v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net loss $ (76,879) $ (75,604)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Share-based compensation expense 14,887 21,029
Depreciation and amortization expense, including amortization of deferred financing costs 98,829 111,444
Deferred rent (5,544) (10,197)
Income from unconsolidated real estate ventures, net (499) (749)
Amortization of market lease intangibles, net (34) 114
Amortization of lease incentives 6,940 3,437
Loss on the extinguishment of debt, net 5,053  
Impairment loss 40,296 18,236
Gain on the sale of real estate, net (42,369) (286)
Loss on operating lease and other receivables 957 1,571
(Income) loss from investments, net 270 (697)
Return on capital from unconsolidated real estate ventures 864 1,680
Other non-cash items 2,148 2,515
Changes in operating assets and liabilities:    
Tenant and other receivables 1,104 11,246
Other assets, net (1,915) 1,225
Accounts payable and accrued expenses (12,213) (19,575)
Other liabilities, net (143) (4,576)
Net cash provided by operating activities 31,752 60,813
INVESTING ACTIVITIES    
Development costs, construction in progress and real estate additions (62,417) (113,437)
Acquisition of real estate (42,713)  
Proceeds from the sale of real estate 381,607 12,410
Proceeds from derivative financial instruments 4,967 2,941
Payments on derivative financial instruments (7,995)  
Distributions of capital from unconsolidated real estate ventures and other investments 701 163,875
Investments in unconsolidated real estate ventures and other investments (3,426) (3,797)
Net cash provided by investing activities 270,724 61,992
FINANCING ACTIVITIES    
Borrowings under mortgage loans 275,027 89,578
Borrowings under revolving credit facility 631,000 173,000
Repayments of mortgage loans (505,897) (1,560)
Repayments of revolving credit facility (490,000) (195,000)
Proceeds from derivative financial instruments 7,835  
Payments on derivative financial instruments (2,161) (2,941)
Debt issuance and modification costs (5,207) (49)
Acquisition of noncontrolling interests   (26,569)
Proceeds from common shares issued pursuant to ESPP 487 591
Common shares repurchased (372,848) (116,358)
Dividends paid to common shareholders (27,221) (32,171)
Distributions to redeemable noncontrolling interests (5,721) (5,840)
Proceeds from the sale of interest in consolidated real estate venture 100,000  
Distributions to noncontrolling interests   (25)
Net cash used in financing activities (394,706) (117,344)
Net increase (decrease) in cash and cash equivalents, and restricted cash (92,230) 5,461
Cash and cash equivalents, and restricted cash, beginning of period 183,192 200,441
Cash and cash equivalents, and restricted cash, end of period 90,962 205,902
SUPPLEMENTAL DISCLOSURE OF CASH FLOW AND NON-CASH INFORMATION    
Cash paid for interest (net of capitalized interest of $3,128 and $4,211 in 2025 and 2024) 62,995 52,747
Accrued capital expenditures included in accounts payable and accrued expenses 36,479 64,521
Write-off of fully depreciated assets 17,805 18,635
Redemption of OP Units for common shares 10,854 10,216
Redeemable noncontrolling interests redemption value adjustment 32,624 (5,311)
Derecognition of operating lease right-of-use asset   13,724
Derecognition of liabilities related to operating lease right-of-use asset   13,724
Cash paid for amounts included in the measurement of lease liabilities for operating leases $ 3,329 $ 6,331