hD

Cash Flow Summary

Duke Realty (DRE) annual cash flow statement covering fiscal 2016 through 2021, as reported to the SEC.

  • Duke Realty generated $642.43M in cash from operations in fiscal 2021, up 13.4% from $566.44M in fiscal 2020.
  • That is 0.7 times its reported net income of $861.62M.
  • After spending $661.42M on development of real estate investments, free cash flow was -$18.99M.
  • Investing activities used $832.41M and financing activities provided $225.93M.
  • Duke Realty paid $394.49M in dividends.

Net cash provided by operating activities has grown 7% a year on average since fiscal 2016, from $457.02M to $642.43M.

A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.

Figures in USD thousands
Dec'21Dec'20Dec'19Dec'18Dec'17Dec'16
Cash flows from operating activities:
Investments and advances related to acquisition of previously unconsolidated companies

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investments and advances related to acquisition of previously unconsolidated companies

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distribution of property from unconsolidated company

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distribution of property from unconsolidated company

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

861,618

302,760

432,644

387,268

1,654,341

315,278

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

861,618

302,760

432,644

387,268

1,654,341

315,278

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of buildings and tenant improvements

304,935

297,158

272,422

256,250

242,606

255,419

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation of buildings and tenant improvements

304,935

297,158

272,422

256,250

242,606

255,419

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of Other Deferred Charges

57,213

55,855

54,801

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of Other Deferred Charges

57,213

55,855

54,801

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

55,967

56,866

62,399

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

55,967

56,866

62,399

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,735

9,155

6,536

5,867

5,402

5,327

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,735

9,155

6,536

5,867

5,402

5,327

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

32,081

25,865

21,197

24,605

16,051

13,743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

32,081

25,865

21,197

24,605

16,051

13,743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

5,626

-

-

4,481

18,018

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

5,626

-

-

4,481

18,018

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-17,901

-32,900

-6,320

-388

-26,104

-33,934

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-17,901

-32,900

-6,320

-388

-26,104

-33,934

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

3,222

4,312

2,259

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

3,222

4,312

2,259

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on dissolution of unconsolidated joint venture

-

-

-

-

-

30,697

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on dissolution of unconsolidated joint venture

-

-

-

-

-

30,697

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on acquisitions

-

-

-

-

-

7,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on acquisitions

-

-

-

-

-

7,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

598,602

138,269

242,543

219,114

1,480,691

172,974

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

598,602

138,269

242,543

219,114

1,480,691

172,974

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax asset valuation allowance

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax asset valuation allowance

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Build-for-Sale operations, net

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Build-for-Sale operations, net

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

6,269

2,511

-9,254

15,400

-1,000

-5,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

6,269

2,511

-9,254

15,400

-1,000

-5,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-48,194

-29,333

-8,476

-47,711

-3,104

-16,682

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-48,194

-29,333

-8,476

-47,711

-3,104

-16,682

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

16,996

-4,606

18,556

9,925

46,958

30,627

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

16,996

-4,606

18,556

9,925

46,958

30,627

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

642,426

566,436

505,898

484,407

450,204

457,017

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

642,426

566,436

505,898

484,407

450,204

457,017

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash flows from investing activities:
Development of real estate investments

661,416

573,544

446,801

577,383

549,563

401,942

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Development of real estate investments

661,416

573,544

446,801

577,383

549,563

401,942

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

447,584

383,672

210,224

348,100

982,600

170,635

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

447,584

383,672

210,224

348,100

982,600

170,635

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

700,632

248,413

388,202

244,262

243,846

99,168

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

700,632

248,413

388,202

244,262

243,846

99,168

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,445

45,037

53,137

53,474

52,554

59,349

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,445

45,037

53,137

53,474

52,554

59,349

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

42,214

41,607

32,921

39,380

30,208

38,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

42,214

41,607

32,921

39,380

30,208

38,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

19,067

4,868

10,777

14,535

6,960

11,854

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

19,067

4,868

10,777

14,535

6,960

11,854

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

110,000

162,550

154,107

3,650

204,428

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

110,000

162,550

154,107

3,650

204,428

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,070,000

336,300

432,700

511,400

2,520,000

538,900

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,070,000

336,300

432,700

511,400

2,520,000

538,900

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

61,616

876

26,272

23,133

124,956

126,051

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

61,616

876

26,272

23,133

124,956

126,051

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

22,640

6,211

34,496

5,920

10,323

57,914

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

22,640

6,211

34,496

5,920

10,323

57,914

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-832,415

-856,221

-555,074

-594,430

775,912

30,099

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-832,415

-856,221

-555,074

-594,430

775,912

30,099

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash flows from financing activities:
Proceeds from issuance of common shares, net

