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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 8,526 $ 17,961
Adjustments to reconcile net income to cash flow from operating activities:    
Depreciation and amortization 58,725 53,721
Accretion of loan discounts and premiums, net (2,029) (2,395)
Amortization of deferred financing costs, net 895 697
Stock compensation expense 3,949 3,389
(Gain on sale) loss on impairment of real estate assets, net (1,496) (10,530)
Loss (gain) on extinguishment of debt 67 (203)
Amortization related to derivative instruments 257 316
Non-cash casualty losses 400 1,184
Equity in loss from investments in unconsolidated real estate entities 590 829
Other non-cash loss 103 1
Changes in assets and liabilities:    
Other assets 1,058 970
Accounts payable and accrued expenses (11,904) (20,779)
Accrued interest payable 1,506 (772)
Other liabilities (282) (332)
Cash flow provided by operating activities 60,365 44,057
Cash flows from investing activities:    
Acquisition of real estate properties (58,637) 0
Escrow deposits for pending real estate acquisitions (1,623) 0
Investments in unconsolidated real estate entities (10,255) (1,272)
Proceeds from dispositions of real estate properties, net 109,203 292,670
Capital expenditures (21,451) (24,561)
Real estate development expenditures (7,120) (14,095)
Proceeds from insurance claims 324 2,661
Cash flow provided by investing activities 10,441 255,403
Cash flows from financing activities:    
Proceeds from issuance of common stock, net 50,012 0
Proceeds from unsecured credit facility 201,414 94,000
Unsecured credit facility and secured credit facility repayments (198,000) (220,152)
Mortgage principal repayments and payoffs (74,425) (142,537)
Payment for deferred financing costs (5,549) (242)
Distributions on common stock (37,185) (36,149)
Distributions to noncontrolling interests (951) (951)
Payment for debt extinguishment 0 (663)
Repurchase of shares related to equity award tax withholding (1,240) (1,598)
Cash flow used in financing activities (65,924) (308,292)
Net change in cash and cash equivalents, and restricted cash 4,882 (8,832)
Cash and cash equivalents, and restricted cash, beginning of period 43,452 50,732
Cash and cash equivalents, and restricted cash, end of the period 48,334 41,900
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets    
Cash and cash equivalents 29,055 21,275
Restricted Cash 19,279 20,625
Total cash, cash equivalents, and restricted cash, end of period $ 48,334 $ 41,900