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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
CASH FLOW FROM OPERATING ACTIVITIES        
Net income (loss) $ (10,602) $ (34,867) $ 5,599 $ (67,711)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Equity in loss of unconsolidated joint ventures 2,158 1,542 4,740 540
Gain on sale of real estate     (76,018)  
Unrealized loss on interest rate cap 172 124 7 595
Stock-based compensation     3,379 779
Depreciation and amortization 49,551 50,571 84,218 109,234
Amortization of deferred financing costs     3,590 4,061
Amortization of above and below market leases, net     (414) (594)
Straight-line rent adjustment     (2,832) (3,479)
Change in operating assets and liabilities        
Tenants and other receivables     (3,076) 265
Prepaid expenses, deferred expenses and other assets     (2,968) 461
Accounts payable, accrued expenses and other liabilities     (20) (22,451)
Net cash provided by operating activities     16,205 21,700
CASH FLOW FROM INVESTING ACTIVITIES        
Investment in unconsolidated joint ventures     (6,160) (15,047)
Distributions from unconsolidated joint ventures     8,505 7,515
Net proceeds from sale of real estate     134,599  
Development of real estate     (142,003) (106,075)
Net cash used in investing activities     (5,059) (113,607)
CASH FLOW FROM FINANCING ACTIVITIES        
Repayment of mortgage loans payable     (131,414)  
Proceeds from Future Funding Facility       79,998
Proceeds from Unsecured Term Loan       85,000
Payment of deferred financing costs     (363) (2,449)
Offering related costs     (113)  
Preferred dividends paid     (1,661)  
Common dividends paid     (17,865) (16,913)
Non-controlling interests distributions paid     (10,058) (10,935)
Net cash (used in) provided by financing activities     (161,474) 134,701
Net increase (decrease) in cash, cash equivalents, and restricted cash     (150,328) 42,794
Cash, cash equivalents, and restricted cash, beginning of period     417,234 139,642
Cash, cash equivalents, and restricted cash, end of period 266,906 182,436 266,906 182,436
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION        
Cash payments for interest     43,296 33,984
Capitalized interest     12,144 3,361
Income taxes paid     344 266
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES        
Development of real estate financed with accounts payable     14,465 12,100
Dividends and distribution declared and unpaid     14,046 13,969
Decrease in real estate, net resulting from deconsolidated properties     (156,568)  
Transfer to real estate assets held for sale     15,139  
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH        
Cash and cash equivalents 100,448 9,873 100,448 9,873
Restricted cash 166,458 172,563 166,458 172,563
Cash, cash equivalents, and restricted cash, end of period $ 266,906 $ 182,436 $ 266,906 $ 182,436