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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES:    
Net income (loss) $ 48,175,000 $ 28,248,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation expense 17,362,000 16,589,000
Depreciation and amortization, including amortization of debt issuance costs 49,360,000 49,936,000
Deferred rent (6,614,000) (9,341,000)
(Income) loss from unconsolidated real estate ventures, net 2,692,000 (3,601,000)
Amortization of market lease intangibles, net (163,000) (132,000)
Amortization of lease incentives 1,609,000 2,057,000
Loss on extinguishment of debt 33,000  
Gain on sale of real estate (59,477,000) (39,033,000)
Net unrealized loss (gain) on derivative financial instruments not designated as cash flow hedges (47,000) 48,000
Losses on operating lease receivables 2,718,000 1,568,000
Return on capital from unconsolidated real estate ventures 532,000 398,000
Other non-cash items (116,000) 519,000
Changes in operating assets and liabilities:    
Tenant and other receivables (4,210,000) (4,185,000)
Other assets, net (1,105,000) 1,647,000
Accounts payable and accrued expenses (5,968,000) (18,943,000)
Other liabilities, net (2,865,000) (7,867,000)
Net cash provided by operating activities 41,916,000 17,908,000
INVESTING ACTIVITIES:    
Development costs, construction in progress and real estate additions (107,013,000) (68,667,000)
Deposits for real estate acquisitions   (8,525,000)
Proceeds from sale of real estate 154,493,000 117,676,000
Distributions of capital from unconsolidated real estate ventures   6,555,000
Investments in unconsolidated real estate ventures (3,563,000) (2,851,000)
Net cash provided by investing activities 43,917,000 44,188,000
FINANCING ACTIVITIES:    
Finance lease payments (2,642,000) (33,000)
Borrowings under mortgages payable 175,000,000  
Borrowings under revolving credit facility 200,000,000  
Repayments of mortgages payable (2,221,000) (3,065,000)
Repayments of revolving credit facility (200,000,000)  
Debt issuance costs (9,278,000)  
Common shares repurchased (41,177,000)  
Dividends paid to common shareholders (30,184,000) (39,298,000)
Distributions to redeemable noncontrolling interests (3,828,000) (5,895,000)
Contributions from noncontrolling interests   124,000
Net cash provided by (used in) financing activities 85,670,000 (48,167,000)
Net increase in cash and cash equivalents and restricted cash 171,503,000 13,929,000
Cash and cash equivalents and restricted cash as of the beginning of the period 142,516,000 399,532,000
Cash and cash equivalents and restricted cash as of the end of the period 314,019,000 413,461,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:    
Cash paid for interest (net of capitalized interest of $5,268 and $6,915 in 2020 and 2019) 10,927,000 15,489,000
Accrued capital expenditures included in accounts payable and accrued expenses 76,418,000 74,299,000
Write-off of fully depreciated assets 7,111,000 18,477,000
Conversion of common limited partnership units to common shares 31,126,000 57,001,000
Recognition (derecognition) of operating lease right-of-use assets (13,151,000) 35,318,000
Recognition (derecognition) of liabilities related to operating lease right-of-use assets. (13,151,000) 37,922,000
Recognition of finance lease right-of-use assets 42,354,000  
Recognition of liabilities related to finance lease right-of-use assets 40,684,000  
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 1,396,000 $ 1,708,000