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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities    
Net income (loss) $ 7,817 $ (153,966)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 59,046 38,342
Depreciation and amortization - discontinued operations 926 45,964
Amortization of above market leases 3,837 1,743
Amortization of below market leases - discontinued operations (38) (1,349)
Amortization of loan costs 1,384 1,573
Amortization of loan costs - discontinued operations 74 (400)
Share-based compensation expense 371 1,389
Deferred income tax benefit (717) (364)
Operating distributions from unconsolidated joint ventures 0 507
Gain on sale of real estate investments and recovery of mortgage loan receivable (10,314) (7,310)
Non-cash impairment loss on real estate-discontinued operations 0 128,707
Non-cash impairment loss on mortgage loan receivable 0 9,235
Equity in earnings of unconsolidated joint ventures 0 (101)
Equity in loss of unconsolidated joint ventures - discontinued operations 19 36
Change in fair value of contingent consideration 216 (12,000)
Increase in deferred leasing costs (7,103) (11,434)
Changes in operating assets and liabilities:    
Change in receivables and other assets 2,224 (20,990)
Change in accounts payable and other liabilities (6,187) 5,445
Net cash provided by operating activities 51,555 25,027
Investing activities    
Proceeds received from mortgage loan receivable 2,000 0
Distributions from unconsolidated joint ventures 120 3,201
Investment in real estate (396,893) (488,279)
Investment in other assets 0 (3,500)
Investment in management company 0 (32,400)
Proceeds from sale of real estate 117,637 200,193
Improvements to real estate (19,288) (29,120)
Net cash used in investing activities (296,424) (349,905)
Financing activities    
Principal payments on mortgage notes payable (22,390) (103,792)
Proceeds from mortgage notes payable 73,500 222,013
Proceeds from bank borrowings 277,380 241,822
Payments on bank borrowings (284,702) (238,809)
Debt financing costs (3,126) (4,828)
Purchase of Company stock (172) (336)
Dividends paid on common stock (8,335) (4,884)
Dividends paid on convertible preferred stock (1,011) 0
Dividends paid on preferred stock (10,843) (6,818)
Contributions from noncontrolling interest partners 17,447 251,168
Distributions to noncontrolling interest partners (675) (43,520)
Proceeds from stock offerings, net of transaction costs 186,169 26,143
Net cash provided by financing activities 223,242 338,159
Change in cash and cash equivalents (21,627) 13,281
Cash and cash equivalents at beginning of period 75,183 19,670
Cash and cash equivalents at end of period $ 53,556 $ 32,951