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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss $ (38,985) $ (152,964) $ (90,603)
Adjustments to reconcile net loss to net cash used in operating activities:      
Equity in loss of unconsolidated entities 9,226 4,712 17,994
Distributions from unconsolidated entities 1,623 213 877
Gain on sale of interest in unconsolidated entities   (1,758)  
Gain on sale of real estate (221,681) (88,555) (71,104)
Impairment of real estate assets 95,826 64,108 0
Share-based compensation 1,856 (3,035) 6,845
Depreciation and amortization 51,199 95,997 104,581
Amortization of deferred financing costs 422 421 434
Amortization of above and below market leases, net 176 (1,793) (495)
Straight-line rent adjustment (2,269) 4,983 (15,590)
Interest on sale-leaseback financing obligations 202    
Change in operating assets and liabilities      
Tenants and other receivables 5,771 9,725 2,556
Prepaid expenses, deferred expenses and other assets (3,588) (179) (5,149)
Accounts payable, accrued expenses and other liabilities (35,774) 20,811 (8,006)
Net cash used in operating activities (135,996) (47,314) (57,660)
CASH FLOW FROM INVESTING ACTIVITIES      
Investment in unconsolidated entities (38,644) (62,891) (54,193)
Net proceeds from disposition of interest in unconsolidated entities   19,551  
Distributions from unconsolidated entities 12,584 1,150 1,884
Net proceeds from sale of real estate 392,422 331,878 140,505
Development of real estate (105,655) (246,820) (387,686)
Net cash provided by (used in) investing activities 260,707 42,868 (299,490)
CASH FLOW FROM FINANCING ACTIVITIES      
Repayment of Term Loan Facility (160,000)    
Proceeds from sale-leaseback financing obligations   20,425  
Purchase of shares related to stock grant recipients' tax withholdings (269) (85) (3,523)
Preferred dividends paid (4,900) (4,900) (4,900)
Common dividends paid     (17,964)
Non-controlling interests distributions paid     (10,060)
Contributions from noncontrolling interests in other partnerships 3,957    
Net cash (used in) provided by financing activities (161,212) 15,440 (36,447)
Net (decrease) increase in cash, cash equivalents, and restricted cash (36,501) 10,994 (393,597)
Cash, cash equivalents, and restricted cash, beginning of period 150,254 139,260 532,857
Cash, cash equivalents, and restricted cash, end of period 113,753 150,254 139,260
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents at beginning of period 143,728 139,260 532,857
Restricted cash at beginning of period 6,526    
Cash and cash equivalents at the end of period 106,602 143,728 139,260
Restricted cash at the end of period 7,151 6,526  
Cash and cash equivalents and restricted cash 113,753 150,254 139,260
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash payments for interest 115,359 117,866 117,556
Capitalized interest 12,464 27,130 28,497
Income taxes paid 197 293 285
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Development of real estate financed with accounts payable 27,198 20,586 17,006
Preferred dividends declared and unpaid 1,225 1,225 1,225
Decrease in real estate, net resulting from deconsolidated properties      
Real estate, net (6,650) (26,977) (17,237)
Tenants and other receivables, net   (610) (2)
Lease intangible assets, net   (567) (26)
Prepaid expenses, deferred expenses and other assets, net (761) (528) (84)
Accounts payable, accrued expenses and other liabilities   547 6
Transfer to real estate assets held for sale (1,864) (3,411) (5,275)
Transfer of below market asset to right of use asset     (11,005)
Recording (removal) of right of use assets (983) 1,598 19,373
Recording (removal) of lease liabilities $ 983 (1,598) (8,368)
Property delivered in exchange     (2,075)
Property received in exchange     $ 11,326
Property received in JV distribution   19,300  
Non-cash property investment in JV distribution   $ (19,300)