Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 5 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2022
Jul. 19, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:        
Net income (loss) $ (175,018) $ 159,190 $ 553,029 $ 206,705
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Depreciation and amortization 225,472 50,557 93,486 96,314
Gain on interest rate derivatives (76,275) 0 0 0
Straight-line rents and amortization of above and below market leases (26,178) (2,276) (2,800) (4,713)
Amortization of deferred financing costs 11,042 488 725 548
Incentive compensation expense 0 3,335 8,495 5,648
Gain on sale of real estate, net 0 (157,022) (359,875) (27,273)
(Increase) decrease in tenant and other receivables, lease right-of-use assets, net, prepaid expenses and other assets, and due from affiliates (1,734) 3,020 (971) 1,156
Increase (decrease) in accounts payable, accrued expenses and other liabilities, lease liabilities, and due to affiliates (7,091) 59,096 10,148 (1,410)
Net cash provided by (used in) operating activities (49,782) 116,388 302,237 276,975
Investing activities:        
Acquisitions of real estate 0 0 (147,702) (60,019)
Proceeds from sales of investments in real estate 0 236,230 400,955 40,674
Capital expenditures (36,228) (57,964) (83,887) (52,474)
Net cash provided by (used in) investing activities (36,228) 178,266 169,366 (71,819)
Financing activities:        
Proceeds from debt 3,866,828 20,000 32,000 0
Repayments on debt (1,535) (52,000) 0 0
Payment of deferred financing costs (10,782) (198) (2,494) (335)
Proceeds from issuance of preferred stock 500 0 0 0
Exercise of stock options 0 2,101 5,012 258
Payment of issuance costs 0 176 (105) 0
Cash paid for taxes in lieu of shares upon vesting of restricted stock units 0 (1,318) (3,940) (4,216)
Cash paid to restricted stock unit holders 0 (328) (1,498) (654)
Contributions from noncontrolling interests 257 492 746 493
Distributions to noncontrolling interests (1,980) (55,358) (64,364) (30,823)
Distribution to preferred stockholders (19,186) (19,160) (46,624) (48,186)
Distribution to common stockholders (112,379) (209,079) (242,595) (115,396)
Redemption of preferred stock (322,715) 0 (189,750) 0
Blackstone contributions 3,174,135 0 0 0
Redemption of common shares and related costs (5,141,856) 0 0 0
Parent Partners Loans (1,285,575) 0 0 0
Derivative premium paid (32,758) 0 0 0
Derivative premium received 25,300 0 0 0
Net cash provided by (used in) financing activities 138,254 (314,672) (513,612) (198,859)
Net increase (decrease) in Cash and cash equivalents and restricted cash 52,244 (20,018) (42,009) 6,297
Cash and cash equivalents and restricted cash - beginning of period 8,144 28,162 70,171 63,874
Cash and cash equivalents and restricted cash - end of period $ 52,244 $ 8,144 $ 28,162 $ 70,171