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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 5,269 $ 52,233 $ (5,360)
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation and amortization 113,430 94,952 87,143
Amortization of market-lease intangibles and inducements, net (3,343) (5,589) (4,318)
Amortization of debt discounts and financing costs 4,113 2,816 1,816
Straight-line rent adjustment, net (3,464) (2,645) (3,272)
Provision for (reversal of) estimated credit losses 1,148 (1,437) 2,271
Gain on sale of investment properties, net (2,691) (38,249) (1,522)
Loss on extinguishment of debt 15 181 400
Equity in losses (earnings) of unconsolidated entities 557 (3,663) (6,398)
Distributions from unconsolidated entities 0 9,350 8,085
Stock-based compensation, net 9,021 6,541 9,116
Changes in operating assets and liabilities:      
Accounts and rents receivable 1,483 (999) 257
Deferred costs and other assets, net 91 317 (1,834)
Accounts payable and accrued expenses 2,054 8,411 1,875
Other liabilities 1,938 3,576 1,697
Net cash provided by operating activities 129,621 125,795 89,956
Cash flows from investing activities:      
Purchase of investment properties (152,047) (235,001) (53,078)
Capital expenditures and tenant improvements (27,298) (19,420) (15,361)
Investment in development and re-development projects (4,558) (9,461) (5,466)
Proceeds from the sale of investment properties, net 12,559 77,538 14,807
Distributions from unconsolidated entities 95,065 47,355 0
Lease commissions and other leasing costs (3,888) (4,302) (4,055)
Other investing activities, net 449 (1,170) (1,548)
Net cash used in investing activities (79,718) (144,461) (64,701)
Cash flows from financing activities:      
Payment of tax withholdings for share-based compensation (1,583) (1,581) (1,833)
Payment of common stock repurchase costs 0 0 (116,397)
Payments for Repurchase of Other Equity 0 0 3,619
Proceeds from sale of common stock under ATM 5,165 0 0
Repurchases of common stock 235 0 0
Payment of common stock offering costs (341) 0 0
Distributions to stockholders (57,491) (55,302) (55,561)
Term loan proceeds 0 0 400,000
Term loan repayments 0 0 (400,000)
Line of credit proceeds 30,000 112,000 31,000
Line of credit repayments (30,000) (143,000) 0
Senior notes proceeds 0 250,000 0
Payoffs of debt (33,700) (47,052) (50,000)
Principal payments on mortgage debt (32) (842) (1,306)
Payment of loan fees and deposits (175) (2,387) (6,065)
Other financing activities 20 (262) (390)
Net cash (used in) provided by financing activities (87,902) 111,574 (204,171)
Net decrease in cash, cash equivalents and restricted cash (37,999) 92,908 (178,916)
Cash, cash equivalents and restricted cash at beginning of year 137,762 44,854 223,770
Cash, cash equivalents and restricted cash at end of year 99,763 137,762 44,854
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 33,093 18,705 14,570
Cash paid (refunded) for income taxes, net of (payments) refunds 209 (386) 276
Previously held equity investments in real estate assets acquired 39,603 0 0
Distributions payable to stockholders 14,594 13,837 13,802
Accrued capital expenditures and tenant improvements 1,680 2,851 3,552
Capitalized costs placed in service 16,402 17,895 7,453
Gross issuance of shares for share-based compensation 4,558 6,224 5,040
Purchase of investment properties:      
Net investment properties 200,085 280,938 45,791
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 52,871 47,019 8,734
Accounts payable and accrued expenses, lease intangibles, and other liabilities (9,133) (13,075) (1,447)
Assumption of mortgage debt, at fair value (91,776) (79,881) 0
Cash outflow for purchase of investment properties, net 152,047 235,001 53,078
Assumption of mortgage principal 92,468 80,380 0
Capitalized acquisition costs (150) (1,079) (59)
Credits and other changes in cash outflow, net (365) 4,768 1,691
Gross acquisition price of investment properties 244,000 319,070 54,710
Sale of investment properties:      
Net investment properties 10,086 66,294 10,953
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 297 4,200 2,332
Accounts payable and accrued expenses, lease intangibles, and other liabilities (515) (2,575) 0
Debt assumed by buyer through disposition of property 0 (28,552) 0
Gain on sale of investment properties, net 2,691 38,249 1,522
Loss on extinguishment of debt (78) 0
Proceeds from sale of investment properties, net 12,559 77,538 14,807
Assumption of mortgage principal 0 28,630 0
Credits and other changes in cash inflow, net 583 4,282 174
Gross disposition price of investment properties $ 13,142 $ 110,450 $ 14,981