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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ (10,333) $ 43,937
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 19,964 19,440
Amortization of deferred financing costs 937 766
Amortization of restricted stock and restricted stock units 738 658
Equity in loss of unconsolidated joint ventures 384 190
Gain on sale of real estate 0 (51,981)
Gain on insurance recovery (517) (3,227)
Loss on extinguishment of debt 0 593
Increases and decreases from changes in other assets and liabilities:    
Decrease in deposits and escrows 4,861 3,926
(Increase) decrease in other assets (2,358) 5,138
Decrease in accounts payable and accrued liabilities 1,604 2,007
Net cash provided by operating activities 15,280 21,447
Cash flows from investing activities:    
Collections from real estate loan 300 300
Additions to real estate properties (56,840) (140,433)
Improvements to real estate properties (4,755) (10,019)
Investment in joint venture (11,231) (12,370)
Purchase of non-controlling interests 0 (250)
Consolidation of investment in joint venture 1,458 1,279
Net proceeds from the sale of real estate properties 0 146,901
Distributions from unconsolidated joint ventures 898 381
Net cash used in investing activities (70,170) (14,211)
Cash flows from financing activities:    
Proceeds from mortgages payable 82,325 82,524
Mortgage payoffs (38,200) (75,436)
Mortgage principal payments (2,721) (2,424)
Proceeds from credit facility 9,000 0
Increase in deferred financing costs (1,098) (943)
Dividends paid (6,361) (5,788)
Contributions from non-controlling interests 3,291 28,018
Distributions to non-controlling interests (4,610) (34,183)
Proceeds from the sale of common stock 0 11,926
Repurchase of shares of common stock (46) 0
Net cash provided by financing activities 41,580 3,694
Net (decrease) increase in cash, cash equivalents and restricted cash (13,310) 10,930
Cash, cash equivalents and restricted cash at beginning of period 40,608 21,761
Cash, cash equivalents and restricted cash at end of period 27,298 32,691
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest, net of capitalized interest of $695 and $59, respectively 18,218 15,780
Taxes paid 44 114
Acquisition of real estate through assumption of debt 0 13,608
Real estate properties reclassified to assets held for sale 22,722 0
Accrued additions of property and equipment 2,160 0
Consolidation of investment in joint venture:    
Increase in other assets (2,358) 5,138
Decrease in accounts payable and accrued liabilities 1,604 2,007
Increase in cash upon consolidation of joint venture 1,458 1,279
Partnership Interest    
Increases and decreases from changes in other assets and liabilities:    
(Increase) decrease in other assets (189) 0
Decrease in accounts payable and accrued liabilities 407 0
Cash flows from investing activities:    
Consolidation of investment in joint venture 1,458 0
Consolidation of investment in joint venture:    
Increase in real estate assets (48,624) 0
Increase in deposits and escrows (696) 0
Increase in other assets (189) 0
Increase in mortgage payable 33,347 0
Increase in deferred financing costs (65) 0
Decrease in accounts payable and accrued liabilities 407 0
Increase in non controlling interest 6,047 0
Decrease in investment in joint venture 11,231 0
Increase in cash upon consolidation of joint venture $ 1,458 $ 0