( 2 ) rent is presented on a cash basis and consists of base minimum rent and common area costs . lease spread metrics the following table summarizes signed leases compared to expiring leases in the same suite , for leases where ( 1 ) the downtime between new and previous tenant was less than 24 months , ( 2 ) the occupied space between the previous tenant and new tenant did not change by more than 10,000 square feet and ( 3 ) the new lease term is at least a year . replace_table_token_18_th _ ( 1 ) represents initial annual rent over the lease consisting of base minimum rent and common area maintenance . ( 2 ) represents expiring rent at end of lease consisting of base minimum rent and common area maintenance . year ended december 31 , 2018 and 2017 the following table is a breakout of the components of minimum rents : replace_table_token_19_th base minimum rents decreased $ 175.5 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018. the joint ventures resulted in a $ 158.3 million decrease in permanent base minimum rents during 2018 compared to 2017 . in addition , the disposition of three operating properties during 2017 resulted in a $ 9.0 million decrease in base minimum rents . tenant recoveries decreased $ 103.2 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter 2018. the joint ventures resulted in $ 85.6 million decrease in tenant recoveries during 2018 compared to 2017 . 32 in addition , the disposition of three operating properties during 2017 resulted in a $ 6.0 million decrease in tenant recoveries during 2018 compared to 2017 . management fees and other corporate revenues increased $ 20.6 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018. the joint ventures resulted in a $ 13.4 million increase in property management fees . in addition , property and asset management fees related to the seritage joint venture increased by $ 11.0 million in 2018 compared to 2017 ( note 3 ) . real estate taxes decreased $ 16.0 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018. the joint ventures resulted in a $ 28.5 million decrease in real estate taxes during 2018 compared to 2017 . this was partially offset by 218 west 57th street , 530 fifth avenue and 685 fifth avenue becoming consolidated properties during the third quarter of 2017. this resulted in a $ 5.1 million increase in 2018 compared to 2017. property management and other costs increased $ 27.3 million primarily due to an increase in salaries and bonuses , corporate office rent and management fees . provision for impairment of $ 45.9 million is related to impairment charges recorded on one operating property ( note 2 ) . depreciation and amortization decreased $ 60.3 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018 ( note 3 ) . interest expense increased $ 34.8 million primarily due to a $ 85.5 million increase in interest expense on the new credit agreement entered into during the third quarter of 2018 ( note 6 ) . in addition , 218 west 57th street , 530 fifth avenue and 685 fifth avenue became consolidated properties during the third quarter of 2017. this resulted in a $ 19.6 million increase in interest expense during 2018 compared to 2017. this was partially offset by the joint venture transactions related to the bpy transaction in the third quarter of 2018. this resulted in a $ 72.2 million decrease in interest expense during 2018 compared to 2017 ( note 3 ) . the gain from changes in control of investment properties and other , net of $ 3.1 billion during 2018 relates to the joint venture transactions related to the bpy transaction in the third quarter of 2018 , the sale of an anchor box at the oaks mall , the sale of commercial office unit at 685 fifth avenue , the sale of a 49 % interest in fashion place , and the sale of a 49.9 % joint venture interest in the sears box at oakbrook center ( note 3 ) . the gain on extinguishment of debt during 2018 primarily relates to one property which was conveyed to the lender in full satisfaction of the debt ( note 3 ) . benefit from income taxes increased $ 583.3 million during 2018 primarily due to the recognition of deferred taxes related to certain transactions effectuated in the bpy transaction ( note 3 ) . equity in income of unconsolidated real estate affiliates decreased by $ 66.2 million primarily due to a decrease in income recognition on condominiums and demolition work at one property and income related to joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018 ( note 3 ) . unconsolidated real estate affiliates - gain on investment of $ 487.2 million during 2018 is due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018 and the sale of a portion of our interest in aeropostale ( note 3 ) . 33 year ended december 31 , 2017 and 2016 the following table is a breakout of the components of minimum rents : replace_table_token_20_th base minimum rents decreased by $ 7.6 million primarily due to our sale of a 50 % interest in fashion show during the third quarter of 2016. this resulted in $ 45.0 million less base minimum rents during 2017 compared to 2016 as the property is now accounted for as unconsolidated real estate affiliates . story_separator_special_tag specifically , the `` if vacant `` value of the buildings and equipment was calculated using a cost approach utilizing published guidelines for current replacement cost or actual construction costs for similar , recently developed properties ; and an income approach . assumptions used in the income approach to the value of buildings include : capitalization and discount rates , lease-up time , market rents , make ready costs , land value , and site improvement value . the estimated fair value of in-place tenant leases includes lease origination costs ( the costs we would have incurred to lease the property to the current occupancy level of the property ) and the lost revenues during the period necessary to lease-up