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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net (loss) income $ (9,487) $ 40,602
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 52,827 45,256
Non-cash rental and related revenues (2,398) (4,474)
Non-cash interest income (392) (547)
Non-cash interest expense 3,014 2,698
Stock-based compensation expense 2,229 2,456
Loss on extinguishment of debt 1,541 271
Provision for loan losses and other reserves (208) 475
Net loss on sales of real estate 21,515 0
Impairment of real estate 7,064 0
Loss from unconsolidated joint ventures 838 2,802
Distributions of earnings from unconsolidated joint ventures 367 0
Changes in operating assets and liabilities:    
Accounts receivable, prepaid expenses and other assets, net (2,782) (5,457)
Accounts payable and accrued liabilities (5,839) (20,968)
Net cash provided by operating activities 68,289 63,114
Cash flows from investing activities:    
Acquisition of real estate (39,630) (20,573)
Origination and fundings of loans receivable (1,800) 0
Origination and fundings of preferred equity investments (6,384) (4,074)
Additions to real estate (19,540) (10,803)
Escrow deposits for potential investments 0 (3,217)
Repayments of loans receivable 6,144 696
Repayments of preferred equity investments 1,433 729
Investment in unconsolidated joint ventures (4,797) 0
Net proceeds from the sales of real estate 152,259 0
Net proceeds from sales-type lease 25,490 0
Net cash provided by (used in) investing activities 113,175 (37,242)
Cash flows from financing activities:    
Net (repayments of) borrowings from revolving credit facility (118,442) 16,577
Proceeds from term loans 12,186 0
Principal payments on term loans 0 (40,000)
Principal payments on secured debt (490) (16,067)
Payments of deferred financing costs (18,127) (6)
Issuance of common stock, net (1,847) (3,748)
Dividends paid on common stock (69,351) (69,275)
Net cash used in financing activities (196,071) (112,519)
Net decrease in cash, cash equivalents and restricted cash (14,607) (86,647)
Effect of foreign currency translation on cash, cash equivalents and restricted cash (641) 40
Cash, cash equivalents and restricted cash, beginning of period 53,932 115,886
Cash, cash equivalents and restricted cash, end of period 38,684 29,279
Supplemental disclosure of cash flow information:    
Interest paid 22,318 18,383
Supplemental disclosure of non-cash investing activities:    
Decrease in loans receivable and other investments due to acquisition of real estate $ 4,644 $ 5,623