v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net loss $ (43,934) $ (205,532)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 257,051 298,717
Other amortization 23,377 23,901
Share-based compensation 9,843 11,802
Amortization of straight-line rent receivable (lessor) (19,698) (15,613)
Amortization of straight-line rent on operating leases (lessee) 881 1,724
Gain on sales of real estate properties and other assets (14,490) (22,907)
Loss on extinguishment of debt 1,718 0
Impairment of real estate properties and credit loss reserves 41,757 154,429
Equity income from unconsolidated joint ventures (3,425) (159)
Distributions of earnings from unconsolidated joint ventures 10,263 10,829
Non-cash interest from financing and notes receivable (818) (395)
Changes in operating assets and liabilities:    
Other assets, including right-of-use-assets (30,520) (17,101)
Accounts payable and accrued liabilities (25,899) (31,051)
Other liabilities (11,043) 2,359
Net cash provided by operating activities 195,063 211,003
INVESTING ACTIVITIES    
Acquisitions of real estate (6,611) 0
Development of real estate 0 (8,174)
Additional long-lived assets (130,948) (154,781)
Funding of mortgages and notes receivable (1,564) (2,799)
Investments in unconsolidated joint ventures (19,030) (978)
Investment in financing receivable 492 (194)
Proceeds from sales of real estate properties and additional long-lived assets 43,752 69,805
Distributions in excess of earnings from unconsolidated joint ventures 8,766 0
Proceeds from insurance recoveries 6,126 2,000
Proceeds from notes receivable repayments 46,688 53,190
Net cash used in investing activities (52,329) (41,931)
FINANCING ACTIVITIES    
Borrowings on unsecured credit facility 265,500 567,000
Repayments on unsecured credit facility (385,500) (272,000)
Net borrowings on commercial paper program 275,515 0
Repayment on term loans 0 (35,140)
Borrowings of notes and bonds payable 700,000 0
Redemption and repayments of notes and bonds payable (605,737) (250,692)
Dividends paid (166,147) (217,756)
Common stock redemptions (2,772) (713)
Common stock repurchases (175,000) 0
Payments made for capped call premiums (28,875) 0
Distributions to non-controlling interest holders (2,114) (2,653)
Redemption of non-controlling interest (1,043) (330)
Debt issuance and assumption costs (23,704) 0
Payments made on finance leases (42) (46)
Net cash used in financing activities (149,919) (212,330)
Increase (decrease) in cash and cash equivalents (7,185) (43,258)
Cash and cash equivalents cash at beginning of period 26,172 68,916
Cash and cash equivalents at end of period, including held for sale 18,987 25,658
Cash and cash equivalents held for sale 0 (151)
Cash and cash equivalents at end of period 18,987 25,507
Supplemental Cash Flow Information    
Interest paid 77,468 90,251
Mortgage notes receivable taken in connection with sale of real estate 0 5,400
Invoices accrued for construction, tenant improvements and other capitalized costs 31,512 47,815
Capitalized interest $ 6,937 $ 4,608