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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net (loss) income $ (371,303,000) $ (28,197,000) $ 2,059,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 250,644,000 232,517,000 232,487,000
Straight-lining of rental revenue (4,874,000) (13,602,000) (2,495,000)
Amortization of stock-based compensation expense 20,321,000 19,003,000 18,612,000
Amortization of deferred financing costs 6,219,000 6,156,000 9,127,000 [1]
Loss from unconsolidated joint ventures 20,126,000 21,566,000 24,896,000
Real estate impairment losses on unconsolidated joint ventures 250,172,000 31,685,000  
Distributions of earnings from unconsolidated joint ventures 17,096,000 1,324,000 7,278,000
Realized and unrealized losses on real estate related fund investments 107,722,000    
Loss (Income) from unconsolidated real estate related funds 822,000 1,239,000 (782,000)
Distributions of earnings from unconsolidated real estate related funds 117,000 1,318,000 676,000
Amortization of above and below-market leases, net (5,376,000) (1,748,000) (3,070,000)
Loss recognized upon consolidation of real estate related fund investments that were previously unconsolidated   2,627,000  
Realized and unrealized gains on marketable securities     (1,535,000)
Other non-cash adjustments 669,000 1,188,000 3,146,000
Changes in operating assets and liabilities:      
Real estate related fund investments (3,128,000)    
Accounts and other receivables 5,813,000 (8,284,000) 1,920,000
Deferred charges (12,200,000) (15,083,000) (18,438,000)
Other assets (3,542,000) (7,545,000) (8,283,000)
Accounts payable and accrued expenses (13,663,000) 3,658,000 16,246,000
Other liabilities 12,224,000 (1,185,000) (37,538,000)
Net cash provided by operating activities 277,859,000 246,637,000 244,306,000
Cash Flows from Investing Activities:      
Additions to real estate (100,526,000) (125,805,000) (112,001,000)
Investments in and contributions of capital to unconsolidated joint ventures (40,715,000) (15,812,000) (11,750,000)
Advances to a partner in One Steuart Lane (35,715,000)    
Repayment of advances by a partner in One Steuart Lane 38,935,000    
Investment in a mezzanine loan (20,000,000)    
Contributions of capital to unconsolidated real estate related funds (2,077,000) (5,018,000) (3,324,000)
Due from affiliates   (59,000,000)  
Repayment of amounts due from affiliates   59,000,000  
Distributions of capital from unconsolidated real estate related funds   1,506,000 4,926,000
Investment in real estate related funds   (7,454,000)  
Sales of marketable securities     40,228,000
Purchases of marketable securities     (21,562,000)
Net cash used in investing activities (160,098,000) (152,583,000) (103,483,000)
Cash Flows from Financing Activities:      
Repayment of notes and mortgages payable (273,000,000)   (850,000,000)
Proceeds from notes and mortgages payable 232,050,000   888,566,000
Contributions from noncontrolling interests in consolidated real estate related funds 55,837,000 3,257,000  
Distributions to noncontrolling interests in consolidated real estate related funds (8,828,000)    
Dividends paid to common stockholders (48,873,000) (67,062,000) (61,297,000)
Distributions paid to common unitholders (3,808,000) (5,962,000) (6,182,000)
Contributions from noncontrolling interests in consolidated joint ventures     121,000
Distributions to noncontrolling interests in consolidated joint ventures (8,657,000) (40,699,000) (30,539,000)
Settlement of accounts payable in connection with repurchases of common shares (1,847,000)    
Debt issuance costs (648,000)   (16,915,000)
Repurchase of shares related to stock compensation agreements and related tax withholdings (205,000) (284,000) (235,000)
Repurchases of common shares   (63,153,000)  
Net cash used in financing activities (57,979,000) (173,903,000) (76,481,000)
Net increase (decrease) in cash and cash equivalents and restricted cash 59,782,000 (79,849,000) 64,342,000
Cash and cash equivalents and restricted cash at beginning of period 449,817,000 529,666,000 465,324,000
Cash and cash equivalents and restricted cash at end of period 509,599,000 449,817,000 529,666,000
Reconciliation of Cash and Cash Equivalents and Restricted Cash:      
Cash and cash equivalents at beginning of period 408,905,000 524,900,000 434,530,000
Restricted cash at beginning of period 40,912,000 4,766,000 30,794,000
Cash and cash equivalents and restricted cash at beginning of period 449,817,000 529,666,000 465,324,000
Cash and cash equivalents at end of period 428,208,000 408,905,000 524,900,000
Restricted cash at end of period 81,391,000 40,912,000 4,766,000
Cash and cash equivalents and restricted cash at end of period 509,599,000 449,817,000 529,666,000
Supplemental Disclosure of Cash Flow Information:      
Cash payments for interest 144,388,000 139,332,000 132,476,000
Cash payments for income taxes, net of refunds 893,000 2,711,000 1,762,000
Non-Cash Transactions:      
Common shares issued upon redemption of common units 11,871,000 128,743,000 961,000
Dividends and distributions declared but not yet paid 8,360,000 18,026,000 16,895,000
Change in value of interest rate swaps and interest rate caps (25,444,000) 31,839,000 6,857,000
Write-off of fully amortized and/or depreciated assets 34,317,000 11,386,000 46,594,000
Additions to real estate included in accounts payable and accrued expenses $ 21,815,000 14,595,000 12,177,000
Transfer of deposit to investment in unconsolidated joint ventures   6,230,000 $ 6,230,000
Repurchases of common shares included in accounts payable and accrued expenses   1,847,000  
Increase (decrease) due to consolidation of real estate related fund investments that were previously unconsolidated:      
Real estate related fund investments   100,500,000  
Investments in unconsolidated real estate related funds   (8,965,000)  
Noncontrolling interests in consolidated real estate related funds   $ 91,535,000  
[1] Includes $761 of expense from the non-cash write-off of deferred financing costs in connection with the $860,000 refinancing of 1301 Avenue of the Americas in July 2021.