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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOW FROM OPERATING ACTIVITIES    
Net income (loss) $ 16,201 $ (32,844)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Equity in loss (income) of unconsolidated joint ventures 2,582 (1,002)
Gain on sale of real estate (41,831)  
Unrealized (gain) loss on interest rate cap (165) 471
Stock-based compensation 869 390
Depreciation and amortization 34,667 58,663
Amortization of deferred financing costs 1,720 1,582
Amortization of above and below market leases, net (234) (195)
Straight-line rent adjustment (2,453) (1,534)
Change in operating assets and liabilities    
Tenants and other receivables 1,034 419
Prepaid expenses, deferred expenses and other assets (4,229) (687)
Accounts payable, accrued expenses and other liabilities (502) 9,039
Net cash provided by operating activities 7,659 34,302
CASH FLOW FROM INVESTING ACTIVITIES    
Investment in unconsolidated joint ventures (1,616) (5,943)
Distributions from unconsolidated joint ventures 2,110 3,623
Net proceeds from sale of real estate 60,435  
Development of real estate (85,983) (22,848)
Net cash used in investing activities (25,054) (25,168)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of mortgage loans payable (73,034)  
Proceeds from Future Funding Facility   7,011
Payment of deferred financing costs (363) (1,446)
Common dividends paid (8,877) (8,447)
Non-controlling interests distributions paid (5,055) (5,477)
Net cash used in financing activities (87,329) (8,359)
Net increase (decrease) in cash, cash equivalents, and restricted cash (104,724) 775
Cash, cash equivalents, and restricted cash, beginning of period 417,234 139,642
Cash, cash equivalents, and restricted cash, end of period 312,510 140,417
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 21,105 16,052
Capitalized interest 6,862 1,177
Income taxes paid 104 119
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Development of real estate financed with accounts payable 19,964 5,899
Dividends and distribution declared and unpaid 14,046 13,969
Decrease in real estate, net resulting from deconsolidated properties (58,190)  
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 135,091 26,542
Restricted cash 177,419 113,875
Cash, cash equivalents, and restricted cash, end of period $ 312,510 $ 140,417