| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||
Net loss | |||||||||
29,119 | -15,275 | -7,028 | -2,974 | 7,643 | -6,558 | -4,413 | 7,365 | -4,315 | -2,306 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
74,055 | 67,004 | 51,146 | 32,435 | 16,747 | 13,231 | 5,813 | 2,836 | 0 | 0 |
Amortization of fair value adjustments | |||||||||
-335 | -434 | -319 | -362 | -295 | -282 | -725 | -245 | 0 | 0 |
Preferred returns on unconsolidated real estate joint ventures | |||||||||
9,797 | 10,312 | 10,336 | 11,632 | 6,590 | 1,066 | -103 | 13 | -73 | -1,147 |
Equity in gain on sale of real estate assets of unconsolidated joint ventures | |||||||||
- | - | - | - | 11,303 | 4,067 | - | - | - | - |
Gain on sale of joint venture interests | |||||||||
- | - | - | - | 0 | 1,006 | 0 | 2,014 | - | - |
Gain on sale of real estate investments | |||||||||
48,680 | 0 | 50,163 | 4,947 | 2,677 | 0 | 1,687 | - | - | - |
Gain on sale of non-depreciable real estate investments | |||||||||
679 | 0 | 0 | - | - | - | - | - | - | - |
Gain on sale of real estate joint venture interests | |||||||||
0 | 0 | 10,262 | 0 | - | - | - | - | - | - |
Gain on revaluation of equity of business combination | |||||||||
- | - | - | 3,761 | 0 | 0 | - | - | - | - |
Fair value adjustment of interest rate caps | |||||||||
2,536 | 2,846 | 0 | 0 | - | - | - | - | - | - |
Loss on extinguishment of debt | |||||||||
7,258 | 0 | 0 | 1,104 | 0 | - | - | - | - | - |
Loss on early extinguishment of debt | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Equity in gain on sale of real estate asset of unconsolidated joint ventures | |||||||||
- | - | - | - | - | - | - | 0 | - | - |
Gain on sale of joint venture interests | |||||||||
- | - | - | - | - | - | - | - | 0 | 0 |
Gain on revaluation of equity on business combinations | |||||||||
- | - | - | - | - | - | - | 10,927 | 0 | 0 |
Distributions of income and preferred returns from preferred equity investments and unconsolidated real estate joint ventures | |||||||||
9,015 | 9,464 | 9,252 | 11,405 | 9,027 | 720 | 289 | 607 | 904 | 392 |
Share-based compensation attributable to equity incentive plan | |||||||||
5,575 | 5,348 | 109 | 210 | 126 | 48 | 89 | - | - | - |
Share-based compensation to employees - restricted stock grants | |||||||||
425 | 0 | 0 | - | - | - | - | - | - | - |
Share-based compensation to Former Advisor - LTIP Units | |||||||||
- | - | - | - | - | 2,117 | 0 | - | - | - |
Share-based compensation to former Manager - LTIP Units | |||||||||
0 | 993 | 15,935 | 8,591 | 5,738 | 964 | 0 | - | - | - |
Share-based expense reimbursements to BRE - LTIP Units | |||||||||
2,975 | 1,066 | 0 | 0 | - | - | - | - | - | - |
Internalization Operating Partnership Units issued | |||||||||
0 | 0 | 39,938 | 0 | 0 | - | - | - | - | - |
Internalization Class C Shares issued | |||||||||
0 | 0 | 814 | 0 | 0 | - | - | - | - | - |
Share-based compensation attributable to directors' stock compensation plan | |||||||||
- | - | - | - | - | - | - | 81 | 68 | 56 |
Changes in operating assets and liabilities: | |||||||||
Due to (from) affiliates, net | |||||||||
-283 | -2,000 | -1,565 | 950 | 737 | -291 | -233 | 367 | 2,144 | -542 |
Accounts receivable, prepaids and other assets | |||||||||
4,484 | 2,029 | -294 | 1,867 | 5,647 | -27 | 1,007 | -249 | 1 | 82 |
Accounts payable and other accrued liabilities | |||||||||
-3,369 | 7,784 | 16,432 | 7,500 | 3,202 | 1,308 | 2,016 | 887 | 74 | 465 |
