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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (29,463) $ (28,837)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 49,455 43,313
Net amortization of debt premiums, discounts and issuance costs 4,770 4,924
Amortization of acquired real estate leases 65,691 74,301
Amortization of deferred leasing costs 4,096 3,766
(Gain) loss on sale of real estate 9,488 (54,118)
Loss on impairment of real estate 21,820 55,857
Loss on early extinguishment of debt 77 9,294
Straight line rental income (5,461) (9,204)
Other non-cash expenses, net 943 952
Equity in net losses of investees 1,679 976
Change in assets and liabilities:    
Rents receivable 6,770 15,206
Deferred leasing costs (15,194) (8,764)
Other assets 4,821 3,986
Accounts payable and other liabilities (10,460) (6,044)
Due to related persons (119) 11,768
Net cash provided by operating activities 108,913 117,376
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions 0 (535,902)
Real estate improvements (89,144) (31,303)
Distributions in excess of earnings from unconsolidated joint ventures 51 306
Contributions to unconsolidated joint ventures (2,202) 0
Proceeds from sale of properties, net 74,183 166,432
Net cash used in investing activities (17,112) (400,467)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (25,283) (71,939)
Repayment of senior unsecured notes (300,000) (310,000)
Proceeds from issuance of senior unsecured notes, net 0 297,699
Borrowings on unsecured revolving credit facility 230,000 420,000
Repayments on unsecured revolving credit facility 0 (35,000)
Payment of debt issuance costs 0 (941)
Repurchase of common shares (16) (352)
Distributions to common shareholders (53,268) (53,150)
Net cash (used in) provided by financing activities (148,567) 246,317
Decrease in cash, cash equivalents and restricted cash (56,766) (36,774)
Cash, cash equivalents and restricted cash at beginning of period 84,515 56,855
Cash, cash equivalents and restricted cash at end of period 27,749 20,081
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 56,490 53,722
Income taxes paid 283 287
NON-CASH INVESTING ACTIVITIES:    
Real estate improvements accrued, not paid 25,706 18,472
Real estate acquisitions 0 (13,031)
Capitalized interest 1,600 150
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 26,006 18,667
Restricted cash [1] 1,743 1,414
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 27,749 $ 20,081
[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.