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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 98,155,000 $ 58,531,000
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 142,002,000 114,663,000
Amortization of deferred financing costs 1,739,000 1,744,000
Amortization of lease inducements and above/below-market lease intangibles 4,458,000 3,526,000
Straight-line rental revenue/expense (5,359,000) (7,276,000)
Amortization of discount on unsecured senior notes 794,000 489,000
Amortization of above market assumed debt (10,000) (47,000)
Gain on sale of investment properties, net (57,375,000) (5,111,000)
Equity in loss of unconsolidated entities 452,000 1,213,000
Distributions from unconsolidated entities 6,077,000 5,261,000
Provision for bad debts 269,000 (139,000)
Non-cash share compensation 12,400,000 10,840,000
Impairment loss 0 340,000
Change in operating assets and liabilities:    
Tenant receivables (5,927,000) (2,913,000)
Other assets (1,455,000) 3,300,000
Accounts payable (125,000) (1,247,000)
Accrued expenses and other liabilities 6,258,000 (7,427,000)
Net cash provided by operating activities 202,353,000 175,747,000
Cash Flows from Investing Activities:    
Proceeds from sale of investment properties 123,179,000 31,093,000
Acquisition of investment properties, net (111,587,000) (120,617,000)
Investment in unconsolidated entities (13,349,000) (7,281,000)
Escrowed cash - acquisition deposits/earnest deposits 360,000 (1,154,000)
Capital expenditures on investment properties (29,840,000) (22,159,000)
Investment in real estate loans receivable (29,618,000) (14,406,000)
Repayment of real estate loans receivable 22,441,000 18,902,000
Leasing commissions (2,766,000) (3,343,000)
Lease inducements (500,000) 0
Net cash used in investing activities (41,680,000) (118,965,000)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 31,446,000 135,142,000
Proceeds from credit facility borrowings 239,000,000 304,000,000
Repayment of credit facility borrowings (251,000,000) (311,000,000)
Principal payments on mortgage debt (15,845,000) (7,833,000)
Debt issuance costs (67,000) (5,300,000)
Payments made on financing lease 0 (1,700,000)
Dividends paid - shareholders (156,854,000) (148,478,000)
Distributions to noncontrolling interests - Operating Partnership (8,191,000) (3,792,000)
Preferred distributions paid - OP Unit holder 0 (303,000)
Contributions from noncontrolling interest 569,000 0
Distributions to noncontrolling interests - partially owned properties (517,000) (491,000)
Payments of employee taxes for withheld stock-based compensation shares (4,255,000) (4,183,000)
Purchase of Series A Preferred Units 0 (4,661,000)
Purchase of OP Units (2,323,000) (5,332,000)
Net cash used in financing activities (168,037,000) (53,931,000)
Net (decrease) increase in cash and cash equivalents (7,364,000) 2,851,000
Cash and cash equivalents, beginning of period 9,876,000 2,515,000
Cash and cash equivalents, end of period 2,512,000 5,366,000
Supplemental Cash Flow Information [Abstract]    
Supplemental disclosure of cash flow information - interest paid during the period 57,977,000 49,160,000
Supplemental disclosure of noncash activity—settlement of note receivable in exchange for Series A Preferred Units 0 20,646,000
Supplemental disclosure of noncash activity—change in fair value of interest rate swap agreements 6,215,000 1,805,000
Supplemental disclosure of noncash activity—conversion of loan receivable in connection to the acquisition of investment property $ 5,700,000 $ 15,500,000