v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flow from operating activities:    
Net (loss) income $ (5,760) $ 43,431
Adjustments to reconcile net (loss) income to net cash flow (used for) provided by operating activities:    
Depreciation and amortization 11,343 36,941
Stock-based compensation 878 1,044
Amortization and write-off of debt issuance costs, commitment fees and fair market value of debt adjustments 0 3,044
Equity in net loss of joint ventures 748 528
Gain on sale of joint venture interests (19,989) 0
Gain on disposition of real estate, net (13,663) (162,666)
Impairment charges 20,450 106,570
Loss on abandoned tenant lease costs 0 911
Net change in accounts receivable 3,137 7,909
Net change in accounts payable and accrued expenses (17,941) (2,291)
Net change in other operating assets and liabilities 233 (7,337)
Total adjustments (14,804) (15,347)
Net cash flow (used for) provided by operating activities (20,564) 28,084
Cash flow from investing activities:    
Real estate developed and improvements to operating real estate (4,604) (9,325)
Proceeds from disposition of real estate 135,387 357,546
Proceeds from disposition of joint venture 20,713 0
Distributions from unconsolidated joint venture 800 500
Equity contributions to joint ventures (22) (9)
Net cash flow provided by investing activities 152,274 348,712
Cash flow from financing activities:    
Repayment of mortgage debt 0 (55,481)
Payment of debt issuance costs 0 (6)
Payment of debt extinguishment costs 0 (228)
Repurchase of common shares in conjunction with equity award plans (39) (93)
Dividends paid (52,691) (250,336)
Net cash flow used for financing activities (52,730) (306,144)
Net increase in cash, cash equivalents and restricted cash 78,980 70,652
Cash, cash equivalents and restricted cash, beginning of period 122,815 67,666
Cash, cash equivalents and restricted cash, end of period $ 201,795 $ 138,318