XML 76 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income (loss) $ 12,065 $ (6,837) $ (18,232)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Real estate-related depreciation and amortization 96,510 111,942 111,649
Equity in income of unconsolidated joint venture partnerships (4,140) (8,736) (1,479)
Straight-line rent and amortization of above- and below-market leases (6,279) (9,922) (12,118)
Net gain on disposition of real estate properties (6,083) (3,550) (44)
Other 4,202 3,291 3,804
Changes in operating assets and liabilities:      
Tenant receivables and other assets (1,958) 445 301
Accounts payable, accrued expenses and other liabilities (6,612) 5,050 3,262
Due from / to affiliates, net 425 760 (3,494)
Net cash provided by operating activities 88,130 92,443 83,649
Investing activities:      
Real estate acquisitions (3,624) (39,918) (293,444)
Acquisition deposits 0 (100) (834)
Proceeds from the disposition of real estate properties 24,978 20,631 15,340
Capital expenditures and development activities (47,745) (43,916) (43,236)
Investment in unconsolidated joint venture partnerships (25,860) (20,810) (41,218)
Distributions from joint venture partnerships 11,600 18,000 5,730
Net proceeds from sale of joint venture partnership ownership interest 0 4,235 0
Other (2,579) 0 0
Net cash used in investing activities (43,230) (61,878) (357,662)
Financing activities:      
Proceeds from line of credit 128,000 138,000 360,000
Repayments of line of credit (74,000) (89,000) (266,000)
Proceeds from mortgage note 0 0 105,000
Repayments of mortgage notes (2,191) (1,354) 0
Financing costs paid 0 (334) (777)
Proceeds from issuance of common stock 0 0 146,217
Offering costs paid related to issuance of common stock (626) (614) (10,740)
Distributions paid to common shareholders (57,830) (44,627) (39,911)
Dividends paid on noncontrolling interests 0 0 (116)
Distribution fees paid (8,883) (7,445) (6,525)
Redemptions of common stock (19,376) (24,890) (16,111)
Net cash (used in) provided by financing activities (34,906) (30,264) 271,037
Net increase (decrease) in cash, cash equivalents and restricted cash 9,994 301 (2,976)
Cash, cash equivalents and restricted cash, at beginning of period 5,763 5,462 8,438
Cash, cash equivalents and restricted cash, at end of period $ 15,757 $ 5,763 $ 5,462