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
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (41,096) $ (78,481)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 83,056 100,874
Non-cash revenue adjustments, net (6,562) (2,683)
Impairments 26,976 54,161
Gain on disposition of real estate assets (18) (1,059)
Loss on extinguishment of debt, net 504 468
Amortization of deferred financing costs 3,041 3,295
Equity-based compensation 1,902 1,153
Equity in loss of unconsolidated joint venture, net 326 252
Changes in assets and liabilities:    
Accounts receivable, net and other assets, net (2,545) 502
Accounts payable, accrued expenses and other liabilities, net 4,004 7,435
Net cash provided by operating activities 69,588 85,917
Cash flows from investing activities:    
Capital expenditures and leasing costs (12,746) (7,392)
Proceeds from disposition of real estate, net 13,767 22,281
Return of investment from unconsolidated joint venture 1,374 1,798
Deposits for real estate assets (2,340) 0
Refunds of deposits for real estate assets 2,340 0
Proceeds from the settlement of property-related insurance claims 757 0
Net cash provided by investing activities 3,152 16,687
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 175,000 70,000
Repayments of credit facility revolver 0 (129,000)
Repayment of credit facility term loan (175,000) 0
Payments of deferred financing costs (5,654) (3,096)
Repurchases of common stock under Share Repurchase Program (5,018) 0
Repurchases of common stock to settle tax obligations (74) 0
Payments of deferred equity offering costs (41) 0
Distributions paid (17,000) (11,327)
Other financing activities (68) (46)
Net cash used in financing activities (27,855) (73,495)
Net change in cash and cash equivalents and restricted cash 44,885 29,109
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 100,196 58,427
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 32,286 23,282
Restricted cash at end of period 67,910 35,145
Cash and cash equivalents and restricted cash at end of period $ 100,196 $ 58,427