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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (102,976) $ (57,311) $ (97,474)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 100,820 109,111 131,367
Non-cash revenue adjustments, net 180 (5,977) 171
Impairments 47,552 33,112 66,359
Gain on disposition of real estate assets 0 (31) (2,352)
Loss on extinguishment of debt, net 1,078 504 468
Amortization of deferred financing costs 3,686 3,974 4,364
Equity-based compensation 3,757 2,728 1,756
Equity in loss of unconsolidated joint venture, net 740 435 524
Changes in assets and liabilities:      
Accounts receivable, net and other assets, net 2,546 1,340 2,247
Accounts payable, accrued expenses and other liabilities, net (3,123) 1,203 6,802
Net cash provided by operating activities 54,260 89,088 114,232
Cash flows from investing activities:      
Investment in real estate assets (34,734) 0 0
Capital expenditures and leasing costs (22,576) (18,442) (11,624)
Proceeds from disposition of real estate, net 5,069 21,032 31,854
Return of investment from unconsolidated joint venture 987 1,840 2,247
Origination of member loan to unconsolidated joint venture (1,400) 0 0
Principal repayments received on notes receivable 1,200 0 0
Deposits for real estate assets (1,350) (2,340) 0
Uses and refunds of deposits for real estate assets 1,350 2,340 0
Proceeds from the settlement of property-related insurance claims 191 859 0
Net cash (used in) provided by investing activities (51,263) 5,289 22,477
Cash flows from financing activities:      
Repayment of bridge facility, including debt extinguishment costs 0 0 (355,026)
Proceeds from mortgages payable 18,000 0 355,000
Repayment of credit facility term loan 0 (175,000) 0
Proceeds from credit facility revolver 36,000 175,000 70,000
Repayments of credit facility revolver (33,000) (59,000) (160,000)
Payments of deferred financing costs (1,302) (5,663) (3,096)
Repurchases of common stock under Share Repurchase Program 0 (5,018) 0
Repurchases of common stock to settle tax obligations (170) (89) (20)
Payments of deferred equity offering costs 0 (41) (535)
Distributions paid (22,355) (22,578) (16,991)
Other financing activities (198) (101) (48)
Net cash used in financing activities (3,025) (92,490) (110,716)
Net change in cash and cash equivalents and restricted cash (28) 1,887 25,993
Cash and cash equivalents and restricted cash at beginning of year 57,198 55,311 29,318
Cash and cash equivalents and restricted cash at end of year 57,170 57,198 55,311
Reconciliation of Cash and Cash Equivalents and Restricted Cash      
Cash and cash equivalents 15,600 22,473 20,638
Restricted cash 41,570 34,725 34,673
Cash and cash equivalents and restricted cash $ 57,170 $ 57,198 $ 55,311

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