Quarterly report [Sections 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, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (9,355) $ (26,226)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 16,022 24,504
Non-cash revenue adjustments, net (3,736) (808)
Impairments 1,709 19,685
Amortization of deferred financing costs 912 924
Equity-based compensation 704 790
Equity in loss of unconsolidated joint venture, net 246 116
Changes in assets and liabilities:    
Accounts receivable, net and other assets, net (1,538) (2,970)
Accounts payable, accrued expenses and other liabilities, net (7,211) (4,993)
Net cash (used in) provided by operating activities (2,247) 11,022
Cash flows from investing activities:    
Capital expenditures and leasing costs (5,630) (4,412)
Return of investment from unconsolidated joint venture 0 461
Origination of member loan to unconsolidated joint venture (8,328) 0
Principal repayments received on member loan to unconsolidated joint venture 845 0
Principal repayments received on notes receivable 0 200
Net cash used in investing activities (13,113) (3,751)
Cash flows from financing activities:    
Proceeds from credit facility revolver 13,000 0
Repurchases of common stock to settle tax obligations (466) (162)
Distributions paid (5,595) (5,579)
Other financing activities (272) (85)
Net cash provided by (used in) financing activities 6,667 (5,826)
Net change in cash and cash equivalents and restricted cash (8,693) 1,445
Cash and cash equivalents and restricted cash at beginning of year 57,170 57,198
Cash and cash equivalents and restricted cash at end of period 48,477 58,643
Reconciliation of Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents at beginning of year 15,600 22,473
Restricted cash at beginning of year 41,570 34,725
Cash and cash equivalents and restricted cash at beginning of year 57,170 57,198
Cash and cash equivalents at end of period 9,384 23,618
Restricted cash at end of period 39,093 35,025
Cash and cash equivalents and restricted cash at end of period $ 48,477 $ 58,643