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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flow from operating activities:    
Net income (loss) $ (223,867) $ 58,517
Adjustments to reconcile net (loss) income to net cash flow provided by operating activities:    
Depreciation and amortization 202,315 209,201
Stock-based compensation 4,893 4,787
Amortization and write-off of deferred finance charges and fair market value of debt adjustments (5,529) (1,980)
Accretion of convertible debt discount 5,919 5,613
Equity in net income of joint ventures (1,703) (6,621)
Impairment of joint venture investments 0 9,100
Net gain on sale and change in control of interests (7,772) (83,830)
Operating cash distributions from joint ventures 4,021 3,314
Realized gain on sale of available-for-sale securities 0 (840)
Gain on disposition of real estate (36,361) (17,564)
Impairment charges 279,021 25,183
Change in notes receivable accrued interest (4,175) (2,000)
Change in restricted cash 1,591 2,981
Net change in accounts receivable 1,327 7,089
Net change in accounts payable and accrued expenses 11,763 4,835
Net change in other operating assets and liabilities (22,570) (16,735)
Total adjustments 432,740 142,533
Net cash flow provided by operating activities 208,873 201,050
Cash flow from investing activities:    
Real estate acquired, net of liabilities and cash assumed (105,846) (156,532)
Real estate developed and improvements to operating real estate (132,595) (108,808)
Proceeds from disposition of real estate and joint venture interests 158,122 514,628
Equity contributions to joint ventures (134) (3,764)
Distributions from sale and refinancing of joint venture interests 3,365 9,600
Return of investments in joint ventures 3,575 6,438
Proceeds from sale of available-for-sale securities 0 1,251
Repayment of notes receivable 9,275 225
Change in restricted cash – capital improvements 582 (1,130)
Net cash flow (used for) provided by investing activities (63,656) 261,908
Cash flow from financing activities:    
Proceeds from (repayments of) revolving credit facilities, net 213,513 (533)
Proceeds from issuance of senior notes, net of underwriting commissions and offering expenses 491,972 0
Proceeds from mortgages and other debt 300,000 81,427
Repayment of senior notes (152,996) 0
Repayment of term loans and mortgage debt (857,396) (94,421)
Payment of debt issuance costs (4,540) (705)
Redemption of preferred shares 0 (55,000)
Issuance (repurchase) of common shares in conjunction with equity award plans and dividend reinvestment plan 3,321 (2,510)
Contributions from non-controlling interests 0 93
Distributions to non-controlling interests and redeemable operating partnership units (5,591) (704)
Dividends paid (129,333) (117,927)
Net cash flow used for financing activities (141,050) (190,280)
Cash and cash equivalents:    
Increase in cash and cash equivalents 4,167 272,678
Effect of exchange rate changes on cash and cash equivalents 164 (2)
Cash and cash equivalents, beginning of year 20,937 86,664
Cash and cash equivalents, end of period $ 25,268 $ 359,340