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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net Income $ 108,667 $ 49,222
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,879 36,151
Amortization of debt deferred costs and intangibles, net 699 656
Impairment loss 43 0
Equity in earnings of real estate joint ventures and partnerships, net (4,093) (5,372)
Gain on sale and acquisition of real estate joint venture and partnership interests (37,392) (861)
Gain on sale of property (45,157) (22,522)
Distributions of income from real estate joint ventures and partnerships 338 1,024
Changes in accrued rent and accounts receivable, net 8,086 6,951
Changes in unamortized lease costs and other assets, net 168 (1,994)
Changes in accounts payable, accrued expenses and other liabilities, net (20,010) (14,762)
Other, net 1,270 8,947
Net cash provided by operating activities 50,498 57,440
Cash Flows from Investing Activities:    
Acquisition of real estate and land (496) (91,487)
Development and capital improvements (25,505) (17,401)
Proceeds from sale of property and real estate equity investments, net 106,053 33,050
Change in restricted deposits and mortgage escrows (104,171) 51,357
Real estate joint ventures and partnerships - Investments (42,025) (34)
Real estate joint ventures and partnerships - Distribution of capital 24,609 4,446
Purchase of investments (1,250) 0
Proceeds from investments 500 500
Other, net 2,481 (474)
Net cash used in investing activities (39,804) (20,043)
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 0 200,000
Principal payments of debt (3,623) (112,236)
Changes in unsecured credit facilities 30,500 (85,000)
Proceeds from issuance of common shares of beneficial interest, net 19,430 30,863
Common and preferred dividends paid (45,378) (44,914)
Debt issuance and extinguishment costs paid (4,452) (7,402)
Distributions to noncontrolling interests (2,139) (1,660)
Other, net 0 (69)
Net cash used in financing activities (5,662) (20,418)
Net increase in cash and cash equivalents 5,032 16,979
Cash and cash equivalents at January 1 22,168 [1] 23,189
Cash and cash equivalents at March 31 27,200 [1] 40,168
Interest paid during the period (net of amount capitalized of $520 and $831, respectively) $ 20,828 $ 23,471
[1] * Consolidated variable interest entities' assets and debt included in the above balances (see Note 15):