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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 2,096 $ 25,408
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,477 38,775
Amortization of above and below market leases, net (1,641) (553)
Amortization of debt premiums, discounts and financing costs 380 1,931
Straight-line rental income (342) 768
Provision for asset impairment 16,440 8,390
Gain on sale of investment properties, net (1,021) (24,026)
Loss on extinguishment of debt 0 948
Equity in earnings of unconsolidated entities (572) (1,276)
Distributions from unconsolidated entities 351 729
Gain on sale of investment in unconsolidated entities 0 (1,434)
Marketable securities realized gain (14,530) (555)
Non-cash stock-based compensation 995 422
Prepayment penalties and defeasance costs 0 (823)
Changes in assets and liabilities:    
Accounts and rents receivable 5,828 3,221
Deferred costs and other assets (4,650) (466)
Accounts payable and accrued expenses (12,096) (13,988)
Other assets (liabilities) 11,776 (1,330)
Net cash provided by operating activities 26,491 36,141
Cash flows from investing activities    
Purchase of investment properties (230,623) 0
Acquired in-place and market lease intangibles, net (17,651) 0
Capital expenditures and tenant improvements (2,774) (1,091)
Investment in development projects 0 (29,003)
Proceeds from sale of investment properties, net 28,474 107,587
Proceeds from sale of marketable securities 57,927 1,506
Proceeds from the sale of and return of capital from unconsolidated entities 0 5,480
Contributions to unconsolidated entities (1,819) (1,350)
Distributions from unconsolidated entities 331 2,562
Payment of leasing fees (1,153) (595)
Restricted cash and other assets 9,111 (808)
Other assets (10,375) (10,481)
Net cash (used in) provided by investing activities (168,552) 73,807
Cash flows from financing activities    
Distributions paid (13,041) (28,013)
Funds returned from tender offer 1,700 0
Proceeds from debt 0 215,960
Payoffs of debt 0 (58,315)
Principal payments of mortgage debt (317) (7,193)
Payment of loan fees and deposits (288) (20)
Net cash (used in) provided by financing activities (11,946) 122,419
Net (decrease) increase in cash and cash equivalents (154,007) 232,367
Cash and cash equivalents, at beginning of period 397,250 203,285
Cash and cash equivalents, at end of period $ 243,243 $ 435,652