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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities:    
Net (loss) income $ 1,347 $ 39,087
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of building and building improvements 69,956 57,473
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs 50,990 54,838
Amortization of below market leases, net (1,765) (2,639)
Amortization of deferred financing costs and debt premium 1,929 4,926
Amortization of swap interest 95 94
Deferred rent (19,442) (9,655)
Deferred rent, ground lease 1,548 1,129
Termination fee revenue - receivable from tenant, net 0 (7,501)
Gain from disposition of assets (4,268) (8,441)
Gain on fair value of earn-out (2,581) 0
Loss (Income) from investment in unconsolidated entities 2,071 (1,919)
Investment in unconsolidated entities valuation adjustment 4,452 0
Impairment provision 22,195 0
(Gain) Loss from investments (118) 457
Stock-based compensation 3,116 1,673
Performance distribution allocation (non-cash) 0 (2,604)
Change in operating assets and liabilities:    
Deferred leasing costs and other assets (3,758) (5,380)
Restricted reserves 382 (79)
Accrued expenses and other liabilities 5,598 (8,943)
Due to affiliates, net (2,794) 6,907
Net cash provided by operating activities 128,953 119,423
Investing Activities:    
Cash acquired in connection with the Mergers, net of acquisition costs 0 25,321
Acquisition of properties, net (16,584) (37,781)
Proceeds from disposition of properties 23,480 46,784
Restricted reserves 159 2,030
Payments for construction in progress (41,981) (29,447)
Real estate acquisition deposits 1,047 0
Distributions of capital from investment in unconsolidated entities 8,530 13,189
Contributions of capital for investment in unconsolidated entities (8,160) 0
Purchase of investments (950) (8,353)
Net cash (used in) provided by investing activities (34,459) 11,743
Financing Activities:    
Proceeds from borrowings - KeyBank Loans 0 627,000
Proceeds from borrowings - Revolver Loan 215,000 215,854
Principal payoff of secured indebtedness - Unsecured Credit Facility - EA-1 (25,000) (715,000)
Principal payoff of secured indebtedness - Revolver Loan 0 (44,439)
Principal amortization payments on secured indebtedness (5,341) (4,903)
Offering costs (490) (1,707)
Repurchase of common stock (101,761) (98,928)
Repurchase of noncontrolling interest (1,137) 0
Deferred financing costs (145) (5,737)
Issuance of common stock, net of discounts and underwriting costs 4,699 2,789
Distributions to noncontrolling interests (10,521) (12,506)
Distributions to preferred units subject to redemption (6,141) (6,141)
Distributions to common stockholders (59,354) (69,558)
Net cash provided by (used in) financing activities 9,809 (113,276)
Net increase in cash, cash equivalents and restricted cash 104,303 17,890
Cash, cash equivalents and restricted cash at the beginning of the period 113,260 64,285
Cash, cash equivalents and restricted cash at the end of the period 217,563 82,175
Supplemental Disclosures of Significant Non-Cash Transactions:    
Decrease in fair value swap agreement (34,612) (28,080)
Distributions payable to common stockholders 6,638 13,105
Distributions payable to noncontrolling interests 913 1,697
Common stock issued pursuant to the distribution reinvestment plan 17,165 28,378
Issuance of limited partnership units 0 25,000
Issuance of stock dividends 5,747 6,165
Common stock redemptions funded subsequent to period-end (6,145) (100,362)
Mortgage debt assumed in conjunction with the acquisition of real estate assets plus a premium of $109 18,884 0
Payable for construction in progress 6,902 4,855
Accrued tenant obligations 26,891 0
Net assets acquired in Merger in exchange for common shares 0 751,278
Implied EA-1 common stock and operating partnership units issued in exchange for net assets acquired in Merger 0 751,278
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 on January 1, 2019 $ 0 $ 25,521