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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities      
Net income (loss) $ 84,407 $ 63,212 $ (13,037)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 189,911 216,894 201,806
Gain on sale/disposition of properties (26,764) (33,988) 0
Impairment charges 0 0 7,723
Amortization of non-cash items within interest expense 9,089 9,799 10,862
Amortization of acquired above- and below-market leases, net (2,415) (4,759) (5,896)
Amortization of acquired below-market ground leases 7,831 7,831 7,831
Straight-lining of rental revenue (19,563) (24,562) (21,078)
Equity based compensation 20,026 21,011 20,260
Loss on early extinguishment of debt 0 0 214
Increase (decrease) in cash flows due to changes in operating assets and liabilities:      
Security deposits 10,486 (828) (1,052)
Tenant and other receivables (15,643) (5,306) 2,894
Deferred leasing costs (17,669) (36,909) (16,090)
Prepaid expenses and other assets (5,186) (2,263) 5,814
Accounts payable and accrued expenses 746 4,705 (99)
Deferred revenue and other liabilities (2,765) (3,664) 12,334
Net cash provided by operating activities 232,491 211,173 212,486
Cash Flows From Investing Activities      
Acquisition of real estate property (26,910) (115,593) (117,540)
Net proceeds from disposition of real estate 88,910 11,005 0
Additions to building and improvements (139,328) (126,268) (95,037)
Development costs (12) (35) (165)
Net cash used in investing activities (77,340) (230,891) (212,742)
Cash Flows From Financing Activities      
Repayment of mortgage notes payable (8,632) (7,504) (4,091)
Contributions from consolidated joint ventures 187 224 0
Deferred financing costs 0 0 (9,486)
Repurchases of common shares (13,105) (90,176) (46,704)
Private perpetual preferred unit distributions (4,201) (4,201) (4,201)
Dividends paid to common stockholders (22,684) (23,109) (18,110)
Distributions paid to non-controlling interests in the operating partnership (14,438) (15,476) (10,453)
Net cash used in financing activities (62,873) (140,242) (93,045)
Net increase (decrease) in cash and cash equivalents and restricted cash 92,278 (159,960) (93,301)
Cash and cash equivalents and restricted cash—beginning of period 314,678 474,638 567,939
Cash and cash equivalents and restricted cash—end of period 406,956 314,678 474,638
Reconciliation of Cash and Cash Equivalents and Restricted Cash:      
Cash and cash equivalents at beginning of period 264,434 423,695 526,714
Restricted cash at beginning of period 50,244 50,943 41,225
Cash and cash equivalents at end of period 346,620 264,434 423,695
Restricted cash at end of period 60,336 50,244 50,943
Cash and cash equivalents and restricted cash 406,956 314,678 474,638
Supplemental disclosures of cash flow information:      
Cash paid for interest 92,000 91,012 77,610
Cash paid for income taxes 1,390 200 644
Non-cash investing and financing activities:      
Building and improvements included in accounts payable and accrued expenses 51,815 44,293 49,247
Write-off of fully depreciated assets 33,391 35,124 31,341
Derivative instruments at fair values included in prepaid expenses and other assets 11,800 17,902 0
Derivative instruments at fair values included in accounts payable and accrued expenses 85 0 25,308
Conversion of operating partnership units and Class B shares to Class A shares 17,671 4,495 10,426
Transfer of assets related to assets held for sale 0 35,538 0
Transfer of liabilities related to assets held for sale 0 5,943 0
Mortgage assumed in connection with sale of real estate 0 30,117 0
Debt assumed with the acquisition of real estate properties 0 0 177,453
Contribution from other partnerships $ 0 $ 0 $ 13,269