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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 9,705 $ 66,342
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,807 77,768
Amortization of above and below-market leases and lease inducements, net (4,546) (3,852)
Amortization of debt premiums, discounts and financing costs, net 1,279 797
Straight-line rent adjustment, net (2,823) (3,237)
Provision for asset impairment 2,359 3,510
Gain on sale and transfer of investment properties, net (32,443) (51,741)
Loss (gain) on extinguishment of debt, net 2,901 (10,693)
Equity in losses of unconsolidated entities 48 2,795
Distributions from unconsolidated entities 6,034 5,069
Stock-based compensation, net 3,454 3,187
Realized and unrealized investment gains 0 (236)
Provision for indemnification claims 25,500 0
Changes in assets and liabilities:    
Accounts and rents receivable, net (686) 400
Deferred costs and other assets (2,175) 3,742
Accounts payable and accrued expenses 5,636 7,862
Other liabilities 139 (22)
Net cash provided by operating activities 86,189 101,691
Cash flows from investing activities:    
Purchase of investment properties (329,493) (149,781)
Acquired in-place and market lease intangibles, net (29,602) (8,935)
Capital expenditures and tenant improvements (14,861) (17,636)
Investment in development projects (5,658) (2,028)
Proceeds from sale and transfer of investment properties, net 183,588 254,424
Indemnification payment related to the sale of investment properties (30,000) 0
Proceeds from the sale of marketable securities, net 0 3,609
Proceeds from the sale of unconsolidated entity 30,000 0
Contributions to unconsolidated entities 0 (2,761)
Distributions from unconsolidated entities 0 282
Lease commissions and other leasing costs (3,864) (5,353)
Other assets 477 (89)
Other liabilities (239) (330)
Net cash (used in) provided by investing activities (199,652) 71,402
Cash flows from financing activities:    
Shares repurchased 0 (98,666)
Distributions (39,842) (41,164)
Proceeds from debt 118,000 52,000
Pay-off of debt (106,041) (68,096)
Debt prepayment penalties (2,692) (1,617)
Principal payments of debt (1,382) (1,423)
Payment of finance lease liabilities (343) 0
Payment of loan fees and deposits (273) (619)
Net cash used in financing activities (32,573) (159,585)
Net (decrease) increase in cash, cash equivalents, and restricted cash (146,036) 13,508
Cash, cash equivalents, and restricted cash at the beginning of the period 264,853 171,878
Cash, cash equivalents, and restricted cash at the end of the period 118,817 185,386
Reconciliation of cash, cash equivalents, and restricted cash to condensed consolidated balance sheets:    
Cash, cash equivalents, and restricted cash at the end of the period 264,853 171,878
Cash flow disclosure, including non-cash activities:    
Cash paid for interest, net of capitalized interest of $89 and $0 16,089 18,504
Cash paid for income taxes, net of refunds of $438 and $138 504 1,040
Cash paid for operating lease liabilities 568 0
Right-of-use assets obtained in exchange for operating lease liabilities 2,890 0
Lease liabilities arising from obtaining right-of-use assets 3,114 0
Distributions payable 13,408 13,030
Accrued investment in re-development projects 300 362
Accrued lease commissions and other leasing costs 232 410
Tenant building construction placed into service 7,950 0
Accrued common stock repurchase costs 0 565
Purchase of investment properties:    
Net investment properties 332,449 150,477
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 37,103 14,121
Accounts payable and accrued expenses, lease intangibles, and other liabilities (10,457) (5,882)
Cash outflow for purchase of investment properties, net 359,095 158,716
Capitalized acquisition costs (2,334) (260)
Construction escrow accounts 0 467
Credits and other changes in cash outflow, net 9,003 877
Gross acquisition price of investment properties 365,764 159,800
Sale and transfer of investment properties:    
Net investment properties 153,081 251,383
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 5,683 10,077
Debt extinguished through the transfer of properties 0 (44,331)
Debt assumed by the buyer through the disposition of properties 0 (14,854)
Gain on sale and transfer of investment properties, net 32,443 51,741
(Loss) gain on extinguishment of debt (2,092) 10,697
Proceeds from sale and transfer of investment properties, net 183,588 254,424
Transfer of mortgage principal to buyer 0 16,600
Surrender of mortgage escrows for transferred properties 0 2,160
Credits and other changes in cash inflow, net 6,612 9,766
Gross disposition price of investment properties $ 190,200 $ 282,950