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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
CASH FLOW FROM OPERATING ACTIVITIES      
Net income (loss) $ 17,276 $ (29,145) $ (50,435)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Equity in loss of unconsolidated joint ventures 3,686 7,006 4,226
Gain on sale of real estate   (93,419) (13,018)
Gain on sale of interest in unconsolidated joint venture (43,729)   (43,729)
Loss on interest rate cap 91 23 686
Stock-based compensation   5,589 1,167
Depreciation and amortization 61,059 134,048 170,293
Amortization of deferred financing costs   10,221 6,390
Amortization of above and below market leases, net   (590) (581)
Straight-line rent adjustment   (1,750) (2,364)
Change in operating assets and liabilities      
Tenants and other receivables   (2,262) (3,444)
Prepaid expenses, deferred expenses and other assets   (14,092) (7,300)
Accounts payable, accrued expenses and other liabilities   (1,333) (15,657)
Net cash provided by operating activities   14,296 46,234
CASH FLOW FROM INVESTING ACTIVITIES      
Investment in unconsolidated joint ventures   (19,522) (36,038)
Distributions from unconsolidated joint ventures   11,889 10,714
Net proceeds from disposition of interest in unconsolidated joint ventures     189,391
Net proceeds from sale of real estate   170,692 50,887
Development of real estate   (210,335) (164,070)
Net cash (used in) provided by investing activities   (47,276) 50,884
CASH FLOW FROM FINANCING ACTIVITIES      
Repayment of mortgage loans payable   (1,210,561) (50,634)
Repayment of Unsecured Term Loan   (145,000)  
Proceeds from Term Loan Facility   1,600,000  
Proceeds from Future Funding Facility     79,998
Proceeds from Unsecured Term Loan     85,000
Payment of deferred financing costs   (2,205) (2,686)
Offering related costs   (113)  
Preferred dividends paid   (2,886)  
Common dividends paid   (26,780) (25,379)
Non-controlling interests distributions paid   (15,088) (16,393)
Net cash provided by financing activities   197,367 69,906
Net increase in cash, cash equivalents, and restricted cash   164,387 167,024
Cash, cash equivalents, and restricted cash, beginning of period   417,234 139,642
Cash, cash equivalents, and restricted cash, end of period 306,666 581,621 306,666
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION      
Cash payments for interest   74,475 54,026
Capitalized interest   17,336 7,785
Income taxes paid   437 266
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Development of real estate financed with accounts payable   25,604 17,223
Common dividends and OP unit distributions declared and unpaid   14,031 13,969
Preferred dividends declared and unpaid   1,225  
Decrease in real estate, net resulting from deconsolidated properties   (156,568) (64,998)
Transfer to real estate assets held for sale   15,144  
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents 104,153 581,621 104,153
Restricted cash 202,513 0 202,513
Cash, cash equivalents, and restricted cash, end of period $ 306,666 $ 581,621 $ 306,666