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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income (loss) $ 31,557 $ (38,289) $ 34,648 $ (33,422)  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation and amortization     93,601 101,627  
Straight-line rents     (4,244) (4,022)  
Non-cash lease expense     2,887 2,382  
Net unrealized holding gains on investments     (55,796) (57,031)  
Distributions of operating income from unconsolidated affiliates     2,004 2,829  
Equity in (earnings) losses of unconsolidated affiliates (644) 624 (4,013) 155  
Stock compensation expense     9,780 8,551  
Amortization of financing costs     3,901 4,040  
Impairment charges 9,925 0 9,925 51,549  
Gain on disposition of properties 0 (24) (10,521) (509)  
Allowance for credit loss     973 20,509  
Termination of ground lease     (3,615) 0  
Adjustments to straight-line rent reserves     254 19,678  
Other, net     (5,319) (3,228)  
Changes in assets and liabilities:          
Other liabilities     1,833 (7,736)  
Lease liability - operating leases     (2,653) (957)  
Prepaid expenses and other assets     (5,579) (1,435)  
Rents receivable     4,104 (27,489)  
Accounts payable and accrued expenses     220 7,015  
Net cash provided by operating activities     72,390 82,506  
CASH FLOWS FROM INVESTING ACTIVITIES          
Acquisition of real estate     (63,425) (21,208)  
Development, construction and property improvement costs     (27,197) (29,374)  
Proceeds from the disposition of properties, net     63,901 14,182  
Investments in and advances to unconsolidated affiliates and other     (6,111) (3,662)  
Return of capital from unconsolidated affiliates and other     10,671 9,054  
Issuance of notes receivable     (57,957) (59,000)  
Return of deposits for properties under contract     (0) 187  
Payment of deferred leasing costs     (3,509) (5,422)  
Change in control of previously unconsolidated affiliate     0 950  
Net cash used in investing activities     (83,627) (94,293)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Principal payments on mortgage and other notes     (69,766) (18,981)  
Principal payments on unsecured debt     (160,387) (123,750)  
Proceeds received on mortgage and other notes     12,654 5,523  
Proceeds from unsecured debt     211,854 215,554  
Payments of finance lease obligations     (63) (903)  
Proceeds from the sale (repurchase) of Common Shares     45,865 (22,386)  
Capital contributions from noncontrolling interests     26,627 36,736  
Distributions to noncontrolling interests     (23,781) (28,418)  
Dividends paid to Common Shareholders     (26,208) (50,182)  
Deferred financing and other costs     (7,296) (1,635)  
Net cash provided by financing activities     9,499 11,558  
Decrease in cash and restricted cash     (1,738) (229)  
Cash of $19,232 and $15,845 and restricted cash of $14,692 and $14,165, respectively, beginning of period     33,924 30,010 $ 30,010
Cash of $17,359 and $16,108 and restricted cash of $14,827 and $13,673, respectively, end of period $ 32,186 $ 29,781 32,186 29,781 $ 33,924
Supplemental disclosure of cash flow information          
Cash paid during the period for interest, net of capitalized interest of $2,723 and $8,430 respectively     31,807 40,470  
Cash paid for income taxes, net of refunds     253 282  
Supplemental disclosure of non-cash investing and financing activities          
Right-of-use, assets operating leases modified in exchange for operating lease liabilities     412 0  
Assumption of accounts payable and accrued expenses through acquisition of real estate     523 116  
Acquisition of real estate through assumption of debt     31,802  
Distribution declared and payable on October 15, 2021 and 2020, respectively     14,314 123  
Settlement of note receivable through cancellation of OP Units     479  
Right-of-use assets, finance leases obtained in exchange for assets under capital lease     (70,427)  
Right-of-use assets, operating leases exchanged for operating lease liabilities     33,189  
Right of use assets operating leases obtained (terminated) in exchange for finance lease liabilities     (1,432)  
Change in control of previously unconsolidated (consolidated) investment          
Increase in real estate       (135,190)  
Decrease in investments in and advances to unconsolidated affiliates       96,816  
Change in other assets and liabilities       1,238  
Acquisition of noncontrolling interest asset       (588)  
Decrease in notes receivable       38,674  
Increase in cash and restricted cash upon change of control       $ 950