v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (80,278) $ (53,355)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 93,085 91,854
Non-cash interest expense 4,458 1,915
Amortization of share/unit-based compensation 5,140 6,567
Straight-line rents (92) 3,102
Straight-line rent expense 731 1,033
Amortization of above- and below-market leases, net (866) (1,421)
Amortization of above- and below-market ground leases, net 651 662
Amortization of lease incentive costs 667 139
Loss from unconsolidated real estate entities 1,254 743
Unrealized loss on non-real estate investments 449 898
Loss on extinguishment of debt 1,858 0
Gain on sale of real estate, net (10,023) 0
Impairment loss 18,476 0
Deferred tax benefit (7) (8)
Change in operating assets and liabilities:    
Accounts receivable 2,989 596
Deferred leasing costs and lease intangibles (12,307) (3,925)
Prepaid expenses and other assets 895 7,675
Accounts payable, accrued liabilities and other 14,700 10,340
Security deposits, prepaid rent and other (11,244) (1,687)
Net cash provided by operating activities 30,536 65,128
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 63,233 0
Additions to investment in real estate (37,140) (44,805)
Contributions to non-real estate investments (1,303) (547)
Distributions from unconsolidated real estate entities 378 0
Contributions to unconsolidated real estate entities (4,487) (20,933)
Additions to non-real estate property, plant and equipment (4,736) (5,075)
Net cash provided by (used in) investing activities 15,945 (71,360)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 494,000 98,000
Payments of unsecured and secured debt (484,705) (10,000)
Redemption of series A preferred units (1,421) 0
Dividends paid to common stock and unitholders (353) (7,869)
Dividends paid to preferred stock and unitholders (5,193) (5,200)
Distributions to redeemable non-controlling members in consolidated real estate entities 0 (3,917)
Contributions from non-controlling members in consolidated real estate entities 2,989 4,704
Purchase of non-controlling interest 0 (40,937)
Distributions to non-controlling members in consolidated real estate entities (4,789) (14,085)
Payments to satisfy tax withholding obligations (195) (48)
Payments of loan costs (12,065) 0
Net cash (used in) provided by financing activities (11,732) 20,648
Net increase in cash and cash equivalents and restricted cash 34,749 14,416
Cash and cash equivalents and restricted cash—beginning of period 99,177 119,156
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 133,926 $ 133,572