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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (14,817,000) $ (7,615,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 97,139,000 92,193,000
Non-cash portion of interest expense 3,606,000 3,390,000
Amortization of stock-based compensation 5,236,000 5,329,000
Loss (income) from unconsolidated real estate entities 745,000 (303,000)
Unrealized gain on non-real estate investments (839,000) (1,650,000)
Straight-line rents (10,711,000) (14,899,000)
Straight-line rent expenses 1,268,000 422,000
Amortization of above- and below-market leases, net (1,620,000) (2,739,000)
Amortization of above- and below-market ground leases, net 688,000 668,000
Amortization of lease incentive costs 311,000 432,000
Distribution of income from unconsolidated real estate entities 0 393,000
Loss on derivatives 3,765,000 0
Impairment loss 0 20,503,000
Gain on sale of real estate (7,046,000) 0
Change in operating assets and liabilities:    
Accounts receivable 1,756,000 (4,133,000)
Deferred leasing costs and lease intangibles (6,139,000) (3,799,000)
Prepaid expenses and other assets (3,537,000) (10,068,000)
Accounts payable, accrued liabilities and other 15,294,000 21,964,000
Security deposits, prepaid rent and other 7,417,000 (4,634,000)
Net cash provided by operating activities 92,516,000 95,454,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 100,441,000 0
Additions to investment in real estate (76,452,000) (52,733,000)
Maturities of U.S. Government securities 0 2,156,000
Contributions to non-real estate investments (901,000) (10,534,000)
Proceeds from sales of non-real estate investments 503,000 0
Distributions from unconsolidated real estate entities 668,000 422,000
Contributions to unconsolidated real estate entities (12,986,000) (7,922,000)
Additions to non-real estate property, plant and equipment (774,000) (3,658,000)
Net cash provided by (used in) investing activities 10,499,000 (72,269,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 55,783,000 235,846,000
Payments of unsecured and secured debt (212,000,000) 0
Payments of in-substance defeased debt 0 (918,000)
Transaction costs 0 (76,000)
Repurchases of common stock (1,369,000) 0
Accelerated share repurchase 0 (200,000,000)
Dividends paid to common stock and unitholders (36,665,000) (36,942,000)
Dividends paid to preferred stock and unitholders (5,200,000) (7,724,000)
Contributions from redeemable non-controlling members in consolidated real estate entities 0 125,000
Distributions to redeemable non-controlling members in consolidated real estate entities (3,248,000) 0
Contributions from non-controlling members in consolidated real estate entities 6,497,000 2,624,000
Distributions to non-controlling members in consolidated real estate entities (9,559,000) (15,215,000)
Payments to satisfy tax withholding obligations (87,000) 0
Net cash used in financing activities (205,848,000) (22,280,000)
Net (decrease) increase in cash and cash equivalents and restricted cash (102,833,000) 905,000
Cash and cash equivalents and restricted cash—beginning of period 285,731,000 196,876,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 182,898,000 $ 197,781,000