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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 29,043 $ 4,908 $ 7,677
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 9,618 10,856 14,762
Amortization of deferred financing fees 509 503 689
Loss on early extinguishment of debt 0 500 732
Loss on derivatives 0 2 26
Impairment charge 4,132 0 1,417
Income from investment in unconsolidated joint venture (17,931) 0 0
Gain on sale of real estate (21,605) (11,341) (22,771)
Other non-cash adjustments (578) (118) (80)
Changes in operating assets and liabilities:      
Decrease/(increase) in prepaid expenses and other assets 322 26 297
(Increase)/decrease in accounts receivable (247) 1,043 384
Increase/(decrease) in accounts payable, accrued property tax and accrued and other liabilities (249) (3,419) 1,997
Decrease in payables to related parties (337) (63) (33)
Net cash provided by operating activities 2,677 2,897 5,097
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in unconsolidated joint venture 0 (176) (509)
Distributions from unconsolidated joint venture 21,645 0 0
Net proceeds from sale of real estate and other assets 24,047 68,399 79,075
Additions of real estate and furniture, fixtures, and equipment (38,085) (2,474) (4,258)
Net cash provided by investing activities 7,607 65,749 74,308
CASH FLOWS FROM FINANCING ACTIVITIES:      
Financing costs (1,465) (135) (492)
Proceeds from notes payable 36,000 0 0
Payments on notes payable (52,630) (35,404) (45,094)
Purchase of interest rate derivatives 0 0 (6)
Redemptions of common stock (2,969) (1,905) (1,444)
Distributions paid on common stock 0 (38,378) (25,732)
Contributions from noncontrolling interest holders 55 92 538
Distributions to noncontrolling interest holders (5,595) (943) (2,480)
Net cash used in financing activities (26,604) (76,673) (74,710)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 468 (157) (447)
Net change in cash, cash equivalents and restricted cash (15,852) (8,184) 4,248
Cash, cash equivalents and restricted cash, beginning of year 73,212 81,396 77,148
Cash, cash equivalents and restricted cash, end of year 57,360 73,212 81,396
Supplemental cash flow information for the years indicated is as follows:      
Cash paid for interest, net of amounts capitalized 5,878 5,876 6,286
Income taxes paid, net 0 932 1,703
Debt assumed by buyer in connection with disposition of investment property (36,000) 0 0
Proceeds held in escrow through sale of real estate interests 0 0 912
Accrued distributions payable 0 0 38,378
Capital expenditures for real estate in accrued liabilities and accounts payable 51 268 224
Accrued distributions to noncontrolling interest $ 27 $ 21 $ 52