Changes in assets and liabilities:    
Accounts payable and accrued expenses 759 1,754
Accounts and rent receivable 822 1,078
Other assets 242 (46)
Due to related parties 151 104
Operating lease liability 164 153
Other liabilities (1,700) (119)
Net cash flows provided by operating activities 24,543 26,598
Cash flows from investing activities:    
Capital expenditures (9,540) (8,079)
Proceeds from sale of investment property 30,327 0
Net cash flows provided by (used in) investing activities 20,787 (8,079)
Cash flows from financing activities:    
Payment of credit facility (32,000) (7,000)
Proceeds from credit facility 19,000 4,000
Payment of mortgages payable (18,727) (176)
Proceeds from distribution reinvestment plan 20 0
Shares repurchased (1,001) 0
Distributions paid (9,798) (9,796)
Net cash flows used in financing activities (42,506) (12,972)
Net increase in cash, cash equivalents and restricted cash 2,824 5,547
Cash, cash equivalents and restricted cash, at beginning of the period 8,419 6,896
Cash, cash equivalents and restricted cash, at end of period 11,243 12,443
Supplemental disclosure of cash flow information:    
Cash paid for interest 19,208 19,353
Supplemental schedule of non-cash investing and financing activities:    
Accrued capital expenditures $ 1,464 $ 1,483