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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 76,973 $ 45,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 267,889 150,904
Other amortization 11,875 2,721
Share-based compensation 16,772 8,183
Amortization of straight-line rent receivable (lessor) (12,267) (4,574)
Amortization of straight-line rent on operating leases (lessee) 2,016 1,115
Gain on sales of real estate properties (197,188) (41,046)
Loss on extinguishment of debt 2,520 0
Impairment of real estate properties (25) 16,581
Equity loss from unconsolidated joint ventures 776 404
Distributions from unconsolidated joint ventures 893 0
Non-cash interest from financing and notes receivable (1,901) (196)
Changes in operating assets and liabilities:    
Other assets, including right-of-use-assets (19,230) (9,947)
Accounts payable and accrued liabilities 35,769 215
Other liabilities (58,213) 843
Net cash provided by operating activities 126,659 170,255
INVESTING ACTIVITIES    
Acquisitions of real estate (376,924) (250,766)
Development of real estate (17,572) (2,020)
Additional long-lived assets (97,797) (69,647)
Funding of mortgages and notes receivable (3,441) 0
Investments in unconsolidated joint ventures (99,586) (49,612)
Investment in financing receivable 167  
Investment in financing receivable   (104,654)
Proceeds from sales of real estate properties and additional long-lived assets 870,806 112,029
Proceeds from notes receivable repayments 500 0
Cash assumed in Merger, including restricted cash for special dividend payment 1,149,681 0
Net cash provided by (used in) investing activities 1,425,834 (364,670)
FINANCING ACTIVITIES    
Net (repayments)/borrowings on unsecured credit facility (154,400) 90,500
Borrowings on term loans 666,500 0
Repayment on term loan (718,500) 0
Repayments of notes and bonds payable (18,880) (2,914)
Redemption of notes and bonds payable (2,184) 0
Dividends paid (165,735) (130,825)
Special dividend paid in relation to the Merger (1,123,648) 0
Net proceeds from issuance of common stock 22,851 240,779
Common stock redemptions (894) (2,014)
Distributions to non-controlling interest holders (442) 0
Debt issuance and assumption costs (12,753) (252)
Payments made on finance leases 0 (162)
Net cash (used in) provided by financing activities (1,508,085) 195,112
Increase in cash and cash equivalents 44,408 697
Cash and cash equivalents at beginning of period 13,175 15,303
Cash and cash equivalents at end of period 57,583 16,000
Supplemental Cash Flow Information    
Interest paid 83,382 40,653
Invoices accrued for construction, tenant improvements and other capitalized costs 52,840 11,663
Capitalized interest $ 848 $ 187