Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-12-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 22,517,000 | 65,542,000 | 40,304,000 | 46,695,000 | 29,788,000 | 23,975,000 | 26,254,000 | 17,156,000 | -15,101,000 | 21,188,000 | -9,487,000 | -84,948,000 | -50,064,000 | 16,805,000 | 40,602,000 | -24,353,000 | 10,223,000 | -132,573,000 | 33,447,000 | 36,460,000 | 29,623,000 | 35,217,000 | 39,741,000 | 23,286,000 | 83,683,000 | -77,692,000 | -19,383,000 | 35,228,000 | 200,789,000 | 62,481,000 | 103,969,000 | 15,069,000 | 20,536,000 | 18,791,000 | 23,170,000 | 25,312,000 | 37,466,000 | -15,743,000 | 25,084,000 | 18,034,000 | 16,826,000 | 19,439,000 | 22,236,000 | 17,198,000 | 14,796,000 | -7,321,000 | 12,999,000 | 11,821,000 | -662,000 | 9,557,000 | 3,959,000 | 5,226,000 | 5,923,000 | 4,405,000 | 7,164,000 | 2,343,000 | 2,087,000 | 1,248,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 48,511,000 | 43,586,000 | 43,494,000 | 42,308,000 | 42,720,000 | 41,681,000 | 42,914,000 | 42,876,000 | 43,242,000 | 44,142,000 | 52,827,000 | 49,927,000 | 47,427,000 | 45,172,000 | 45,256,000 | 45,079,000 | 45,046,000 | 44,491,000 | 44,375,000 | 44,209,000 | 44,202,000 | 44,168,000 | 44,032,000 | 43,092,000 | 49,476,000 | 44,949,000 | 48,078,000 | 48,468,000 | 46,828,000 | 48,005,000 | 51,592,000 | 25,933,000 | 17,220,000 | 19,137,000 | 17,199,000 | 17,102,000 | 16,405,000 | 17,766,000 | 18,126,000 | 16,306,000 | 14,497,000 | 14,150,000 | 14,465,000 | 9,762,000 | 9,755,000 | 9,350,000 | 8,555,000 | 8,258,000 | 8,222,000 | 8,246,000 | 7,907,000 | 7,496,000 | 7,557,000 | 7,303,000 | 7,364,000 | 6,850,000 | 6,291,000 | 6,086,000 |
non-cash rental and related revenues | 7,151,000 | -3,903,000 | -2,428,000 | -1,627,000 | -433,000 | -2,387,000 | 591,000 | -1,918,000 | -1,312,000 | -3,071,000 | -2,398,000 | -2,787,000 | 13,031,000 | -3,587,000 | -4,474,000 | 15,710,000 | 20,740,000 | -4,914,000 | -5,713,000 | 7,907,000 | -6,202,000 | -365,000 | ||||||||||||||||||||||||||||||||||||
non-cash interest income | 0 | 3,000 | 4,000 | 5,000 | 12,000 | 5,000 | 7,000 | 8,000 | 8,000 | 4,000 | -392,000 | -602,000 | -589,000 | -547,000 | -547,000 | -544,000 | -530,000 | -502,000 | -412,000 | -608,000 | -574,000 | -561,000 | ||||||||||||||||||||||||||||||||||||
non-cash interest expense | 2,153,000 | 1,726,000 | 1,729,000 | 1,729,000 | 2,611,000 | 3,068,000 | 3,071,000 | 3,086,000 | 3,088,000 | 3,077,000 | 3,014,000 | 2,794,000 | 2,798,000 | 2,804,000 | 2,698,000 | 2,979,000 | 1,744,000 | 1,749,000 | 1,896,000 | 2,069,000 | 2,225,000 | 2,233,000 | 2,234,000 | 2,523,000 | 2,762,000 | 2,561,000 | 2,589,000 | 2,551,000 | 2,516,000 | 2,481,000 | ||||||||||||||||||||||||||||
stock-based compensation expense | 2,875,000 | 2,704,000 | 2,711,000 | 2,539,000 | 2,586,000 | 1,341,000 | 2,521,000 | 2,449,000 | 2,235,000 | 1,004,000 | 2,229,000 | 2,086,000 | 2,117,000 | 794,000 | 2,456,000 | 927,000 | 2,428,000 | 2,271,000 | 2,288,000 | 916,000 | 2,375,000 | 2,360,000 | 990,000 | 3,259,000 | 2,795,000 | 2,775,000 | 1,373,000 | 2,436,000 | 2,704,000 | 1,135,000 | 30,000 | 4,010,000 | 1,731,000 | 2,588,000 | 1,359,000 | 2,485,000 | 1,834,000 | 1,818,000 | 734,000 | 717,000 | 1,754,000 | 2,918,000 | 3,514,000 | 1,545,000 | 2,279,000 | 2,513,000 | 2,610,000 | 1,276,000 | 1,459,000 | 2,474,000 | 2,530,000 | 1,907,000 | 1,639,000 | 2,203,000 | 1,351,000 | 771,000 | 1,336,000 | 1,142,000 |
loss on extinguishment of debt | 0 | 0 | 0 | 1,541,000 | 0 | 140,000 | 0 | 271,000 | 32,862,000 | 913,000 | 54,000 | 793,000 | 139,000 | 5,577,000 | 644,000 | 0 | 0 | 0 | 0 | 556,000 | 0 | 158,000 | 80,000 | 1,338,000 | 350,000 | |||||||||||||||||||||||||||||||||
recovery of loan losses | -240,000 | -227,000 | -173,000 | -137,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (gain) loss on sales of real estate | -1,313,000 | -47,415,000 | -582,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment of real estate | 2,571,000 | 0 | 0 | 15,335,000 | 3,137,000 | 7,268,000 | 0 | 0 | 7,064,000 | 21,440,000 | 60,857,000 | 9,004,000 | 2,717,000 | 13,966,000 | 2,002,000 | 103,134,000 | 0 | 0 | 881,000 | 532,000 | 0 | 0 | 0 | 29,811,000 | ||||||||||||||||||||||||||||||||||
