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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ (28,906) $ (170,700)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Equity in (earnings) losses of unconsolidated ventures (17,819) 36,799
Depreciation and amortization 44,772 48,929
Impairment loss 5,386 91,437
Capitalized interest for mortgage and other notes payable 0 222
Amortization of below market debt 2,369 2,311
Straight-line rental (income) loss, net 7,432 224
Amortization of discount/accretion of premium on investments (697) (92)
Amortization of deferred financing costs 1,354 1,416
Amortization of equity-based compensation 142 123
Paid-in-kind interest on real estate debt investment (194) 0
Realized (gain) loss on investments and other (7,479) 0
Change in allowance for uncollectible accounts 108 1,803
Issuance of common stock as payment for asset management fees 7,769 7,500
Changes in assets and liabilities:    
Receivables 1,191 (4,363)
Other assets (7,560) 4,961
Due to related party (5,421) (1,896)
Escrow deposits payable 1,758 1,137
Accounts payable and accrued expenses (8,866) 8,274
Other liabilities 306 (105)
Net cash (used in) provided by operating activities (4,355) 27,980
Cash flows from investing activities:    
Capital expenditures for operating real estate (17,344) (8,990)
Sale of operating real estate 28,078 927
Repayment of real estate debt investment 74,376 0
Investments in unconsolidated ventures (400) 0
Distributions from unconsolidated ventures 6,971 1,963
Real estate debt investment modification fee 686 0
Other assets 0 (35)
Net cash provided by (used in) investing activities 92,367 (6,135)
Cash flows from financing activities:    
Borrowings from mortgage notes 26,000 0
Repayment of mortgage notes (61,121) (14,418)
Borrowings from line of credit - related party 0 35,000
Repayment of borrowings from line of credit - related party (35,000) 0
Payment of deferred financing costs (708) 0
Payments under finance leases (446) (457)
Shares redeemed for cash 0 (1,998)
Contributions from non-controlling interests 645 168
Distributions to non-controlling interests (428) (151)
Net cash (used in) provided by financing activities (71,058) 18,144
Net increase in cash, cash equivalents and restricted cash 16,954 39,989
Cash, cash equivalents and restricted cash-beginning of period 93,570 58,820
Cash, cash equivalents and restricted cash-end of period 110,524 98,809
Supplemental disclosure of non-cash investing and financing activities:    
Accrued capital expenditures 1,391 616
Assets acquired under finance leases 144 112
Assets acquired under operating leases 100 0
Reclassification of assets held for sale $ 488,241 $ 0