XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flow From Operating Activities:    
Net income $ 3,963 $ 2,302
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Gain on real estate transactions (3,891) 0
Depreciation and amortization 2,901 3,185
(Recovery) provision of bad debts (25) 29
Equity in income from unconsolidated joint ventures 159 (483)
Changes in assets and liabilities:    
Other assets (1,762) 1,359
Related party receivable (1,439) (464)
Accrued interest 51 142
Accounts payable and other liabilities (7,365) (2,203)
Net cash (used in) provided by operating activities (7,408) 3,867
Cash Flow From Investing Activities:    
Collection of notes receivable 1,664 3,005
Purchase of short-term investments (16,266) (17,399)
Redemption and/or maturity of short-term investments 21,207 31,694
Development and renovation of real estate (26,445) (5,726)
Deferred leasing costs (290) 0
Proceeds from sale of assets 3,500 0
Net cash (used in) provided by investing activities (16,630) 11,574
Cash Flow From Financing Activities:    
Proceeds from mortgages and other notes payable 17,131 0
Payments on mortgages, other notes and bonds payable (852) (858)
Repurchase of IOR shares (679) (587)
Deferred financing costs 0 (11)
Net cash provided by (used in) financing activities 15,600 (1,456)
Net (decrease) increase in cash, cash equivalents and restricted cash (8,438) 13,985
Cash, cash equivalents and restricted cash, beginning of period 40,475 79,067
Cash, cash equivalents and restricted cash, end of period $ 32,037 $ 93,052