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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Net (loss) income $ (15,181,000) $ 33,324,000 $ 210,580,000
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Loss due to property damages 0 964,000 668,000
Casualty-related loss 506,000 0 0
Equity in (income) loss of unconsolidated entities (6,621,000) 9,830,000 6,037,000
Depreciation and amortization 34,004,000 35,006,000 53,446,000
Other-than-temporary impairment of debt securities 0 2,500,000 0
(Gain) loss on real estate equity securities (20,379,000) 19,010,000 0
Gain on real estate sale (34,077,000) (80,594,000) (255,935,000)
Loss on extinguishment of debt 1,106,000 493,000 478,000
Subordinated performance fee due upon termination 32,640,000 0 0
Unrealized loss on interest rate caps 50,000 142,000 105,000
Deferred rent (4,078,000) (4,736,000) (2,416,000)
Bad debt expense 0 161,000 724,000
Amortization of above- and below-market leases, net (1,091,000) (1,152,000) (2,575,000)
Amortization of deferred financing costs 3,606,000 3,640,000 4,363,000
Interest accretion on real estate debt securities (13,000) (108,000) (565,000)
Net amortization of (premium) and discount on bond and notes payable (99,000) 61,000 49,000
Foreign currency transaction loss (gain), net 12,498,000 (10,141,000) 15,298,000
Changes in assets and liabilities:      
Rents and other receivables (1,548,000) (1,801,000) (1,810,000)
Prepaid expenses and other assets (5,137,000) (7,375,000) (5,995,000)
Accounts payable and accrued liabilities (2,334,000) 3,387,000 (4,270,000)
Due to affiliates 1,606,000 10,000 (29,000)
Other liabilities 386,000 (478,000) (4,721,000)
Net cash (used in) provided by operating activities (4,156,000) 2,143,000 13,432,000
Cash Flows from Investing Activities:      
Acquisitions of real estate 90,266,000 312,348,000 165,465,000
Cash paid to acquire PORT, net of cash acquired (46,864,000) 0 0
Improvements to real estate (32,472,000) (32,172,000) (41,224,000)
Proceeds from sales of real estate, net 141,548,000 250,576,000 872,091,000
Reimbursement of construction costs 0 1,636,000 0
Insurance proceeds received for property damages 438,000 0 744,000
Purchase of interest rate caps (28,000) (163,000) (107,000)
Purchase of foreign currency option 0 0 (3,434,000)
Proceeds from termination of foreign currency collars 0 0 6,557,000
Contributions to unconsolidated entities (31,845,000) (1,320,000) 0
Distribution of capital from unconsolidated entities 8,051,000 2,198,000 59,800,000
Investment in real estate equity securities (15,224,000) (30,609,000) (43,308,000)
Proceeds from the sale of real estate equity securities 28,033,000 27,786,000 0
Investment in real estate debt securities, net 0 0 (12,514,000)
Proceeds from principal repayment on real estate debt securities 7,750,000 4,500,000 0
Proceeds for future development obligations 0 2,113,000 1,367,000
Funding of development obligations (134,000) (1,258,000) (1,184,000)
Net cash (used in) provided by investing activities (31,013,000) (89,061,000) 673,323,000
Cash Flows from Financing Activities:      
Proceeds from notes and bonds payable 84,268,000 223,425,000 187,204,000
Principal payments on notes and bonds payable (126,603,000) (152,516,000) (477,089,000)
Payments of deferred financing costs (1,123,000) (3,391,000) (2,396,000)
Payments to redeem common stock (10,028,000) (123,613,000) (74,780,000)
Payment of prepaid other offering costs (157,000) (562,000) (480,000)
Distributions paid (886,000) (70,980,000) (7,229,000)
Noncontrolling interests contributions 13,000 762,000 158,000
Distributions to noncontrolling interests (3,869,000) 0 (22,000)
Proceeds for noncontrolling preferred stock, net 15,008,000 0 0
Other financing proceeds, net 1,822,000 0 0
Net cash used in financing activities (41,555,000) (126,875,000) (374,634,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,491,000 (662,000) 611,000
Net (decrease) increase in cash, cash equivalents and restricted cash (74,233,000) (214,455,000) 312,732,000
Cash, cash equivalents and restricted cash, beginning of period 162,727,000 377,182,000 64,450,000
Cash, cash equivalents and restricted cash, end of period $ 88,494,000 $ 162,727,000 $ 377,182,000