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CONSOLIDATED STATEMENTS OF CASH FLOWS
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Cash flows from operating activities      
Net loss $ (13,103,000) $ (52,977,000) $ (30,868,000)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 95,935,000 88,950,000 91,722,000
Credit losses on lease related receivables 5,164,000 4,833,000 2,483,000
Real estate impairment 0 41,860,000 0
Share-based compensation expense 5,218,000 5,538,000 7,988,000
Amortization of debt premiums, discounts and related financing costs 4,421,000 4,218,000 4,052,000
Loss on extinguishment of debt, net 147,000 54,000 4,917,000
Gain on land easements (1,410,000) 0 0
Changes in other assets (6,894,000) (11,294,000) (1,602,000)
Changes in other liabilities 5,765,000 3,487,000 (5,481,000)
Net cash provided by operating activities 95,243,000 84,669,000 73,211,000
Cash flows from investing activities      
Real estate acquisitions, net 0 (107,595,000) (204,433,000)
Capital improvements to real estate (47,390,000) (38,218,000) (36,513,000)
Development in progress 0 0 (698,000)
Non-real estate capital improvements (212,000) (408,000) (1,743,000)
Insurance proceeds 0 0 2,224,000
Payments received for land easements 3,862,000 0 0
Net cash used in investing activities (43,740,000) (146,221,000) (241,163,000)
Cash flows from financing activities      
Line of credit borrowings, net 19,000,000 102,000,000 55,000,000
Dividends paid (63,636,000) (64,335,000) (59,363,000)
Principal payments – mortgage notes payable 0 0 (76,598,000)
Repayments of unsecured term loan debt 0 (100,000,000) 0
Proceeds from term loan 0 125,000,000 0
Payment of financing costs (5,676,000) (844,000) (39,000)
Distributions to noncontrolling interests (9,000) (8,000) (9,000)
Proceeds from dividend reinvestment program 0 497,000 1,030,000
Net proceeds from equity issuances 0 0 26,849,000
Payment of tax withholdings for restricted share awards (1,111,000) (2,072,000) (3,286,000)
Net cash (used in) provided by financing activities (51,432,000) 60,238,000 (56,416,000)
Net increase (decrease) in cash, cash equivalents and restricted cash 71,000 (1,314,000) (224,368,000)
Cash, cash equivalents and restricted cash at beginning of year 8,538,000 9,852,000 234,220,000
Cash, cash equivalents and restricted cash at end of year 8,609,000 8,538,000 9,852,000
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest expense 32,220,000 23,502,000 20,842,000
Change in accrued capital improvements and development costs (7,864,000) 9,556,000 609,000
Dividend payable 15,898,000 15,863,000 14,934,000
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 6,144,000 5,984,000 8,389,000
Restricted cash 2,465,000 2,554,000 1,463,000
Cash, cash equivalents and restricted cash $ 8,609,000 $ 8,538,000 $ 9,852,000

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