Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (70,234) $ (41,096)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 83,031 83,056
Non-cash revenue adjustments, net 783 (6,562)
Impairments 25,365 26,976
Gain on disposition of real estate assets 0 (18)
Loss on extinguishment of debt, net 1,078 504
Amortization of deferred financing costs 2,758 3,041
Equity-based compensation 2,450 1,902
Equity in loss of unconsolidated joint venture, net 497 326
Changes in assets and liabilities:    
Accounts receivable, net and other assets, net (698) (2,545)
Accounts payable, accrued expenses and other liabilities, net (3,269) 4,004
Net cash provided by operating activities 41,761 69,588
Cash flows from investing activities:    
Investment in real estate assets (34,734) 0
Capital expenditures and leasing costs (12,649) (12,746)
Proceeds from disposition of real estate, net 2,070 13,767
Return of investment from unconsolidated joint venture 987 1,374
Principal repayments received on notes receivable 1,200 0
Deposits for real estate assets (1,350) (2,340)
Uses and refunds of deposits for real estate assets 1,350 2,340
Proceeds from the settlement of property-related insurance claims 171 757
Net cash (used in) provided by investing activities (42,955) 3,152
Cash flows from financing activities:    
Proceeds from credit facility revolver 28,000 175,000
Repayments of credit facility revolver (14,000) 0
Repayment of credit facility term loan 0 (175,000)
Payments of deferred financing costs (1,363) (5,654)
Repurchases of common stock under Share Repurchase Program 0 (5,018)
Repurchases of common stock to settle tax obligations (162) (74)
Payments of deferred equity offering costs 0 (41)
Distributions paid (16,759) (17,000)
Other financing activities (116) (68)
Net cash used in financing activities (4,400) (27,855)
Net change in cash and cash equivalents and restricted cash (5,594) 44,885
Cash and cash equivalents and restricted cash at beginning of year 57,198 55,311
Cash and cash equivalents and restricted cash at end of period 51,604 100,196
Reconciliation of Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents at beginning of year 22,473 20,638
Restricted cash at beginning of year 34,725 34,673
Cash and cash equivalents and restricted cash at beginning of year 57,198 55,311
Cash and cash equivalents at end of period 16,564 32,286
Restricted cash at end of period 35,040 67,910
Cash and cash equivalents and restricted cash at end of period $ 51,604 $ 100,196