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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 59,812 $ 25,697
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 39,529 38,789
Amortization of deferred financing costs 1,462 1,516
Amortization of stock-based compensation 2,819 3,122
Straight-line rental income (65) (1,483)
Adjustment for collectibility of rental income 0 12,078
Noncash interest income 0 (31)
Loss (gain) on sale of real estate 56 (217)
Interest income distribution from other real estate investment 1,346 463
Impairment of real estate investments 0 16,692
Provision for loan losses 0 1,076
Change in operating assets and liabilities:    
Accounts and other receivables, net 543 (6,043)
Prepaid expenses and other assets 267 (348)
Accounts payable and accrued liabilities 2,616 3,847
Net cash provided by operating activities 108,385 95,158
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (42,075) (298,557)
Improvements to real estate (5,713) (1,230)
Purchases of equipment, furniture and fixtures (581) (2,926)
Investment in real estate mortgage and other loans receivable (13,958) (14,699)
Principal payments received on real estate mortgage and other loans receivable 80,873 11,959
Repayment of other real estate investment 2,327 2,204
Escrow deposits for potential acquisitions of real estate (1,000) (22,920)
Net proceeds from sales of real estate 2,189 218
Net cash provided by (used in) investing activities 22,062 (325,951)
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net (404)  
Proceeds from (costs paid for) the issuance of common stock, net   195,963
Proceeds from the issuance of senior unsecured term loan 0 200,000
Borrowings under unsecured revolving credit facility 15,000 235,000
Payments on unsecured revolving credit facility (75,000) (265,000)
Payments on senior unsecured term loan 0 (100,000)
Payments of deferred financing costs 0 (4,534)
Net-settle adjustment on restricted stock (1,986) (2,524)
Dividends paid on common stock (69,283) (59,155)
Net cash (used in) provided by financing activities (131,673) 199,750
Net decrease in cash and cash equivalents (1,226) (31,043)
Cash and cash equivalents, beginning of period 20,327 36,792
Cash and cash equivalents, end of period 19,101 5,749
Supplemental disclosures of cash flow information:    
Interest paid 12,671 15,648
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 2,513 3,864
Right-of-use asset obtained in exchange for new operating lease obligation 599 1,010
Transfer of pre-acquisition costs to acquired assets 167 242
Increase in pre-acquisition costs payable 0 137
Sale of real estate settled with notes receivable $ 32,400 $ 27,500