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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flow From Operating Activities:      
Net income (loss) $ 183,040 $ (15,316) $ 322
Adjustments to reconcile net loss applicable to common shares to net cash flows from operating activities:      
Gain on disposition of 50% interest in VAA (154,126)    
Gain on sale of income-producing properties   (9,842) (16,207)
Gain on sale of land (17,404) (4,884) (3,121)
Depreciation and amortization 22,761 25,558 23,683
Amortization of deferred borrowing costs 4,994 3,574 4,314
Amortization of bond issuance costs 2,994 971  
Equity earnings from VAA (44)    
Earnings from other unconsolidated investees (1,085) (26) 26
(Increase) decrease in assets:      
Accrued interest receivable (22,601) (668) (922)
Other assets (105,531) (1,433) (2,388)
Prepaid expense 19,124 (5,661) (9,238)
Rent receivables (3,213) 543 2,840
Related party receivables (14,995) (9,972) (11,134)
Increase (decrease) in liabilities:      
Accrued interest payable (2,307) 4,573 20
Other liabilities (92,794) (12,491) 14,062
Net cash (used in) operating activities (181,187) (25,074) 2,205
Cash Flow From Investing Activities:      
Proceeds from disposition of 50% interest in VAA 236,752    
Proceeds from notes receivable 6,541 26,230 2,867
Originations or advances on notes receivable (16,801) (16,420) (11,703)
Acquisition of land held for development     (12,508)
Acquisition of income-producing properties (10,558) (37,044) (79,736)
Proceeds from sale of income-producing properties 4,889   21,850
Proceeds from sale of land 11,857 6,301 29,128
Investment in unconsolidated real estate entities     2,797
Improvement of land held for development     (3,023)
Improvement of income-producing properties (3,688) (64,443) (5,702)
Construction and development of new properties (81,367) (12,936) (10,836)
Net cash provided by (used in) investing activities 147,625 (98,312) (66,866)
Cash Flow From Financing Activities:      
Proceeds from notes payable 123,345 135,116 242,215
Recurring payment of principal on notes payable (107,866) (83,070) (20,205)
Payments on maturing notes payable (16,750)   (160,745)
Proceeds from bonds 59,213 115,335  
Bond issuance costs (5,257) (6,887)  
Deferred financing costs   (3,599) 798
Preferred stock dividends - Series D (900) (900) (900)
Net cash provided by financing activities 51,785 155,995 61,163
Net increase (decrease) in cash, cash equivalents and restricted cash 18,223 32,609 (3,498)
Cash, cash equivalents and restricted cash, beginning of period 88,342 55,733 59,231
Cash, cash equivalents and restricted cash, end of period 106,565 88,342 55,733
Supplemental disclosures of cash flow information:      
Cash paid for interest 61,587 $ 49,791 $ 43,986
Schedule of noncash investing and financing activities:      
Notes receivable received from sale of income-producing properties 1,735    
Seller financing note - acquisition of income-producing properties 1,895    
Notes payable issued on acquisition of income-producing properties $ 31,175