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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (12,131) $ 262,067
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 82,629 112,902
Impairment charges on real estate 19,896 8,706
Noncash interest income on real estate loan receivable (1,172) 0
Provision for credit loss 680 0
Equity in loss of an unconsolidated entity 1,408 2,556
Distribution of operating cash flow from an unconsolidated entity 19,314 0
Deferred rents (4,041) (4,245)
Amortization of above- and below-market leases, net (2,137) (2,832)
Amortization of deferred financing costs 3,184 4,346
Unrealized losses on derivative instruments 29,484 41,706
Loss from extinguishment of debt 188 2,229
Gain on sale of real estate (50,959) (327,311)
Changes in operating assets and liabilities:    
Rents and other receivables (4,532) (2,206)
Prepaid expenses and other assets (11,827) (33,140)
Accounts payable and accrued liabilities (4,428) (2,688)
Other liabilities 5,746 (11,124)
Due to (from) affiliates 2,119 (2,583)
Net cash provided by operating activities 73,421 48,383
Cash Flows from Investing Activities:    
Improvements to real estate (70,835) (57,738)
Proceeds from sale of real estate, net 26,592 931,589
Proceeds from the sale of equity securities 0 16,186
Payments for construction in progress (3,277) (19,818)
Origination costs on real estate loan receivable (120) 0
Payments of post-closing acquisition costs 0 (1,014)
Escrow deposits for tenant improvements 0 972
Insurance proceeds received for property damage 0 867
Net cash (used in) provided by investing activities (47,640) 871,044
Cash Flows from Financing Activities:    
Proceeds from notes payable 104,510 322,590
Principal payments on notes payable (74,202) (1,107,218)
Payments of deferred financing costs (2,811) (2,508)
Payments to redeem common stock (8,635) (97,672)
Payments of prepaid other offering costs (1,032) 0
Payments of other offering costs (15) (3)
Distribution to noncontrolling interest (6,400) 0
Distributions paid to common stockholders (46,778) (46,525)
Net cash used in financing activities (35,363) (931,336)
Net decrease in cash, cash equivalents and restricted cash (9,582) (11,909)
Cash, cash equivalents and restricted cash, beginning of period 49,272 76,038
Cash, cash equivalents and restricted cash, end of period 39,690 64,129
Supplemental Disclosure of Cash Flow Information:    
Interest paid, net of capitalized interest of $1,711 for the nine months ended September 30, 2019 39,293 62,199
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Equity securities received in connection with the portfolio sale 0 271,000
Distributions payable 9,142 9,343
Redeemable common stock payable 0 11,658
Accrued improvements to real estate 14,900 23,553
Construction in progress payable 0 5,011
Acquisition fee related to construction in progress due to affiliate 0 1,091
Real estate loan receivable provided to purchaser of real estate 147,678 0
Accrued prepaid other offering costs 705 58
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan $ 35,277 $ 39,219