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 $ (11,027) $ (8,995)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 3,603 4,948
Amortization of loan costs and discounts 2,335 1,209
Loss on extinguishment of debt 2,044 0
(Gain) loss on interest rate hedge (153) 179
Loss on sale of real estate 1,115 0
Equity based payment 1,596 1,488
Change in fair value of Earn-Out Liability (0) (235)
Changes in operating assets and liabilities    
Due to/from related parties 0 3
Accounts payable and accrued expenses (114) 596
Other assets 122 853
Accounts receivable, net 623 195
Net cash provided by operating activities 144 241
Cash flows from investing activities:    
Capital expenditures (349) (551)
Insurance reimbursement for capital expenditures 0 120
Proceeds from note receivable 0 3,120
Proceeds from sale of investment in real estate 15,368 0
Net cash provided by investing activities 15,019 2,689
Cash flows from financing activities:    
Proceeds from Line of Credit 0 2,298
Payments on Line of Credit (3,710) 0
Proceeds from notes payable 571 0
Payments on notes payable (9,783) (1,455)
Payment of debt prepayment costs (2,044) 0
Distributions to non-controlling interest holders (90) (93)
Loan fees (1,986) 0
Share repurchase plan (1,437) (287)
Shares repurchased for vesting of employee awards (156) (135)
Preferred redemption payments (507) (2,693)
Preferred dividend payments (398) (529)
Net cash used in financing activities (19,540) (2,894)
Net change in cash and cash equivalents and restricted cash (4,377) 36
Cash and cash equivalents and restricted cash, beginning of period 15,284 15,819
Cash and cash equivalents and restricted cash, end of period 10,907 15,855
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 8,349 10,655
Restricted cash at beginning of period 6,935 5,164
Cash and cash equivalents and restricted cash, beginning of period 15,284 15,819
Cash and cash equivalents at end of period 5,067 10,621
Restricted cash at end of period 5,840 5,234
Cash and cash equivalents and restricted cash, end of period 10,907 15,855
Supplemental disclosures of cash flow information:    
Interest Paid 6,489 5,881
Non-cash investing and financing activities:    
Distributions declared not yet paid 65 80
Requested preferred redemptions not yet paid 172 239
Accrued capital expenditures $ 726 $ 89