v3.25.4
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Cash flows from operating activities:    
Net Loss $ (23,714) $ (8,381)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 10,577 8,403
Amortization of loan costs and discounts 2,680 1,416
Gain on settlement of liability 0 (823)
Loss on interest rate hedge 167 55
Loss (gain) on sale of real estate 124 (2,651)
Equity-based payment 3,136 5,719
Impairment 3,762 157
Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease) (935) (844)
Changes in operating assets and liabilities    
Due to/from related parties 23 (3)
Accounts payable and accrued expenses 5,242 (1,915)
Indemnification liability 0 (350)
Deposits (105) 0
Other assets 407 (320)
Accounts receivable, net (516) (1,247)
Net cash provided by (used in) operating activities 848 (784)
Cash flows from investing activities:    
Capital expenditures (1,099) (511)
Insurance reimbursement for capital expenditures 309 0
Proceeds from note receivable 3,120 0
Proceeds on sale of investment in real estate 14,004 4,746
Net cash provided by investing activities 16,334 4,235
Cash flows from financing activities:    
Proceeds from Line of Credit 7,572 27,238
Proceeds from notes payable 88,304 93,400
Payments on notes payable (89,853) (40,046)
Payments on Revolving Credit Facility 0 (58,700)
Payments on Line of Credit (8,915) 0
Distributions to non-controlling interest holders (185) (208)
Purchase of minority interest in subsidiary 0 (1,500)
Loan fees (4,041) (2,542)
Share repurchase plan (3,972) (1,326)
Shares repurchased for vesting of employee awards (135) (133)
Preferred redemption payments (5,503) (10,834)
Preferred distribution payments (989) (9,692)
Net cash used in financing activities (17,717) (4,343)
Net change in cash and cash equivalents and restricted cash (535) (892)
Cash and cash equivalents and restricted cash, beginning of period 15,819 16,711
Cash and cash equivalents and restricted cash, end of period 15,284 15,819
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at beginning of period 10,655 11,134
Restricted cash at beginning of period 5,164 5,577
Cash and cash equivalents and restricted cash, beginning of period 15,819 16,711
Cash and cash equivalents at end of period 8,349 10,655
Restricted cash at end of period 6,935 5,164
Cash and cash equivalents and restricted cash, end of period 15,284 15,819
Supplemental disclosures of cash flow information:    
Interest Paid 12,830 11,095
Non-cash investing and financing activities:    
Distributions declared not yet paid 67 95
Accrued preferred distributions paid in common stock 0 2,452
Right of use asset and lease liability 0 332
Note receivable related to disposition of property 0 3,120
Requested preferred redemptions not yet paid 0 503
Accrued capital expenditures 15 595
Share Issued as Loan Fees [Member]    
Non-cash investing and financing activities:    
Stock issued 0 1,740
Share Issued in Exchange for Accrued Compensation [Member]    
Non-cash investing and financing activities:    
Stock issued $ 0 $ 1,103

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