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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 51,422 $ 1,399
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,034 43,682
Amortization of above and below-market leases and lease inducements, net (3,609) (2,385)
Amortization of debt discounts and financing costs 1,341 771
Straight-line rent adjustment, net (1,370) (1,491)
(Reversal of) provision for estimated credit losses (1,777) 52
Gain on sale of investment properties, net (36,856) (880)
Loss on extinguishment of debt 96 0
Equity in earnings of unconsolidated entities (3,432) (1,395)
Distributions from unconsolidated entities 7,700 5,775
Stock-based compensation, net 2,402 4,807
Changes in operating assets and liabilities:    
Accounts and rents receivable 5,027 5,797
Deferred costs and other assets, net (3,029) (1,257)
Accounts payable and accrued expenses (433) 400
Other liabilities (1,024) (1,276)
Net cash provided by operating activities 63,492 53,999
Cash flows from investing activities:    
Purchase of investment properties (156,139) 0
Capital expenditures and tenant improvements (10,134) (6,696)
Investment in development and redevelopment projects (6,124) (1,546)
Proceeds from sale of investment properties, net 54,276 1,317
Distributions from unconsolidated entities 47,355 0
Lease commissions and other leasing costs (2,061) (2,283)
Other assets (7) (118)
Other liabilities (947) (1,032)
Net cash used in investing activities (73,781) (10,358)
Cash flows from financing activities:    
Common shares repurchased through share repurchase program 0 (16,679)
Distributions to shareholders (27,630) (27,707)
Line of credit proceeds 112,000 0
Line of credit repayments 0 (50,000)
Payoffs of debt (22,328) 0
Principal payments on mortgage debt (521) (649)
Payment of finance lease liabilities (179) (215)
Payment of loan fees and deposits (14) (50)
Net cash provided by (used in) financing activities 61,328 (95,300)
Net decrease in cash, cash equivalents and restricted cash 51,039 (51,659)
Cash, cash equivalents and restricted cash at the beginning of the period 44,854 223,770
Cash, cash equivalents and restricted cash at the end of the period 95,893 172,111
Cash flow disclosure, including non-cash activities:    
Cash paid for interest, net of capitalized interest 8,604 7,364
Cash paid for income taxes, net of refunds 471 295
Distributions payable to shareholders 13,836 13,921
Accrued capital expenditures and tenant improvements 2,607 1,880
Capitalized costs placed in service 2,494 3,124
Purchase of investment properties:    
Net investment properties 216,750 0
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 29,759 0
Accounts payable and accrued expenses, lease intangibles, and other liabilities (10,489) 0
Assumption of mortgage debt, at fair value (79,881) 0
Cash outflow for purchase of investment properties, net 156,139 0
Assumption of mortgage principal 80,380 0
Capitalized acquisition costs (886) 0
Credits and other changes in cash outflow, net 2,837 0
Gross acquisition price of investment properties 238,470 0
Sale of investment properties:    
Net investment properties 17,792 437
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 544 0
Accounts payable and accrued expenses, lease intangibles, and other liabilities (916) 0
Gain on sale of investment properties, net 36,856 880
Proceeds from sale of investment properties, net 54,276 1,317
Credits and other changes in cash inflow, net 1,174 0
Gross disposition price of investment properties $ 55,450 $ 1,317