Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (loss) |
$ 68,769
|
$ (3,325)
|
| Adjustments to reconcile net income to net cash provided by Operating activities: |
|
|
| Depreciation and amortization, including related intangible assets |
43,413
|
41,185
|
| Amortization of deferred stock units |
101
|
98
|
| Amortization of stock compensation |
785
|
313
|
| Amortization of deferred financing costs |
1,169
|
953
|
| Amortization of debt discount and mark-to-market |
610
|
997
|
| Equity in (earnings) loss of unconsolidated joint venture, net |
1,554
|
3,529
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
574
|
815
|
| Realized (gains) loss on disposition of rental property, net |
(58,600)
|
(144)
|
| Gain on change of control of interests |
(10,156)
|
|
| Changes in operating assets and liabilities: |
|
|
| (Increase) decrease in unbilled rents receivable, net |
(2,169)
|
347
|
| Increase in deferred charges, goodwill and other assets |
(19,323)
|
(10,828)
|
| Decrease (increase) in accounts receivable, net |
1,243
|
(866)
|
| Increase (decrease) in accounts payable, accrued expenses and other liabilities |
(2,370)
|
8,159
|
| Increase (decrease) in rents received in advance and security deposits |
370
|
(4,717)
|
| (Decrease) Increase in accrued interest payable |
(489)
|
2,671
|
| Net cash provided by operating activities |
25,481
|
39,187
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Rental property acquisitions and related intangibles |
(47,818)
|
|
| Rental property additions and improvements |
(34,603)
|
(19,658)
|
| Development of rental property and other related costs |
(16,131)
|
(12,519)
|
| Proceeds from the sale of rental property |
94,710
|
1,072
|
| Repayment of notes receivable |
125
|
|
| Investment in unconsolidated joint ventures |
(7,225)
|
(20,880)
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
1,771
|
1,097
|
| Decrease (increase) in restricted cash |
7,777
|
(1,535)
|
| Net cash (used in) provided by investing activities |
(1,394)
|
(52,423)
|
| CASH FLOW FROM FINANCING ACTIVITIES |
|
|
| Borrowings from revolving credit facility |
150,000
|
56,000
|
| Repayment of revolving credit facility |
(215,000)
|
(14,000)
|
| Repayment of senior unsecured notes |
(200,000)
|
|
| Borrowings from unsecured term loan |
350,000
|
|
| Proceeds from mortgages and loans payable |
77,666
|
1,150
|
| Repayment of mortgages, loans payable and other obligations |
(89,712)
|
(25,228)
|
| Payment of financing costs |
(3,392)
|
(30)
|
| Cash from noncontrolling interests |
703
|
94
|
| Payment of dividends and distributions |
(15,008)
|
(14,984)
|
| Net cash provided by (used in) financing activities |
55,257
|
3,002
|
| Net increase (decrease) in cash and cash equivalents |
79,344
|
(10,234)
|
| Cash and cash equivalents, beginning of period |
37,077
|
29,549
|
| Cash and cash equivalents, end of period |
$ 116,421
|
$ 19,315
|