406,576

187,856

272,761

34,913

13,383

220,258

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of common shares, net

406,576

187,856

272,761

34,913

13,383

220,258

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of preferred shares, net

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of preferred shares, net

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments for redemption/repurchase of preferred shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments for redemption/repurchase of preferred shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

940,749

663,123

582,284

450,000

300,000

375,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

940,749

663,123

582,284

450,000

300,000

375,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

390,900

546,972

255,812

7,190

692,137

440,040

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

390,900

546,972

255,812

7,190

692,137

440,040

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

18,400

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

18,400

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,413

13,457

45,515

232,234

72,648

354,832

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,413

13,457

45,515

232,234

72,648

354,832

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-295,000

295,000

-30,000

30,000

-48,000

-23,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-295,000

295,000

-30,000

30,000

-48,000

-23,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

394,487

355,287

318,702

291,502

273,999

255,279

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

394,487

355,287

318,702

291,502

273,999

255,279

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders - special

-

-

-

-

302,833

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders - special

-

-

-

-

302,833

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to preferred shareholders

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to preferred shareholders

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-4,352

-3,347

-2,648

-2,456

-11,882

-2,640

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-4,352

-3,347

-2,648

-2,456

-11,882

-2,640

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

5,132

4,360

6,825

8,459

14,946

7,103

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

5,132

4,360

6,825

8,459

14,946

7,103

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

-12,453

1,941

138

-22,088

22,924

2,324

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

-12,453

1,941

138

-22,088

22,924

2,324

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash settlement of interest rate swaps

-

-

-35,569

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash settlement of interest rate swaps

-

-

-35,569

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-357

163

-10,183

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-357

163

-10,183

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

14,262

7,483

4,839

9,071

8,931

6,724

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

14,262

7,483

4,839

9,071

8,931

6,724

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Redemption of Limited Partner Units

39

-

-

-

457

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Redemption of Limited Partner Units

39

-

-

-

457

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

225,930

235,577

145,090

-58,087

-1,089,526

-492,036

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

225,930

235,577

145,090

-58,087

-1,089,526

-492,036

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

35,941

-54,208

95,914

-168,110

136,590

-4,920

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

35,941

-54,208

95,914

-168,110

136,590

-4,920

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noncash activities:
Lease liabilities arising from right-of-use assets

19,822

20,883

40,467

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

19,822

20,883

40,467

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

128,639

39,966

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

128,639

39,966

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Carrying amount of pre-existing ownership interest in acquired property

-

-

-

5,034

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Carrying amount of pre-existing ownership interest in acquired property

-

-

-

5,034

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

74,942

-

-

3,200

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

74,942

-

-

3,200

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

11,124

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

11,124

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes receivable from buyers in property sales

-

-

-

-

404,846

23,360

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes receivable from buyers in property sales

-

-

-

-

404,846

23,360

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness by buyer in real estate dispositions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness by buyer in real estate dispositions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

5,099

-

1,624

-269

1,847

967

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

5,099

-

1,624

-269

1,847

967

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

11,603

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

11,603

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Duke Realty Limited Partnership [Member]
Net income

861,618

302,760

432,644

387,268

1,654,341

315,278

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

861,618

302,760

432,644

387,268

1,654,341

315,278

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation of buildings and tenant improvements

304,935

297,158

272,422

256,250

242,606

255,419

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation of buildings and tenant improvements

304,935

297,158

272,422

256,250

242,606

255,419

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of Other Deferred Charges

57,213

55,855

54,801

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of Other Deferred Charges

57,213

55,855

54,801

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

55,967

56,866

62,399

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

55,967

56,866

62,399

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,735

9,155

6,536

5,867

5,402

5,327

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,735

9,155

6,536

5,867

5,402

5,327

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

32,081

25,865

21,197

24,605

16,051

13,743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

32,081

25,865

21,197

24,605

16,051

13,743

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

5,626

-

-

4,481

18,018

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

5,626

-

-

4,481

18,018

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-17,901

-32,900

-6,320

-388

-26,104

-33,934

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-17,901

-32,900

-6,320

-388

-26,104

-33,934

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

3,222

4,312

2,259

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

3,222

4,312

2,259

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on dissolution of unconsolidated joint venture

-

-

-

-

-

30,697

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on dissolution of unconsolidated joint venture

