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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income (loss) $ 19,227 $ (43,264)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 12,252 13,594
Amortization of deferred financing costs 609 520
Unrealized losses on other real estate related investments, net 454 0
Amortization of stock-based compensation 936 1,521
Straight-line rental income 7 (6)
Adjustment for collectibility of rental income 0 977
Noncash interest income 150 0
Loss (gain) on sale of real estate, net 70 (186)
Impairment of real estate investments 1,886 59,683
Provision for loan losses, net 0 3,844
Change in operating assets and liabilities:    
Accounts and other receivables (33) 337
Prepaid expenses and other assets, net 61 (404)
Accounts payable, accrued liabilities and deferred rent liabilities (499) (2,037)
Net cash provided by operating activities 35,120 34,579
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied 0 (21,915)
Purchases of equipment, furniture and fixtures and improvements to real estate (2,019) (1,918)
Investment in real estate related investments and other loans receivable 0 (2,086)
Principal payments received on real estate related investments and other loans receivable 15,143 888
Escrow deposits for acquisitions and potential acquisitions of real estate (17,172) 0
Net proceeds from sales of real estate 3,230 959
Net cash used in investing activities (818) (24,072)
Cash flows from financing activities:    
Proceeds from (costs paid for) the issuance of common stock, net (501) 0
Borrowings under unsecured revolving credit facility 10,000 25,000
Payments of deferred financing costs (21) 0
Net-settle adjustment on restricted stock (1,479) (2,772)
Dividends paid on common stock (27,409) (26,044)
Net cash used in financing activities (19,410) (3,816)
Net increase in cash and cash equivalents 14,892 6,691
Cash and cash equivalents as of the beginning of period 13,178 19,895
Cash and cash equivalents as of the end of period 28,070 26,586
Supplemental disclosures of cash flow information:    
Interest paid 6,671 1,355
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 393 615
Right-of-use asset obtained in exchange for new operating lease obligation 369 0
Transfer of pre-acquisition costs to acquired assets $ 0 $ 7