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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (11,388) $ (18,016)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 33,812 43,834
Amortization of deferred financing costs 5,012 2,300
Accretion of below- and amortization of above-market lease liabilities and assets, net (3,341) (4,913)
Equity-based compensation (8,363) 2,437
Loss on derivative instruments 358 4
Income from unconsolidated joint venture (1,845) (805)
Gain on sale of real estate investment, net (6,630) 0
Gain on sale of investment securities 0 (48)
Bad debt expense 247 556
Changes in assets and liabilities:    
Tenant and other receivables (992) 89
Unbilled rent receivables (4,149) (8,726)
Prepaid expenses, other assets and deferred costs (498) (3,274)
Accrued unbilled ground rent 1,372 1,774
Accounts payable and accrued expenses 2,204 1,189
Deferred revenue 296 (69)
Net cash provided by operating activities 6,095 16,332
Cash flows from investing activities:    
Proceeds from sale of real estate investments and redemption of preferred equity investment 35,429 35,100
Acquisition funds released from escrow 0 4,551
Capital expenditures (9,722) (12,940)
Distributions from unconsolidated joint venture 16,101 0
Proceeds from sale of investment securities 0 1,098
Purchase of investment securities 0 (42)
Net cash provided by investing activities 41,808 27,767
Cash flows from financing activities:    
Payments on mortgage notes payable (19,144) (244)
Refund (payments) of financing costs 19 (157)
Dividends paid (37,881) (37,305)
Distributions to non-controlling interest holders (1,475) (1,361)
Redemptions of restricted shares (172) 0
Restricted cash 276 (58)
Net cash used in financing activities (58,377) (39,125)
Net increase (decrease) in cash and cash equivalents (10,474) 4,974
Cash and cash equivalents, beginning of period 98,604 22,512
Cash and cash equivalents, end of period 88,130 27,486
Supplemental disclosures:    
Cash paid for interest 14,214 9,761
Non-cash investing and financing activities:    
Dividends payable 17 48
Accrued capital expenditures 17 2,546
Conversion of OP units to common stock $ 24,001 $ 974