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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 53,721 $ 59,812
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 41,328 39,529
Amortization of deferred financing costs 1,531 1,462
Loss on extinguishment of debt 10,827 0
Amortization of stock-based compensation 5,197 2,819
Straight-line rental income (26) (65)
Loss on sale of real estate 192 56
Interest income distribution from other real estate investment 0 1,346
Change in operating assets and liabilities:    
Accounts and other receivables (1,775) 543
Prepaid expenses and other assets, net (20) 267
Accounts payable, accrued liabilities and deferred rent liabilities 7,388 2,616
Net cash provided by operating activities 118,363 108,385
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (180,323) (42,075)
Purchases of equipment, furniture and fixtures and improvements to real estate (4,826) (6,294)
Investment in real estate mortgage and other loans receivable (700) (13,958)
Principal payments received on real estate mortgage and other loans receivable 172 80,873
Repayment of other real estate investment 0 2,327
Escrow deposits for potential acquisitions of real estate (3,100) (1,000)
Net proceeds from sales of real estate 6,814 2,189
Net cash (used in) provided by investing activities (181,963) 22,062
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net 22,946  
Proceeds from (costs paid for) the issuance of common stock, net   (404)
Proceeds from the issuance of senior unsecured notes payable 400,000 0
Borrowings under unsecured revolving credit facility 220,000 15,000
Payments on senior unsecured notes payable (300,000) 0
Payments on unsecured revolving credit facility (190,000) (75,000)
Payments on debt extinguishment and deferred financing costs (14,070) 0
Net-settle adjustment on restricted stock (1,331) (1,986)
Dividends paid on common stock (75,148) (69,283)
Net cash provided by (used in) financing activities 62,397 (131,673)
Net decrease in cash and cash equivalents (1,203) (1,226)
Cash and cash equivalents as of the beginning of period 18,919 20,327
Cash and cash equivalents as of the end of period 17,716 19,101
Supplemental disclosures of cash flow information:    
Interest paid 13,267 12,671
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 1,913 2,513
Right-of-use asset obtained in exchange for new operating lease obligation 0 599
Transfer of pre-acquisition costs to acquired assets 358 167
Sale of real estate settled with notes receivable $ 0 $ 32,400