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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (82,046,000) $ (10,861,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 294,654,000 276,701,000
Non-cash interest expense 19,390,000 2,204,000
Amortization of stock-based compensation 17,087,000 17,816,000
Loss (income) from unconsolidated real estate entities 2,219,000 (1,731,000)
Unrealized loss on non-real estate investments 2,269,000 1,062,000
Straight-line rents (11,248,000) (33,951,000)
Straight-line rent expenses 3,846,000 1,796,000
Amortization of above- and below-market leases, net (4,764,000) (6,393,000)
Amortization of above- and below-market ground leases, net 2,064,000 2,042,000
Amortization of lease incentive costs 892,000 1,222,000
Distribution of income from unconsolidated real estate entities 0 1,961,000
Impairment loss 0 28,548,000
Earnout liability fair value adjustment (3,017,000) 1,757,000
(Gain) loss on sale of real estate (23,154,000) 180,000
Deferred tax provision (benefit) 549,000 (1,373,000)
Gain from insurance proceeds 0 (1,167,000)
Change in operating assets and liabilities:    
Accounts receivable (2,398,000) 13,003,000
Deferred leasing costs and lease intangibles (12,571,000) (19,553,000)
Prepaid expenses and other assets (18,374,000) (10,028,000)
Accounts payable, accrued liabilities and other 37,137,000 63,807,000
Security deposits, prepaid rent and other 503,000 1,507,000
Net cash provided by operating activities 223,038,000 328,549,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 167,045,000 44,537,000
Additions to investment in real estate (229,298,000) (171,011,000)
Property acquisitions 0 (96,443,000)
Acquisitions of businesses 0 (197,862,000)
Maturities of U.S. Government securities 0 129,300,000
Contributions to non-real estate investments (4,184,000) (14,791,000)
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 1,067,000
Contributions to unconsolidated real estate entities (56,017,000) (18,766,000)
Additions to non-real estate property, plant and equipment (4,449,000) (13,071,000)
Insurance proceeds for damaged property, plant and equipment 0 1,284,000
Net cash used in investing activities (124,505,000) (335,427,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 338,356,000 978,251,000
Payments of unsecured and secured debt (517,000,000) (430,000,000)
Payments of in-substance defeased debt 0 (128,212,000)
Transaction costs 0 (573,000)
Repurchases of common stock (1,369,000) (37,206,000)
Accelerated share repurchase 0 (200,000,000)
Dividends paid to common stock and unitholders (54,960,000) (109,388,000)
Dividends paid to preferred stock and unitholders (15,600,000) (18,124,000)
Contributions from redeemable non-controlling members in consolidated real estate entities 1,125,000 575,000
Distributions to redeemable non-controlling members in consolidated real estate entities (8,256,000) (8,000)
Contributions from non-controlling members in consolidated real estate entities 21,531,000 16,241,000
Distributions to non-controlling members in consolidated real estate entities (53,910,000) (56,386,000)
Payments to satisfy tax withholding obligations (87,000) 0
Payments of loan costs 0 (1,100,000)
Net cash (used in) provided by financing activities (290,170,000) 14,070,000
Net (decrease) increase in cash and cash equivalents and restricted cash (191,637,000) 7,192,000
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 $ 94,094,000 $ 204,068,000