from vacant to the current occupancy level . such estimates include the fair value of leasing commissions , legal costs and tenant coordination 40 costs that would be incurred to lease the property to this occupancy level . additionally , we evaluate the time period over which such occupancy level would be achieved and include an estimate of the net operating costs ( primarily real estate taxes , insurance and utilities ) incurred during the lease-up period , which generally ranges up to one year . the fair value of acquired in-place tenant leases is included in the balance of buildings and equipment and amortized over the remaining lease term for each tenant . identifiable intangible assets and liabilities are calculated for above-market and below-market tenant and ground leases where we are either the lessor or the lessee . the difference between the contractual rental rates and our estimate of market rental rates is measured over a period equal to the remaining non-cancelable term of the leases , including significantly below-market renewal options for which exercise of the renewal option appears to be reasonably assured . the remaining term of leases with renewal options at terms significantly below market reflect the assumed exercise of such below-market renewal options and assume the amortization period would coincide with the extended lease term . the above-market tenant leases and below-market ground leases are included in prepaid expenses and other assets ( note 15 ) ; the below-market tenant leases , above-market ground leases and above-market headquarters office lease are included in accounts payable and accrued expenses ( note 16 ) in our consolidated balance sheets . investments in unconsolidated real estate affiliates ( note 5 ) we account for investments in joint ventures where we own a non-controlling joint interest using either the equity method or the cost method . if we have significant influence but not control over the investment , we utilize the equity method . if we have neither control nor significant influence , we utilize the cost method . under the equity method , the cost of our investment is adjusted for our share of the earnings of such unconsolidated real estate affiliates from the date of acquisition , increased by our contributions and reduced by distributions received . under the cost method , the cost of our investment is not adjusted for our share of the earnings of such unconsolidated real estate affiliates from the date of acquisition and distributions are treated as earnings when received . to determine the method of accounting for partially owned joint ventures , we evaluate the characteristics of associated entities and determine whether an entity is a variable interest entity ( `` vie `` ) . a limited partnership or other similar entity is considered a vie unless a simple majority of limited partners ( excluding limited partners that are under common control with the general partner ) have substantive kick-out rights or participating rights . accounting guidance amended the following : ( i ) modified the evaluation of whether limited partnerships and similar legal entities are vies or voting interest entities , ( ii ) eliminated the presumption that a general partner should consolidate a limited partnership , ( iii ) affected the consolidation analysis of reporting entities that are involved with vies , and ( iv ) provided a scope exception for certain entities . if an entity is determined to be a vie , we determine which party is the primary beneficiary by analyzing whether we have both the power to direct the entity 's significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits . significant judgments and assumptions inherent in this analysis include the nature of the entity 's operations , future cash flow projections , the entity 's financing and capital structure , and contractual relationship and terms . primary risks associated with our vies include the potential of funding the entities ' debt obligations or making additional contributions to fund the entities ' operations . partially owned , non-variable interest joint ventures over which we have controlling financial interest are consolidated in our consolidated financial statements . in determining if we have a controlling financial interest , we consider factors such as ownership interest , authority to make decisions , kick-out rights and substantive participating rights . partially owned joint ventures where we do not have a controlling financial interest , but have the ability to exercise significant influence , are accounted for using the equity method . we continually analyze and assess reconsideration events , including changes in the factors mentioned above , to determine if the consolidation treatment remains appropriate . decisions regarding consolidation of partially owned entities frequently require significant judgment by our management . errors in the assessment of consolidation could result in material changes to our consolidated financial statements . revenue recognition and related matters minimum rents are recognized on a straight-line basis over the terms of the related operating leases , including the effect of any free rent periods . minimum rents also include lease termination income collected from tenants to allow for the tenant to vacate their space prior to their scheduled termination dates , as well as accretion related to above-market

