CHAPTER 11 CASES AND ABILITY TO CONTINUE AS A GOING CONCERN (Tables)

12 Months Ended

Dec. 31, 2020

Condensed combined financial statement information of the Debtors is as follows:

Condensed Combined Financial Statements – Debtors (Debtors-In-Possession)

Condensed Combined Balance Sheet

	December 31, 2020
ASSETS:
Investment in real estate assets	$	4,056,257
Accumulated depreciation		(1,544,800	)
		2,511,457
Developments in progress		27,853
Net investment in real estate assets		2,539,310
Available-for-sale securities - at fair value (amortized cost of $233,052)		233,071
Cash and cash equivalents		46,346
Restricted Cash		29,834
Intercompany due from non-debtor entities		76,095
Other assets		140,241
Total assets	$	3,064,897
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY:
Other liabilities	$	102,910
Intercompany due to non-debtor entities		5,062
Total liabilities not subject to compromise		107,972
Liabilities subject to compromise		2,551,490
Redeemable noncontrolling interests		(2,786	)
Shareholders' equity		411,605
Noncontrolling interests		(3,384	)
Total liabilities and owners’ equity	$	3,064,897

Condensed Combined Statement of Operations

	For the Period November 1, 2020 to December 31, 2020
Total revenues	$	70,845
Depreciation and amortization		(23,064	)
Operating expenses		(22,040	)
Interest and other income		1,705
Interest expense (unrecognized contractual interest expense was $30,084 for the year ended December 31, 2020)		(760	)
Reorganization items		(35,977	)
Gain on sales of real estate assets		1,988
Income tax benefit		354
Net loss	$	(6,949	)

Condensed Combined Statement of Cash Flows

CASH FLOWS FROM OPERATING ACTIVITIES:	For the Period November 1, 2020 to December 31, 2020
Net loss	$	(6,949	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Reorganization items (non-cash)		25,294
Other assets and liabilities, net		26,885
Net cash provided by operating activities		45,230
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of available-for-sale securities		(81,276	)
Changes in other assets		2,506
Net cash used in investing activities		(78,770	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net distributions from non-Debtor subsidiaries		8,621
Other financing activities		104
Net cash provided by financing activities		8,725
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		(24,815	)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period		100,995
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	$	76,180
Reconciliation from consolidated statement of cash flows to consolidated balance sheet:
Cash and cash equivalents	$	46,346
Restricted cash		29,834
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	$	76,180

SUPPLEMENTAL INFORMATION
Cash paid for reorganization items	$	301