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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 238,114 $ 152,683 $ 80,765
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sales of investments in unconsolidated joint ventures (45,767) 0 0
Gain on investment property transactions (90,125) (110,761) (5,437)
Impairment 14,829 0 0
Depreciation and amortization 288,648 257,149 181,382
Amortization of deferred financing costs and premium on notes payable (888) 1,500 2,417
Equity-classified stock-based compensation expense, net of forfeitures 5,298 3,830 3,399
Effect of non-cash adjustments to rental revenues (52,593) (44,839) (32,401)
Income from unconsolidated joint ventures (7,947) (12,666) (12,224)
Operating distributions from unconsolidated joint ventures 9,303 11,792 16,756
Gain on extinguishment of debt 0 0 (8)
Changes in other operating assets and liabilities:      
Change in other receivables and other assets, net (2,439) (10,079) (6,049)
Change in operating liabilities, net (5,345) 54,568 434
Net cash provided by operating activities 351,088 303,177 229,034
Proceeds from investment property sales, net      
Proceeds from investment property sales, net 435,833 62,667 372
Proceeds from sale of interest in unconsolidated joint ventures, net 53,601 0 0
Property acquisition, development, and tenant asset expenditures (619,602) (482,633) (223,636)
Cash and restricted cash acquired in merger 0 85,989 0
Contributions to unconsolidated joint ventures (4,285) (23,361) (50,933)
Distributions from unconsolidated joint ventures 2,151 10 2,032
Change in notes receivable and other assets (161) (96) (8,317)
Other 0 0 (4,002)
Net cash used in investing activities (132,463) (357,424) (284,484)
Proceeds from credit facility      
Proceeds from credit facility 575,500 1,212,000 8,000
Repayment of credit facility (594,600) (960,500) (8,000)
Repayment of notes payable (38,700) (691,179) (31,402)
Issuance of unsecured senior notes 0 650,000 0
Payment of deferred financing costs (73) (2,868) (6,166)
Contributions from noncontrolling interests 5,197 8,087 1,497
Distributions to nonredeemable noncontrolling interests (1,156) (2,411) (2,653)
Common dividends paid (176,263) (142,941) (107,167)
Other 0 (1,028) (1,709)
Net cash provided by (used in) financing activities (230,095) 69,160 (147,600)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (11,470) 14,913 (203,050)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 17,608 2,695 205,745
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 6,138 $ 17,608 $ 2,695