v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net (loss) income $ (14,673) $ 43,681
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization of real estate assets and leasing costs 92,885 85,735
Depreciation of non-real estate furniture, fixtures, and equipment 1,459 1,384
Revenues deemed uncollectible 358 621
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements (3,218) (3,688)
Straight-line rents, net (701) 4,613
Non-cash amortization of net below-market rents (641) (846)
Non-cash amortization of deferred financing costs and debt discounts 1,662 1,219
Non-cash amortization of share-based compensation awards 4,869 3,927
Amortization of right of use ground lease assets 282 273
Gains on sales of depreciable operating properties (23,525) 0
Impairment of real estate assets 61,778 0
Net change in other operating assets 131 (21,886)
Net change in other operating liabilities 30,029 21,888
Net cash provided by operating activities 150,695 136,921
Cash flows from investing activities:    
Expenditures for development and redevelopment properties and undeveloped land (102,647) (55,347)
Expenditures for operating properties and other capital assets (29,945) (21,313)
Net proceeds received from dispositions of real estate assets 141,440 0
Non-refundable deposits received for future dispositions 6,200 0
Net cash provided by (used in) investing activities 15,048 (76,660)
Cash flows from financing activities:    
Distributions to noncontrolling interests in consolidated property partnerships (6,380) (7,226)
Dividends and distributions paid to common stockholders and common unitholders (64,534) (64,366)
Taxes paid upon net share settlement of restricted share units (6,970) (6,009)
Principal payments and repayments of secured debt (1,600) (1,539)
Repurchase of common stock (72,671) 0
Financing costs 0 (100)
Net cash used in financing activities (152,155) (79,240)
Net increase (decrease) in cash and cash equivalents 13,588 (18,979)
Cash and cash equivalents, beginning of period 179,316 165,690
Cash and cash equivalents, end of period $ 192,904 $ 146,711