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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - Cash and Restricted Cash (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2020
Statement of Cash Flows [Abstract]        
Cash and cash equivalents $ 705,160 $ 634,848 $ 849,079  
Restricted cash 163,242 [1] 382,097 59,010 [1]  
Total cash and cash equivalents and restricted cash shown in our condensed consolidated statements of cash flows $ 868,402 $ 1,016,945 $ 908,089 $ 90,849
[1] As of June 30, 2022, restricted cash consists of proceeds from the sale of joint venture interests and proceeds from the sale of properties to joint ventures held as collateral pursuant to the agreement governing our revolving credit facility, or our credit agreement. We may use these funds to pay for approved expenditures in accordance with our credit agreement. Restricted cash also consists of amounts escrowed for real estate taxes, insurance and capital expenditures at certain of our mortgaged properties. Prior to the deconsolidation of the joint venture that owns a life science property located in Boston, Massachusetts, or our Boston life science property joint venture, restricted cash also consisted of cash held for the operations of this joint venture. As of June 30, 2021, restricted cash also included amounts from dispositions held as collateral pursuant to our credit agreement. In June 2022, we sold an additional 10% equity interest in our Boston life science property joint venture to an existing joint venture investor for $108,000, before closing costs and other adjustments. The net proceeds of $108,956, which include working capital prorations and formation costs, are included as a receivable in other assets, net in our condensed consolidated balance sheet as of June 30, 2022. We received the proceeds from this sale in July 2022, which will be included in restricted cash in our condensed consolidated balance sheet.