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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities:            
Net income (loss) $ 23,809 $ (1,989) $ 14,751 $ (6,921) $ (29,126)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:            
Loss due to property damages     430 2,017    
Equity in loss of unconsolidated joint venture 1,622 152 1,776 348    
Depreciation and amortization 15,307 12,091 29,908 23,099    
Gain on real estate, net (34,028) 0 (34,028) 0    
Unrealized loss on interest rate caps     88 0    
Deferred rent     (1,370) (975)    
Bad debt expense (recovery)     (58) 307    
Amortization of above- and below-market leases, net     (2,037) (449)    
Amortization of deferred financing costs 1,300 1,000 2,592 1,772    
Interest accretion on real estate debt securities     (348) 0    
Net amortization of discount and (premium) on bond and notes payable     23 17    
Foreign currency transaction loss (gain), net     7,097 (2,037)    
Changes in assets and liabilities:            
Rents and other receivables     (1,524) (1,567)    
Prepaid expenses and other assets     (3,618) (4,883)    
Accounts payable and accrued liabilities     (1,090) 1,725    
Due to affiliates     (29) 0    
Other liabilities     294 1,010    
Net cash provided by operating activities     12,857 13,463    
Cash Flows from Investing Activities:            
Acquisitions of real estate     (82,235) (125,810)    
Improvements to real estate     (18,784) (14,008)    
Proceeds from sales of real estate, net     94,914 0    
Escrow deposits for future real estate purchases     0 (16,000)    
Principal proceeds from assignment of real estate loan receivable     0 27,850    
Insurance proceeds received for property damages     744 1,739    
Purchase of interest rate cap     (107) 0    
Investment in unconsolidated joint venture     0 (1,800)    
Distributions of capital from unconsolidated joint ventures     59,157 0    
Investment in real estate securities     (38,995) 0    
Investment in real estate debt securities     (12,514) 0    
Proceeds for future development obligations     1,368 0    
Funding of development obligations     (753) (1,867)    
Net cash provided by (used in) investing activities     2,795 (129,896)    
Cash Flows from Financing Activities:            
Proceeds from notes and bonds payable     124,556 338,637    
Principal payments on notes and bonds payable     (69,019) (58,196)    
Payments of deferred financing costs     (1,793) (9,154)    
Payments to redeem common stock     (7,511) (6,999)    
Payments of prepaid other offering costs     (196) 0    
Distributions paid     (4,728) (4,580)    
Noncontrolling interests contributions     11 766    
Distributions to noncontrolling interests     (10) (17)    
Acquisitions of noncontrolling interests     0 (37,986)    
Net cash provided by financing activities     41,310 222,471    
Effect of exchange rate changes on cash, cash equivalents and restricted cash     596 4,170    
Net increase in cash, cash equivalents and restricted cash     57,558 110,208    
Cash, cash equivalents and restricted cash, beginning of period 122,008 139,073 122,008 139,073 64,450 $ 28,865
Cash, cash equivalents and restricted cash, end of period $ 122,008 $ 139,073 122,008 139,073 $ 64,450  
Supplemental Disclosure of Cash Flow Information:            
Interest paid, net of capitalized interest of $1,142 and $952 for the six months ended June 30, 2017 and 2016, respectively     16,257 7,080    
Supplemental Disclosure of Noncash Investing and Financing Activities:            
Application of escrow deposits to acquisition of real estate     2,000 0    
Increase in accrued improvements to real estate     3,551 588    
Increase in redeemable common stock payable     0 7,647    
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan     $ 5,817 $ 6,361