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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 9,415 $ 32,025
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization, including amortization of capitalized loan costs 56,070 56,169
(Gain) loss on sale of real estate and other investments (25,486) (39,774)
Realized (gain) loss on marketable securities 3,378 0
(Gain) loss on litigation settlement 0 (1,349)
Share-based compensation expense 1,521 1,452
Other, net 2,393 2,476
Changes in other assets and liabilities:    
Other assets (1,632) (705)
Accounts payable and accrued expenses 1,599 1,348
Net cash provided by (used by) operating activities 47,258 51,642
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of marketable securities 3,856 0
Proceeds from repayment of mortgage loans receivable 10,020 0
Increase in mortgages and notes receivable (18,187) (159)
Proceeds from sale of real estate and other investments 43,669 93,804
Payments for acquisitions of real estate assets (168,411) (156,650)
Payments for improvements of real estate assets (20,411) (11,860)
Other investing activities 892 247
Net cash provided by (used by) investing activities (148,572) (74,618)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from mortgages payable 0 59,900
Principal payments on mortgages payable (17,233) (145,279)
Proceeds from revolving lines of credit 126,578 223,643
Principal payments on revolving lines of credit (41,656) (178,000)
Proceeds from notes payable 0 124,878
Payments for acquisition of noncontrolling interests – consolidated real estate entities (12,221) (1,260)
Proceeds from issuance of common shares 58,204 0
Repurchase of common shares 0 (18,023)
Repurchase of Series C preferred shares (5,629) 0
Repurchase of partnership units (48) (8,135)
Distributions paid to common shareholders (25,962) (32,925)
Distributions paid to preferred shareholders (4,921) (5,116)
Distributions paid to preferred unitholders (480) (377)
Distributions paid to noncontrolling interests – Unitholders of the Operating Partnership (2,187) (3,630)
Other financing activities (245) (117)
Net cash provided by (used by) financing activities 74,200 15,559
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (27,114) (7,417)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 46,117 19,256
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 19,003 11,839
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Accrued capital expenditures (297) 9
Gain on litigation settlement 0 1,349
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 19,527 22,746
Cash and cash equivalents 16,804 8,500
Restricted cash 2,199 3,339
Common Stock    
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Distributions declared but not paid $ 9,796 $ 0