OPERATING ACTIVITIES | |
Net income (loss) | 54.03M |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |
Depreciation and amortization | |
Amortization of deferred financing fees | |
Earnings from unconsolidated joint ventures | -337K |
Distributions received from operations of unconsolidated joint ventures | 382K |
Impairment charge on unconsolidated joint ventures | |
Loss on early extinguishment of debt | 847K |
Discontinued operations | |
Gain on sale of real estate | |
Amoritization of premium on mortgages and notes payable, net | -1.35M |
Share-based compensation expense | 2.15M |
Changes in assets and liabilities: | |
Accounts and other receivables | 2.58M |
Other assets | |
Accounts payable and accrued expenses | -6.11M |
Other liabilities | |
Net cash provided by continuing operating activities | |
Operating cash from discontinued operations | |
(Gain) loss on sale of discontinued operations | |
Net cash provided by operating activities | 89.76M |
INVESTING ACTIVITIES | |
Additions to real estate, net | |
Proceeds from sale of real estate | 88.21M |
Increase in restricted cash | 682K |
Investment in unconsolidated joint ventures | |
Purchase of partner's equity in consolidated joint ventures | |
Net cash used in continuing investing activities | |
Net investing cash provided by discontinued operations | |
Net cash used in investing activities | 39.05M |
FINANCING ACTIVITIES | |
Proceeds of mortgages and notes payable | |
Repayments of mortgages and notes payable | -23.22M |
Payment of deferred financing costs | -457K |
Proceeds from issuance of preferred shares | |
Proceeds from issuance of common stock | -185K |
Repayment of capital lease obligation | 0 |
Dividends paid to common shareholders | -50.18M |
Distributions or conversions paid to operating partnership unit holders | -1.25M |
Net cash provided by financing activities | -131.83M |
Net (decrease) increase in cash and cash equivalents | -3.01M |
Cash from consolidated variable interest entity | |
Cash and cash equivalents at beginning of the period | 6.64M |
Cash and cash equivalents at end of the period | 3.63M |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | |
Cash paid for interest (net of capitalized interest of $203 and $864 in 2011 and 2010, respectively) | 32.56M |
Cash paid for federal income taxes | |
Increase in fair value of interest rate swaps | |
The Company acquired income producing property as follows: | |
Fair value of income producing property | |
Cash paid for income producing property |