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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net (loss) income $ (171,804) $ 48,357
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 367,671 109,772
Other amortization 23,405 2,680
Share-based compensation 8,916 7,055
Amortization of straight-line rent receivable (lessor) (19,313) (3,292)
Amortization of straight-line rent on operating leases (lessee) 3,062 756
Gain on sales of real estate properties (8,162) (53,280)
Loss on extinguishment of debt 0 1,429
Impairment of real estate properties and credit loss reserves 86,637 (25)
Equity loss from unconsolidated joint ventures 797 652
Distributions from unconsolidated joint ventures 3,031 108
Non-cash interest from financing and notes receivable (488) (388)
Changes in operating assets and liabilities:    
Other assets, including right-of-use-assets (17,502) 540
Accounts payable and accrued liabilities (38,601) (3,166)
Other liabilities 16,673 2,923
Net cash provided by operating activities 254,322 114,121
INVESTING ACTIVITIES    
Acquisitions of real estate (39,301) (287,004)
Development of real estate (17,594) (7,475)
Additional long-lived assets (94,013) (45,631)
Funding of mortgages and notes receivable (11,503) 0
Investments in unconsolidated joint ventures (3,824) (49,599)
Investment in financing receivable (780)  
Investment in financing receivable   498
Proceeds from sales of real estate properties and additional long-lived assets 160,870 108,044
Net cash used in investing activities (6,145) (281,167)
FINANCING ACTIVITIES    
Net (repayments) borrowings on unsecured credit facility (31,000) 280,500
Repayments of notes and bonds payable (1,340) (18,224)
Redemption of notes and bonds payable 0 (2,184)
Dividends paid (236,105) (93,774)
Net proceeds from issuance of common stock 77 22,768
Common stock redemptions (1,842) (852)
Distributions to non-controlling interest holders (2,546) 0
Debt issuance and assumption costs (438) 0
Payments made on finance leases (40) (51)
Net cash (used in) provided by financing activities (273,234) 188,183
(Decrease) increase in cash and cash equivalents (25,057) 21,137
Cash and cash equivalents at beginning of period 60,961 13,175
Cash and cash equivalents at end of period 35,904 34,312
Supplemental Cash Flow Information    
Interest paid 106,985 26,641
Mortgage note receivable taken in connection with sale of real estate 45,000 0
Invoices accrued for construction, tenant improvements and other capitalized costs 30,956 18,874
Capitalized interest $ 1,282 $ 145