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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net (loss) income $ (10,174) $ 38,399 $ 83,849
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 87,755 97,429 100,593
Amortization of above and below-market leases and lease inducements, net (7,060) (6,148) (5,347)
Amortization of debt premiums, discounts, and financing costs, net 1,826 1,706 1,048
Straight-line rent adjustment, net (2,590) (3,609) (4,262)
Provision for asset impairment 9,002 2,359 3,510
Provision for estimated credit losses 11,119 1,557 1,360
Gain on sale and transfer of investment properties, net (1,752) (62,011) (95,097)
Loss (gain) on extinguishment of debt, net 2,543 2,901 (9,103)
Equity in losses (earnings) and impairment, net, of unconsolidated entities 3,141 (957) 31,393
Distributions from unconsolidated entities 6,380 8,228 8,032
Realized and unrealized gains on marketable securities, net 0 0 (244)
Stock-based compensation, net 4,449 5,541 4,330
Provision for indemnification claims 0 25,500 0
Changes in operating assets and liabilities:      
Accounts and rents receivable (7,451) (4,922) (1,578)
Deferred costs and other assets, net 192 (1,624) 1,426
Accounts payable and accrued expenses (1,888) (66) 2,499
Other liabilities (1,337) 1,725 2,248
Net cash provided by operating activities 94,155 106,008 124,657
Cash flows from investing activities:      
Purchase of investment properties (37,086) (329,493) (205,462)
Acquired in-place and market lease intangibles, net (4,360) (29,602) (15,369)
Capital expenditures and tenant improvements (12,918) (17,754) (27,233)
Investment in development and re-development projects (2,189) (7,103) (3,796)
Proceeds from the sale and transfer of investment properties, net 8,027 346,707 430,514
Proceeds from the sale of marketable securities, net 0 0 4,696
Proceeds from the sale of unconsolidated entity 0 30,000 0
Indemnification payment related to the sale of investment properties 0 (30,000) 0
Contributions to unconsolidated entities 0 0 (2,782)
Distributions from unconsolidated entities 0 0 745
Lease commissions and other leasing costs (1,391) (5,621) (6,029)
Other assets 3,096 333 (127)
Other liabilities (2,239) 736 257
Net cash (used in) provided by investing activities (49,060) (41,797) 175,414
Cash flows from financing activities:      
Payment of tax withholdings for share-based compensation (1,072) (1,397) (1,567)
Repurchase of common stock under share repurchase plan (5,201) (20,384) 0
Repurchase of common stock through tender offer 0 0 (98,447)
Proceeds from distribution reinvestment plan 185 0 0
Distributions to shareholders (54,214) (53,250) (54,194)
Proceeds from debt 150,000 118,000 179,333
Payoffs of debt (167,349) (106,041) (221,358)
Debt prepayment penalties (2,504) (1,834) (3,088)
Principal payments on mortgage debt (1,441) (2,692) (1,924)
Payment of loan fees and deposits (100) (446) (5,544)
Payment of finance lease liabilities (377) (272) (307)
Net cash used in financing activities (82,073) (68,316) (207,096)
Net (decrease) increase in cash, cash equivalents, and restricted cash (36,978) (4,105) 92,975
Cash, cash equivalents, and restricted cash at beginning of year 260,748 264,853 171,878
Cash, cash equivalents, and restricted cash at end of year 223,770 260,748 264,853
Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets:      
Cash, cash equivalents, and restricted cash at end of year 260,748 264,853 264,853
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 17,256 21,259 24,096
Cash paid for income taxes, net of refunds 833 446 463
Distributions payable to shareholders 13,642 13,252 13,029
Capitalized costs placed in service 8,213 29,027 17,786
Gross issuance of shares for share-based compensation 3,593 4,051 4,319
Reclassification of registration statement costs incurred to equity issuance costs 278 0 0
Purchase of investment properties:      
Net investment properties 37,329 332,148 206,763
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 6,066 37,103 21,631
Accounts payable and accrued expenses, lease intangibles, and other liabilities (1,949) (10,156) (7,563)
Cash outflow for purchase of investment properties, net 41,446 359,095 220,831
Capitalized acquisition costs (121) (2,334) (430)
Construction escrow accounts 0 0 975
Credits and other changes in cash outflow, net 922 9,003 1,224
Gross acquisition price of investment properties 42,247 365,764 222,600
Sale and transfer of investment properties:      
Net investment properties 6,400 286,682 382,241
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 249 9,295 14,692
Debt extinguished through transfer of properties 0 0 (44,331)
Debt assumed by buyer through disposition of properties 0 0 (16,395)
Gain on sale and transfer of investment properties, net 1,752 62,011 95,097
(Loss) gain on extinguishment of debt, net 0 (2,092) 9,157
Debt prepayment penalties 0 0 3,088
Proceeds from sale and transfer of investment properties, net 8,027 346,707 430,514
Assumption of mortgage principal by buyer 0 0 16,600
Surrender of mortgage escrows for transferred properties 0 0 2,160
Credits and other changes in cash inflow, net 429 11,093 16,901
Gross disposition price of investment properties $ 8,456 $ 357,800 $ 466,175