Net cash provided by operating activities | |||||||||
63,331 | 64,455 | 54,247 | 34,444 | 16,708 | - | - | - | -1,051 | -870 |
Cash flows from investing activities: | |||||||||
Net cash provided by operating activities | |||||||||
- | - | - | - | - | 5,145 | 245 | -2,048 | - | - |
Acquisitions of real estate investments | |||||||||
516,217 | 333,540 | 493,311 | 472,791 | 241,415 | 59,329 | 0 | - | - | - |
Capital expenditures | |||||||||
21,446 | 21,240 | 46,971 | 6,413 | 3,670 | 7,967 | 20,774 | - | - | - |
Investment in notes receivable from related parties | |||||||||
51,714 | 22,032 | 54,096 | 14,717 | 0 | 0 | - | - | - | - |
Repayments on notes receivable from related parties | |||||||||
12,148 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of unconsolidated real estate joint venture interests | |||||||||
- | - | - | - | 15,590 | 10,830 | 0 | - | - | - |
Proceeds from sale of real estate investments | |||||||||
313,785 | 0 | 71,945 | 36,675 | 17,862 | 0 | - | - | - | - |
Cash acquired in excess of acquisition of consolidated real estate investments | |||||||||
- | - | - | - | - | - | - | 12,417 | 0 | 0 |
Additions to consolidated real estate investments | |||||||||
- | - | - | - | - | - | - | 1,289 | 0 | 0 |
Proceeds from sale and redemption of unconsolidated real estate joint ventures | |||||||||
36,620 | 0 | 17,603 | 20,521 | 0 | 4,985 | 4,439 | 2,957 | 0 | 0 |
Deconsolidation of interests in MDA Apartments, Novel Perimeter and Vickers Historic Roswell | |||||||||
0 | 0 | 794 | 0 | 0 | 1,687 | 0 | - | - | - |
Adjustment for noncontrolling interests in Cade Boca Raton | |||||||||
461 | 0 | 0 | - | - | - | - | - | - | - |
Purchase of interests from noncontrolling interests | |||||||||
9,891 | 12,178 | 7,864 | 15,581 | 11,942 | 15,447 | - | - | - | - |
Purchases of interests from noncontrolling interests | |||||||||
- | - | - | - | - | - | 0 | - | - | - |
Investment in unconsolidated real estate joint venture interests | |||||||||
74,307 | 17,888 | 20,989 | 26,864 | 65,093 | 10,135 | 0 | 6 | 63 | 5,455 |
Decrease (increase) in restricted cash | |||||||||
- | - | - | - | 42 | 10,335 | 210 | 96 | 0 | 0 |
Net cash used in investing activities | |||||||||
-310,561 | -406,878 | -534,477 | -479,170 | -288,710 | - | - | - | -63 | -5,455 |
Cash flows from financing activities: | |||||||||
Net cash used in investing activities | |||||||||
- | - | - | - | - | -89,085 | -16,545 | -10,851 | - | - |
Distributions to common stockholders | |||||||||
14,850 | 13,952 | 29,583 | 24,437 | 20,127 | 5,771 | 1,153 | - | - | - |
Distributions to noncontrolling interests | |||||||||
9,129 | 6,298 | 31,363 | 3,626 | 2,105 | 5,774 | 1,154 | - | - | - |
Distributions to preferred stockholders | |||||||||
45,075 | 35,014 | 26,042 | 9,664 | 0 | 0 | - | - | - | - |
Distributions on common stock | |||||||||
- | - | - | - | - | - | - | 695 | 366 | 129 |
Distributions to noncontrolling interests | |||||||||
- | - | - | - | - | - | - | -398 | 0 | 0 |
Contributions from noncontrolling interests | |||||||||
3,511 | 13,551 | 10,738 | 25,009 | 3,321 | 5,066 | 1,040 | 0 | - | - |
Borrowings on mortgages payable | |||||||||
450,241 | 411,269 | 234,133 | 365,406 | - | 45,335 | 16,036 | 0 | 150 | 5,086 |
Repayments on mortgages payable including prepayment penalties | |||||||||
274,715 | 141,994 | 2,581 | 68,746 | - | 468 | 150 | 3,834 | 1,150 | 3,006 |
Borrowings on mortgages payable | |||||||||
