Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 2 Months Ended 7 Months Ended 9 Months Ended
Sep. 30, 2022
Jul. 19, 2022
Sep. 30, 2021
Operating activities:      
Net income (loss) $ (70,113) $ 159,190 $ 196,020
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 100,211 50,557 69,356
Gain on interest rate derivatives (61,661) 0 0
Straight-line rents and amortization of above and below market leases (11,542) (2,276) (1,943)
Amortization of deferred financing costs 4,993 488 468
Incentive compensation expense 0 3,335 6,422
Gain on sale of real estate, net 0 (157,022) (49,117)
(Increase) decrease in tenant and other receivables, lease right-of-use assets, net, prepaid expenses and other assets, and due from affiliates 4,429 3,020 (3,370)
Increase in accounts payable, accrued expenses and other liabilities, lease liabilities, and due to affiliates 12,343 59,096 14,576
Net cash provided by (used in) operating activities (21,340) 116,388 232,412
Investing activities:      
Acquisitions of real estate 0 0 (122,171)
Proceeds from sales of investments in real estate 0 236,230 76,566
Capital expenditures (15,230) (57,964) (57,987)
Net cash provided by (used in) investing activities (15,230) 178,266 (103,592)
Financing activities:      
Proceeds from debt 3,756,828 20,000 0
Repayments on debt 0 (52,000) 0
Payment of deferred financing costs (10,782) (198) (2,485)
Proceeds from issuance of preferred stock 500 0 0
Exercise of stock options 0 2,101 907
Payment of issuance costs 0 176 (105)
Cash paid for taxes in lieu of shares upon vesting of restricted stock units 0 (1,318) (3,680)
Cash paid to restricted stock unit holders 0 (328) (545)
Contributions from noncontrolling interests 137 492 523
Distributions to noncontrolling interests 0 (55,358) (23,072)
Distribution to preferred stockholders (9,580) (19,160) (36,139)
Distributions to common stockholders 0 (209,079) (86,713)
Blackstone contribution 2,847,170 0 0
Redemption of common shares and related costs (5,141,856) 0 0
Parent Partners Loans (1,285,575) 0 0
Derivative premium paid (32,758) 0 0
Derivative premium received 25,300 0 0
Net cash provided by (used in) financing activities 149,384 (314,672) (151,309)
Net increase (decrease) in Cash and cash equivalents and restricted cash 112,814 (20,018) (22,489)
Cash and cash equivalents and restricted cash - beginning of period 7,056 27,074 69,083
Cash and cash equivalents and restricted cash - end of period $ 112,814 $ 7,056 $ 46,594