(income) income from unconsolidated joint ventures | -1,226,000 | -832,000 | -218,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions of earnings from unconsolidated joint ventures | 1,895,000 | 1,654,000 | 2,368,000 | 1,693,000 | 1,095,000 | 1,181,000 | 1,478,000 | 1,764,000 | 593,000 | 745,000 | 367,000 | |||||||||||||||||||||||||||||||||||||||||||||||
other non-cash items | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accounts receivable, prepaid expenses and other assets | -2,262,000 | -4,045,000 | -2,822,000 | -1,873,000 | -4,883,000 | -2,418,000 | -6,288,000 | -418,000 | -4,383,000 | -3,495,000 | -2,782,000 | -812,000 | 443,000 | -617,000 | -5,457,000 | -4,839,000 | 15,423,000 | 512,000 | -2,873,000 | -2,146,000 | 5,518,000 | -6,895,000 | -2,387,000 | -1,963,000 | 4,635,000 | -9,924,000 | -2,722,000 | -1,901,000 | -472,000 | -1,658,000 | -10,982,000 | |||||||||||||||||||||||||||
accounts payable and accrued liabilities | 10,435,000 | -2,188,000 | -4,706,000 | -4,874,000 | 18,771,000 | 364,000 | -21,348,000 | 5,331,000 | 11,032,000 | -2,180,000 | -5,839,000 | -15,411,000 | 28,056,000 | -4,927,000 | -20,968,000 | 19,882,000 | 6,374,000 | -785,000 | -10,992,000 | 6,086,000 | 1,249,000 | -9,929,000 | 6,899,000 | 1,850,000 | -5,354,000 | -17,265,000 | 3,426,000 | -23,177,000 | 7,757,000 | 249,000 | -13,687,000 | -53,897,000 | 4,932,000 | -4,605,000 | 5,245,000 | 1,893,000 | 9,754,000 | -5,430,000 | 9,387,000 | -3,424,000 | 6,002,000 | -4,988,000 | -9,972,000 | 19,295,000 | 1,226,000 | 2,086,000 | -4,983,000 | 8,536,000 | -4,636,000 | 6,513,000 | -5,890,000 | 9,125,000 | -5,967,000 | 4,053,000 | -2,165,000 | 7,375,000 | -3,621,000 | 4,106,000 |
net cash from operating activities | 99,964,000 | 80,959,000 | 80,263,000 | 79,968,000 | 97,650,000 | 80,128,000 | 52,795,000 | 78,737,000 | 83,216,000 | 70,329,000 | 68,289,000 | 67,587,000 | 108,463,000 | 76,569,000 | 63,114,000 | 97,931,000 | 106,193,000 | 83,735,000 | 68,531,000 | 96,850,000 | 93,786,000 | 74,819,000 | 95,494,000 | 85,103,000 | 137,919,000 | 53,959,000 | 75,519,000 | 71,471,000 | 109,906,000 | 101,647,000 | 83,715,000 | -4,100,000 | 22,433,000 | 31,438,000 | 42,923,000 | 39,322,000 | 69,768,000 | 24,726,000 | 41,986,000 | 27,808,000 | 26,606,000 | 24,701,000 | 14,098,000 | 42,318,000 | 27,714,000 | 1,207,000 | 12,888,000 | 26,225,000 | 1,383,000 | 21,603,000 | 8,350,000 | 23,815,000 | 7,623,000 | 16,464,000 | 10,196,000 | 16,581,000 | 5,470,000 | 12,458,000 |
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of real estate and lease intangibles | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
origination and fundings of loans receivable | -2,600,000 | -1,400,000 | -1,710,000 | -105,000 | -1,788,000 | -19,650,000 | -102,000 | -1,804,000 | -564,000 | -7,250,000 | -1,800,000 | -19,312,000 | 0 | -715,000 | -936,000 | -3,624,000 | -618,000 | -6,047,000 | -2,776,000 | -9,283,000 | -13,291,000 | -14,925,000 | -13,232,000 | -11,597,000 | -4,715,000 | -419,000 | -508,000 | -197,000 | -3,195,000 | -433,000 | -5,850,000 | -23,480,000 | -4,470,000 | -14,434,000 | -7,303,000 | -7,141,000 | -20,883,000 | -18,945,000 | -19,428,000 | |||||||||||||||||||
origination and fundings of preferred equity investments | 0 | 0 | -9,000 | -303,000 | -1,508,000 | -14,000 | -1,007,000 | -8,000 | -339,000 | -4,292,000 | -6,384,000 | -2,208,000 | -823,000 | -916,000 | -4,074,000 | -4,908,000 | -759,000 | -28,000 | -4,340,000 | -17,000 | -928,000 | -36,000 | -2,637,000 | -25,000 | -51,000 | -503,000 | -673,000 | -5,188,000 | -984,000 | |||||||||||||||||||||||||||||
additions to real estate | -10,614,000 | -5,786,000 | -7,783,000 | -15,523,000 | -13,829,000 | -12,425,000 | -12,935,000 | -21,061,000 | -25,799,000 | -18,455,000 | -19,540,000 | -20,664,000 | -14,314,000 | -8,692,000 | -10,803,000 | -13,373,000 | -7,542,000 | -10,903,000 | -10,833,000 | -12,549,000 | -7,911,000 | -11,956,000 | -9,466,000 | -7,389,000 | -3,524,000 | -5,072,000 | -6,002,000 | -4,878,000 | -5,278,000 | -11,539,000 | -3,721,000 | -1,939,000 | -774,000 | -520,000 | -102,000 | -27,000 | -400,000 | -474,000 | -2,093,000 | -563,000 | -358,000 | -675,000 | -320,000 | -368,000 | -727,000 | -56,000 | -376,000 | -162,000 | -7,000 | -309,000 | -474,000 | -256,000 | 0 | 0 | -86,000 | |||
