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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (7,684) $ (5,960)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization, including amortization of capitalized loan costs 18,424 18,413
Realized (gain) loss on marketable securities 1,227 0
Unrealized (gain) loss on marketable securities (2,326) 0
Share-based compensation expense 465 416
Other, net 206 320
Changes in other assets and liabilities:    
Other assets (3,602) (1,542)
Accounts payable and accrued expenses (5,127) (5,355)
Net cash provided by (used by) operating activities 6,235 6,292
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of marketable securities 1,679 0
Increase in notes receivable (6,956) 0
Proceeds from sale of real estate and other investments 0 2,912
Payments for acquisitions of real estate assets (23,712) (27,741)
Payments for improvements of real estate assets (2,841) (801)
Other investing activities (115) 109
Net cash provided by (used by) investing activities (31,945) (25,521)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on mortgages payable (1,513) (13,503)
Proceeds from revolving lines of credit 41,578 79,677
Principal payments on revolving lines of credit (8,656) (18,500)
Payments for acquisition of noncontrolling interests – consolidated real estate entities (12,221) (1,239)
Proceeds from issuance of common shares 3,352 0
Repurchase of common shares 0 (8,815)
Repurchase of Series C preferred shares (3,137) 0
Repurchase of partnership units (14) (156)
Distributions paid to common shareholders (8,469) (8,336)
Distributions paid to preferred shareholders (1,705) 0
Distributions paid to preferred unitholders (160) 0
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership (741) (957)
Other financing activities (39) (50)
Net cash provided by (used by) financing activities 8,275 28,121
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (17,435) 8,892
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 46,117 19,256
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 28,682 28,148
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued capital expenditures 1,286 1,167
Operating partnership units converted to shares (930) 0
Real estate assets acquired through exchange of note receivable 17,663 0
Note receivable exchanged through real estate acquisition (17,663) 0
Property acquired through issuance of Series D preferred units 0 16,560
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 6,481 7,350
Common Stock    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Distributions declared but not paid 9,245 0
Preferred Stock    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Distributions declared but not paid $ 0 $ 1,705