| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
CASH FLOW FROM OPERATING ACTIVITIES | ||||||
Net loss | ||||||
-90,603 | -114,878 | -120,813 | -91,009 | |||
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||
Equity in loss of unconsolidated joint ventures | ||||||
-17,994 | -10,448 | -7,788 | 4,646 | |||
Distributions from unconsolidated joint ventures | ||||||
877 | 3,956 | 4,305 | 15,677 | |||
Gain on sale of real estate, net | ||||||
71,104 | 96,165 | 11,447 | - | |||
Gain on sale of interest in unconsolidated joint venture | ||||||
6,721 | - | 60,302 | - | |||
Unrealized loss on interest rate cap | ||||||
- | -23 | -701 | -1,378 | |||
Share-based compensation | ||||||
6,845 | 7,472 | 7,018 | 1,068 | |||
Depreciation and amortization | ||||||
104,581 | 226,675 | 262,171 | 177,119 | |||
Amortization of deferred financing costs | ||||||
434 | 10,322 | 8,719 | 5,361 | |||
Amortization of above and below market leases, net | ||||||
-495 | -768 | -720 | -680 | |||
Straight-line rent adjustment | ||||||
-15,590 | 2,825 | -3,719 | -12,862 | |||
Change in operating assets and liabilities | ||||||
Tenants and other receivables | ||||||
-2,556 | 256 | 4,753 | -350 | |||
Prepaid expenses, deferred expenses and other assets | ||||||
5,149 | 9,811 | 7,877 | -6,080 | |||
Restricted cash | ||||||
- | - | - | 17,554 | |||
Accounts payable, accrued expenses and other liabilities | ||||||
-8,006 | 15,056 | -21,462 | 12,143 | |||
Net cash used in operating activities | ||||||
-57,700 | 54,899 | 59,609 | 92,425 | |||
Investment in unconsolidated joint ventures | ||||||
54,193 | 27,005 | 37,993 | 9,000 | |||
Distributions from unconsolidated joint ventures | ||||||
1,884 | 10,988 | 10,039 | - | |||
Net proceeds from disposition of interest in unconsolidated joint ventures | ||||||
- | - | 257,373 | - | |||
Net proceeds from sale of real estate | ||||||
140,505 | 210,097 | 50,875 | - | |||
Development of real estate | ||||||
387,686 | 313,555 | 243,105 | 66,193 | |||
Decrease (increase) in restricted cash | ||||||
- | - | - | -22,413 | |||
Net cash used in investing activities | ||||||
-299,500 | -119,475 | 37,189 | -52,780 | |||
CASH FLOW FROM FINANCING ACTIVITIES | ||||||
Proceeds from Term Loan Facility | ||||||
- | 1,600,000 | - | - | |||
Repayment of mortgage loans payable | ||||||
- | 1,210,561 | 50,634 | - | |||
Repayment of Unsecured Term Loan | ||||||
- | 145,000 | - | - | |||
Proceeds from Future Funding Facility | ||||||
- | - | 79,998 | 20,002 | |||
Proceeds from Unsecured Term Loan | ||||||
- | - | 230,000 | - | |||
Repayment of Unsecured Delayed Draw Term Loan | ||||||
- | - | 85,000 | - | |||
Payment of deferred financing costs | ||||||
- | 2,472 | 4,348 | 914 | |||
Proceeds from issuance of preferred stock | ||||||
- | - | 70,000 | - | |||
Preferred stock offering costs | ||||||
- | 113 | 3,526 | - | |||
Purchase of shares related to stock grant recipients' tax withholdings | ||||||
3,523 | 1,840 | - | - | |||
Preferred dividends paid | ||||||
4,900 | 4,020 | - | - | |||
Common dividends paid | ||||||
17,964 | 35,677 | 34,248 | 39,354 | |||
Non-controlling interests distributions paid | ||||||
10,060 | 20,118 | 21,448 | 30,220 | |||
Net cash used in financing activities | ||||||
-36,447 | 180,199 | 180,794 | -50,486 | |||
Net decrease in cash and cash equivalents | ||||||
-393,597 | 115,623 | 277,592 | -10,841 | |||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||||||
Cash payments for interest | ||||||
117,556 | 102,786 | 73,870 | 61,051 | |||
Capitalized interest | ||||||
28,497 | 23,183 | 13,142 | 3,077 | |||
Income taxes paid | ||||||
285 | 321 | 271 | 505 | |||
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||||
Development of real estate financed with accounts payable | ||||||
17,006 | 26,180 | 21,449 | 6,369 | |||
Common dividends and OP units distributions declared and unpaid | ||||||
- | 14,027 | 13,968 | - | |||
Preferred dividends declared and unpaid | ||||||
1,225 | 1,225 | - | - | |||
Decrease in real estate, net resulting from deconsolidated properties | ||||||
Dividends and distribution declared and unpaid | ||||||
- | - | - | 13,954 | |||
Real estate, net | ||||||
-17,237 | -156,568 | -67,616 | - | |||
Tenants and other receivables, net | ||||||
-2 | - | -814 | - | |||
Lease intangible assets, net | ||||||
-26 | -1,416 | -13,480 | - | |||
Prepaid expenses, deferred expenses and other assets, net | ||||||
-84 | -193 | -8 | - | |||
Accounts payable, accrued expenses and other liabilities | ||||||
6 | - | 3,612 | - | |||
Transfer to real estate assets held for sale | ||||||
-5,275 | -3,094 | - | - | |||
Transfer of below market asset to right of use asset | ||||||
-11,005 | - | - | - | |||
Recording of right of use assets | ||||||
19,373 | - | - | - | |||
Recording of lease liabilities | ||||||
-8,368 | - | - | - | |||
Property delivered in exchange | ||||||
-2,075 | - | - | - | |||
Property received in exchange | ||||||
11,326 | - | - | - | |||