-

-

-

-

-

30,697

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on acquisitions

-

-

-

-

-

7,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on acquisitions

-

-

-

-

-

7,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

598,602

138,269

242,543

219,114

1,480,691

172,974

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

598,602

138,269

242,543

219,114

1,480,691

172,974

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

6,269

2,511

-9,254

15,400

-1,000

-5,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

6,269

2,511

-9,254

15,400

-1,000

-5,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-48,194

-29,333

-8,476

-47,711

-3,104

-16,682

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-48,194

-29,333

-8,476

-47,711

-3,104

-16,682

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

16,996

-4,606

18,556

9,925

46,958

30,627

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

16,996

-4,606

18,556

9,925

46,958

30,627

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

642,426

566,436

505,898

484,407

450,204

457,017

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

642,426

566,436

505,898

484,407

450,204

457,017

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Development of real estate investments

661,416

573,544

446,801

577,383

549,563

401,942

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Development of real estate investments

661,416

573,544

446,801

577,383

549,563

401,942

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

447,584

383,672

210,224

348,107

982,598

170,635

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

447,584

383,672

210,224

348,107

982,598

170,635

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

700,632

248,413

388,202

244,262

243,846

99,168

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

700,632

248,413

388,202

244,262

243,846

99,168

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,445

45,037

53,137

53,474

52,554

59,349

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,445

45,037

53,137

53,474

52,554

59,349

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

42,214

41,607

32,921

39,380

30,208

38,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

42,214

41,607

32,921

39,380

30,208

38,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

19,067

4,868

10,777

14,535

6,960

11,854

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

19,067

4,868

10,777

14,535

6,960

11,854

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

110,000

162,550

154,107

3,650

204,428

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

110,000

162,550

154,107

3,650

204,428

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,067,967

336,255

432,662

511,391

2,523,358

538,892

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,067,967

336,255

432,662

511,391

2,523,358

538,892

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

61,616

876

26,272

23,133

124,956

126,051

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

61,616

876

26,272

23,133

124,956

126,051

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

22,640

6,211

34,496

5,920

10,323

57,914

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

22,640

6,211

34,496

5,920

10,323

57,914

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-832,415

-856,221

-555,074

-594,430

775,912

30,099

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-832,415

-856,221

-555,074

-594,430

775,912

30,099

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contributions from the General Partner

406,576

187,856

272,761

34,913

13,383

220,258

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contributions from the General Partner

406,576

187,856

272,761

34,913

13,383

220,258

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

940,749

663,123

582,284

450,000

300,000

375,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

940,749

663,123

582,284

450,000

300,000

375,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

390,900

546,972

255,812

7,190

692,137

440,040

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

390,900

546,972

255,812

7,190

692,137

440,040

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

18,400

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

18,400

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,413

13,457

45,515

232,234

72,648

354,832

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,413

13,457

45,515

232,234

72,648

354,832

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-295,000

295,000

-30,000

30,000

-48,000

-23,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-295,000

295,000

-30,000

30,000

-48,000

-23,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

398,399

358,484

321,469

294,233

276,539

257,820

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

398,399

358,484

321,469

294,233

276,539

257,820

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders - special

-

-

-

-

305,628

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders - special

-

-

-

-

305,628

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-440

-150

119

275

-6,547

-99

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-440

-150

119

275

-6,547

-99

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

5,132

4,360

6,825

8,459

14,946

7,103

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

5,132

4,360

6,825

8,459

14,946

7,103

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

-12,453

1,941

138

-22,088

22,924

2,324

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

-12,453

1,941

138

-22,088

22,924

2,324

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash settlement of interest rate swaps

-

-

-35,569

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash settlement of interest rate swaps

-

-

-35,569

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-357

163

-10,183

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-357

163

-10,183

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

14,262

7,483

4,839

9,071

8,931

6,724

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

14,262

7,483

4,839

9,071

8,931

6,724

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Redemption of Limited Partner Units

39

-

-

-

457

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Redemption of Limited Partner Units

39

-

-

-

457

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

225,930

235,577

145,090

-58,087

-1,089,526

-492,036

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

225,930

235,577

145,090

-58,087

-1,089,526

-492,036

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

35,941

-54,208

95,914

-168,110

136,590

-4,920

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

35,941

-54,208

95,914

-168,110

136,590

-4,920

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

19,822

20,883

40,467

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

19,822

20,883

40,467

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

128,639

39,966

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

128,639

39,966

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Carrying amount of pre-existing ownership interest in acquired property

-

-

-

5,034

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Carrying amount of pre-existing ownership interest in acquired property

-

-

-

5,034

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

74,942

-

-

3,200

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

74,942

-

-

3,200

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

11,124

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

11,124

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes receivable from buyers in property sales

-

-

-

-

404,846

23,360

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes receivable from buyers in property sales

-

-

-

-

404,846

23,360

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

5,099

-

1,624

-269

1,847

967

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

5,099

-

1,624

-269

1,847

967

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

11,603

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

11,603

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx