v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (8,470) $ (9,351)
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:    
Depreciation 13,489 11,072
Amortization 6,051 3,725
Loan cost amortization 6,098 12,710
Changes in fair value of derivative liabilities 2,335 (3,768)
Above (below) market lease amortization, net (2,079) 13
Paid-in-kind interest 3,739 1,610
Straight-line expense 32 35
Share-based compensation 0 14
Gain on disposal of properties (2,604) (2,055)
Credit losses on operating lease receivables 361 239
Impairment of assets held for sale 760 2,300
Net changes in assets and liabilities:    
Rent and other tenant receivables, net (1,221) 1,001
Unbilled rent (740) (1,220)
Deferred costs and other assets, net 4,381 (427)
Accounts payable, accrued expenses and other liabilities 8,626 1,143
Net cash provided by operating activities 30,758 17,041
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment property acquisitions, net of cash acquired (135,510) 0
Capital expenditures (8,511) (6,412)
Cash received from disposal of properties 10,509 11,513
Net cash (used in) provided by investing activities (133,512) 5,101
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments for deferred financing costs (12,683) (7,813)
Dividends and distributions paid on noncontrolling interests (2,688) 0
Loan proceeds 400,000 97,650
Loan principal payments (263,815) (105,305)
Preferred stock redemption 0 (8,336)
Loan prepayment penalty (2,614) (687)
Net cash provided by (used in) financing activities 118,200 (24,491)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 15,446 (2,349)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year 40,419 42,768
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year 55,865 40,419
Non-cash Transactions:    
Paycheck Protection Program forgiveness 0 552
Initial fair value of warrants 0 2,018
Initial fair value of derivative liability at issuance of convertible notes 0 5,932
Accretion of Preferred Stock discounts 584 600
Deemed contribution related to Preferred Stock discount 0 5,040
Other Cash Transactions:    
Cash paid for taxes 0 2
Cash paid for interest 19,957 18,973
Cash and cash equivalents 28,491 22,898
Restricted cash 27,374 17,521
Cash, cash equivalents, and restricted cash 55,865 40,419
Common units    
Non-cash Transactions:    
Conversion of common units and preferred stock to common stock 160 33
Series B Preferred Stock    
Non-cash Transactions:    
Conversion of common units and preferred stock to common stock $ 104 $ 72

Source

PDF HTML
10-K Filing
ZIP XLS HTML
XBRL