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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (13,407) $ 37,860
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 24,965 21,629
Net amortization of debt premiums, discounts and issuance costs 2,404 2,432
Amortization of acquired real estate leases 34,079 41,575
Amortization of deferred leasing costs 2,106 1,820
Gain on sale of real estate (2,149) (54,004)
Loss on impairment of real estate 17,047 7,660
Straight line rental income (2,686) (5,357)
Other non-cash expenses, net 142 49
Equity in net losses of investees 846 396
Change in assets and liabilities:    
Rents receivable 5,184 11,320
Deferred leasing costs (7,082) (4,826)
Other assets (341) (259)
Accounts payable and other liabilities (11,919) (9,609)
Due to related persons 1,077 7,256
Net cash provided by operating activities 50,266 57,942
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (36,229) (15,329)
Distributions in excess of earnings from unconsolidated joint ventures 51 153
Contributions to unconsolidated joint ventures (1,070) 0
Proceeds from sale of properties, net 28,464 129,072
Net cash (used in) provided by investing activities (8,784) 113,896
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (305) (643)
Distributions to common shareholders (26,634) (26,575)
Net cash used in financing activities (26,939) (27,218)
Increase in cash, cash equivalents and restricted cash 14,543 144,620
Cash, cash equivalents and restricted cash at beginning of period 84,515 56,855
Cash, cash equivalents and restricted cash at end of period 99,058 201,475
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 28,630 36,136
NON-CASH INVESTING ACTIVITIES:    
Real estate improvements accrued, not paid 25,165 9,164
Capitalized interest 607 50
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 97,656 184,462
Restricted cash [1] 1,402 17,013
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 99,058 $ 201,475
[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.