v3.26.1
Condensed 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 (loss) $ 30,271 $ 89,001
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:    
Depreciation and amortization 115,635 72,474
Gain (loss) on extinguishment of financing obligations, net (8,277) 0
Gain on sale of real estate (61,877) (149,639)
Foreign currency (gains) losses (4,448) (11,670)
(Gain) loss on derivative instruments (6,776) 1,807
(Gain) loss on investments in real estate-related securities (19,269) 5,267
Changes in assets and liabilities:    
Change in other assets (808) (11,500)
Change in tenant and other receivables (5,281) (2,584)
Change in deferred leasing costs (14,774) (28,211)
Change in accounts payable and accrued expenses 4,686 44,517
Change in other liabilities (3,828) (410)
Change in due to affiliates (16,743) 8,426
Net cash from (used in) operating activities 8,511 17,478
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investments in acquired properties and lease intangibles (221,991) (419,659)
Capital expenditures at operating properties (28,074) (31,537)
Proceeds from sale of real estate 151,183 209,332
Purchases of real estate-related securities (38,303) (47,622)
Proceeds from settlement of real estate-related securities 39,041 38,448
Proceeds from settlement of interest rate contracts 12,775 13,848
Payments related to interest rate contracts (4,879) (11,379)
Net cash from (used in) investing activities (90,248) (248,569)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common shares 251,188 204,291
Redemption of common shares (115,723) (122,155)
Payment of offering costs (3,897) (503)
Payment of selling commissions, dealer manager fees and distribution and stockholder servicing fees (4,699) (5,861)
Distributions paid to stockholders and noncontrolling interests (44,047) (37,901)
Proceeds from financing obligations 415,603 354,580
Payments on financing obligations (1,617) (924)
Proceeds from notes payable 98,963 1,153,894
Payments on notes payable (404,642) (1,030,394)
Change in security deposit liability 219 514
Deferred financing costs paid (1,058) (17,833)
Net cash from (used in) financing activities 190,290 497,708
Effect of exchange rate changes on cash, restricted cash and cash equivalents (1,711) 17,256
Net change in cash, restricted cash and cash equivalents 106,842 283,873
Cash, restricted cash and cash equivalents, beginning of period 181,785 141,196
Cash, restricted cash and cash equivalents, end of period $ 288,627 $ 425,069