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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (28,959) $ 40,162
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 75,802 78,605
Gain on dispositions of real estate, net 0 (105,526)
Loss on extinguishment of debt 0 1,108
Amortization of debt issuance costs 7,029 7,015
(Income) loss from unconsolidated real estate partnerships (5,116) 3,610
Unrealized (gain) loss on derivative instruments, net (16,890) 15,236
Other, net 79 682
Net changes in operating assets and operating liabilities 7,655 (32,590)
Net cash provided by operating activities 39,600 8,302
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate and deposits related to purchases of real estate (3,815) 0
Capital expenditures (12,768) (24,714)
Proceeds from dispositions of real estate 0 91,164
Proceeds from dispositions of unconsolidated real estate partnerships 8,316 0
Other investing activities, net (492) (1,668)
Net cash (used in) provided by investing activities (8,759) 64,782
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments and paydowns of non-recourse property debt (5,455) (136,032)
Payment of distributions to General Partner and Special Limited Partner (143,964) 0
Payment of distributions to Limited Partners (6,473) 0
Other financing activities, net (2,236) (8,354)
Net cash used in financing activities (158,128) (144,386)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (127,287) (71,302)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 372,372 644,459
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 245,085 $ 573,157