v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (2,041) $ (6,718)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 44,024 43,039
Gain on sale of investment property (4,985) 0
Amortization of debt issuance costs 982 897
Amortization of acquired market leases, net (591) (335)
Amortization of equity-based compensation 115 101
Reduction in the carrying amount of the right-of-use-asset 263 277
Straight-line income, net (587) (1,656)
Other non-cash adjustments 184 157
Changes in assets and liabilities:    
Accounts payable and accrued expenses 1,158 3,807
Accounts and rent receivable 2,123 (106)
Other assets 437 (183)
Due to related parties 86 132
Operating lease liability 247 232
Other liabilities (1,594) (494)
Net cash flows provided by operating activities 39,821 39,150
Cash flows from investing activities:    
Capital expenditures (13,415) (12,106)
Proceeds from sale of investment property 30,327 0
Net cash flows provided by (used in) investing activities 16,912 (12,106)
Cash flows from financing activities:    
Payment of credit facility (37,000) (11,000)
Proceeds from credit facility 19,000 4,000
Payment of mortgages payable (18,727) (266)
Proceeds from distribution reinvestment plan 63 0
Shares repurchased (2,001) 0
Distributions paid (14,689) (14,692)
Net cash flows used in financing activities (53,354) (21,958)
Net increase in cash, cash equivalents and restricted cash 3,379 5,086
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 11,798 11,982
Supplemental disclosure of cash flow information:    
Cash paid for interest 28,777 29,051
Supplemental schedule of non-cash investing and financing activities:    
Accrued capital expenditures $ 1,248 $ 1,492