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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net (income) loss $ (11,420) $ 9,705
Adjustments to reconcile net (income) loss to net cash provided by operating activities:    
Depreciation and amortization 66,697 71,807
Amortization of above and below-market leases and lease inducements, net (5,763) (4,546)
Amortization of debt premiums, discounts and financing costs, net 1,388 1,279
Straight-line rent adjustment, net 1,039 (2,823)
Provision for estimated credit losses 7,791 869
Provision for asset impairment 9,002 2,359
Gain on sale of investment properties, net (668) (32,443)
Loss on extinguishment of debt 2,543 2,901
Equity in (earnings) losses of unconsolidated entities (1,591) 48
Distributions from unconsolidated entities 3,399 6,034
Stock-based compensation, net 3,546 3,454
Provision for indemnification claims 0 25,500
Changes in operating assets and liabilities:    
Accounts and rents receivable (6,994) (1,555)
Deferred costs and other assets (1,116) (2,175)
Accounts payable and accrued expenses 5,109 5,636
Other liabilities (3,056) 139
Net cash provided by operating activities 69,906 86,189
Cash flows from investing activities:    
Purchase of investment properties (30,309) (329,493)
Acquired in-place and market lease intangibles, net (2,068) (29,602)
Capital expenditures and tenant improvements (8,644) (14,861)
Investment in development and re-development projects (1,817) (5,658)
Proceeds from sale of investment properties, net 5,791 183,588
Indemnification payment related to the sale of investment properties 0 (30,000)
Proceeds from the sale of unconsolidated entity 0 30,000
Lease commissions and other leasing costs (436) (3,864)
Other assets 2,738 477
Other liabilities (1,743) (239)
Net cash used in investing activities (36,488) (199,652)
Cash flows from financing activities:    
Common shares repurchased through share repurchase program (5,201) 0
Proceeds from distribution reinvestment plan 185 0
Distributions to shareholders (40,572) (39,842)
Proceeds from debt 150,000 118,000
Payoffs of debt (67,349) (106,041)
Debt prepayment penalties (2,504) (2,692)
Principal payments of mortgage debt (1,122) (1,382)
Payment of finance lease liabilities (283) (343)
Payment of loan fees and deposits (75) (273)
Net cash provided by (used in) financing activities 33,079 (32,573)
Net increase (decrease) in cash, cash equivalents, and restricted cash 66,497 (146,036)
Cash, cash equivalents, and restricted cash at the beginning of the period 260,748 264,853
Cash, cash equivalents, and restricted cash at the end of the period 327,245 118,817
Interest capitalized 5 89
Reconciliation of cash, cash equivalents, and restricted cash to condensed consolidated balance sheets:    
Cash, cash equivalents, and restricted cash at the end of the period 327,245 118,817
Cash flow disclosure, including non-cash activities:    
Cash paid for interest, net of capitalized interest of $5 and $89, respectively 13,290 16,089
Cash paid for income taxes, net 913 504
Distributions payable to shareholders 13,642 13,408
Accrued investment in re-development projects 28 300
Accrued lease commissions and other leasing costs 203 232
Capitalized costs placed in service 6,369 7,950
Reclassification of registration statement costs incurred to equity issuance costs 278 0
Purchase of investment properties:    
Net investment properties 30,515 332,449
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 3,770 37,103
Accounts payable and accrued expenses, lease intangibles, and other liabilities (1,908) (10,457)
Cash outflow for purchase of investment properties, net 32,377 359,095
Capitalized acquisition costs (63) (2,334)
Credits and other changes in cash outflow, net 890 9,003
Gross acquisition price of investment properties 33,204 365,764
Sale of investment properties:    
Net investment properties 5,618 153,081
Accounts and rents receivable, lease intangibles, and deferred costs and other assets (148) 5,683
Gain on sale of investment properties, net 668 32,443
Loss on extinguishment of debt 0 (2,092)
Proceeds from sale of investment properties, net 5,791 183,588
Credits and other changes in cash inflow, net 810 6,612
Gross disposition price of investment properties $ 6,601 $ 190,200