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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (152,542) $ (36,129)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Equity in (earnings) losses of unconsolidated ventures 35,756 4,629
Depreciation and amortization 32,984 38,361
Impairment loss 91,437 10,146
Capitalized interest for mortgage and other notes payable 222 193
Amortization of below market debt 1,536 1,497
Straight-line rental income, net and amortization of lease inducements 70 (428)
Amortization of discount/accretion of premium on investments (61) (55)
Amortization of deferred financing costs 941 909
Amortization of equity-based compensation 77 91
Realized (gain) loss on investments and other 0 (5,722)
Allowance for uncollectible accounts 1,004 460
Issuance of common stock as payment for asset management fees 5,000 5,000
Changes in assets and liabilities:    
Receivables (1,282) 53
Other assets (298) 48
Due to related party (2,332) (2,033)
Escrow deposits payable 371 35
Accounts payable and accrued expenses 4,516 (7,741)
Other liabilities 34 (836)
Net cash provided by operating activities 17,433 8,478
Cash flows from investing activities:    
Capital expenditures for operating real estate investments (5,362) (8,158)
Sale of operating real estate 0 19,618
Investment in unconsolidated ventures 0 (39,801)
Distributions from unconsolidated ventures 1,765 12,079
Other assets (290) 583
Net cash (used in) provided by investing activities (3,887) (15,679)
Cash flows from financing activities:    
Repayment of mortgage notes (8,112) (27,865)
Borrowings from line of credit - related party 35,000 0
Payments under finance leases (307) (284)
Shares redeemed for cash (1,998) (5,182)
Distributions paid on common stock 0 (10,813)
Proceeds from distribution reinvestment plan 0 4,876
Contributions from non-controlling interests 93 318
Distributions to non-controlling interests (139) (139)
Net cash (used in) provided by financing activities 24,537 (39,089)
Net (decrease) increase in cash, cash equivalents and restricted cash 38,083 (46,290)
Cash, cash equivalents and restricted cash-beginning of period 58,820 94,508
Cash, cash equivalents and restricted cash-end of period 96,903 48,218
Supplemental disclosure of non-cash investing and financing activities:    
Accrued capital expenditures 500 $ 609
Assets acquired under finance leases $ 112