v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income/(loss) $ 2,908 $ (10,014)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
Depreciation and amortization 3,613 3,545
Gain on debt extinguishment 0 (1,929)
Loss from investment in unconsolidated affiliated real estate entity 1,852 1,810
Unrealized (gain)/loss on marketable equity securities (8,099) 2,293
Amortization of deferred financing costs 580 1,308
Other non-cash adjustments 31 117
Changes in assets and liabilities:    
Decrease/(increase) in other assets 46 (609)
Increase in accounts payable, accrued expenses and other liabilities 67 173
Net cash provided by/(used in) operating activities 998 (3,306)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment property (507) (479)
Purchase of marketable securities (22) (1,008)
Proceeds from sale of marketable securities 0 2,500
Extension fees received in connection with disposition of real estate   1,300
Investment in related party joint venture (7) (7)
Distributions from related party joint venture 14 22
Investment in unconsolidated affiliated real estate entity (3,461) (18)
Net cash (used in)/provided by investing activities (3,983) 2,310
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from mortgage financing 0 67,478
Mortgage principal payments (380) (65,439)
Payment of financing fees and expenses 0 (1,718)
Redemption and cancellation of common shares (1,789) (1,823)
Contributions received from noncontrolling interests 0 353
Distributions paid to noncontrolling interests (334) (1,775)
Net cash used in financing activities (2,503) (2,924)
Change in cash, cash equivalents and restricted cash including those classified within assets held for sale (5,488) (3,920)
Less: decrease in cash, cash equivalents and restricted cash classified within assets held for sale 0 1,153
Change in cash, cash equivalents and restricted cash (5,488) (2,767)
Cash, cash equivalents and restricted cash, beginning of year 69,541 35,119
Cash, cash equivalents and restricted cash, end of period 64,053 32,352
The following is a summary of the Company’s cash, cash equivalents, and restricted cash for the periods presented:    
Cash and cash equivalents 57,189 27,941
Restricted cash 6,864 4,411
Total cash, cash equivalents and restricted cash $ 64,053 $ 32,352