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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (32,281) $ (12,499)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 77,635 73,174
Net amortization of debt premiums, discounts and issuance costs 6,808 6,946
Amortization of acquired real estate leases and assumed real estate lease obligations, net 71,332 93,458
Amortization of deferred leasing costs 7,359 6,115
Gain on sale of real estate (487) (7,437)
Loss on impairment of real estate 0 21,820
Loss on early extinguishment of debt 0 77
Straight line rental income (17,120) (7,226)
Other non-cash expenses, net 1,053 1,591
Equity in net losses of investees 2,290 2,631
Change in assets and liabilities:    
Rents receivable (1,375) 7,625
Deferred leasing costs (17,904) (20,724)
Other assets (4,426) (2,358)
Accounts payable and other liabilities 14,952 (3,255)
Due to/from related persons 1,297 (7,251)
Net cash provided by operating activities 109,133 152,687
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (175,628) (137,031)
Distributions in excess of earnings from unconsolidated joint ventures 0 51
Contributions to unconsolidated joint ventures (3,763) (2,914)
Proceeds from sale of properties, net 22,449 189,069
Net cash (used in) provided by investing activities (156,942) 49,175
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (50,000) (25,400)
Proceeds from issuance of mortgage notes payable 177,320 0
Repayment of senior unsecured notes 0 (300,000)
Borrowings on unsecured revolving credit facility 225,000 295,000
Repayments on unsecured revolving credit facility (220,000) (160,000)
Payment of debt issuance costs (5,843) 0
Repurchase of common shares (291) (533)
Distributions to common shareholders (50,998) (79,919)
Net cash provided by (used in) financing activities 75,188 (270,852)
Increase (decrease) in cash, cash equivalents and restricted cash 27,379 (68,990)
Cash, cash equivalents and restricted cash at beginning of period 12,249 84,515
Cash, cash equivalents and restricted cash at end of period 39,628 15,525
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 79,324 80,504
Income taxes paid 374 283
NON-CASH INVESTING ACTIVITIES:    
Real estate improvements accrued, not paid 41,445 34,340
Capitalized interest 6,423 2,887
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Cash and cash equivalents 24,358 14,005
Restricted cash [1] 15,270 1,520
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 39,628 $ 15,525
[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.