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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (25,125) $ 8,342
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 67,469 62,570
Net amortization of debt premiums, discounts and issuance costs 7,366 7,162
Amortization of acquired real estate leases 108,471 126,409
Amortization of deferred leasing costs 5,750 5,208
Gain on sale of real estate (54,154) (10,822)
Loss on impairment of real estate 55,854 2,954
Loss on early extinguishment of debt 9,694 2,701
Straight line rental income (13,128) (12,963)
Other non-cash expenses, net 1,627 1,542
Equity in net losses of investees 1,664 815
Change in assets and liabilities:    
Rents receivable 10,567 (4,853)
Deferred leasing costs (14,388) (10,722)
Other assets (1,523) (860)
Accounts payable and other liabilities (7,919) (11,593)
Due to related persons 6,457 208
Net cash provided by operating activities 158,682 166,098
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions (563,447) (11,864)
Real estate improvements (65,186) (55,135)
Proceeds from sale of real estate held-for-investment 192,476 81,528
Proceeds from repayment of mortgage note receivable 0 2,880
Net cash (used in) provided by investing activities (435,698) 18,104
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (72,238) (154,734)
Repayment of senior unsecured notes (610,000) (400,000)
Proceeds from issuance of senior unsecured notes, net 1,041,809 408,932
Borrowings on unsecured revolving credit facility 755,000 561,467
Repayments on unsecured revolving credit facility (755,000) (561,467)
Payment of debt issuance costs (2,655) (1,477)
Repurchase of common shares (1,001) (434)
Distributions to common shareholders (79,734) (79,546)
Net cash provided by (used in) financing activities 276,181 (227,259)
Decrease in cash, cash equivalents and restricted cash (835) (43,057)
Cash, cash equivalents and restricted cash at beginning of period 56,855 100,696
Cash, cash equivalents and restricted cash at end of period 56,020 57,639
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 86,917 83,116
Income taxes paid 294 1,097
NON-CASH INVESTING ACTIVITIES:    
Real estate improvements accrued, not paid 15,428 12,640
Real estate acquisitions (13,031) 0
Capitalized interest 392 119
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 54,881 45,035
Restricted cash [1] 1,139 12,604
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 56,020 57,639
Unconsolidated Joint Ventures    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from equity method investment, distribution, return of capital 459 408
AIC    
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from equity method investment, distribution, return of capital $ 0 $ 287
[1] Restricted cash consists of amounts escrowed for future real estate taxes, insurance, leasing costs, capital expenditures and debt service, as required by certain of our mortgage debts.