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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flow From Operating Activities:    
Net income (loss) $ 4,388 $ (6,482)
Adjustments to reconcile net income (loss) applicable to common shares to net cash used in operating activities:    
Foreign currency transaction (gain) loss (7,843) 5,818
Allowance for bad debt (542)  
Gain on sale of land (4,138) (2,216)
Depreciation and amortization 3,394 3,109
Amortization of deferred borrowing costs 153 339
Amortization of bond issuance costs 778 592
Loss from joint venture 376 1,055
(Earnings) from unconsolidated subsidiaries and investees (116) (58)
(Increase) decrease in assets:    
Accrued interest receivable 1,475 1,726
Other assets (1,408) 4,822
Prepaid expense (791) (5,340)
Rent receivables 180 (3,275)
Related party receivables (151) (7,971)
Increase (decrease) in liabilities:    
Accrued interest payable (3,193) (5,466)
Other liabilities (4,164) (3,102)
Net cash (used in) operating activities (11,602) (16,449)
Cash Flow From Investing Activities:    
Proceeds from notes receivables 5,042 255
Origination of notes receivables (768) (385)
Acquisition of land held for development (2,000) (2,479)
Proceeds from sale of land 5,638 8,715
Distribution from equity investee 5,264  
Improvement of income producing properties (2,289) (3,699)
Construction and development of new properties (5,453) (7,838)
Net cash provided by (used in) investing activities 5,434 (5,431)
Cash Flow From Financing Activities:    
Bond payments (11,561) (10,378)
Proceeds from notes payable 5,114 8,019
Recurring payment of principal on notes payable (2,592) (1,182)
Distributions to equity partner   (67)
Net cash (used in) financing activities (9,039) (3,608)
Net (decrease) increase in cash and cash equivalents (15,207) (25,488)
Cash and cash equivalents, beginning of period 83,311 106,615
Cash and cash equivalents, end of period 68,104 81,127
Supplemental disclosures of cash flow information:    
Cash paid for interest 13,090 $ 10,887
Schedule of noncash investing and financing activities:    
Notes payable issued on acquisition of land held for development $ 3,350