Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (8,874) $ (9,882)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 28,166 34,353
Non-cash revenue adjustments, net (2,656) (1,092)
Impairments 3,754 1,602
Loss on extinguishment of debt, net 0 468
Amortization of deferred financing costs 1,048 1,172
Equity-based compensation 526 270
Equity in loss of unconsolidated joint venture, net 123 41
Changes in assets and liabilities:    
Accounts receivable, net and other assets, net (4,308) (1,989)
Accounts payable, accrued expenses and other liabilities, net (6,338) 3,210
Net cash provided by operating activities 11,441 28,153
Cash flows from investing activities:    
Capital expenditures and leasing costs (3,138) (1,836)
Return of investment from unconsolidated joint venture 421 601
Proceeds from the settlement of property-related insurance claims 250 0
Net cash used in investing activities (2,467) (1,235)
Cash flows from financing activities:    
Repayment of bridge facility, including debt extinguishment costs 0 (355,026)
Proceeds from mortgages payable 0 355,000
Proceeds from credit facility revolver 0 70,000
Repayments of credit facility revolver 0 (69,000)
Payments of deferred financing costs (40) (3,096)
Repurchases of common stock to settle tax obligations (74) 0
Payments of deferred equity offering costs (10) 0
Distributions paid (5,664) 0
Other financing activities (56) (46)
Net cash used in financing activities (5,844) (2,168)
Net change in cash and cash equivalents and restricted cash 3,130 24,750
Cash and cash equivalents and restricted cash at beginning of period 55,311 29,318
Cash and cash equivalents and restricted cash at end of period 58,441 54,068
Reconciliation of Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents at beginning of period 20,638 29,318
Restricted cash at beginning of period 34,673 0
Cash and cash equivalents and restricted cash at beginning of period 55,311 29,318
Cash and cash equivalents at end of period 23,755 18,585
Restricted cash at end of period 34,686 35,483
Cash and cash equivalents and restricted cash at end of period $ 58,441 $ 54,068