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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ (5,360) $ (10,174) $ 38,399
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 87,143 87,755 97,429
Amortization of above and below-market leases and lease inducements, net (4,318) (7,060) (6,148)
Amortization of debt premiums, discounts, and financing costs, net 1,816 1,826 1,706
Straight-line rent adjustment, net (3,272) (2,590) (3,609)
Provision for asset impairment 0 9,002 2,359
Provision for estimated credit losses 2,271 11,119 1,557
Gain on sale of investment properties, net (1,522) (1,752) (62,011)
Loss on extinguishment of debt 400 2,543 2,901
Equity in (earnings) losses of unconsolidated entities (6,398) 3,141 (957)
Distributions from unconsolidated entities 8,085 6,380 8,228
Stock-based compensation, net 9,116 4,449 5,541
Provision for indemnification claims 0 0 25,500
Changes in operating assets and liabilities:      
Accounts and rents receivable 257 (7,451) (4,922)
Deferred costs and other assets, net (1,834) 192 (1,624)
Accounts payable and accrued expenses 1,875 (1,888) (66)
Other liabilities 1,697 (1,337) 1,725
Net cash provided by operating activities 89,956 94,155 106,008
Cash flows from investing activities:      
Purchase of investment properties (53,078) (41,446) (359,095)
Capital expenditures and tenant improvements (15,361) (12,918) (17,754)
Investment in development and re-development projects (5,466) (2,189) (7,103)
Proceeds from the sale of investment properties, net 14,807 8,027 346,707
Proceeds from the sale of unconsolidated entity 0 0 30,000
Indemnification payment related to the sale of investment properties 0 0 (30,000)
Lease commissions and other leasing costs (4,055) (1,391) (5,621)
Other assets (179) 3,096 333
Other liabilities (1,369) (2,239) 736
Net cash used in investing activities (64,701) (49,060) (41,797)
Cash flows from financing activities:      
Payment of tax withholdings for share-based compensation (1,833) (1,072) (1,397)
Repurchase of common stock under share repurchase plan (16,685) (5,201) (20,384)
Repurchase of common stock through tender offer (103,331) 0 0
Proceeds from distribution reinvestment plan 0 185 0
Distributions to stockholders (55,561) (54,214) (53,250)
Proceeds from debt 431,000 150,000 118,000
Payoffs of debt (450,000) (167,349) (106,041)
Debt prepayment penalties 0 (2,504) (1,834)
Principal payments on mortgage debt (1,306) (1,441) (2,692)
Payment of loan fees and deposits (6,065) (100) (446)
Payment of finance lease liabilities (390) (377) (272)
Net cash used in financing activities (204,171) (82,073) (68,316)
Net decrease in cash, cash equivalents and restricted cash (178,916) (36,978) (4,105)
Cash, cash equivalents and restricted cash at beginning of year 223,770 260,748 264,853
Cash, cash equivalents and restricted cash at end of year 44,854 223,770 260,748
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 14,570 17,256 21,259
Cash paid for income taxes, net of refunds 276 833 446
Distributions payable to stockholders 13,802 13,642 13,252
Accrued capital expenditures and tenant improvements 3,552 1,404 1,180
Capitalized costs placed in service 7,453 8,213 29,027
Gross issuance of shares for share-based compensation 5,040 3,593 4,051
Reclassification of registration statement costs incurred to equity issuance costs 0 278 0
Purchase of investment properties:      
Net investment properties 45,791 37,329 332,148
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 8,734 6,066 37,103
Accounts payable and accrued expenses, lease intangibles, and other liabilities (1,447) (1,949) (10,156)
Cash outflow for purchase of investment properties, net 53,078 41,446 359,095
Capitalized acquisition costs (59) (121) (2,334)
Credits and other changes in cash outflow, net 1,691 922 9,003
Gross acquisition price of investment properties 54,710 42,247 365,764
Sale of investment properties:      
Net investment properties 10,953 6,400 286,682
Accounts and rents receivable, lease intangibles, and deferred costs and other assets 2,332 249 9,295
Accounts payable and accrued expenses, lease intangibles, and other liabilities 0 (374) (9,189)
Gain on sale of investment properties, net 1,522 1,752 62,011
Loss on extinguishment of debt 0 0 (2,092)
Proceeds from sale of investment properties, net 14,807 8,027 346,707
Credits and other changes in cash inflow, net 174 11,093 11,093
Gross disposition price of investment properties $ 14,981 $ 19,120 $ 357,800