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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities:    
Net (loss) income $ 1,369 $ (443,384)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation of building and building improvements 30,988 39,592
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs 16,170 22,976
Amortization of above and below market leases, net (631) (413)
Amortization of deferred financing costs and debt premium 2,221 2,113
Amortization of swap interest 63 63
Deferred rent (1,831) (6,060)
Net gain from sale of operating properties (9,120) (20,909)
Net loss from investment in unconsolidated entity 0 32,169
Gain from investments (236) (51)
Impairment provision - real estate 7,881 397,373
Impairment provision - goodwill 4,594 0
Share-based compensation 3,811 6,590
Discount amortization - note receivable (298) 0
Change in operating assets and liabilities:    
Deferred leasing costs and other assets 73 (5,239)
Accrued expenses and other liabilities (14,326) 240
Due to related parties, net 0 (295)
Net cash provided by operating activities 40,728 24,765
Investing Activities:    
Proceeds from disposition of properties 69,940 291,023
Payments for construction in progress (2,029) (1,719)
Purchase of investments (41) (149)
Net cash provided by investing activities 67,870 289,155
Financing Activities:    
Proceeds from borrowings - Credit Facility 0 400,000
Principal payoff of secured indebtedness - Mortgage Debt (24,563) (19,013)
Principal payoff of indebtedness - Term Loan 0 (400,000)
Principal amortization payments on secured indebtedness (2,984) (3,643)
Deferred financing costs (2,647) (2,580)
Offering costs 91 (9)
Redemption of preferred units 0 (125,000)
Repurchase of common shares 0 (4,443)
Distributions to noncontrolling interests (1,447) (2,401)
Distributions to preferred units subject to redemption 0 (4,891)
Distributions to common shareholders (16,466) (24,551)
Financing lease payment (217) (215)
Repurchase of common shares to satisfy employee tax withholding requirements (79) (1,450)
Net cash used in financing activities (48,312) (188,196)
Net increase in cash, cash equivalents and restricted cash 60,286 125,724
Cash, cash equivalents and restricted cash at the beginning of the period 401,010 237,944
Cash, cash equivalents and restricted cash at the end of the period 461,296 363,668
Supplemental Disclosures of Significant Non-Cash Transactions:    
Decrease in fair value swap agreement (4,170) (295)
Accrued tenant obligations 2,800 7,008
Distributions payable to common shareholders 8,336 8,121
Distributions payable to noncontrolling interests 724 795
Exchange of noncontrolling interest to common stock 486 0
Operating lease right-of-use assets obtained in exchange for lease liabilities 0 1,358
Note receivable in exchange for sale of asset (14,286) 0
Accrued for construction in progress 0 286
Shortfall Loan related to unconsolidated joint venture 3,050 0
Shortfall Loan proceeds treated as contributions to unconsolidated joint venture $ (3,050) $ 0