|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
FY2023
12 months to Dec 31, 2023
|
|
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income (loss) | |||
| Adjustments to reconcile net income (loss) to cash flows from operating activities: | |||
| Provision for (recovery of) loan losses | |||
| Depreciation and amortization | |||
| Stock-based compensation | |||
| Amortization of discounts/premiums and deferred interest on loans, net | |||
| Deferred interest on loans received | |||
| Amortization of premium, discount and deferred financing costs and paid-in-kind interest on debt obligations, net | |||
| Earnings from equity method investments | |||
| Distributions from operations of other investments | |||
| Deferred operating lease income | |||
| Unrealized (gains) losses on equity investments | |||
| Loss on early extinguishment of debt | |||
| Income from sales of real estate | |||
| Land development revenue (in excess of) cost of sales | |||
| Other operating activities, net | |||
| Changes in assets and liabilities: | |||
| Changes in accrued interest and operating lease income receivable | |||
| Changes in deferred expenses and other assets, net | |||
| Changes in accounts payable, accrued expenses and other liabilities | |||
| Cash flows used in operating activities | |||
| Cash flows from investing activities: | |||
| Originations and fundings of loans receivable and other lending investments, net | |||
| Capital expenditures on real estate assets | |||
| Capital expenditures on land and development assets, net | |||
| Repayments of and principal collections on loans receivable and other lending investments, net | |||
| Net proceeds from sales of loans receivable | |||
| Net proceeds from sales of real estate | |||
| Net proceeds from sales of land and development assets | |||
| Distributions from other investments | |||
| Cash, cash equivalents & restricted cash acquired upon consolidation of venture (refer to Note 5) | |||
| Other investing activities, net | |||
| Cash flows provided by (used in) investing activities | |||
| Cash flows from financing activities: | |||
| Net transactions with iStar Inc. | |||
| Borrowings from debt obligations | |||
| Repayments of debt obligations | |||
| Payment of deferred financing costs | |||
| Distributions to noncontrolling interests | |||
| Payments of debt prepayment or extinguishment costs | |||
| Repurchase of common stock | |||
| Other financing activities, net | |||
| Cash flows provided by financing activities | |||
| Changes in cash, cash equivalents and restricted cash | |||
| Cash, cash equivalents and restricted cash at beginning of period | |||
| Cash, cash equivalents and restricted cash at end of period |
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