escrow deposits for potential investments | 56,000 | 0 | 2,381,000 | -3,217,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayments of loans receivable | 8,394,000 | 5,919,000 | 1,129,000 | 775,000 | 1,587,000 | 798,000 | 391,000 | 600,000 | 612,000 | 1,918,000 | 6,144,000 | 387,000 | 419,000 | 3,770,000 | 696,000 | 517,000 | 1,297,000 | 507,000 | 628,000 | 1,485,000 | 599,000 | 1,011,000 | 4,606,000 | 3,659,000 | 4,851,000 | 5,251,000 | 3,507,000 | 9,395,000 | 10,082,000 | 28,805,000 | ||||||||||||||||||||||||||||
repayments of preferred equity investments | 608,000 | 556,000 | 813,000 | 622,000 | 595,000 | 4,110,000 | 617,000 | 632,000 | 698,000 | 2,697,000 | 1,433,000 | 1,203,000 | 2,840,000 | 604,000 | 729,000 | 609,000 | 170,000 | 212,000 | 301,000 | 335,000 | 5,000 | 3,059,000 | 1,407,000 | 1,209,000 | 376,000 | 2,087,000 | 379,000 | 6,116,000 | 141,000 | 234,000 | 473,000 | |||||||||||||||||||||||||||
investment in unconsolidated joint ventures | 0 | -211,000 | -1,030,000 | -541,000 | -373,000 | -156,000 | -188,000 | -438,000 | 0 | 0 | -4,797,000 | |||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from the sales of real estate | 39,514,000 | 55,458,000 | 34,383,000 | -600,000 | 79,318,000 | 16,645,000 | 152,259,000 | 24,488,000 | 22,813,000 | 85,657,000 | 6,685,000 | 5,179,000 | 3,202,000 | -762,000 | 3,244,000 | 6,272,000 | -1,021,000 | 315,879,000 | 6,857,000 | 12,663,000 | 271,458,000 | 6,743,000 | 5,624,000 | |||||||||||||||||||||||||||||||||||
proceeds from net investment hedges | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
insurance proceeds | 229,000 | -200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions in excess of earnings from unconsolidated joint ventures | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | -199,838,000 | -45,132,000 | -16,444,000 | 18,560,000 | -57,030,000 | -57,307,000 | -13,224,000 | -61,779,000 | 59,927,000 | -8,193,000 | 113,175,000 | -31,160,000 | -56,989,000 | -90,857,000 | -37,242,000 | -258,830,000 | -158,000 | -41,852,000 | -35,356,000 | -31,550,000 | -29,144,000 | -69,824,000 | -35,701,000 | -19,337,000 | 311,535,000 | 6,347,000 | 57,759,000 | -19,354,000 | 219,480,000 | -516,379,000 | 63,050,000 | -296,781,000 | -5,380,000 | -961,000 | -31,190,000 | -82,467,000 | 254,056,000 | 1,964,000 | -86,545,000 | -82,021,000 | -314,423,000 | -6,237,000 | -33,173,000 | -629,296,000 | -35,864,000 | -128,139,000 | -260,137,000 | -2,791,000 | -19,270,000 | -15,311,000 | -97,450,000 | -43,744,000 | -37,247,000 | -40,209,000 | -11,452,000 | -113,700,000 | -74,019,000 | -5,415,000 |
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net borrowings from revolving credit facility | 119,661,000 | 56,693,000 | 5,000,000 | 125,776,000 | 16,577,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments on senior unsecured notes | -200,000,000 | 0 | 0 | 0 | 0 | -211,250,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from term loans | 0 | 0 | 2,000 | 12,186,000 | 0 | 0 | 0 | 69,360,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments on secured debt | -524,000 | -521,000 | -517,000 | -513,000 | -510,000 | -507,000 | -503,000 | -500,000 | -496,000 | -493,000 | -490,000 | -486,000 | -483,000 | -480,000 | -16,067,000 | -10,476,000 | -739,000 | -737,000 | -709,000 | -727,000 | -792,000 | -877,000 | -870,000 | -863,000 | -854,000 | -849,000 | -137,136,000 | -1,074,000 | -1,067,000 | -1,061,000 | -1,051,000 | |||||||||||||||||||||||||||
payments of deferred financing costs | -4,325,000 | 0 | -80,000 | -14,000 | 0 | 0 | -80,000 | -7,000 | -7,000 | -1,000 | -18,127,000 | -14,000 | 0 | 0 | -6,000 | -1,873,000 | -7,437,000 | -97,000 | -7,000 | -715,000 | -1,597,000 | -9,588,000 | -4,407,000 | -6,000 | -340,000 | 0 | -6,000 | -6,000 | -21,000 | -15,192,000 | -15,000 | -109,000 | -4,000 | -2,000 | -46,000 | -5,885,000 | -138,000 | -480,000 | -704,000 | -130,000 | -3,657,000 | -5,339,000 | -262,000 | -9,873,000 | -356,000 | -3,220,000 | -5,306,000 | -72,000 | 245,000 | -3,610,000 | -979,000 | -2,456,000 | -182,000 | -225,000 | 36,000 | -306,000 | ||
