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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flow From Operating Activities:    
Net loss $ (101) $ (5,015)
Adjustments to reconcile net loss applicable to common shares to net cash flows from operating activities:    
Gain on sale of land (1,335) (445)
Depreciation and amortization 6,446 6,303
Amortization of deferred borrowing costs 986 1,053
Amortization of bond issuance costs 299 141
(Earnings) loss from unconsolidated joint ventures and investees (11) 8
(Increase) decrease in assets:    
Accrued interest receivable (2,779) 1,746
Other assets (1,468) (1,634)
Prepaid expense 7,365 (1,734)
Rent receivables 259 (1,524)
Related party receivables (1,599) 1,980
Increase (decrease) in liabilities:    
Accrued interest payable (2,556) 846
Other liabilities (3,821) (10,888)
Net cash provided by (used in) operating activities 1,685 (9,163)
Cash Flow From Investing Activities:    
Proceeds from notes receivable 706
Originations or advances on notes receivable (8,080)  
Proceeds from insurance claim 413
Acquisition of land held for development (6,400)
Proceeds from sale of income-producing properties 2,128  
Proceeds from sale of land 2,636 1,089
Improvement of land held for development (1,154)
Improvement of income-producing properties (633) (1,031)
Construction and development of new properties (20,117) (8,406)
Net cash used in investing activities (24,066) (14,783)
Cash Flow From Financing Activities:    
Proceeds from notes payable 17,343 47,577
Recurring amortization of principal on notes payable (7,415) (3,423)
Payments on maturing notes payable (16,750) (59,392)
Proceeds from bonds 39,399 75,991
Bond issuance costs (2,022) (4,829)
Deferred financing costs (1,162)
Preferred stock dividends - Series D (222) (222)
Net cash provided by financing activities 30,333 54,540
Net increase (decrease) in cash, cash equivalents and restricted cash 7,952 30,594
Cash, cash equivalents and restricted cash, beginning of period 88,342 55,733
Cash, cash equivalents and restricted cash, end of period 96,294 86,327
Supplemental disclosures of cash flow information:    
Cash paid for interest 13,301 $ 12,205
Schedule of noncash investing and financing activities:    
Notes receivable received from sale of income-producing properties $ 6,384