cash flows from operating activities net cash provided by operating activities was $ 584.5 million for the year ended december 31 , 2018 , $ 1,294.6 million for the year ended december 31 , 2017 , and $ 1,136.2 million for the year ended december 31 , 2016 . significant components of net cash provided by operating activities include : in 2018 , an increase in cash outflows from transaction expenses ; in 2017 , increase in distributions received from unconsolidated real estate affiliates ; and in 2017 , an increase in cash inflows from tenant recoveries . cash flows from investing activities net cash provided by ( used in ) investing activities was $ 2.7 billion for the year ended december 31 , 2018 , $ ( 855.3 ) million for the year ended december 31 , 2017 , and $ 521.4 million for the year ended december 31 , 2016 . significant components of net cash provided by ( used in ) investing activities include : 2018 activity proceeds from sales of investments properties and unconsolidated real estate affiliates , $ 3,050.3 million ; development of real estate and property improvements , $ ( 674.5 ) million ; net proceeds from distributions received from unconsolidated real estate in excess of income , $ 410.6 million ; contributions to unconsolidated real estate affiliates , $ ( 218.0 ) million ; and proceeds from repayment of loans to joint ventures and joint venture partners , $ 204.9 million .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows from operating activities net cash provided by operating activities was $ 584.5 million for the year ended december 31 , 2018 , $ 1,294.6 million for the year ended december 31 , 2017 , and $ 1,136.2 million for the year ended december 31 , 2016 . significant components of net cash provided by operating activities include : in 2018 , an increase in cash outflows from transaction expenses ; in 2017 , increase in distributions received from unconsolidated real estate affiliates ; and in 2017 , an increase in cash inflows from tenant recoveries . cash flows from investing activities net cash provided by ( used in ) investing activities was $ 2.7 billion for the year ended december 31 , 2018 , $ ( 855.3 ) million for the year ended december 31 , 2017 , and $ 521.4 million for the year ended december 31 , 2016 . significant components of net cash provided by ( used in ) investing activities include : 2018 activity proceeds from sales of investments properties and unconsolidated real estate affiliates , $ 3,050.3 million ; development of real estate and property improvements , $ ( 674.5 ) million ; net proceeds from distributions received from unconsolidated real estate in excess of income , $ 410.6 million ; contributions to unconsolidated real estate affiliates , $ ( 218.0 ) million ; and proceeds from repayment of loans to joint ventures and joint venture partners , $ 204.9 million .
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 Suspicious Activity Report : ( 2 ) rent is presented on a cash basis and consists of base minimum rent and common area costs . lease spread metrics the following table summarizes signed leases compared to expiring leases in the same suite , for leases where ( 1 ) the downtime between new and previous tenant was less than 24 months , ( 2 ) the occupied space between the previous tenant and new tenant did not change by more than 10,000 square feet and ( 3 ) the new lease term is at least a year . replace_table_token_18_th _ ( 1 ) represents initial annual rent over the lease consisting of base minimum rent and common area maintenance . ( 2 ) represents expiring rent at end of lease consisting of base minimum rent and common area maintenance . year ended december 31 , 2018 and 2017 the following table is a breakout of the components of minimum rents : replace_table_token_19_th base minimum rents decreased $ 175.5 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018. the joint ventures resulted in a $ 158.3 million decrease in permanent base minimum rents during 2018 compared to 2017 . in addition , the disposition of three operating properties during 2017 resulted in a $ 9.0 million decrease in base minimum rents . tenant recoveries decreased $ 103.2 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter 2018. the joint ventures resulted in $ 85.6 million decrease in tenant recoveries during 2018 compared to 2017 . 32 in addition , the disposition of three operating properties during 2017 resulted in a $ 6.0 million decrease in tenant recoveries during 2018 compared to 2017 . management fees and other corporate revenues increased $ 20.6 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018. the joint ventures resulted in a $ 13.4 million increase in property management fees . in addition , property and asset management fees related to the seritage joint venture increased by $ 11.0 million in 2018 compared to 2017 ( note 3 ) . real estate taxes decreased $ 16.0 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018. the joint ventures resulted in a $ 28.5 million decrease in real estate taxes during 2018 compared to 2017 . this was partially offset by 218 west 57th street , 530 fifth avenue and 685 fifth avenue becoming consolidated properties during the third quarter of 2017. this resulted in a $ 5.1 million increase in 2018 compared to 2017. property management and other costs increased $ 27.3 million primarily due to an increase in salaries and bonuses , corporate office rent and management fees . provision for impairment of $ 45.9 million is related to impairment charges recorded on one operating property ( note 2 ) . depreciation and amortization decreased $ 60.3 million primarily due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018 ( note 3 ) . interest expense increased $ 34.8 million primarily due to a $ 85.5 million increase in interest expense on the new credit agreement entered into during the third quarter of 2018 ( note 6 ) . in addition , 218 west 57th street , 530 fifth avenue and 685 fifth avenue became consolidated properties during the third quarter of 2017. this resulted in a $ 19.6 million increase in interest expense during 2018 compared to 2017. this was partially offset by the joint venture transactions related to the bpy transaction in the third quarter of 2018. this resulted in a $ 72.2 million decrease in interest expense during 2018 compared to 