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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net income (loss) $ 9,668,000 $ (99,576,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 182,920,000 181,778,000
Straight-lining of rental revenue (5,300,000) (1,305,000)
Amortization of stock-based compensation expense 15,635,000 14,011,000
Amortization of deferred financing costs 7,622,000 4,630,000
Loss from unconsolidated joint ventures 3,098,000 63,138,000
Distributions of earnings from unconsolidated joint ventures 372,000 354,000
Realized and unrealized losses on real estate related fund investments 775,000 46,775,000
(Income) loss from unconsolidated real estate related funds (199,000) 867,000
Distributions of earnings from unconsolidated real estate related funds 141,000 84,000
Amortization of above and below-market leases, net (4,351,000) (3,929,000)
Non-cash gain on extinguishment of IPO related tax liability (15,437,000) 0
Other non-cash adjustments 180,000 526,000
Changes in operating assets and liabilities:    
Real estate related fund investments 0 (9,631,000)
Accounts and other receivables (609,000) 9,526,000
Deferred charges (7,163,000) (5,874,000)
Other assets (26,340,000) (19,734,000)
Accounts payable and accrued expenses 9,079,000 (9,738,000)
Other liabilities 6,479,000 3,695,000
Net cash provided by operating activities 176,570,000 175,597,000
Cash Flows from Investing Activities:    
Additions to real estate (85,231,000) (67,373,000)
Proceeds from repayment of a mezzanine loan investment 10,000,000 0
Investments in and contributions of capital to unconsolidated joint ventures (1,904,000) (40,715,000)
Distribution of capital from an unconsolidated joint venture 1,792,000 0
Advances to a partner in One Steuart Lane 0 (35,715,000)
Repayment of advances by a partner in One Steuart Lane 0 38,935,000
Contributions of capital to unconsolidated real estate related funds 0 (2,077,000)
Net cash used in investing activities (75,343,000) (106,945,000)
Cash Flows from Financing Activities:    
Repayment of notes and mortgages payable (975,000,000) (273,000,000)
Proceeds from notes and mortgages payable 850,000,000 232,050,000
Debt issuance costs (10,649,000) (576,000)
Contributions from noncontrolling interests in consolidated joint ventures 62,220,000 0
Distributions to noncontrolling interests in consolidated joint ventures (2,444,000) (7,053,000)
Contributions from noncontrolling interests in consolidated real estate related funds 889,000 54,812,000
Distributions to noncontrolling interests in consolidated real estate related funds (18,311,000) (7,802,000)
Dividends paid to common stockholders (22,826,000) (41,267,000)
Distributions paid to common unitholders (2,292,000) (3,058,000)
Repurchase of shares related to stock compensation agreements and related tax withholdings (178,000) (205,000)
Settlement of accounts payable in connection with repurchases of common shares 0 (1,847,000)
Net cash used in financing activities (118,591,000) (47,946,000)
Net (decrease) increase in cash and cash equivalents and restricted cash (17,364,000) 20,706,000
Cash and cash equivalents and restricted cash at beginning of period 509,599,000 449,817,000
Cash and cash equivalents and restricted cash at end of period 492,235,000 470,523,000
Reconciliation of Cash and Cash Equivalents and Restricted Cash:    
Cash and cash equivalents at beginning of period 428,208,000 408,905,000
Restricted cash at beginning of period 81,391,000 40,912,000
Cash and cash equivalents and restricted cash at beginning of period 509,599,000 449,817,000
Cash and cash equivalents at end of period 318,725,000 399,631,000
Restricted cash at end of period 173,510,000 70,892,000
Cash and cash equivalents and restricted cash at end of period 492,235,000 470,523,000
Supplemental Disclosure of Cash Flow Information:    
Cash payments for interest 116,298,000 106,633,000
Cash payments for income taxes, net of refunds 1,036,000 723,000
Non-Cash Transactions:    
Write-off of fully amortized and/or depreciated assets 35,875,000 22,274,000
Change in value of interest rate swaps and interest rate caps (14,241,000) (17,630,000)
Additions to real estate included in accounts payable and accrued expenses 9,240,000 10,165,000
Common shares issued upon redemption of common units 2,073,000 11,670,000
Dividends and distributions declared but not yet paid $ 0 $ 8,357,000