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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (51,685) $ 3,978
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 44,705 50,472
Amortization of above and below market leases (39) (88)
Shares issued as compensation 315 394
Amortization of other comprehensive income into interest expense (2,789)  
Loss on extinguishment of debt 106 78
Gain on consolidation of Sponsored REIT (394)  
Impairment and loan loss reserve   1,857
(Gain) loss on sale of properties and impairment of assets held for sale, net (32,085) 24,077
Changes in operating assets and liabilities:    
Tenant rent receivables (653) 645
Straight-line rents 427 (4,064)
Lease acquisition costs (903) (2,659)
Prepaid expenses and other assets (644) (1,670)
Accounts payable and accrued expenses (2,516) (6,388)
Accrued compensation (465) (1,545)
Tenant security deposits (79) (493)
Payment of deferred leasing commissions (5,926) (7,086)
Net cash provided by operating activities 11,545 9,354
Cash flows from investing activities:    
Property improvements, fixtures and equipment (26,024) (38,035)
Consolidation of Sponsored REIT 3,048  
Proceeds received from sales of properties 37,062 102,007
Net cash provided by investing activities 14,086 63,972
Cash flows from financing activities:    
Distributions to stockholders (3,099) (52,956)
Proceeds received from termination of interest rate swap 4,206  
Stock repurchases   (4,843)
Borrowings under bank note payable 67,000 80,000
Repayments of bank note payable (35,000) (15,000)
Repayment of term loan payable (50,000) (110,000)
Deferred financing costs (2,327) (2,561)
Net cash used in financing activities (19,220) (105,360)
Net increase (decrease) in cash, cash equivalents and restricted cash 6,411 (32,034)
Cash, cash equivalents and restricted cash, beginning of year 6,632 40,751
Cash, cash equivalents and restricted cash, end of period 13,043 8,717
Cash paid for:    
Interest 16,704 13,692
Taxes 337 664
Non-cash investing activities:    
Accrued costs for purchase of real estate assets 2,562 $ 7,466
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