v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 147,120 $ 70,373
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of real estate assets 200,131 200,908
Depreciation and amortization of corporate assets 1,098 1,172
Net amortization of above- and below-market leases (7,690) (6,276)
Amortization of deferred financing expenses 2,427 3,651
Amortization of debt and derivative adjustments 2,068 1,841
Loss on extinguishment or modification of debt, net 1,105 1
Gain on disposal of property, net (66,812) (9,798)
Straight-line rent, net (9,468) (7,842)
Share-based compensation 9,280 8,534
Return on investment in unconsolidated joint ventures 526 505
Other (83) (615)
Changes in operating assets and liabilities:    
Other assets, net (22,606) (18,445)
Accounts payable and other liabilities 1,955 8,076
Net cash provided by operating activities 259,051 252,085
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions, net (454,072) (282,038)
Capital expenditures (87,855) (95,712)
Proceeds from sale of real estate, net 167,862 15,154
Proceeds from secured loan receivable 17,395 0
Investment in unconsolidated joint ventures (6,079) (6,987)
Return of investment in unconsolidated joint ventures 1,139 1,778
Investment in marketable securities (5,432) (8,158)
Proceeds from sale of marketable securities 963 0
Insurance proceeds for property damage claims 941 653
Net cash used in investing activities (365,138) (375,310)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 92,625 0
Payment of offering costs (1,265) 0
Proceeds from revolving credit facility 620,000 540,000
Payments on revolving credit facility (487,000) (577,000)
Proceeds from notes and loans payable, net 346,500 346,164
Payments on loans and mortgages payable (337,398) (45,077)
Distributions paid (138,752) (129,860)
Distributions to noncontrolling interests (14,014) (13,840)
Net cash provided by financing activities 80,696 120,387
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (25,391) (2,838)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:    
Beginning of period 43,312 8,649
End of period 17,921 5,811
RECONCILIATION TO CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 8,903 4,076
Restricted cash 9,018 1,735
Cash, cash equivalents, and restricted cash at end of period 17,921 5,811
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 99,601 81,497
SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES:    
Right-of-use (“ROU”) assets obtained in exchange for new lease liabilities 0 1,089
Secured loan receivable 0 17,395
Accrued capital expenditures 10,530 12,056
Change in distributions payable (13,606) (12,803)
Change in distributions payable - noncontrolling interests $ (1,514) $ (1,403)