payments related to extinguishment of debt | -3,605,000 | -2,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
contributions from noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of common stock | 164,139,000 | 29,602,000 | -5,391,000 | 14,759,000 | 34,959,000 | 39,009,000 | -2,606,000 | -488,000 | -41,000 | -306,000 | -1,847,000 | -416,000 | -591,000 | -55,000 | -3,748,000 | 136,525,000 | -510,000 | 85,044,000 | 87,654,000 | 19,101,000 | -70,000 | 1,930,000 | 247,298,000 | 90,455,000 | 213,898,000 | -2,323,000 | 0 | 0 | 0 | -499,000 | 47,774,000 | 322,250,000 | 0 | -3,224,000 | 0 | 0 | -15,000 | -1,274,000 | -214,000 | -445,000 | 147,649,000 | -7,587,000 | 280,322,000 | 9,926,000 | 220,547,000 | -648,000 | 37,467,000 | -99,000 | -317,000 | -2,534,000 | -91,000 | 0 | -189,000 | 162,884,000 | ||||
dividends paid on common stock | -71,938,000 | -71,381,000 | -71,373,000 | -70,976,000 | -70,280,000 | -69,450,000 | -69,444,000 | -69,368,000 | -69,368,000 | -69,360,000 | -69,351,000 | -69,296,000 | -69,296,000 | -69,290,000 | -69,275,000 | -68,608,000 | -66,261,000 | -64,829,000 | -63,221,000 | -61,679,000 | -61,678,000 | -92,390,000 | ||||||||||||||||||||||||||||||||||||
net cash from financing activities | 206,169,000 | 36,725,000 | -101,242,000 | -100,964,000 | -13,955,000 | -46,413,000 | -20,229,000 | -9,363,000 | -136,393,000 | -68,473,000 | -196,071,000 | -13,519,000 | -91,620,000 | 55,951,000 | -112,519,000 | -274,628,000 | 371,573,000 | 2,471,000 | -69,276,000 | -60,402,000 | -90,547,000 | 8,948,000 | -50,447,000 | -83,489,000 | -424,770,000 | -87,474,000 | -212,753,000 | -138,351,000 | -161,805,000 | -114,392,000 | 341,014,000 | 317,891,000 | -16,741,000 | -43,347,000 | -4,997,000 | -41,693,000 | -229,086,000 | -25,122,000 | 20,601,000 | 79,690,000 | 289,873,000 | -76,086,000 | 55,389,000 | 597,372,000 | 18,949,000 | 126,910,000 | 154,916,000 | -19,563,000 | 57,092,000 | 30,172,000 | 75,724,000 | 47,296,000 | 30,059,000 | -15,830,000 | -12,911,000 | 150,082,000 | -8,207,000 | -1,066,000 |
net increase in cash, cash equivalents and restricted cash | 106,295,000 | 72,552,000 | -37,423,000 | -2,436,000 | 19,342,000 | 22,908,000 | -40,146,000 | -435,527,000 | 477,608,000 | 44,354,000 | -36,101,000 | 13,943,000 | -79,475,000 | |||||||||||||||||||||||||||||||||||||||||||||
effect of foreign currency translation on cash, cash equivalents and restricted cash | -429,000 | 203,000 | -19,000 | -201,000 | 2,000 | -29,000 | -131,000 | 266,000 | -272,000 | 33,000 | -641,000 | -124,000 | -227,000 | 579,000 | 40,000 | -5,000 | -125,000 | 94,000 | 65,000 | 146,000 | 284,000 | -660,000 | 135,000 | -89,000 | 151,000 | 149,000 | -383,000 | 96,000 | -97,000 | -155,000 | ||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 66,339,000 | 0 | 0 | 0 | 46,719,000 | 0 | 0 | 0 | 53,932,000 | 0 | 0 | 0 | 115,886,000 | 0 | 0 | 0 | 65,523,000 | 0 | 0 | 49,143,000 | 0 | 0 | 0 | 59,658,000 | 0 | 0 | 0 | 587,449,000 | ||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, end of period | 105,866,000 | 72,755,000 | 28,897,000 | -2,637,000 | 26,667,000 | -23,621,000 | 65,930,000 | 7,861,000 | 6,478,000 | -6,304,000 | 38,684,000 | 22,784,000 | -40,373,000 | 42,242,000 | 29,279,000 | -435,532,000 | 477,483,000 | 44,448,000 | 29,487,000 | 5,044,000 | -25,621,000 | 62,426,000 | 9,481,000 | -17,812,000 | 24,835,000 | 32,639,000 | -79,858,000 | -86,138,000 | 167,484,000 | 58,170,000 | ||||||||||||||||||||||||||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest paid | 23,073,000 | 29,514,000 | 20,233,000 | 20,785,000 | 30,352,000 | 20,495,000 | 20,320,000 | 30,273,000 | 22,318,000 | 18,810,000 | 31,585,000 | 18,383,000 | 20,393,000 | 24,038,000 | 21,620,000 | 20,328,000 | 26,141,000 | 21,526,000 | 25,599,000 | 32,436,000 | 42,195,000 | 43,726,000 | 25,170,000 | 42,623,000 | 19,892,000 | 10,817,000 | 18,127,000 | 10,225,000 | 18,428,000 | 11,122,000 | 19,459,000 | 10,470,000 | 17,964,000 | 8,680,000 | 16,761,000 | 7,763,000 | 11,407,000 | 8,079,000 | 7,219,000 | 16,604,000 | 2,098,000 | 16,775,000 | 3,064,000 | 15,497,000 | 2,439,000 | 12,537,000 | 2,140,000 | 11,533,000 | 2,548,000 | 12,029,000 | 2,447,000 | |||||||
