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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net (loss) income $ (4,846) $ 1,996 $ (3,798) $ 9,664
Adjustments to reconcile net (loss) to net cash provided by operating activities:        
Depreciation and amortization 21,709 19,296 63,065 57,673
Income from unconsolidated real estate partnerships (7,636) (6,870) (22,654) (20,553)
Unrealized (gains) losses on interest rate options (2,231) 998 (10,608) 2,078
Income tax benefit (2,021) (2,673) (9,881) (6,728)
Mezzanine investment income, net     (22,654) (20,553)
Share based compensation     3,750  
Amortization of debt issuance costs and other     801 335
Changes in operating assets and operating liabilities:        
Other assets, net     (10,930) (1,717)
Accounts payable, accrued liabilities and other     13,083 1,209
Net cash provided by operating activities     22,085 41,332
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of real estate     (69,601) (92,286)
Capital expenditures [1]     (134,855) (15,317)
Other investing activities [2]     (12,187) (38)
Net cash used in investing activities     (216,643) (107,641)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from construction loans     142,305  
Proceeds from non-recourse debt     59,757  
Payments of deferred loan costs     (6,634)  
Principal repayments on non-recourse property debt     (22,307) (42,816)
Principal payments on finance leases     (7,773)  
Purchase of interest rate option     (5,905) (12,245)
Change in Aimco Predecessor investment, net       122,265
Other financing activities     (859) (1,849)
Net cash provided by financing activities     158,584 65,355
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH     (35,974) (954)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD     298,735 10,120
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 262,761 9,166 262,761 9,166
Aimco OP L.P. [Member]        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net (loss) income (4,846) 1,996 (3,798) 9,664
Adjustments to reconcile net (loss) to net cash provided by operating activities:        
Depreciation and amortization 21,709 19,296 63,065 57,673
Income from unconsolidated real estate partnerships (7,636) (6,870) (22,654) (20,553)
Unrealized (gains) losses on interest rate options (2,231) 998 (10,608) 2,078
Income tax benefit (2,021) (2,673) (9,881) (6,728)
Mezzanine investment income, net     (22,654) (20,553)
Share based compensation     3,750  
Amortization of debt issuance costs and other     801 335
Changes in operating assets and operating liabilities:        
Accounts payable, accrued liabilities and other     13,083 1,209
Other assets, net     (10,930) (1,717)
Net cash provided by operating activities     22,085 41,332
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of real estate     (69,601) (92,286)
Capital expenditures [1]     (134,855) (15,317)
Other investing activities [2]     (12,187) (38)
Net cash used in investing activities     (216,643) (107,641)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from construction loans     142,305  
Proceeds from non-recourse debt     59,757  
Principal repayments on non-recourse property debt     (22,307) (42,816)
Purchase of interest rate option     (5,905) (12,245)
Change in Aimco Predecessor investment, net       122,265
Other financing activities     (859) (1,849)
Net cash provided by financing activities     158,584 65,355
Payments of deferred loan costs     (6,634)  
Principal payments on finance leases     (7,773)  
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH     (35,974) (954)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD     298,735 10,120
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 262,761 $ 9,166 262,761 9,166
Unconsolidated Real Estate Partnerships [Member]        
Adjustments to reconcile net (loss) to net cash provided by operating activities:        
Income from unconsolidated real estate partnerships     (743) (629)
Unconsolidated Real Estate Partnerships [Member] | Aimco OP L.P. [Member]        
Adjustments to reconcile net (loss) to net cash provided by operating activities:        
Income from unconsolidated real estate partnerships     $ (743) $ (629)
[1]

Capital expenditures net of accrued capital costs of $17.7 million and $0.6 million for the nine months ended September 30, 2021 and 2020, respectively.

[2]

Includes the acquisition of additional IQHQ shares.