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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating activities      
Net loss $ (212,003) $ (13,407) $ (22,165)
Adjustments to reconcile net loss to cash provided by operating activities:      
Depreciation and amortization 57,002 28,961 28,295
Depreciation and amortization - discontinued operations 54,148 63,350 64,431
Amortization of above (below) market leases 2,955 (163) (163)
Amortization of above (below) market leases - discontinued operations (1,865) (403) 214
Amortization of loan costs 2,144 1,713 2,319
Amortization of mortgage loan discount (400) (710) (607)
Share-based compensation expense 1,341 1,319 2,581
Deferred income tax benefit (430) 0 0
Operating distributions from unconsolidated joint ventures 507 0 392
Gain on sale of real estate investments (18,568) (8,558) (1,293)
Non-cash impairment loss on real estate 6,420 0 8,817
Non-cash impairment loss on real estate - discontinued operations 189,940 4,120 0
Non-cash impairment loss on mortgage loan receivable 9,235 0 0
Non-cash gain on mortgage loan payable (8,601) 0 0
Equity in earnings of unconsolidated joint ventures (57) (326) (445)
Change in fair value of contingent consideration (13,000) 0 0
Increase in deferred leasing costs (16,947) (13,425) (16,348)
Change in receivables and other assets (19,737) (4,194) 3,678
Change in accounts payable and other liabilities 3,443 9,782 228
Cash provided by operating activities 35,527 68,059 69,934
Investing activities      
Distributions from unconsolidated joint ventures 3,201 0 0
Investment in real estate (491,279) (36,498) 1,033
Investment in other assets (3,500) 0 0
Investment in management company (32,400) 0 0
Proceeds from sale of real estate 200,193 4,758 15,542
Proceeds from property insurance settlement 0 0 1,984
Real estate development 0 0 (5,329)
Improvements to real estate (41,811) (36,335) (28,420)
Cash used in investing activities (365,596) (68,075) (15,190)
Financing activities      
Principal payments on mortgage notes payable (106,567) (140,499) (35,381)
Proceeds from mortgage notes payable 222,013 70,000 18,500
Proceeds from bank borrowings 286,655 143,750 35,742
Payments on bank borrowings (265,172) (132,911) (121,682)
Debt financing costs (4,858) (1,004) (406)
Purchase of Company stock (397) (821) (58)
Dividends paid on common stock (6,552) (6,448) (25,794)
Dividends paid on preferred stock (9,529) (5,787) (4,800)
Contributions from noncontrolling interest partners 287,501 27,912 57
Distributions to noncontrolling interest partners (43,546) 0 0
Proceeds from stock offering 26,034 44,797 84,457
Cash provided by (used in) financing activities 385,582 (1,011) (49,365)
Change in cash and cash equivalents 55,513 (1,027) 5,379
Cash and cash equivalents at beginning of year 19,670 20,697 15,318
Cash and cash equivalents at end of year $ 75,183 $ 19,670 $ 20,697