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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flow from operating activities:    
Net income $ 30,225 $ 53,632
Adjustments to reconcile net income to net cash flow provided by operating activities:    
Depreciation and amortization 83,866 82,668
Stock-based compensation 2,766 5,792
Amortization and write-off of debt issuance costs and fair market value of debt adjustments 2,550 1,873
Loss on debt extinguishment 16,568 0
Equity in net income of joint ventures (658) (2,834)
Reserve of preferred equity interests, net 22,935 5,733
Operating cash distributions from joint ventures 2,282 4,510
Gain on sale of joint venture interest (45,553) 0
Gain on disposition of real estate, net (775) (16,590)
Impairment charges 0 620
Assumption of buildings due to ground lease terminations (3,025) 0
Change in notes receivable accrued interest 647 251
Net change in accounts receivable (20,560) 833
Net change in accounts payable and accrued expenses (7,363) (7,309)
Net change in other operating assets and liabilities (12,040) (8,970)
Total adjustments 41,640 66,577
Net cash flow provided by operating activities 71,865 120,209
Cash flow from investing activities:    
Real estate developed and improvements to operating real estate (40,205) (44,348)
Proceeds from disposition of real estate 1,062 71,145
Proceeds from sale of joint venture interest 140,441 0
Equity contributions to joint ventures (146) (46,983)
Distributions from joint ventures 3,267 14,552
Repayment of joint venture advances, net 0 14,066
Repayment of notes receivable 7,500 0
Net cash flow provided by investing activities 111,919 8,432
Cash flow from financing activities:    
Proceeds from (repayment of) revolving credit facilities, net 280,000 (25,000)
Repayment of senior notes, including repayment costs (216,568) 0
Repayment of mortgage debt (40,830) (1,093)
Repurchase of common shares in conjunction with equity award plans and dividend reinvestment plan (949) (685)
Repurchase of common shares (7,500) (14,069)
Distributions to non-controlling interests and redeemable operating partnership units (307) (380)
Dividends paid (88,083) (89,898)
Net cash flow used for financing activities (74,237) (131,125)
Effect of foreign exchange rate changes on cash and cash equivalents 4 (1)
Net increase (decrease) in cash, cash equivalents and restricted cash 109,547 (2,484)
Cash, cash equivalents and restricted cash, beginning of period 19,133 13,650
Cash, cash equivalents and restricted cash, end of period $ 128,684 $ 11,165