v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 23,589 $ 27,029
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on disposition of property 0 (120)
Depreciation and amortization of deferred leasing costs 31,954 28,621
Amortization of deferred debt costs 1,735 1,252
Non-cash share-based compensation costs 1,176 908
Credit losses on operating lease receivables, net 567 606
Increase in accounts receivable and accrued income (2,560) (2,115)
Additions to deferred leasing costs (2,076) (2,652)
Decrease in other assets 6,910 5,231
Increase in accounts payable, accrued expenses, and other liabilities 2,774 3,527
Decrease in deferred income (4,009) (5,309)
Net cash provided by operating activities 60,060 56,978
Cash flows from investing activities:    
Acquisitions of real estate investments 0 (31)
Additions to real estate investments (8,176) (19,684)
Additions to development and redevelopment projects (7,880) (34,973)
Proceeds from disposition of property 0 120
Net cash used in investing activities (16,056) (54,568)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 153,500 0
Repayments on mortgage notes payable (108,628) (17,590)
Proceeds from revolving credit facility 47,000 55,000
Repayments on revolving credit facility (107,000) (41,000)
Proceeds from construction loans payable 16,945 34,437
Additions to deferred debt costs (1,212) (125)
Proceeds from the issuance of:    
Common stock 2,894 1,129
Partnership units 11,539 7,285
Distributions to:    
Common stockholders (28,804) (28,550)
Noncontrolling interests (13,190) (12,395)
Net cash used in financing activities (32,553) (7,406)
Net increase (decrease) in cash, cash equivalents and restricted cash 11,451 (4,996)
Cash, cash equivalents and restricted cash, beginning of period 8,741 10,299
Cash, cash equivalents and restricted cash, end of period 20,192 5,303
Series D preferred stockholders    
Distributions to:    
Preferred stockholders (2,297) (2,297)
Series E preferred stockholders    
Distributions to:    
Preferred stockholders $ (3,300) $ (3,300)