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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net (loss) income $ (7,615,000) $ 11,411,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 92,193,000 82,761,000
Non-cash portion of interest expense 3,390,000 2,417,000
Amortization of stock-based compensation 5,329,000 3,538,000
Income from unconsolidated real estate entities (303,000) (635,000)
Unrealized gain on non-real estate investments (1,650,000) (5,775,000)
Straight-line rents (14,899,000) (7,132,000)
Straight-line rent expenses 422,000 366,000
Amortization of above- and below-market leases, net (2,739,000) (2,518,000)
Amortization of above- and below-market ground leases, net 668,000 588,000
Amortization of lease incentive costs 432,000 475,000
Distribution of income from unconsolidated entities 393,000 172,000
Impairment loss 20,503,000 0
Change in operating assets and liabilities:    
Accounts receivable (4,133,000) 2,381,000
Deferred leasing costs and lease intangibles (3,799,000) (6,099,000)
Prepaid expenses and other assets (10,068,000) 962,000
Accounts payable, accrued liabilities and other 21,964,000 33,430,000
Security deposits and prepaid rent (4,634,000) (1,647,000)
Net cash provided by operating activities 95,454,000 114,695,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment in real estate (52,733,000) (95,884,000)
Maturities of U.S. Government securities 2,156,000 1,324,000
Contributions to non-real estate investments (10,534,000) (2,215,000)
Distributions from unconsolidated real estate entities 422,000 0
Contributions to unconsolidated real estate entities (7,922,000) (439,000)
Additions to non-real estate property, plant and equipment (3,658,000) 0
Net cash used in investing activities (72,269,000) (97,214,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 235,846,000 52,975,000
Payments of unsecured and secured debt 0 (159,000)
Payments of in-substance defeased debt (918,000) (879,000)
Transaction costs (76,000) 0
Repurchases of common stock 0 (14,756,000)
Accelerated share repurchase (200,000,000) 0
Dividends paid to common stock and unitholders (36,942,000) (38,426,000)
Dividends paid to preferred stock and unitholders (7,724,000) (153,000)
Contributions from redeemable non-controlling members in consolidated real estate entities 125,000 1,469,000
Contributions from non-controlling members in consolidated real estate entities 2,624,000 15,016,000
Distributions to non-controlling members in consolidated real estate entities (15,215,000) (12,082,000)
Payments to satisfy tax withholding obligations 0 (693,000)
Net cash (used in) provided by financing activities (22,280,000) 2,312,000
Net increase in cash and cash equivalents and restricted cash 905,000 19,793,000
Cash and cash equivalents and restricted cash—beginning of period 196,876,000 149,540,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 197,781,000 $ 169,333,000