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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 42,835 $ 35,923 $ 116,243
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 196,629 186,540 183,419
Gains on sales of properties (39,848) (33,010) (59,094)
Gain on change in control of a subsidiary (209) 0 0
Change in allowance for credit loss (61) (32) 93
Selling profit from sales-type leases 0 0 (47,059)
Debt satisfaction losses, net 0 132 119
Impairment charges 0 16,490 3,037
Straight-line rents (7,097) (9,471) (11,363)
Amortization of right of use assets 4,166 4,136 3,980
Other non-cash expense, net 7,521 5,900 6,072
Equity in (earnings) losses of non-consolidated entities 3,179 (1,366) (16,006)
Distributions of accumulated earnings from non-consolidated entities 1,646 4,614 17,024
Changes in assets and liabilities:      
Change in accounts payable and other liabilities 2,914 4,407 (1,574)
Change in rent receivable and prepaid rent, net 5,639 (488) 623
Change in accrued interest payable (862) 2,199 700
Other adjustments, net (5,265) (6,528) (1,945)
Net cash provided by operating activities 211,187 209,446 194,269
Cash flows from investing activities:      
Acquisition of real estate, including intangible assets (161,979) (15,018) (132,026)
Investment in real estate under construction (105,711) (120,793) (276,706)
Capital expenditures (17,782) (17,937) (32,562)
Net proceeds from sale of properties 177,473 97,758 194,472
Realization of net investment in a sales-type lease 65,828 0 0
Principal payments on loans receivable 0 1,462 27
Investments in non-consolidated entities, net (1,312) (3,648) (3,225)
Distributions from non-consolidated entities in excess of accumulated earnings 7,266 10,009 19,930
Payments of deferred leasing costs (7,212) (6,151) (5,156)
Investment in held-to-maturity securities 130,000    
Investment in held-to-maturity securities   (130,000) 0
Change in real estate deposits, net (168) 867 (1,673)
Net cash provided by (used in) investing activities 86,403 (183,451) (236,919)
Cash flows from financing activities:      
Dividends to common and preferred shareholders (158,157) (151,932) (142,461)
Principal amortization payments (5,373) (12,265) (11,275)
Repayment of senior notes (198,932) 0 0
Revolving credit facility borrowings 85,000 125,000 280,000
Revolving credit facility payments (85,000) (125,000) (280,000)
Proceeds from issuance of senior notes 0 298,269 0
Deferred financing costs 0 (5,818) (3,626)
Cash distributions to noncontrolling interests (4,373) (7,345) (1,264)
Cash contributions from noncontrolling interests 1,751 714 7,814
Repurchase of common shares 0 0 (130,675)
Purchase of noncontrolling interest (27,875) 0 (27,958)
Issuance of common shares, net of costs and repurchases to settle tax obligations (2,021) (2,661) 215,574
Net cash provided by (used in) financing activities (394,980) 118,962 (93,871)
Change in cash, cash equivalents and restricted cash (97,390) 144,957 (136,521)
Cash, cash equivalents and restricted cash, at beginning of year 199,463 54,506 191,027
Cash, cash equivalents and restricted cash, at end of year $ 102,073 $ 199,463 $ 54,506