XML 21 R5.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net loss $ (20,330) $ (25,574) $ (23,944)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 11,035 13,059 12,379
Amortization of deferred financing fees 649 665 1,261
(Gain) loss on early extinguishment of debt (1,624) 0 246
Loss on retirement of asset 16 108 0
Gain on sale of real estate (3,027) 0 (476)
Impairment charge 9,247 12,301 9,371
Bad debt expense (recovery) 75 58 (137)
Equity in (earnings) losses of unconsolidated joint ventures 1,615 1,008 170
Loss on derivatives 0 0 86
Change in operating assets and liabilities:      
Accounts receivable 119 776 (597)
Condominium inventory 2,201 5 0
Prepaid expenses and other assets 319 (344) (27)
Accounts payable 262 (247) 205
Accrued and other liabilities 1,839 3,438 170
Payables to related parties (219) (376) 351
Lease intangibles (285) (358) (493)
Cash provided by (used in) operating activities (1,338) 2,503 (1,775)
Cash flows from investing activities:      
Proceeds from sale of real estate 21,854 0 1,743
Additions of property and equipment (10,136) (34,360) (13,337)
Change in restricted cash 27 (760) (3,230)
Distributions received from unconsolidated joint venture 202 520 452
Cash provided by (used in) investing activities 11,947 (34,600) (14,372)
Cash flows from financing activities:      
Financing costs 0 0 (1,475)
Borrowing costs paid on extinguishment of debt 0 0 590
Proceeds from notes payable 8,237 18,679 63,465
Payments on notes payable (20,506) (1,616) (47,825)
Contributions received from noncontrolling interest holders 0 765 791
Cash provided by (used in) financing activities (12,269) 17,828 14,366
Effect of exchange rate changes on cash and cash equivalents 0 0 0
Net change in cash and cash equivalents (1,660) (14,269) (1,781)
Cash and cash equivalents at beginning of the year 20,746 35,015 36,796
Cash and cash equivalents at end of the year $ 19,086 $ 20,746 $ 35,015