XML 17 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income (loss) $ 11,698,000 $ (11,012,000)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 73,127,000 77,418,000
Amortization of above and below market leases (405,000) (941,000)
Hedge ineffectiveness   (218,000)
Loss on sale of properties and properties held for sale, less applicable income tax   18,460,000
Equity in (income) loss of non-consolidated REITs (6,793,000) 719,000
Increase (decrease) in allowance for doubtful accounts (25,000) 25,000
Changes in operating assets and liabilities:    
Tenant rent receivables (58,000) (902,000)
Straight-line rents 821,000 (2,021,000)
Lease acquisition costs (683,000) (876,000)
Prepaid expenses and other assets (487,000) (1,945,000)
Accounts payable and accrued expenses (2,665,000) (489,000)
Accrued compensation (797,000) (784,000)
Tenant security deposits 236,000 76,000
Payment of deferred leasing commissions (11,051,000) (8,178,000)
Net cash provided by operating activities 62,918,000 69,332,000
Cash flows from investing activities:    
Property improvements, fixtures and equipment (35,901,000) (41,862,000)
Investment in non-consolidated REITs 74,931,000  
Distributions in excess of earnings from non-consolidated REITs 710,000 1,041,000
Repayment of related party mortgage receivable 795,000 9,795,000
Proceeds received on sales of real estate assets   6,160,000
Net cash provided by (used in) investing activities 40,535,000 (24,866,000)
Cash flows from financing activities:    
Distributions to stockholders (39,676,000) (61,122,000)
Borrowings under bank note payable 30,000,000 60,000,000
Repayments of bank note payable (91,000,000) (40,000,000)
Deferred financing costs (2,162,000)  
Net cash used in financing activities (102,838,000) (41,122,000)
Net increase in cash, cash equivalents and restricted cash 615,000 3,344,000
Cash, cash equivalents and restricted cash, beginning of year 9,819,000 9,366,000
Cash, cash equivalents and restricted cash, end of period 10,434,000 12,710,000
Cash paid for:    
Interest 25,388,000 21,885,000
Taxes 485,000 583,000
Non-cash investing and financing activities:    
Accrued costs for purchases of real estate assets $ 9,465,000 $ 6,053,000