XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 58,643 $ (356,246)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 234,674 246,623
Gain on dispositions of real estate (241,400) (3,282)
Loss on extinguishment of debt 2,030 25,229
Amortization of debt issuance costs 21,123 7,039
Unrealized loss on derivative instruments, net 10,540 51,728
Share-based compensation expense 0 23,657
Other, net 15,279 27,859
Net changes in operating assets and operating liabilities 6,952 42,376
Net cash provided by operating activities 107,841 64,983
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate 0 (248,827)
Capital expenditures (93,114) (110,654)
Distributions from unconsolidated joint ventures 0 27,470
Proceeds from dispositions of real estate 262,810 0
Other investing activities, net (7,367) (14,859)
Net cash provided by (used in) investing activities 162,329 (346,870)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from non-recourse property debt 313,420 7,688,718
Principal repayments of non-recourse property debt (521,513) (3,570,230)
Net repayments of revolving credit facility 0 (115,000)
Repayments of term loans 0 (475,000)
Repayments of unsecured notes payable 0 (400,000)
Merger-related distributions 0 (2,105,949)
Redemption of common and preferred OP units (3,276) (49,014)
Payment of distributions to General Partner and Special Limited Partner (189,385) (64,649)
Payment of distributions to Limited Partners (8,618) (4,676)
Payment of distributions to noncontrolling interests (56,915) (13,189)
Repurchases of common partnership units held by General Partner and Special Limited Partner 0 (24,596)
Other financing activities, net (7,697) (33,420)
Net cash (used in) provided by financing activities (473,984) 832,995
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (203,814) 551,108
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 644,459 117,491
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 440,645 $ 668,599