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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (6,014) $ (13,268)
Adjustments to reconcile net income to net cash (used in) operating activities:    
Depreciation and amortization expense 30,634 34,863
Amortization of above and below market leases (30) (54)
Shares issued as compensation 315 394
Amortization of other comprehensive income into interest expense (1,726)  
Loss on extinguishment of debt 67  
Gain on consolidation of Sponsored REIT (394)  
Impairment and loan loss reserve   1,140
Gain on sale of properties and impairment of asset held for sale, net 7,586  
Changes in operating assets and liabilities:    
Tenant rent receivables 263 (673)
Straight-line rents 322 (2,904)
Lease acquisition costs (824) (2,426)
Prepaid expenses and other assets (267) (1,153)
Accounts payable and accrued expenses (8,747) (18,268)
Accrued compensation (1,358) (2,452)
Tenant security deposits (44) (400)
Payment of deferred leasing commissions (4,137) (5,033)
Net cash provided by (used in) operating activities 474 (10,234)
Cash flows from investing activities:    
Property improvements, fixtures and equipment (18,369) (21,496)
Consolidation of Sponsored REIT 3,048  
Proceeds received from sales of properties 28,098  
Net cash provided by (used in) investing activities 12,777 (21,496)
Cash flows from financing activities:    
Distributions to stockholders (2,065) (51,924)
Proceeds received from termination of interest rate swap 4,206  
Stock repurchases   (4,843)
Borrowings under bank note payable 62,000 60,000
Repayments of bank note payable (35,000) (5,000)
Repayment of term loan payable (40,000)  
Deferred financing costs (2,327) (2,561)
Net cash used in financing activities (13,186) (4,328)
Net increase (decrease) in cash, cash equivalents and restricted cash 65 (36,058)
Cash, cash equivalents and restricted cash, beginning of year 6,632 40,751
Cash, cash equivalents and restricted cash, end of period 6,697 4,693
Cash paid for:    
Interest 12,345 10,209
Taxes 337 664
Non-cash investing activities:    
Accrued costs for purchase of real estate assets 4,643 $ 6,077
Investment in related party mortgage loan receivable converted to real estate assets and acquired real estate in conjunction with variable interest entity consolidation $ 20,000