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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOW FROM OPERATING ACTIVITIES    
Net loss $ (10,933,000) $ (30,975,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity in loss of unconsolidated entities 1,162,000 894,000
Distributions from unconsolidated entities 1,042,000 46,000
Gain on sale of real estate, net (24,208,000) (20,788,000)
Impairment of real estate assets 1,700,000 0
Share-based compensation 911,000 1,179,000
Depreciation and amortization 13,142,000 34,097,000
Amortization of deferred financing costs 106,000 106,000
Amortization of above and below market leases, net (39,000) (97,000)
Straight-line rent adjustment 210,000 2,701,000
Change in operating assets and liabilities    
Tenants and other receivables 294,000 (2,300,000)
Prepaid expenses, deferred expenses and other assets 1,151,000 (124,000)
Accounts payable, accrued expenses and other liabilities 3,352,000 5,061,000
Net cash used in operating activities (12,110,000) (10,200,000)
CASH FLOW FROM INVESTING ACTIVITIES    
Investment in unconsolidated entities (9,902,000) (16,894,000)
Distributions from unconsolidated entities   1,150,000
Net proceeds from sale of real estate 44,234,000 58,330,000
Development of real estate (26,804,000) (73,610,000)
Net cash provided by (used in) investing activities 7,528,000 (31,024,000)
CASH FLOW FROM FINANCING ACTIVITIES    
Repayment of sale-leaseback financing obligations 157,000  
Purchase of shares related to stock grant recipients' tax withholdings (138,000) (74,000)
Preferred dividends paid (1,225,000) (1,225,000)
Net cash used in financing activities (1,206,000) (1,299,000)
Net decrease in cash and cash equivalents (5,788,000) (42,523,000)
Cash and cash equivalents, and restricted cash, beginning of period 150,254,000 139,260,000
Cash and cash equivalents, and restricted cash, end of period 144,466,000 96,737,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash payments for interest 27,999,000 28,311,000
Capitalized interest 2,954,000 7,914,000
Income taxes paid (refunded) (138,000) 5,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Development of real estate financed with accounts payable 8,079,000 57,644,000
Preferred dividends declared and unpaid 1,225,000 1,225,000
Transfer to real estate assets held for sale $ 22,577,000 (2,071,000)
Recording of right of use assets   1,598,000
Recording of lease liabilities   $ (1,598,000)