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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating activities    
Net income (loss) $ 6,601 $ (23,390)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 37,534 21,097
Depreciation and amortization - discontinued operations 571 30,919
Amortization of above market leases 2,323 565
Amortization of below market leases - discontinued operations (38) (909)
Amortization of loan costs 1,030 1,007
Amortization of mortgage loan discount 0 (400)
Share-based compensation expense 204 888
Deferred income tax benefit (478) 0
Operating distributions from unconsolidated joint ventures 0 507
Gain on sale of real estate investments (8,772) (4,292)
Non-cash impairment loss on real estate-discontinued operations 0 1,700
Equity in earnings of unconsolidated joint ventures 0 (95)
Equity in loss of unconsolidated joint ventures - discontinued operations 19 16
Change in fair value of contingent consideration 216 0
Increase in deferred leasing costs (4,710) (8,487)
Changes in operating assets and liabilities:    
Change in receivables and other assets 1,087 (8,947)
Change in accounts payable and other liabilities (3,267) 228
Net cash provided by operating activities 32,320 10,407
Investing activities    
Proceeds from mortgage loan 1,500 0
Distributions from unconsolidated joint ventures 120 135
Investment in real estate (378,693) (488,279)
Investment in other assets 0 (3,500)
Investment in management company 0 (32,400)
Proceeds from sale of real estate 110,816 156,546
Improvements to real estate (13,931) (19,161)
Net cash used in investing activities (280,188) (386,659)
Financing activities    
Principal payments on mortgage notes payable (20,256) (101,233)
Proceeds from mortgage notes payable 73,500 200,013
Proceeds from bank borrowings 133,989 219,671
Payments on bank borrowings (155,044) (164,293)
Debt financing costs (2,215) (4,654)
Purchase of Company stock (113) (299)
Dividends paid on common stock (3,711) (3,270)
Dividends paid on convertible preferred stock (1,011) 0
Dividends paid on preferred stock (8,132) (4,375)
Contributions from noncontrolling interest partners 3,447 251,168
Distributions to noncontrolling interest partners (615) (28,912)
Proceeds from stock offering, net of transaction costs 186,100 26,143
Net cash provided by financing activities 205,939 389,959
Change in cash and cash equivalents (41,929) 13,707
Cash and cash equivalents at beginning of period 75,183 19,670
Cash and cash equivalents at end of period $ 33,254 $ 33,377