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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
OPERATING ACTIVITIES          
Net income $ 23,096 $ 75,513 $ 47,118 $ 79,828  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     99,905 95,188  
Other amortization     1,728 2,510  
Share-based compensation     5,647 5,004  
Amortization of straight-line rent receivable (lessor)     (3,024) (1,807)  
Amortization of straight-line rent on operating leases (lessee)     735 749  
Gain on sales of real estate properties     (39,860) (68,218)  
Impairment of real estate properties     5,912    
Equity loss from unconsolidated joint ventures 146 116 220 127  
Distributions from unconsolidated joint ventures       184  
Changes in operating assets and liabilities:          
Other assets, including right-of-use-assets     (4,746) (1,272)  
Accounts payable and accrued liabilities     (10,418) (5,902)  
Other liabilities     2,412 (1,152)  
Net cash provided by operating activities     105,629 105,239  
INVESTING ACTIVITIES          
Acquisitions of real estate     (100,121) (87,417)  
Development of real estate     (1,415) (2,678)  
Additional long-lived assets     (41,839) (44,316)  
Investments in unconsolidated joint ventures     (45,018)    
Investment in financing receivable     (104,648)    
Proceeds from sales of real estate properties     90,144    
Net cash used in investing activities     (202,897) (134,411)  
FINANCING ACTIVITIES          
Net borrowings (repayments) on unsecured credit facility     13,000 (293,000)  
Borrowings on term loan       150,000  
Borrowings of notes and bonds payable       298,995  
Repayments on notes and bonds payable     (1,925) (31,698)  
Dividends paid     (86,803) (80,926)  
Net proceeds from issuance of common stock     179,381 40,169  
Common stock redemptions     (2,014) (892)  
Settlement of treasury rate locks       (4,267)  
Debt issuance and assumption costs     (252) (3,018)  
Payments made on finance leases (321) (2,847) (683) (3,168)  
Net cash provided by financing activities     100,704 72,195  
Increase in cash and cash equivalents     3,436 43,023  
Cash and cash equivalents at beginning of period     15,303 657 $ 657
Cash and cash equivalents at end of period $ 18,739 $ 43,680 18,739 43,680 $ 15,303
Supplemental Cash Flow Information          
Interest paid     24,659 26,101  
Invoices accrued for construction, tenant improvements and other capitalized costs     19,506 10,013  
Mortgage notes payable assumed upon acquisition (adjusted to fair value)       19,269  
Capitalized interest     $ 154 $ 706