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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (46,293,000) $ (4,069,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 196,074,000 183,631,000
Non-cash interest expense 14,905,000 3,272,000
Amortization of stock-based compensation 11,547,000 11,322,000
Loss (income) from unconsolidated real estate entities 1,460,000 (2,083,000)
Unrealized loss on non-real estate investments 4,000 168,000
Straight-line rents (14,111,000) (27,621,000)
Straight-line rent expenses 2,509,000 844,000
Amortization of above- and below-market leases, net (3,239,000) (4,692,000)
Amortization of above- and below-market ground leases, net 1,377,000 1,355,000
Amortization of lease incentive costs 603,000 863,000
Distribution of income from unconsolidated real estate entities 0 688,000
Impairment loss 0 23,753,000
Earnout liability fair value adjustment (3,017,000) 0
Gain on sale of real estate (7,046,000) 0
Deferred tax provision (benefit) 916,000 (1,500,000)
Change in operating assets and liabilities:    
Accounts receivable (1,989,000) 9,744,000
Deferred leasing costs and lease intangibles (9,619,000) (9,807,000)
Prepaid expenses and other assets (23,474,000) (12,898,000)
Accounts payable, accrued liabilities and other 22,993,000 19,428,000
Security deposits, prepaid rent and other 8,083,000 (2,256,000)
Net cash provided by operating activities 151,683,000 190,142,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 100,441,000 0
Additions to investment in real estate (155,948,000) (113,605,000)
Property acquisitions 0 (87,970,000)
Maturities of U.S. Government securities 0 129,300,000
Contributions to non-real estate investments (3,339,000) (11,974,000)
Proceeds from sales of non-real estate investments 503,000 0
Distributions from non-real estate investments 0 329,000
Distributions from unconsolidated real estate entities 1,895,000 883,000
Contributions to unconsolidated real estate entities (35,313,000) (14,892,000)
Additions to non-real estate property, plant and equipment (1,650,000) (6,325,000)
Net cash used in investing activities (93,411,000) (104,254,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 263,356,000 389,327,000
Payments of unsecured and secured debt (384,000,000) 0
Payments of in-substance defeased debt 0 (1,815,000)
Transaction costs 0 (214,000)
Repurchases of common stock (1,369,000) (34,688,000)
Accelerated share repurchase 0 (200,000,000)
Dividends paid to common stock and unitholders (54,960,000) (73,348,000)
Dividends paid to preferred stock and unitholders (10,400,000) (12,924,000)
Contributions from redeemable non-controlling members in consolidated real estate entities 0 375,000
Distributions to redeemable non-controlling members in consolidated real estate entities (4,506,000) (8,000)
Contributions from non-controlling members in consolidated real estate entities 14,205,000 15,457,000
Distributions to non-controlling members in consolidated real estate entities (38,439,000) (49,363,000)
Payments to satisfy tax withholding obligations (87,000) 0
Net cash (used in) provided by financing activities (216,200,000) 32,799,000
Net (decrease) increase in cash and cash equivalents and restricted cash (157,928,000) 118,687,000
Cash and cash equivalents and restricted cash—beginning of period 285,731,000 196,876,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 127,803,000 $ 315,563,000