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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (30,975) $ (10,894)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Equity in loss of unconsolidated joint ventures 894 (1,222)
Distributions from unconsolidated joint ventures 46 781
Gain on sale of real estate, net (20,788) (21,261)
Share-based compensation 1,179 1,532
Depreciation and amortization 34,097 26,216
Amortization of deferred financing costs 106 118
Amortization of above and below market leases, net (97) (104)
Straight-line rent adjustment 2,701 (3,355)
Change in operating assets and liabilities    
Tenants and other receivables (2,300) 484
Prepaid expenses, deferred expenses and other assets (124) (248)
Accounts payable, accrued expenses and other liabilities 5,061 (8,818)
Net cash used in operating activities (10,200) (16,771)
CASH FLOW FROM INVESTING ACTIVITIES    
Investment in unconsolidated joint ventures (16,894) (9,140)
Distributions from unconsolidated joint ventures 1,150 389
Net proceeds from sale of real estate 58,330 37,569
Development of real estate (73,610) (85,413)
Net cash used in investing activities (31,024) (56,595)
CASH FLOW FROM FINANCING ACTIVITIES    
Purchase of shares related to stock grant recipients' tax withholdings (74) (1,613)
Preferred dividends paid (1,225) (1,225)
Common dividends paid   (8,998)
Non-controlling interests distributions paid   (5,030)
Net cash used in financing activities (1,299) (16,866)
Net decrease in cash and cash equivalents (42,523) (90,232)
Cash and cash equivalents, beginning of period 139,260 532,857
Cash and cash equivalents, end of period 96,737 442,625
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 28,311 28,000
Capitalized interest 7,914 5,666
Income taxes paid 5 25
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Development of real estate financed with accounts payable 57,644 17,438
Common dividends and OP units distributions declared and unpaid   14,026
Preferred dividends declared and unpaid 1,225 1,225
Decrease in real estate, net resulting from deconsolidated properties    
Real estate, net   (14,656)
Tenants and other receivables, net   (2)
Prepaid expenses, deferred expenses and other assets, net   (84)
Accounts payable, accrued expenses and other liabilities   6
Transfer to real estate assets held for sale (2,071) 4,416
Transfer of below market asset to right of use asset   (11,005)
Recording of right of use assets 1,598 19,373
Recording of lease liabilities $ (1,598) $ (8,368)