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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (61,986) $ (66,987)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity in loss of unconsolidated entities 36,372 33,076
(Gain) loss on sale of real estate, net (12,392) 1,015
Impairment of real estate assets 2,576 991
Share-based compensation 774 425
Depreciation and amortization 4,564 11,934
Amortization of deferred financing costs 105 105
Amortization of above and below market leases, net 48 65
Straight-line rent adjustment 10,842 (721)
Interest on sale-leaseback financing obligations   12
Change in operating assets and liabilities    
Tenants and other receivables 4,668 (8,340)
Prepaid expenses, deferred expenses and other assets 5,034 868
Accounts payable, accrued expenses and other liabilities (12,557) (2,491)
Net cash used in operating activities (21,952) (30,048)
CASH FLOW FROM INVESTING ACTIVITIES    
Investment in unconsolidated entities (7,665) (7,613)
Distributions from unconsolidated entities   99
Net proceeds from sale of real estate 279,985 8,467
Development of real estate (32,030) (22,474)
Net cash provided by investing activities 240,290 (21,521)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of term loan (230,000)  
Preferred dividends paid (1,225) (1,225)
Net cash (used in) provided by financing activities (231,225) (1,225)
Net decrease in cash and cash equivalents (12,887) (52,794)
Cash and cash equivalents, and restricted cash, beginning of period 144,939 113,753
Cash and cash equivalents, and restricted cash, end of period 132,052 60,959
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents at beginning of period 133,480 106,602
Restricted cash at beginning of period 11,459 7,151
Cash and cash equivalents at end of period 120,476 53,807
Restricted cash at end of period 11,576 7,152
Cash and cash equivalents and restricted cash at end of period 132,052 60,959
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 16,273 26,063
Capitalized interest 1,409 3,736
Income taxes (refunded) paid (13) 25
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Development of real estate financed with accounts payable 22,196 19,968
Preferred dividends declared and unpaid 1,225 1,225
Transfer to / (from) real estate assets held for sale $ (209,723) $ 92,078