Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2016 |
Jun. 30, 2015 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income |
$ 123,135
|
$ 36,064
|
| Adjustments to reconcile net income to net cash provided by Operating activities: |
|
|
| Depreciation and amortization, including related intangible assets |
87,168
|
83,930
|
| Amortization of directors deferred compensation stock units |
198
|
197
|
| Amortization of stock compensation |
2,253
|
805
|
| Amortization of deferred financing costs |
2,349
|
1,901
|
| Amortization of debt discount and mark-to-market |
1,126
|
2,018
|
| Equity in (earnings) loss of unconsolidated joint venture, net |
2,168
|
5,858
|
| Distributions of cumulative earnings from unconsolidated joint ventures |
2,415
|
2,698
|
| Gain on change of control of interests |
(15,347)
|
|
| Realized (gains) losses and unrealized losses on disposition of rental property, net |
(85,717)
|
(34,543)
|
| Gain on sale of investments in unconsolidated joint ventures |
(5,670)
|
(6,448)
|
| Gain from extinguishment of debt |
(12,420)
|
|
| Changes in operating assets and liabilities: |
|
|
| (Increase) decrease in unbilled rents receivable, net |
(6,745)
|
801
|
| Increase in deferred charges, goodwill and other assets |
(25,470)
|
(14,802)
|
| Decrease (increase) in accounts receivable, net |
4,580
|
(3,561)
|
| Increase (decrease) in accounts payable, accrued expenses and other liabilities |
(5,433)
|
1,478
|
| Decrease in rents received in advance and security deposits |
(559)
|
(3,053)
|
| (Decrease) increase in accrued interest payable |
(3,196)
|
6,342
|
| Net cash provided by operating activities |
64,835
|
79,685
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Rental property acquisitions and related intangibles |
(217,006)
|
(4,057)
|
| Rental property additions and improvements |
(51,638)
|
(42,881)
|
| Development of rental property and other related costs |
(77,386)
|
(27,869)
|
| Proceeds from the sales of rental property |
326,899
|
80,581
|
| Proceeds from the sale of investments in unconsolidated joint ventures |
6,420
|
6,448
|
| Repayment of notes receivable |
250
|
7,750
|
| Acquisition of noncontrolling interests |
(37,946)
|
|
| Investment in unconsolidated joint ventures |
(23,657)
|
(49,305)
|
| Distributions in excess of cumulative earnings from unconsolidated joint ventures |
3,189
|
1,985
|
| Decrease (increase) in restricted cash |
452
|
(7,808)
|
| Net cash used in investing activities |
(70,423)
|
(35,156)
|
| CASH FLOW FROM FINANCING ACTIVITIES |
|
|
| Borrowings from revolving credit facility |
355,000
|
129,000
|
| Repayment of revolving credit facility |
(435,000)
|
(129,000)
|
| Repayment of senior unsecured notes |
(200,000)
|
|
| Borrowings from unsecured term loan |
350,000
|
|
| Proceeds from mortgages and loans payable |
106,906
|
2,897
|
| Repayment of mortgages, loans payable and other obligations |
(143,322)
|
(27,251)
|
| Payment of financing costs |
(6,656)
|
(98)
|
| Contributions from noncontrolling interests |
1,065
|
158
|
| Payment of dividends and distributions |
(30,025)
|
(29,971)
|
| Net cash used in financing activities |
(2,032)
|
(54,265)
|
| Net decrease in cash and cash equivalents |
(7,620)
|
(9,736)
|
| Cash and cash equivalents, beginning of period |
37,077
|
29,549
|
| Cash and cash equivalents, end of period |
$ 29,457
|
$ 19,813
|