v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net (loss) income $ (176) $ 1,312
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Gain on sales 0 (2,422)
Straight-line rents 13 (424)
Credit adjustments on operating lease receivables 40 158
Depreciation and amortization 3,562 3,966
Above (below) market lease amortization, net (91) (91)
Amortization of deferred financing costs 335 277
Loss on loan prepayment 0 718
Changes in operating assets and liabilities:    
Receivables, net 251 (42)
Deferred costs and other assets, net 861 640
Accounts payable, accrued expenses, and other liabilities (63) (58)
Net cash provided by operating activities 4,732 4,034
INVESTING ACTIVITIES    
Expenditures for real estate improvements (650) (1,838)
Net proceeds from sales of real estate 0 16,672
Net cash (used in) provided by investing activities (650) 14,834
FINANCING ACTIVITIES    
Variable-rate loan proceeds 0 10,000
Fixed-rate term loan principal payments (61) (9,186)
Payments for deferred financing costs 0 (193)
Loan prepayment premium 0 (521)
Preferred stock dividends (2,414) (3,674)
Preferred stock repurchases 0 (31,784)
Net cash used in financing activities (2,475) (35,358)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,607 (16,490)
Cash, cash equivalents and restricted cash at beginning of period 15,871 30,624
Cash, cash equivalents and restricted cash at end of period 17,478 14,134
Reconciliation to consolidated balance sheets:    
Cash and cash equivalents 5,116 4,068
Restricted cash 12,362 10,066
Cash, cash equivalents and restricted cash $ 17,478 $ 14,134

Source