v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES:        
Net Loss $ (1,294) $ (53) $ (1,703) $ (4,629)
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:        
Depreciation and amortization     14,767 7,241
Deferred financing cost amortization     1,721 1,348
Changes in fair value of derivative liabilities (3,030) (2,085) (4,882) 1,877
Above (below) market lease amortization, net (1,237) (7) (2,633) 16
Paid-in-kind interest     2,006 2,099
Loss on repurchase of debt securities     594 0
Unrealized gain on investment securities, net     (31) 0
Straight-line expense     15 16
Loss on disposal of properties 0 0 0 15
Credit losses on operating lease receivables 157 137 182 190
Impairment of assets held for sale     0 760
Net changes in assets and liabilities:        
Receivables, net     2,315 598
Deferred costs and other assets, net     (1,358) (2,543)
Accounts payable, accrued expenses and other liabilities     514 2,963
Net cash provided by operating activities     11,507 9,951
INVESTING ACTIVITIES:        
Investment property acquisitions     (191) (1,538)
Expenditures for real estate improvements     (6,845) (3,495)
Purchase of marketable securities     (3,000) 0
Cash received from disposal of properties     0 1,786
Net cash used in investing activities     (10,036) (3,247)
FINANCING ACTIVITIES:        
Payments for deferred financing costs     (4,116) (3,729)
Dividends and distributions paid on noncontrolling interests     (5,376) 0
Loan proceeds     114,170 75,000
Loan principal payments     (107,922) (70,384)
Repurchase of debt securities     (1,189) 0
Loan prepayment penalty     (1,758) (1,458)
Net cash used in financing activities     (6,191) (571)
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     (4,720) 6,133
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period     55,865 40,419
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 51,145 46,552 51,145 46,552
Supplemental Disclosure:        
Cash and cash equivalents 28,735 24,606 28,735 24,606
Restricted cash 22,410 21,946 22,410 21,946
Cash, cash equivalents, and restricted cash $ 51,145 $ 46,552 $ 51,145 $ 46,552

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