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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating activities    
Net income (loss) $ 5,327 $ (7,790)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 17,990 9,084
Depreciation and amortization - discontinued operations 414 15,816
Amortization of above market leases 1,126 39
Amortization of below market leases - discontinued operations (32) (339)
Amortization of loan costs 537 479
Amortization of mortgage loan discount 0 (197)
Share-based compensation expense 157 407
Deferred income tax benefit (245) 0
Operating distributions from unconsolidated joint ventures 0 465
Gain on sale of real estate investments - discontinued operations (5,575) 0
Equity in earnings of unconsolidated joint ventures 0 (41)
Equity in loss of unconsolidated joint ventures - discontinued operations 20 6
Change in fair value of contingent consideration 216 0
Increase in deferred leasing costs (1,792) (3,579)
Change in receivables and other assets 8,468 (1,362)
Change in accounts payable and other liabilities (11,045) (18,135)
Net cash provided by (used in) operating activities 15,566 (5,147)
Investing activities    
Distributions from unconsolidated joint ventures 120 135
Investment in real estate (128,873) (89,401)
Proceeds from sale of real estate 110,754 0
Improvements to real estate (7,911) (5,915)
Net cash used in investing activities (25,910) (95,181)
Financing activities    
Principal payments on mortgage notes payable (18,033) (3,393)
Proceeds from mortgage notes payable 73,500 19,250
Proceeds from bank borrowings 30,126 89,386
Payments on bank borrowings (114,448) (33,644)
Debt financing costs (2,169) (3,294)
Purchase of Company stock (113) (299)
Dividends paid on common stock (1,657) (1,655)
Dividends paid on preferred stock (2,711) (2,187)
Contributions from noncontrolling interest partners 2,731 96,285
Distributions to noncontrolling interest partners (566) (5,631)
Issuance costs for shelf registration (10) 0
Net cash (used in) provided by financing activities (33,350) 154,818
Change in cash and cash equivalents (43,694) 54,490
Cash and cash equivalents at beginning of period 75,183 19,670
Cash and cash equivalents at end of period $ 31,489 $ 74,160