- | - | - | - | 151,058 | - | - | - | - | - |
Repayments on mortgages payable | |||||||||
- | - | - | - | 12,911 | - | - | - | - | - |
Proceeds from credit facilities | |||||||||
133,500 | 222,495 | 107,670 | 0 | 0 | - | - | - | - | - |
Borrowings (repayments) on mortgages payable | |||||||||
- | - | - | - | - | - | - | -239 | 0 | 0 |
Repayments on credit facilities | |||||||||
197,707 | 207,956 | 40,000 | 0 | 0 | - | - | -11,935 | - | - |
Fair value adjustment for debt assumed in acquisition | |||||||||
- | - | - | - | - | 1,547 | 0 | - | - | - |
Repayments under line of credit | |||||||||
- | - | - | - | - | -7,571 | 1,160 | - | - | - |
Payments of deferred financing fees | |||||||||
4,815 | 7,291 | 6,627 | 4,672 | 1,819 | 2,119 | - | - | - | - |
Payments to purchase interest rate caps | |||||||||
0 | 5,174 | 0 | - | - | - | - | - | - | - |
Miscellaneous offering costs | |||||||||
222 | 0 | 0 | - | - | - | - | - | - | - |
Payments to purchase interest rate caps | |||||||||
0 | 5,174 | 0 | 0 | - | - | - | - | - | - |
Borrowings from line of credit | |||||||||
- | - | - | - | - | - | - | - | 0 | 0 |
Deferred financing fees | |||||||||
- | - | - | - | - | - | -205 | -123 | 0 | 0 |
Net proceeds from issuance of Class A common stock | |||||||||
5,325 | 25 | 57,376 | 51 | 131,321 | 76,864 | 1,019 | 8,895 | 2,840 | 4,313 |
Repurchase of Class A common stock | |||||||||
14,086 | 9,018 | 0 | 0 | - | - | 98 | 271 | 63 | 0 |
Net proceeds from issuance of Warrants associated with the Series B Redeemable Preferred Stock | |||||||||
- | - | - | 275 | 0 | 0 | - | - | - | - |
Payments to redeem Operating Partnership Units | |||||||||
25 | 6 | 46 | 101 | 0 | - | - | - | - | - |
Payments to redeem Operating Partnership Units | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Net cash provided by financing activities | |||||||||
- | - | - | - | - | 104,015 | 16,495 | 15,268 | - | - |
Net cash provided by financing activities | |||||||||
245,754 | 330,077 | 417,371 | 491,546 | 317,903 | - | - | - | 1,410 | 6,264 |
Net increase (decrease) in cash, cash equivalents and restricted cash | |||||||||
-1,476 | -12,346 | -62,859 | 46,820 | - | - | - | - | - | - |
Net (Decrease) Increase in Cash and Cash Equivalents | |||||||||
- | - | - | - | 45,901 | 20,075 | 195 | 2,368 | 295 | -61 |
Supplemental disclosure of cash flow information | |||||||||
Cash paid for interest (net of interest capitalized) | |||||||||
53,890 | 44,837 | 28,004 | 18,095 | 10,909 | 7,769 | 933 | - | - | - |
Supplemental Disclosure of Cash Flow Information Cash Interest Paid | |||||||||
- | - | - | - | - | - | - | 209 | 358 | 262 |
Supplemental disclosure of non-cash investing and financing activities | |||||||||
Conversion of preferred equity investments to notes receivable | |||||||||
0 | 0 | -40,760 | 0 | - | - | - | - | - | - |
Distributions payable - declared and unpaid | |||||||||
13,541 | 12,073 | 14,287 | 7,328 | 3,163 | 889 | 143 | 129 | 63 | 40 |
Redemptions payable | |||||||||
- | - | - | - | - | - | - | 23 | 192 | 0 |
Accrued offering costs | |||||||||
- | - | - | - | - | - | 954 | 559 | 276 | 260 |
Distributions paid to common stockholders through common stock issuances pursuant to the distribution reinvestment plan including no amount declared but not yet reinvested at December 31, 2013 | |||||||||
- | - | - | - | - | - | 441 | 454 | 212 | 63 |
