XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 23,847 $ 86,135
Adjustments to reconcile net income to cash flow from operating activities:    
Depreciation and amortization 163,066 200,688
Accretion of loan discounts and premiums, net (8,239) (8,245)
Amortization of deferred financing costs, net 2,534 2,727
Stock compensation expense 6,781 6,238
Loss on impairment (gain on sale) of real estate assets, net 10,284 (94,712)
Amortization related to derivative instruments 973 958
Casualty losses (gains), net 866 (7,176)
Equity in loss from investments in unconsolidated real estate entities 3,158 2,411
Other loss (income) 1,261 (1,249)
Changes in assets and liabilities:    
Other assets (9,276) (2,266)
Accounts payable and accrued expenses 9,352 5,507
Accrued interest payable 279 3,844
Other liabilities (1,894) (3,619)
Cash flow provided by operating activities 202,992 191,241
Cash flows from investing activities:    
Acquisition of real estate properties 0 (201,777)
Cash, cash equivalents and restricted cash acquired in consolidation of unconsolidated joint venture 2,145 0
Investments in unconsolidated real estate entities (23,221) (51,426)
Return of investment in unconsolidated real estate entities 0 3,406
Disposition of real estate properties, net 35,557 155,639
Capital expenditures (111,872) (55,648)
Additions to real estate under development (48,491) (40,009)
Proceeds from insurance claims 3,265 15,653
Cash flow used in investing activities (142,617) (174,162)
Cash flows from financing activities:    
(Costs) proceeds from issuance of common stock, net (421)  
(Costs) proceeds from issuance of common stock, net   48,751
Proceeds from unsecured credit facility and term loans 185,000 687,500
Unsecured credit facility, secured credit facility and term loan repayments (127,513) (666,525)
Mortgage principal repayments (6,067) (5,514)
Payments for deferred financing costs (60) (1,654)
Distributions on common stock (98,965) (74,479)
Distributions to noncontrolling interests (2,639) (1,891)
Repurchase of shares related to equity award tax withholding (4,739) (5,881)
Payments for interest rate collars 0 (3,475)
Cash flow used in financing activities (55,404) (23,168)
Net change in cash and cash equivalents, and restricted cash 4,971 (6,089)
Cash and cash equivalents, and restricted cash, beginning of period 44,017 65,671
Cash and cash equivalents, and restricted cash, end of the period 48,988 59,582
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents 17,216 23,753
Restricted cash 31,772 35,829
Total cash, cash equivalents, and restricted cash, end of period $ 48,988 $ 59,582