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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 income (loss) $ (170,700) $ (50,826)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Equity in (earnings) losses of unconsolidated ventures 36,799 7,666
Depreciation and amortization 48,929 54,525
Impairment loss 91,437 10,146
Capitalized interest for mortgage and other notes payable 222 193
Amortization of below market debt 2,311 2,253
Straight-line rental income, net and amortization of lease inducements 224 (478)
Amortization of discount/accretion of premium on investments (92) (83)
Amortization of deferred financing costs 1,416 1,367
Amortization of equity-based compensation 123 136
Realized (gain) loss on investments and other 0 (5,926)
Allowance for uncollectible accounts 1,803 595
Issuance of common stock as payment for asset management fees 7,500 7,500
Changes in assets and liabilities:    
Receivables (4,363) (790)
Other assets 4,961 (644)
Due to related party (1,896) (1,330)
Escrow deposits payable 1,137 1,739
Accounts payable and accrued expenses 8,274 (5,257)
Other liabilities (105) (743)
Net cash provided by operating activities 27,980 20,043
Cash flows from investing activities:    
Capital expenditures for operating real estate (8,990) (14,644)
Sale of operating real estate 927 19,618
Investment in unconsolidated ventures 0 (39,801)
Distributions from unconsolidated ventures 1,963 16,846
Other assets (35) 934
Net cash (used in) investing activities (6,135) (17,047)
Cash flows from financing activities:    
Borrowings from mortgage notes 0 12,800
Repayment of mortgage notes (14,418) (45,868)
Borrowings from line of credit - related party 35,000 0
Payment of deferred financing costs 0 (708)
Payments under finance leases (457) (424)
Shares redeemed for cash (1,998) (7,416)
Distributions paid on common stock 0 (10,813)
Proceeds from distribution reinvestment plan 0 4,876
Contributions from non-controlling interests 168 430
Distributions to non-controlling interests (151) (213)
Net cash provided by (used in) financing activities 18,144 (47,336)
Net increase (decrease) in cash, cash equivalents and restricted cash 39,989 (44,340)
Cash, cash equivalents and restricted cash-beginning of period 58,820 94,508
Cash, cash equivalents and restricted cash-end of period 98,809 50,168
Supplemental disclosure of non-cash investing and financing activities:    
Accrued capital expenditures 616 835
Assets acquired under finance leases $ 112 $ 0