v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 120,222 $ (186,479)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 155,795 162,138
Gain on dispositions of real estate, net (241,400) (3,282)
Loss on extinguishment of debt 2,030 16,670
Income tax expense 264 854
Amortization of debt issuance costs 13,878 2,521
Unrealized loss (gain) on derivative instruments 17,285 (12,056)
Other, net 9,140 33,125
Net changes in operating assets and operating liabilities (10,380) 3,089
Net cash provided by operating activities 66,834 16,580
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate 0 (246,615)
Capital expenditures (58,880) (59,320)
Distributions from unconsolidated joint ventures 0 27,470
Proceeds from dispositions of real estate 262,810 0
Purchase of corporate assets (6,858) (4,509)
Other investing activities, net 512 (3,873)
Net cash provided by (used in) investing activities 197,584 (286,847)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from non-recourse property debt 71,720 3,322,966
Principal repayments of non-recourse property debt (315,884) (538,276)
Net (repayments of) borrowings on revolving credit facility 0 (115,000)
Repayments of term loans 0 (475,000)
Repayments of unsecured notes payable 0 (400,000)
Merger-related distributions 0 (1,187,907)
Redemption of common and preferred OP units 0 (24,595)
Payment of distributions to General Partner and Special Limited Partner (189,385) (65,105)
Payment of distributions to Limited Partners (8,618) (4,676)
Payment of distributions to noncontrolling interests (8,921) (6,878)
Redemption of common and preferred units (2,861) (2,000)
Other financing activities, net (2,780) (20,237)
Net cash provided by (used in) financing activities (456,729) 483,292
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (192,311) 213,025
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 644,459 117,491
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 452,148 $ 330,516