net gain on sales of real estate | -14,085,000 | -655,000 | -2,715,000 | -1,084,000 | 19,000 | -14,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of real estate | -53,283,000 | -7,854,000 | -24,205,000 | -76,097,000 | -38,900,000 | 0 | 0 | -39,630,000 | -8,219,000 | -63,412,000 | 0 | -20,573,000 | -37,332,000 | -9,000 | -33,453,000 | -28,654,000 | 0 | -25,671,000 | -67,274,000 | -36,159,000 | -22,510,000 | -25,019,000 | -41,981,000 | -172,001,000 | -26,841,000 | -378,608,000 | ||||||||||||||||||||||||||||||||
net (repayments of) borrowings from revolving credit facility | -23,881,000 | 61,000,000 | -66,481,000 | 19,585,000 | -118,442,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(recovery of) benefit from loan losses | -125,000 | -148,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other-than-temporary impairment of unconsolidated joint ventures | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income from unconsolidated joint ventures | 96,000 | -214,000 | -80,000 | 595,000 | 761,000 | 645,000 | 653,000 | 838,000 | 30,539,000 | 4,384,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
deposits for potential sale of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from sales-type lease | 0 | 0 | 0 | 25,490,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
net borrowings from (repayments of) revolving credit facility | -44,220,000 | 21,876,000 | -15,465,000 | 52,404,000 | -17,000,000 | -28,000,000 | 101,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments on term loans | 0 | -23,750,000 | 0 | -40,000,000 | 0 | -345,000,000 | -17,000,000 | -93,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
payment of contingent consideration | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income on sales of real estate | 46,545,000 | 7,833,000 | 21,515,000 | 80,000 | 217,000 | 1,520,000 | 472,000 | 4,602,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in loans receivable and other investments due to acquisition of real estate | 0 | 0 | 4,644,000 | 8,688,000 | 0 | 5,623,000 | 0 | 36,823,000 | -16,092,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | 6,750,000 | -6,337,000 | -14,607,000 | -86,647,000 | 4,898,000 | -17,723,000 | 24,684,000 | -27,168,000 | 167,581,000 | -529,124,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
benefit from loan losses and other reserves | 429,000 | -208,000 | -270,000 | 475,000 | 2,045,000 | -26,000 | -109,000 | 2,025,000 | -90,000 | 129,000 | 667,000 | |||||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of senior unsecured notes | 0 | 341,740,000 | -2,961,000 | 149,250,000 | 0 | 0 | 350,000,000 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
benefit from (recovery of) loan losses and other reserves | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(recovery of) benefit from loan losses and other reserves | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other-than-temporary impairment of unconsolidated joint venture | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment in unconsolidated joint venture | -12,000 | 0 | 0 | 0 | -354,461,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
income from unconsolidated joint venture | 2,802,000 | 13,264,000 | 4,018,000 | 5,663,000 | 5,010,000 | -2,766,000 | 12,136,000 | 3,667,000 | 1,161,000 | 605,000 | 1,805,000 | 1,725,000 | 2,347,000 | -446,000 | ||||||||||||||||||||||||||||||||||||||||||||
non-cash lease termination income | -854,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions of earnings from unconsolidated joint venture | 4,235,000 | 3,043,000 | 4,040,000 | 3,703,000 | 3,278,000 | 3,847,000 | 3,037,000 | 2,416,000 | 2,884,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
