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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES    
Net (loss) income $ (88,078) $ 42,227
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 184,479 54,041
Other amortization 11,104 1,192
Share-based compensation 4,992 3,699
Amortization of straight-line rent receivable (lessor) (9,783) (1,587)
Amortization of straight-line rent on operating leases (lessee) 1,537 378
Gain on sales of real estate properties (1,007) (44,784)
Loss on extinguishment of debt 0 1,429
Impairment of real estate properties and credit loss reserves 31,422 (25)
Equity loss from unconsolidated joint ventures 780 345
Distributions from unconsolidated joint ventures 2,542 0
Non-cash interest from financing and notes receivable (1,385) (199)
Changes in operating assets and liabilities:    
Other assets, including right-of-use-assets (8,360) (2,563)
Accounts payable and accrued liabilities (66,954) (12,212)
Other liabilities 7,901 1,830
Net cash provided by operating activities 69,190 43,771
INVESTING ACTIVITIES    
Acquisitions of real estate (30,725) (121,964)
Development of real estate (6,707) (3,754)
Additional long-lived assets (60,159) (23,326)
Funding of mortgages and notes receivable (6,230) 0
Investments in unconsolidated joint ventures (3,824) (49,598)
Investment in financing receivable (302)  
Investment in financing receivable   492
Proceeds from sales of real estate properties and additional long-lived assets 149,171 84,883
Proceeds from notes receivable repayments 336 0
Net cash provided by (used in) investing activities 41,560 (113,267)
FINANCING ACTIVITIES    
Net borrowings on unsecured credit facility 0 124,000
Repayments of notes and bonds payable (667) (17,573)
Redemption of notes and bonds payable 0 (2,184)
Dividends paid (118,052) (46,768)
Net proceeds from issuance of common stock 51 22,649
Common stock redemptions (1,729) (852)
Distributions to non-controlling interest holders (1,272) 0
Payments made on finance leases (101) (257)
Net cash (used in) provided by financing activities (121,770) 79,015
(Decrease) increase in cash and cash equivalents (11,020) 9,519
Cash and cash equivalents at beginning of period 60,961 13,175
Cash and cash equivalents at end of period 49,941 22,694
Supplemental Cash Flow Information    
Interest paid 75,082 16,227
Mortgage note receivable taken in connection with sale of real estate 45,000 0
Invoices accrued for construction, tenant improvements and other capitalized costs 28,138 13,516
Capitalized interest $ 570 $ 38