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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss attributable to common stockholders $ (17,156) $ (5,354)
Adjustments to reconcile net loss attributable to common stockholders to net cash provided by operating activities:    
Depreciation and amortization and amortization of deferred finance costs 3,828 2,821
Other non-cash adjustment - paid-in-kind interest (231)  
Stock-based compensation expense 233 271
Gain on sale of joint venture real estate (3,065) (4,490)
Deferred rents receivable (48) (7)
Other non-cash adjustments - pension expense 237 237
Unrealized gain on warrants (56) (931)
Equity in net loss (income) from unconsolidated joint ventures 4 (816)
Distributions from unconsolidated joint ventures   1,183
Decrease (increase) in operating assets:    
Residential condominium units for sale 10,386 5,676
Receivables 91 34
Prepaid expenses and other assets, net 1,641 (1,041)
Increase in operating liabilities:    
Accounts payable and accrued expenses 5,956 2,787
Net cash provided by operating activities 1,820 370
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to real estate (43) (68)
Net proceeds from sale of unconsolidated joint venture 7,240 17,418
Net cash provided by investing activities 7,197 17,350
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loans and corporate credit facility 3,000 4,666
Proceeds from secured line of credit 2,000  
Repayment of loans (14,626) (27,049)
Repayment of note payable (5,863)  
Repayment of secured line of credit   (3,500)
Settlement of stock awards (171) (291)
Settlement of warrants 3  
Net cash used in financing activities (15,657) (26,174)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (6,640) (8,454)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 22,055 24,845
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 15,415 16,391
CASH AND CASH EQUIVALENTS, BEGINNING PERIOD 1,548 4,310
RESTRICTED CASH, BEGINNING OF PERIOD 20,507 20,535
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 22,055 24,845
CASH AND CASH EQUIVALENTS, END OF PERIOD 4,395 3,112
RESTRICTED CASH, END OF PERIOD 11,020 13,279
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 15,415 16,391
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for: Interest 8,870 4,970
Cash paid during the period for: Taxes 120 251
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capitalized amortization of deferred financing costs and warrants 78 1,272
Capitalized stock-based compensation expense $ 7 $ 27