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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (39,649) $ 24,230
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 141,645 132,875
Amortization of deferred financing costs 3,251 2,259
Amortization of debt discount/(premium), net (774) (1,463)
Amortization of stock compensation costs 8,305 7,232
Straight-line rent income (6,612) (8,958)
Amortization of acquired above (below) market leases, net (993) (2,189)
Ground rent expense 601 611
Net gain on real estate venture transactions (181) 0
Total gain on sale of real estate (781) (16,820)
Provision for impairment 16,134 0
Loss from unconsolidated real estate ventures, including income distributions 24,504 15,049
Income tax provision 35 66
Changes in assets and liabilities:    
Accounts receivable (2,362) 933
Other assets (24,619) (9,949)
Accounts payable and accrued expenses (8,992) 3,240
Deferred income, gains and rent (1,196) (666)
Other liabilities 3,089 1,712
Net cash provided by operating activities 111,405 148,162
Cash flows from investing activities:    
Acquisition of properties 0 (3,446)
Proceeds from the sale of properties 51,285 35,462
Capital expenditures for tenant improvements (34,219) (67,782)
Capital expenditures for redevelopments (42,592) (74,383)
Capital expenditures for developments (30,149) (82,507)
Advances for the purchase of tenant assets, net of repayments (9,292) (447)
Investment in unconsolidated real estate ventures (72,715) (43,681)
Deposits for real estate 3,500 (7,450)
Capital distributions from unconsolidated real estate ventures 2,700 8,930
Leasing costs paid (7,969) (20,096)
Net cash used in investing activities (139,451) (255,400)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 172,000 260,000
Repayments of credit facility borrowings (260,500) (37,000)
Repayments of unsecured notes (54,301) 0
Proceeds from unsecured term loan 70,000 0
Proceeds from secured term loan 245,000 0
Debt financing costs paid (4,371) (6,641)
Shares used for employee taxes upon vesting of share awards (952) (2,941)
Redemption of limited partnership units 0 (4,006)
Distributions paid to shareholders (98,306) (98,020)
Distributions to noncontrolling interest (294) (353)
Net cash provided by financing activities 68,276 111,039
Increase in cash and cash equivalents and restricted cash 40,230 3,801
Cash and cash equivalents and restricted cash at beginning of period 18,387 28,300
Cash and cash equivalents and restricted cash at end of period 58,617 32,101
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 17,551 27,463
Restricted cash, beginning of period 836 837
Cash and cash equivalents and restricted cash at beginning of period 18,387 28,300
Cash and cash equivalents, end of period 47,872 31,198
Restricted cash, end of period 10,745 903
Cash and cash equivalents and restricted cash at end of period 58,617 32,101
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the nine months ended September 30, 2023 and 2022 of $12,602 and $7,274, respectively 73,217 47,711
Cash paid for income taxes 550 902
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 26,027 32,805
Change in investment in real estate ventures as a result of deconsolidation 8,595 107,057
Change in operating real estate from deconsolidation of operating properties (7,814) (105,405)
Change in other assets as a result of deconsolidation of operating properties 0 (1,652)
Change in other assets as a result of investing activities 0 13,396
Change in capital expenditures financed through accounts payable at period end 4,276 (11,020)
Change in capital expenditures financed through retention payable at period end $ 2,587 $ (4,609)