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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities:    
Net income (loss) $ (336,381) $ (25,180)
Net loss (income) from discontinued operations 290,333 (28,533)
Net loss from continuing operations (46,048) (53,713)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation of building and building improvements 27,796 25,107
Amortization of leasing costs and in-place lease intangible assets 11,030 8,582
Amortization of above- and (below-) market leases, net (6,942) (490)
Amortization of deferred financing costs and debt premium 3,265 3,690
Amortization of swap interest 94 95
Extinguishment of debt 0 508
Deferred rent (3,717) (2,935)
Net gain from disposition of assets (6,407) (25,245)
Gain from investments (107) (466)
Real estate impairment provision 18,195 50,774
Goodwill impairment provision 0 4,594
Share-based compensation 4,784 5,836
Discount amortization - note receivable (60) (476)
Change in operating assets and liabilities:    
Deferred leasing costs and other assets 3,431 (4,241)
Accrued expenses and other liabilities (2,599) (13,244)
Due to affiliates, net 0 16
Net cash provided by (used in) operating activities - continuing operations 2,715 (1,608)
Net cash provided by operating activities - discontinued operations 65,632 64,561
Net cash provided by operating activities 68,347 62,953
Investing Activities:    
Acquisition of properties, net (56,761) 0
Proceeds from disposition of properties 228,497 106,554
Payments for construction in progress (4,311) (285)
Purchase of investments 0 (41)
Proceeds from repayment of note receivable 15,000 0
Net cash provided by investing activities - continuing operations 182,425 106,228
Net cash provided by (used in) investing activities - discontinued operations 267,857 (3,299)
Net cash provided by investing activities 450,282 102,929
Financing Activities:    
Principal pay down of indebtedness - Credit facility (200,000) (10,000)
Principal payoff of indebtedness - Term Loan 0 (190,000)
Principal payoff of secured indebtedness - Mortgage debt (109,560) (54,154)
Principal amortization payments on secured indebtedness 0 (4,374)
Deferred financing costs 0 (14,183)
Payment for debt extinguishment (1,391) 0
Offering costs (37) (78)
Repurchase of common shares to satisfy employee tax withholding requirements (112) (79)
Repurchase of noncontrolling interest (42) 0
Distributions to noncontrolling interests (2,004) (2,170)
Dividends to common shareholders (25,161) (24,798)
Financing lease payment (342) (325)
Net cash used in financing activities (338,649) (300,161)
Net increase (decrease) in cash, cash equivalents and restricted cash 179,980 (134,279)
Cash, cash equivalents and restricted cash at the beginning of the period 154,210 401,010
Cash, cash equivalents and restricted cash at the end of the period 334,190 266,731
Supplemental disclosure of cash flow information:    
Cash paid for interest 45,679 44,032
Supplemental disclosures of non-cash investing and financing transactions:    
Dividends payable to common shareholders 3,742 8,288
Distributions payable to noncontrolling interests 722 722
Operating lease right-of-use assets obtained in exchange for lease liabilities 1,162 0
Exchange of noncontrolling interest to common stock 2,603 1,057
Accrued for construction in progress 212 0
Accrued tenant obligations and other 6,404 1,245
Decrease in fair value swap agreement (21,212) (25,060)
Note receivable, net 60 (14,286)
Shortfall Loan related to unconsolidated joint venture 0 3,050
Shortfall Loan proceeds treated as contributions to unconsolidated joint venture 0 (3,050)
Capitalized transaction costs accrued $ 231 $ 0