distributions in excess of earnings from unconsolidated joint venture | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net repayments of revolving credit facility | -4,000,000 | -30,000,000 | -9,000,000 | -57,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions to noncontrolling interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
secured debt assumed by buyer in connection with sale of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
buyout of noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
secured debt assumed by buyers in connection with sales of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
benefit from doubtful accounts, straight-line rental income and loan losses | -219,000 | 57,000 | 193,000 | 1,207,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in fair value of contingent consideration | 126,000 | 270,000 | 0 | -822,000 | -1,576,000 | 100,000 | -1,850,000 | 100,000 | 100,000 | 100,000 | -700,000 | 100,000 | -660,000 | -300,000 | -400,000 | -300,000 | 1,400,000 | -500,000 | ||||||||||||||||||||||||||||||||||||||||
cash received in ccp merger | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from sales of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (repayments of) proceeds from revolving credit facility | 26,000,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions to noncontrolling interests | -200,000 | -43,000 | -37,000 | -36,000 | -35,000 | -35,000 | -35,000 | -37,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock redemption | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid on common and preferred stock | -88,213,000 | -85,487,000 | -81,475,000 | -80,260,000 | -80,242,000 | -80,242,000 | -81,947,000 | -82,789,000 | -95,276,000 | -26,122,000 | -30,698,000 | -29,993,000 | -29,981,000 | -29,995,000 | -29,987,000 | -29,301,000 | -29,278,000 | -29,276,000 | -25,671,000 | -25,672,000 | -23,835,000 | -20,529,000 | -20,528,000 | -16,597,000 | -15,474,000 | -15,268,000 | ||||||||||||||||||||||||||||||||
amortization of above and below market lease intangibles | -1,601,000 | -1,601,000 | 4,304,000 | 3,508,000 | 5,561,000 | -684,000 | -684,000 | -1,549,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash interest income adjustments | -555,000 | -563,000 | -562,000 | -578,000 | -548,000 | -604,000 | -570,000 | -632,000 | -188,000 | 25,000 | 26,000 | 33,000 | 106,000 | 221,000 | 222,000 | 283,000 | 131,000 | 99,000 | 113,000 | 108,000 | 77,000 | 70,000 | 70,000 | 50,000 | 17,000 | 7,000 | 5,000 | 6,000 | 9,000 | |||||||||||||||||||||||||||||
straight-line rental income adjustments | -3,357,000 | -5,242,000 | -5,468,000 | -9,740,000 | -10,652,000 | -12,189,000 | -11,563,000 | -11,180,000 | -8,682,000 | -4,971,000 | -4,607,000 | -5,274,000 | -5,593,000 | -5,524,000 | -5,593,000 | -6,048,000 | -6,438,000 | -6,178,000 | -5,656,000 | -6,747,000 | -4,641,000 | -4,247,000 | -4,186,000 | -3,873,000 | -3,536,000 | -3,617,000 | -3,683,000 | -2,036,000 | -1,167,000 | -721,000 | -969,000 | -1,372,000 | -592,000 | |||||||||||||||||||||||||
loss (income) from unconsolidated joint venture | 1,383,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
benefit from doubtful accounts and loan losses | 8,910,000 | -674,000 | 1,213,000 | 9,659,000 | 5,149,000 | 535,000 | 1,770,000 | 2,257,000 | 540,000 | 223,000 | 2,523,000 | |||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash investing and financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of business in ccp merger | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
assumption of indebtedness in ccp merger | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock exchanged in ccp merger | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on consolidation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | -1,285,000 | -3,167,000 | -1,138,000 | -731,000 | -877,000 | -588,000 | -1,078,000 | -1,154,000 | -884,000 | -1,528,000 | -951,000 | -599,000 | -1,284,000 | -758,000 | -388,000 | -1,202,000 | -855,000 | -938,000 | -869,000 | -1,063,000 | -906,000 | -706,000 | -1,041,000 | -967,000 | -1,042,000 | -1,012,000 | -819,000 | -1,006,000 | ||||||||||||||||||||||||||||||
repayment of loans receivable | 23,720,000 | 7,163,000 | 1,429,000 | 118,000 | 1,015,000 | 21,054,000 | 185,019,000 | 8,874,000 | 2,518,000 | 1,233,000 | 0 | 2,052,000 | 810,000 | |||||||||||||||||||||||||||||||||||||||||||||