Receivable for common stock issuances pursuant to the distribution reinvestment plan | |||||||||
- | - | - | - | - | - | - | -49 | -24 | 0 |
Line of credit release and extension fee | |||||||||
- | - | - | - | - | - | 175 | 0 | - | - |
Reduction of line of credit balance in exchange for sale of joint venture equity interest | |||||||||
- | - | - | - | - | - | 5,524 | 0 | - | - |
Mortgage assumed upon property acquisition | |||||||||
15,546 | 0 | 173,831 | 39,054 | 32,942 | 116,800 | 0 | - | - | - |
Proceeds of sale of property held in restricted cash | |||||||||
- | - | - | - | 0 | 0 | - | - | - | - |
Conversion of equity investment to notes receivable | |||||||||
- | - | - | - | 0 | - | - | - | - | - |
Mortgages assumed by buyer upon sale of real estate assets | |||||||||
0 | 0 | 41,419 | 0 | 0 | - | - | - | - | - |
This element represents the information regarding Capital expenditures held in accounts payable and other accrued liabilities. | |||||||||
-884 | 786 | 0 | - | - | - | - | - | - | - |
Capital expenditures held in accounts payable and other accrued liabilities | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Class A common stock issued upon property acquisitions | |||||||||
- | - | - | - | - | 15,188 | 0 | - | - | - |
OP Units issued for property acquisitions | |||||||||
- | - | - | - | - | 4,100 | 0 | - | - | - |
Reduction of assets from change of control or deconsolidation | |||||||||
-26,383 | 0 | 110,402 | 0 | 0 | 63,109 | 0 | - | - | - |
Reduction of mortgages payable from change of control or deconsolidation | |||||||||
-23,500 | 0 | -49,445 | 0 | - | 43,453 | 0 | - | - | - |
Reduction of other liabilities from change of control or deconsolidation | |||||||||
0 | 0 | -6,905 | 0 | 0 | - | - | - | - | - |
Reduction of noncontrolling interests from change of control or deconsolidation | |||||||||
-3,344 | 0 | 22,920 | 0 | - | - | - | - | - | - |
Reduction of noncontrolling interests from deconsolidation | |||||||||
-3,344 | 0 | 22,920 | 0 | 0 | 7,814 | - | - | - | - |
Reduction of noncontrolling interests from deconsolidation | |||||||||
- | - | - | - | - | - | 0 | - | - | - |
Net assets acquired | |||||||||
- | - | - | - | - | - | - | 26,283 | 0 | 0 |
Series D Preferred Stock [Member] | |||||||||
Net loss | |||||||||
0 | 0 | 0 | 0 | - | - | - | - | - | - |
Proceeds from Redeemable Preferred Stock | |||||||||
0 | 0 | -55 | 68,760 | - | - | - | - | - | - |
Series B Preferred Stock [Member] | |||||||||
Net proceeds from issuance of Redeemable Preferred Stock | |||||||||
208,913 | 107,877 | 141,244 | 18,789 | - | - | - | - | - | - |
Net proceeds from issuance of Warrants associated with the Series B Redeemable Preferred Stock | |||||||||
4,413 | 1,699 | 3,072 | - | - | - | - | - | - | - |
Net proceeds from exercise of Warrants associated with the Series B Redeemable Preferred Stock | |||||||||
343 | 0 | 0 | - | - | - | - | - | - | - |
Payments to redeem 6.0% Series B Redeemable Preferred Stock | |||||||||
255 | 136 | 244 | 0 | - | - | - | - | - | - |
Series C Preferred Stock [Member] | |||||||||
Proceeds from Redeemable Preferred Stock | |||||||||
0 | 0 | -148 | 55,978 | - | - | - | - | - | - |
Series A Preferred Stock [Member] | |||||||||
Proceeds from Redeemable Preferred Stock | |||||||||
0 | 0 | -173 | 68,524 | - | - | - | - | - | - |
Series T Preferred Stock [Member] | |||||||||
Net proceeds from issuance of Redeemable Preferred Stock | |||||||||
387 | 0 | 0 | - | - | - | - | - | - | - |