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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (12,499) $ (25,125)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 73,174 67,469
Net amortization of debt premiums, discounts and issuance costs 6,946 7,366
Amortization of acquired real estate leases 93,458 108,471
Amortization of deferred leasing costs 6,115 5,750
Gain on sale of real estate (7,437) (54,154)
Loss on impairment of real estate 21,820 55,854
Loss on early extinguishment of debt 77 9,694
Straight line rental income (7,226) (13,128)
Other non-cash expenses, net 1,591 1,627
Equity in net losses of investees 2,631 1,664
Change in assets and liabilities:    
Rents receivable 7,625 10,567
Deferred leasing costs (20,724) (14,388)
Other assets (2,358) (1,523)
Accounts payable and other liabilities (3,255) (7,919)
Due to / from related persons (7,251) 6,457
Net cash provided by operating activities 152,687 158,682
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions 0 (563,447)
Real estate improvements (137,031) (65,186)
Distributions in excess of earnings from unconsolidated joint ventures 51 459
Contributions to unconsolidated joint ventures (2,914) 0
Proceeds from sale of properties, net 189,069 192,476
Net cash provided by (used in) investing activities 49,175 (435,698)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (25,400) (72,238)
Repayment of senior unsecured notes (300,000) (610,000)
Proceeds from issuance of senior unsecured notes, net 0 1,041,809
Borrowings on unsecured revolving credit facility 295,000 755,000
Repayments on unsecured revolving credit facility (160,000) (755,000)
Payment of debt issuance costs 0 (2,655)
Repurchase of common shares (533) (1,001)
Distributions to common shareholders (79,919) (79,734)
Net cash (used in) provided by financing activities (270,852) 276,181
Decrease in cash, cash equivalents and restricted cash (68,990) (835)
Cash, cash equivalents and restricted cash at beginning of period 84,515 56,855
Cash, cash equivalents and restricted cash at end of period 15,525 56,020
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 80,504 86,917
Income taxes paid 283 294
NON-CASH INVESTING ACTIVITIES:    
Real estate improvements accrued, not paid 34,340 15,428
Real estate acquisitions 0 (13,031)
Capitalized interest 2,887 392
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 14,005 54,881
Restricted cash [1] 1,520 1,139
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 15,525 $ 56,020
[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.