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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES    
Net income $ 2,007,000 $ 44,163,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales (2,662,000) (125,500,000)
Impairment charges 0 25,979,000
Straight-line rents and expenses, net (854,000) (506,000)
Credit adjustments on operating lease receivables (711,000) 968,000
Depreciation and amortization 10,918,000 19,372,000
Above (below) market lease amortization, net (336,000) (1,080,000)
Expense relating to share-based compensation, net 0 1,608,000
Amortization of deferred financing costs 386,000 6,105,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Receivables, net 1,343,000 (15,575,000)
Deferred costs and other assets, net (2,243,000) (5,654,000)
Accounts payable, accrued expenses, and other liabilities 400,000 29,656,000
Net cash provided by (used in) operating activities 8,248,000 (20,464,000)
INVESTING ACTIVITIES    
Expenditures for real estate improvements (6,456,000) (22,407,000)
Net proceeds from sales of real estate 2,759,000 699,337,000
Contributions to unconsolidated joint venture 0 (155,000)
Net cash (used in) provided by investing activities (3,697,000) 676,775,000
FINANCING ACTIVITIES    
Repayments under revolving credit facility 0 (70,000,000)
Advances under revolving credit facility 0 4,000,000
Repayment of term note 0 (300,000,000)
Proceeds (termination payment) related to interest rate swap 0 3,400,000
Mortgage proceeds 9,060,000 265,000,000
Mortgage repayments 0 (130,664,000)
Payments of deferred financing costs (414,000) (7,368,000)
Noncontrolling interests:    
Distributions to limited partners 0 (966,000)
Acquisition of joint venture minority interest share 0 (1,000,000)
Redemption of OP units 0 (467,000)
Preferred stock dividends (10,752,000) (10,752,000)
Distributions to common shareholders 0 (397,300,000)
Net cash used in financing activities (2,106,000) (646,117,000)
Net increase in cash, cash equivalents and restricted cash 2,445,000 10,194,000
Cash, cash equivalents and restricted cash at beginning of year 13,463,000 3,269,000
Cash, cash equivalents and restricted cash at end of year 15,908,000 13,463,000
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 6,518,000 3,899,000
Restricted cash 9,390,000 9,564,000
Cash, cash equivalents and restricted cash $ 15,908,000 $ 13,463,000

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