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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (23,751) $ (890)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 44,649 23,818
Amortization of intangibles 47,351 13,211
Amortization of deferred financing costs 2,394 2,085
Amortization of discounts on mortgages and senior notes 15,338 227
Amortization of below-market lease liabilities (2,899) (817)
Amortization of above-market lease assets 4,790 1,556
Amortization related to right-of-use assets 334 216
Amortization of lease incentives and commissions 225 424
Unbilled straight-line rent (4,562) (1,888)
Equity-based compensation 1,973 2,925
Unrealized (gains) losses on foreign currency transactions, derivatives, and other (1,259) 2,647
Unrealized income on undesignated foreign currency advances and other hedge ineffectiveness (1,032) 0
Loss on extinguishment of debt 58 0
Gain on dispositions of real estate investments (5,867) 0
Lease incentive and commission payments (371) (1,611)
Impairment charges 4,327 0
Changes in operating assets and liabilities, net:    
Prepaid expenses and other assets 9,344 8,814
Accounts payable and accrued expenses (177) 2,905
Prepaid rent 1,321 9,393
Net cash provided by operating activities 92,186 63,015
Cash flows from investing activities:    
Investment in real estate and real estate related assets 0 (81,362)
Capital expenditures (7,976) (7,440)
Net proceeds from dispositions of real estate investments 43,134 0
Net cash provided by (used in) investing activities 35,158 (88,802)
Cash flows from financing activities:    
Borrowings under revolving credit facilities 80,000 91,040
Repayments on revolving credit facilities (52,726) 0
Proceeds from mortgage notes payable 80,512 0
Principal payments on mortgage notes payable (122,033) (4,623)
Common shares repurchased upon vesting of restricted stock (55) 0
Payments of financing costs (881) 0
Dividends paid on Common Stock (81,733) (41,658)
Distributions to non-controlling interest holders (41) (100)
Net cash (used in) provided by financing activities (107,892) 39,539
Net change in cash, cash equivalents and restricted cash 19,452 13,752
Effect of exchange rate changes on cash 1,846 2,396
Cash, cash equivalents and restricted cash, beginning of period 162,399 104,445
Cash, cash equivalents and restricted cash, end of period 183,697 120,593
Cash and cash equivalents, end of period 131,880 119,161
Restricted cash, end of period 51,817 1,432
Cash, cash equivalents and restricted cash, end of period 183,697 120,593
Non-Cash Activity:    
Accrued capital expenditures 1,857 4,349
Common Stock    
Cash flows from financing activities:    
Common Stock issuance costs 0 (21)
Series A Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock (3,081) (3,081)
Series B Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock (2,018) (2,018)
Series D Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock (3,718) 0
Series E Preferred Stock    
Cash flows from financing activities:    
Dividends paid on Preferred Stock $ (2,118) $ 0