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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOW FROM OPERATING ACTIVITIES      
Net loss $ (120,097) $ (38,985) $ (152,964)
Adjustments to reconcile net loss to net cash used in operating activities:      
Equity in loss of unconsolidated entities 72,080 9,226 4,712
Distributions from unconsolidated entities   1,623 213
Loss (gain) on sale of interest in unconsolidated entities 677   (1,758)
Gain on sale of real estate (211,936) (221,681) (88,555)
Impairment of real estate assets 126,887 95,826 64,108
Share-based compensation 2,767 1,856 (3,035)
Depreciation and amortization 41,114 51,199 95,997
Amortization of deferred financing costs 422 422 421
Amortization of above and below market leases, net 223 176 (1,793)
Straight-line rent adjustment (1,271) (2,269) 4,983
Interest on sale-leaseback financing obligations 447 202  
Change in operating assets and liabilities      
Tenants and other receivables (10,823) 5,771 9,725
Prepaid expenses, deferred expenses and other assets 2,839 (3,588) (179)
Accounts payable, accrued expenses and other liabilities (21,252) (35,774) 20,811
Net cash used in operating activities (117,923) (135,996) (47,314)
CASH FLOW FROM INVESTING ACTIVITIES      
Investment in unconsolidated entities (25,519) (38,644) (62,891)
Net proceeds from disposition of interest in unconsolidated entities 55,670   19,551
Distributions from unconsolidated entities 11,928 12,584 1,150
Net proceeds from sale of real estate 643,294 392,422 331,878
Development of real estate (99,294) (105,655) (246,820)
Net cash provided by investing activities 586,079 260,707 42,868
CASH FLOW FROM FINANCING ACTIVITIES      
Repayment of Term Loan Facility (410,000) (160,000)  
Repayment of sales-leaseback financing obligations (22,070)    
Proceeds from sale-leaseback financing obligations     20,425
Purchase of shares related to stock grant recipients' tax withholdings   (269) (85)
Preferred dividends paid (4,900) (4,900) (4,900)
Contributions from noncontrolling interests in other partnerships   3,957  
Net cash (used in) provided by financing activities (436,970) (161,212) 15,440
Net increase (decrease) in cash, cash equivalents, and restricted cash 31,186 (36,501) 10,994
Cash, cash equivalents, and restricted cash, beginning of period 113,753 150,254 139,260
Cash, cash equivalents, and restricted cash, end of period 144,939 113,753 150,254
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents at beginning of period 106,602 143,728 139,260
Restricted cash at beginning of period 7,151 6,526  
Cash and cash equivalents at end of period 133,480 106,602 143,728
Restricted cash at end of period 11,459 7,151 6,526
Cash and cash equivalents and restricted cash 144,939 113,753 150,254
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash payments for interest 98,955 115,359 117,866
Capitalized interest 13,918 12,464 27,130
Income taxes paid 466 197 293
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Development of real estate financed with accounts payable 37,983 27,198 20,586
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)
Tenants and other receivables, net     (610)
Lease intangible assets, net     (567)
Prepaid expenses, deferred expenses and other assets, net   (761) (528)
Accounts payable, accrued expenses and other liabilities     547
Transfer to real estate assets held for sale $ 455,617 (1,864) (3,411)
Recording (removal) of right of use assets   (983) 1,598
Recording (removal) of lease liabilities   $ 983 (1,598)
Property received in JV distribution     19,300
Non-cash property investment in JV distribution     $ (19,300)