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 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net loss $ (15,715) $ (15,570) $ (24,589) $ (25,452)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 27,877 33,828 56,043 68,181
Non-cash revenue adjustments, net     (4,968) (1,830)
Impairments 11,819 7,758 15,573 9,360
Loss on extinguishment of debt, net 504 0 504 468
Amortization of deferred financing costs     2,108 2,228
Equity-based compensation     1,215 709
Equity in loss of unconsolidated joint venture, net 95 54 218 95
Changes in assets and liabilities:        
Accounts receivable, net and other assets, net     (1,884) (3,535)
Accounts payable, accrued expenses and other liabilities, net     (302) 1,570
Net cash provided by operating activities     43,918 51,794
Cash flows from investing activities:        
Capital expenditures and leasing costs     (6,744) (3,429)
Proceeds from disposition of real estate     0 3,496
Return of investment from unconsolidated joint venture     881 1,217
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     715 0
Net cash (used in) provided by investing activities     (5,148) 1,284
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 (89,000)
Repayment of credit facility term loan     (175,000) 0
Payments of deferred financing costs     (5,659) (3,096)
Repurchases of common stock to settle tax obligations     (74) 0
Payments of deferred equity offering costs     (41) 0
Distributions paid     (11,331) (5,663)
Other financing activities     (68) (46)
Net cash used in financing activities     (17,173) (27,831)
Net change in cash and cash equivalents and restricted cash     21,597 25,247
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 76,908 54,565 76,908 54,565
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 42,209 19,300 42,209 19,300
Restricted cash at end of period 34,699 35,265 34,699 35,265
Cash and cash equivalents and restricted cash at end of period $ 76,908 $ 54,565 $ 76,908 $ 54,565