repayment of preferred equity investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
release of contingent consideration held in escrow | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from sale of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from (repayments of) revolving credit facility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from secured debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
contributions by noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 487,779,000 | 17,010,000 | 312,000 | -12,870,000 | 6,736,000 | -84,838,000 | 94,738,000 | 1,568,000 | -23,958,000 | 25,477,000 | 36,314,000 | 10,394,000 | 10,799,000 | -22,000 | 3,871,000 | 39,205,000 | 36,464,000 | -39,575,000 | 5,977,000 | |||||||||||||||||||||||||||||||||||||||
effect of foreign currency translation on cash and cash equivalents | -20,000 | 628,000 | 109,000 | 21,000 | -747,000 | 644,000 | -3,000 | 131,000 | -81,000 | -46,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 0 | 25,663,000 | 0 | 0 | 0 | 7,434,000 | 0 | 0 | 0 | 61,793,000 | 0 | 0 | 0 | 4,308,000 | 0 | 0 | 0 | 17,101,000 | 0 | 0 | 0 | 42,250,000 | 0 | 0 | 0 | 74,233,000 | ||||||||||||||||||||||||||||||
cash and cash equivalents, end of period | 487,759,000 | 17,638,000 | 421,000 | 12,814,000 | 5,989,000 | -84,194,000 | 94,735,000 | 9,133,000 | -24,039,000 | 25,431,000 | 1,871,000 | 4,171,000 | 36,314,000 | 10,394,000 | 10,799,000 | 4,286,000 | -92,333,000 | 3,871,000 | 39,205,000 | 53,565,000 | -13,376,000 | 27,367,000 | 435,000 | 2,675,000 | -14,167,000 | 52,963,000 | -76,756,000 | 80,210,000 | ||||||||||||||||||||||||||||||
amortization of deferred financing costs | 1,574,000 | 1,281,000 | 1,277,000 | 1,273,000 | 1,273,000 | 1,273,000 | 1,221,000 | 1,314,000 | 1,300,000 | 1,268,000 | 1,261,000 | 1,233,000 | 940,000 | 927,000 | 945,000 | 885,000 | 806,000 | 823,000 | 766,000 | 1,180,000 | 1,173,000 | 881,000 | 566,000 | 491,000 | 512,000 | 500,000 | 495,000 | |||||||||||||||||||||||||||||||
amortization of debt premium/discount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
real estate acquired through loan receivable foreclosure | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of debt discount | 29,000 | 28,000 | 28,000 | 27,000 | 27,000 | 27,000 | 26,000 | 26,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses and other assets | -13,715,000 | -1,414,000 | -2,833,000 | -1,884,000 | 9,165,000 | -5,900,000 | -7,759,000 | -3,743,000 | -8,086,000 | -3,206,000 | -5,464,000 | -1,358,000 | 981,000 | -2,152,000 | -1,965,000 | 69,000 | -1,050,000 | -513,000 | -198,000 | 895,000 | -653,000 | -126,000 | -1,591,000 | 337,000 | -172,000 | 391,000 | ||||||||||||||||||||||||||||||||
net borrowing (repayments) of revolving credit facility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments on mortgage notes | -1,028,000 | -1,021,000 | -1,012,000 | -11,696,000 | -1,038,000 | -1,022,000 | -948,000 | -844,000 | -643,000 | -697,000 | -691,000 | -686,000 | -30,408,000 | -57,325,000 | -913,000 | -888,000 | ||||||||||||||||||||||||||||||||||||||||||
net proceeds from the sale of real estate | 9,993,000 | 75,058,000 | 398,000 | 13,952,000 | 0 | 0 | 2,208,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
acquisitions of real estate | -43,960,000 | -74,758,000 | -84,721,000 | -49,600,000 | -603,490,000 | -9,739,000 | -108,650,000 | -119,780,000 | 0 | -107,374,000 | -42,500,000 | -25,700,000 | -29,850,000 | -16,800,000 | -113,700,000 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from term loan | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from mortgage notes | 0 | 0 | 0 | 11,600,000 | 46,103,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
