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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES:    
Net income (loss) $ (54,045) $ 119,836
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Share-based compensation expense 27,011 32,324
Depreciation and amortization expense, including amortization of deferred financing costs 156,841 160,797
Deferred rent (20,594) (14,764)
Loss from unconsolidated real estate ventures, net 1,320 12,829
Amortization of market lease intangibles, net (767) (874)
Amortization of lease incentives 1,812 6,175
Loss on the extinguishment of debt 450 3,073
Impairment loss 59,307  
Gain on the sale of real estate, net (41,606) (158,631)
(Income) loss on operating lease and other receivables (67) 1,392
Income from investments, net (1,163) (14,733)
Return on capital from unconsolidated real estate ventures 12,633 8,483
Other non-cash items 8,586 (7,352)
Changes in operating assets and liabilities:    
Tenant and other receivables 12,223 (5,044)
Other assets, net (22,305) (20,552)
Accounts payable and accrued expenses (18,129) (3,648)
Other liabilities, net (6,614) 11,055
Net cash provided by operating activities 114,893 130,366
INVESTING ACTIVITIES:    
Development costs, construction in progress and real estate additions (241,336) (218,835)
Acquisition of real estate (19,551) (15,232)
Deposits for real estate and other acquisitions   (1,750)
Proceeds from the sale of real estate 162,092 923,108
Proceeds from the sale of investments   19,030
Proceeds from derivative financial instruments 465  
Payments on derivative financial instruments (9,830)  
Distributions of capital from unconsolidated real estate ventures and other investments 9,264 54,759
Investments in unconsolidated real estate ventures and other investments (24,344) (86,678)
Net cash (used in) provided by investing activities (123,240) 674,402
FINANCING ACTIVITIES:    
Borrowings under mortgage loans 287,582 134,263
Borrowings under revolving credit facility 247,000 100,000
Borrowings under term loans 170,000 150,000
Repayments of mortgage loans (280,135) (268,627)
Repayments of revolving credit facility (155,000) (300,000)
Proceeds from derivative financial instruments 9,600  
Payments on derivative financial instruments (465)  
Debt issuance and modification costs (17,579) (5,135)
Redemption of partner's noncontrolling interest (647)  
Proceeds from common shares issued pursuant to ESPP 665 800
Common shares repurchased (273,851) (361,042)
Dividends paid to common shareholders (72,483) (82,072)
Distributions to redeemable noncontrolling interests (11,619) (12,398)
Distributions to noncontrolling interests (15) (166)
Contributions from noncontrolling interests   9,383
Net cash used in financing activities (96,947) (634,994)
Net (decrease) increase in cash and cash equivalents, and restricted cash (105,294) 169,774
Cash and cash equivalents, and restricted cash, beginning of period 274,073 302,095
Cash and cash equivalents, and restricted cash, end of period 168,779 471,869
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION:    
Cash paid for interest (net of capitalized interest of $11,013 and $6,816 in 2023 and 2022) 65,416 52,620
Accrued capital expenditures included in accounts payable and accrued expenses 80,946 74,735
Write-off of fully depreciated assets 3,489 10,642
Conversion of OP Units to common shares 33,110 12,667
Recognition of operating lease right-of-use asset 61,443  
Recognition of liabilities related to operating lease right-of-use asset 61,443  
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 3,567 $ 1,638