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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Statement of Cash Flows [Abstract]    
Net cash provided by operating activities: $ 83,278 $ 77,369
Cash flows from investing activities:    
Investment in real estate under construction (11,720) (58,812)
Capital expenditures (11,765) (3,696)
Insurance proceeds 1,034 0
Net proceeds from sale of real estate 73,502 15,493
Investments in non-consolidated entities (354) (699)
Distributions from non-consolidated entities in excess of accumulated earnings 0 2,155
Deferred leasing costs (1,930) (2,759)
Maturity of held-to-maturity securities 0 130,000
Change in real estate deposits, net (1,152) 378
Net cash provided by in investing activities 47,615 82,060
Cash flows from financing activities:    
Dividends to common and preferred shareholders (82,098) (79,070)
Principal amortization payments (2,760) (2,663)
Principal payments on debt, excluding normal amortization (50,000) 0
Repurchase of trust preferred securities (26,725) 0
Repurchase of senior notes 0 (198,932)
Cash contributions from noncontrolling interests 990 665
Cash distributions to noncontrolling interests (110) (228)
Purchase of noncontrolling interests 0 (27,873)
Issuance of common shares, net of costs and repurchases to settle tax obligations (1,040) (1,889)
Net cash used in financing activities (161,743) (309,990)
Change in cash, cash equivalents and restricted cash (30,850) (150,561)
Cash, cash equivalents and restricted cash, at beginning of period 102,073 199,463
Cash, cash equivalents and restricted cash, at end of period 71,223 48,902
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents at beginning of period 101,836 199,247
Restricted cash at beginning of period 237 216
Cash, cash equivalents and restricted cash, at beginning of period 102,073 199,463
Cash and cash equivalents at end of period 70,976 48,676
Restricted cash at end of period 247 226
Cash, cash equivalents and restricted cash, at end of period 71,223 48,902
Supplemental disclosure of cash flow information:    
Interest paid 30,921 35,561
Income taxes paid 652 588
Supplemental schedule of non-cash investing activities:    
Accounts payable related to Investment in real estate under construction 14,023 32,474
Reclassification of Real estate, net to Investments in real estate under construction 24,550 0
Deconsolidation of Lombard Street Lots, LLC in Real estate, at cost 0 4,605
Deconsolidation of Lombard Street Lots, LLC in Investments in non-consolidated entities 0 2,311
Deconsolidation of Lombard Street Lots, LLC in Noncontrolling interests $ 0 $ 2,503