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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Oct. 31, 2018
Oct. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (1,895) $ (140)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization, including amortization of capitalized loan costs 38,522 43,176
Depreciation and amortization from discontinued operations, including amortization of capitalized loan costs 0 7,077
(Gain) loss on sale of real estate, land, other investments and discontinued operations (9,562) (17,686)
Share-based compensation expense 580 751
Other, net 956 1,164
Changes in other assets and liabilities:    
Other assets (725) (1,853)
Accounts payable and accrued expenses (662) (4,756)
Net cash provided by operating activities 27,214 27,733
CASH FLOWS FROM INVESTING ACTIVITIES    
Principal proceeds on mortgage loans receivable 425 0
Increase in notes receivable (736) (6,126)
Proceeds from sale of discontinued operations 0 35,775
Proceeds from sale of real estate and other investments 52,156 18,039
Insurance proceeds received 1,266 530
Payments for acquisitions of real estate assets (837) (154,122)
Payments for development and re-development of real estate assets 0 (2,817)
Payments for improvements of real estate assets (8,547) (10,178)
Payments for improvements of real estate assets from discontinued operations 0 (803)
Net cash provided by (used by) investing activities 43,727 (119,702)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable, including prepayment penalties (63,481) (52,143)
Proceeds from revolving lines of credit 53,017 293,350
Principal payments on revolving lines of credit (107,517) (102,900)
Proceeds from term loan 74,352 0
Proceeds from construction debt 0 3,124
Payment on financing liability 0 (7,900)
Repurchase of common shares (615) (6,253)
Proceeds from issuance of Series C preferred shares, net of issue costs 0 99,467
Repurchase of Series B preferred shares 0 (115,005)
Repurchase of partnership units (482) (5,982)
Distributions paid to common shareholders (16,724) (16,881)
Distributions paid to preferred shareholders (3,411) (5,333)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership (1,960) (2,089)
Distributions paid to noncontrolling interests – consolidated real estate entities (2,374) (40)
Net cash provided by (used by) financing activities (69,195) 81,415
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,746 (10,554)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 16,116 56,800
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 17,862 46,246
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Operating partnership units converted to shares 649 0
Decrease to accounts payable included within real estate investments (329) (2,106)
Notes and accounts receivable converted to equity 670 0
Construction debt reclassified to mortgages payable 0 23,300
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest $ 17,059 $ 17,122