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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ 39,356 $ (7,421)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 19,049 16,048
Amortization of restricted stock 689 676
Gain on sale of real estate (35,098) (2,777)
Gain on sale of partnership interest 15,853 0
Loss on extinguishment of debt 2,668 0
Effect of deconsolidation of non-controlling interest (1,692) 0
Increases and decreases from changes in other assets and liabilities:    
(Increase) decrease in interest and dividends receivable (2,212) 16
(Increase) decrease in prepaid expenses (434) (652)
(Increase) decrease in deposits and escrows (2,567) 2,138
Decrease in other assets 2,216 3,996
Increase (decrease) in accounts payable and accrued liabilities 776 (19)
Net cash provided by operating activities 6,898 12,005
Cash flows from investing activities:    
Collections from real estate loans 0 2,000
Additions to real estate properties (189,299) (10,777)
Net costs capitalized to real estate properties (36,411) (45,784)
Purchase of non controlling interests 0 (4,679)
Proceeds from the sale of real estate properties 166,400 9,604
Proceeds from the sale of joint venture interest 19,242 0
Net cash used in investing activities (41,898) (38,583)
Cash flows from financing activities:    
Proceeds from mortgages payable 175,614 35,718
Increase in other borrowed funds 6,001 0
Mortgage payoffs (112,234) (8,473)
Mortgage amortization (3,852) 0
Loss on extinguishment of debt (2,668) 0
Increase in deferred borrowing costs (1,932) (2,684)
Capital contributions from non-controlling interests 22,639 1,419
Capital distribution to non-controlling interests (27,085) (3,975)
Proceeds from sale of New Market Tax Credits 2,746 0
Repurchase of shares of beneficial interest (2,058) (2,422)
Net cash provided by financing activities 57,171 19,583
Net increase (decrease) in cash and cash equivalents 22,171 (6,995)
Cash and cash equivalents at beginning of period 15,556 23,181
Cash and cash equivalents at end of period 37,727 16,186
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 20,069 18,235
Taxes paid 632 131
Acquisition of real estate through assumption of debt 16,051 17,173
Real estate properties reclassified to assets held for sale 27,020 68,259
Accrued costs related to real estate property 0 3,920
Mortgage payable reclassified to held for sale 26,400 0
RBHTRB Newark Holdings LLC | Variable Interest Entity, Primary Beneficiary    
Cash flows from investing activities:    
Net change in restricted cash (1,952) 7,373
Multi-Family Real Estate | Variable Interest Entity, Primary Beneficiary    
Cash flows from investing activities:    
Net change in restricted cash $ 122 $ 3,680