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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 23,784 $ 39,356
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 21,630 17,618
Amortization of deferred borrowing fees 889 1,431
Amortization of restricted stock and restricted stock units 1,063 689
Gain on sale of real estate (35,838) (35,098)
Gain on sale of partnership interest 0 (15,853)
Loss on extinguishment of debt 799 2,668
Effect of deconsolidation of non-controlling interest 0 (1,692)
Increases and decreases from changes in other assets and liabilities:    
Decrease (increase) in interest receivable 2,328 (2,212)
(Increase) in deposits and escrows (7,435) (2,567)
Decrease in other assets 1,217 1,782
(Decrease) increase in accounts payable and accrued liabilities (2,033) 776
Net cash provided by operating activities 6,404 6,898
Cash flows from investing activities:    
Collections from real estate loans 13,850 0
Additions to real estate properties (196,810) (189,299)
Net costs capitalized to real estate properties (7,261) (36,411)
Proceeds from the sale of real estate properties 128,647 166,400
Distributions from unconsolidated joint ventures 282 0
Contributions to unconsolidated joint ventures (14,394) 0
Proceeds from the sale of interest in joint venture 0 19,242
Net cash used in investing activities (74,094) (41,898)
Cash flows from financing activities:    
Proceeds from mortgages payable 131,344 175,614
Increase in other borrowed funds 0 6,001
Mortgage payoffs (79,215) (114,902)
Mortgage principal payments (3,858) (3,852)
Increase in deferred financing costs (2,527) (1,932)
Capital contributions from non-controlling interests 28,744 22,639
Capital distributions to non-controlling interests (24,231) (27,085)
Proceeds from sale of New Market Tax Credits 0 2,746
Repurchase of shares of beneficial interest/common stock (171) (2,058)
Net cash provided by financing activities 50,086 57,171
Net (decrease) increase in cash and cash equivalents (17,604) 22,171
Cash and cash equivalents at beginning of period 27,399 15,556
Cash and cash equivalents at end of period 9,795 37,727
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest, net of capitalized interest of $249 and $248 respectively 19,353 20,069
Taxes paid 1,899 632
Acquisition of real estate through assumption of debt 27,638 16,051
Real estate properties reclassified to assets held for sale 21,515 27,020
Mortgage payable reclassified to held for sale 0 26,400
RBHTRB Newark Holdings LLC | Variable Interest Entity, Primary Beneficiary    
Cash flows from investing activities:    
Net change in restricted cash 0 (1,952)
Multi-Family Real Estate | Variable Interest Entity, Primary Beneficiary    
Cash flows from investing activities:    
Net change in restricted cash $ 1,592 $ 122