assumption of mortgage indebtedness | 10,779,000 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in real estate investments due to variable interest consolidation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in loans receivable and preferred equity due to variable interest consolidation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in loans receivables/increase in real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dip loan fundings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from revolving credit facility | 51,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of preferred stock | -8,000 | -88,000 | -638,000 | 138,983,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash transactions: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
benefit from doubtful accounts and write-offs | 2,489,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred equity investments | -4,150,000 | -4,820,000 | -311,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on sale of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds (repayments) from revolving credit facility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of premium | 25,000 | 23,000 | 0 | 0 | -33,000 | -136,000 | -134,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
benefit from doubtful accounts | 1,144,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
write-off of straight-line rental income | 0 | 0 | 2,895,000 | 99,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
net (repayments) proceeds from revolving credit facility | -42,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -57,622,000 | 27,367,000 | 52,963,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment charge | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in preferred equity investment/increase in loans receivable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred equity investment | -4,842,000 | -6,453,000 | -5,000 | -1,480,000 | -498,000 | -4,646,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from revolving credit facility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments on revolving credit facility | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash transaction: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from secured revolving credit facility | 30,000,000 | 50,000,000 | 92,500,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments on secured revolving credit facility | -192,000,000 | -23,500,000 | -8,000,000 | 0 | 0 | -92,500,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash loss on extinguishment of debt | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
origination of loans receivable | -139,567,000 | -1,149,000 | -12,371,000 | -12,873,000 | -69,000 | -935,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
acquisition of note receivable | 0 | 0 | -19,000 | -5,329,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of note receivable | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of premium on notes payable | -488,000 | -4,000 | -4,000 | -4,000 | -4,000 | -3,000 | -4,000 | -4,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
amortization of premium on senior unsecured notes | -199,000 | -195,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
principal payments on mortgage notes payable | -989,000 | -25,525,000 | -14,237,000 | -21,673,000 | -791,000 | -778,000 | -750,000 | -739,000 | -760,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -12,716,000 | -12,227,000 | -12,239,000 | -12,250,000 | -12,213,000 | -11,762,000 | -11,827,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
deferred taxes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash received in the separation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from mortgage notes payable | 20,822,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payment of separation-related obligations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from mortgage notes payables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
origination of note receivable | -10,103,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payments related to the issuance of common stock | -370,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additions to corporate furniture, fixtures and equipment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net non-cash assets received in the separation |
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