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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income (loss) $ (16,268) $ (89,545) $ 8,486 $ (61,273)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation and amortization     100,955 102,428  
Gain on disposition of properties and other investments     0 (51,389)  
Net unrealized holding (gains) losses on investments     (1,282) 20,786  
Stock compensation expense     10,195 8,540  
Straight-line rents     (1,619) (7,246)  
Equity in losses of unconsolidated affiliates 4,865 50,579 6,273 46,169  
Distributions of operating income from unconsolidated affiliates     2,907 8,192  
Adjustments to straight-line rent reserves     0 (79)  
Amortization of financing costs     4,661 4,100  
Non-cash lease expense     2,702 2,584  
Adjustments to allowance for credit loss     0 (779)  
Acceleration of below market lease     (8,057) 0  
Impairment charges 3,686 33,311 3,686 33,311  
Other, net     (3,760) (6,361)  
Changes in assets and liabilities:          
Rents receivable     747 3,523  
Other liabilities     (127) (817)  
Accounts payable and accrued expenses     5,197 93  
Prepaid expenses and other assets     (13,046) 1,296  
Lease liability - operating leases     (2,751) (2,600)  
Net cash provided by operating activities     115,167 100,478  
CASH FLOWS FROM INVESTING ACTIVITIES          
Acquisitions of real estate     (48,909) (242,633)  
Proceeds from the disposition of properties and other investments, net     0 195,367  
Investments in and advances to unconsolidated affiliates     (30,563) (148,430)  
Development, construction and property improvement costs     (51,280) (36,863)  
Refund of deposits for properties under purchase contract     1,080 350  
Deposits for properties under sale contract     1,515 0  
Change in control of previously unconsolidated affiliate     0 3,592  
Return of capital from unconsolidated affiliates     41,948 63,661  
Payment of deferred leasing costs     (6,233) (4,996)  
Acquisition of investment interests     0 (4,527)  
Proceeds from sale of marketable securities     2,371 0  
Proceeds from repayment of notes receivable     0 29,530  
Net cash used in investing activities     (90,071) (144,949)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Proceeds from unsecured debt     158,889 823,262  
Principal payments on unsecured debt     (165,833) (621,180)  
Proceeds from the sale of Common Shares     0 119,485  
Capital contributions from noncontrolling interests     31,857 109,423  
Principal payments on mortgage and other notes     (99,103) (429,301)  
Distributions to noncontrolling interests     (32,965) (75,796)  
Dividends paid to Common Shareholders     (51,413) (47,494)  
Proceeds received on mortgage and other notes     132,902 202,743  
Deferred financing and other costs     (3,760) (9,191)  
Acquisition of noncontrolling interest     0 (24,336)  
Payment of finance lease obligations     (711) 0  
Net cash (used in) provided by financing activities     (30,137) 47,615  
(Decrease) increase in cash and restricted cash     (5,041) 3,144  
Cash of $17,158 and $17,746 and restricted cash of $15,063 and $9,813 respectively, beginning of period     32,221 27,559 $ 27,559
Cash of $19,312 and $18,068 and restricted cash of $7,868 and $12,635 respectively, end of period $ 27,180 $ 30,703 27,180 30,703 $ 32,221
Supplemental disclosure of cash flow information          
Cash paid during the period for interest, net of capitalized interest of $5,660 and $2,331 respectively     86,775 41,922  
Cash paid for income taxes, net of (refunds)     248 6  
Supplemental disclosure of non-cash investing and financing activities          
Distribution declared and payable on October 13, 2023 and October 14, 2022, respectively     18,372 18,244  
Assumption of accounts payable and accrued expenses through acquisition of real estate     465 4,062  
Issuance of note receivable used as capital contributions from redeemable noncontrolling interests     796 65,945  
Accrued interest on note receivable recorded to noncontrolling interest     6,995 1,564  
Distributions to noncontrolling interests of marketable securities     49,117 0  
Reclassification of investment in unconsolidated affiliate to marketable securities     32,745 0  
Reclassification of noncontrolling interest in excess of amount paid to additional paid-in capital     0 67,475  
Change in control of previously unconsolidated investment          
Increase in real estate     0 (55,791)  
Increase in mortgage notes payable     0 35,970  
Decrease in investments in and advances to unconsolidated affiliates     0 17,822  
Decrease in notes receivable     0 5,306  
Decrease in reserve on note receivable     0 (4,582)  
Decrease in accrued interest on notes receivable     0 4,691  
Change in other assets and liabilities     0 176  
Increase in cash and restricted cash upon change of control     $ 0 $ 3,592