2017 ( note 3 ) . the gain from changes in control of investment properties and other , net of $ 3.1 billion during 2018 relates to the joint venture transactions related to the bpy transaction in the third quarter of 2018 , the sale of an anchor box at the oaks mall , the sale of commercial office unit at 685 fifth avenue , the sale of a 49 % interest in fashion place , and the sale of a 49.9 % joint venture interest in the sears box at oakbrook center ( note 3 ) . the gain on extinguishment of debt during 2018 primarily relates to one property which was conveyed to the lender in full satisfaction of the debt ( note 3 ) . benefit from income taxes increased $ 583.3 million during 2018 primarily due to the recognition of deferred taxes related to certain transactions effectuated in the bpy transaction ( note 3 ) . equity in income of unconsolidated real estate affiliates decreased by $ 66.2 million primarily due to a decrease in income recognition on condominiums and demolition work at one property and income related to joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018 ( note 3 ) . unconsolidated real estate affiliates - gain on investment of $ 487.2 million during 2018 is due to the joint ventures formed in conjunction with the bpy transaction in the third quarter of 2018 and the sale of a portion of our interest in aeropostale ( note 3 ) . 33 year ended december 31 , 2017 and 2016 the following table is a breakout of the components of minimum rents : replace_table_token_20_th base minimum rents decreased by $ 7.6 million primarily due to our sale of a 50 % interest in fashion show during the third quarter of 2016. this resulted in $ 45.0 million less base minimum rents during 2017 compared to 2016 as the property is now accounted for as unconsolidated real estate affiliates . story_separator_special_tag specifically , the `` if vacant `` value of the buildings and equipment was calculated using a cost approach utilizing published guidelines for current replacement cost or actual construction costs for similar , recently developed properties ; and an income approach . assumptions used in the income approach to the value of buildings include : capitalization and discount rates , lease-up time , market rents , make ready costs , land value , and site improvement value . the estimated fair value of in-place tenant leases includes lease origination costs ( the costs we would have incurred to lease the property to the current occupancy level of the property ) and the lost revenues during the period necessary to lease-up from vacant to the current occupancy level . such estimates include the fair value of leasing commissions , legal costs and tenant coordination 40 costs that would be incurred to lease the property to this occupancy level . additionally , we evaluate the time period over which such occupancy level would be achieved and include an estimate of the net operating costs ( primarily real estate taxes , insurance and utilities ) incurred during the lease-up period , which generally ranges up to one year . the fair value of acquired in-place tenant leases is included in the balance of buildings and equipment and amortized over the remaining lease term for each tenant . identifiable intangible assets and liabilities are calculated for above-market and below-market tenant and ground leases where we are either the lessor or the lessee . the difference between the contractual rental rates and our estimate of market rental rates is measured over a period equal to the remaining non-cancelable term of the leases , including significantly below-market renewal options for which exercise of the renewal option appears to be reasonably assured . the remaining term of leases with renewal options at terms significantly below market reflect the assumed exercise of such below-market renewal options and assume the amortization period would coincide with the extended lease term . the above-market tenant leases and below-market ground leases are included in prepaid expenses and other assets ( note 15 ) ; the below-market tenant leases , above-market ground leases and above-market headquarters office lease are included in accounts payable and accrued expenses ( note 16 ) in our consolidated balance sheets . investments in unconsolidated real estate affiliates ( note 5 ) we account for investments in joint ventures where we own a non-controlling joint interest using either the equity method or the cost method . if we have significant influence but not control over the investment , we utilize the equity method . if we have neither control nor significant influence , we utilize the cost method . under the equity method , the cost of our investment is adjusted for our share of the earnings of such unconsolidated real estate affiliates from the date of acquisition , increased by our contributions and reduced by distributions received . under the cost method , the cost of our investment is not adjusted for our share of the earnings of such unconsolidated real estate affiliates from the date of acquisition and distributions are treated as earnings when received . to determine the method of accounting for partially owned joint ventures , we evaluate the characteristics of associated entities and determine whether an entity is a variable interest entity ( `` vie `` ) . a limited partnership or other similar entity is considered a vie unless a simple majority of limited partners ( excluding limited partners that are under common control with the general partner ) have substantive kick-out rights or participating rights . accounting guidance amended the following : ( i ) modified the evaluation of whether limited partnerships and similar legal entities are vies or voting interest entities , ( ii ) eliminated the presumption that a general partner should consolidate a limited partnership , ( iii ) affected the consolidation analysis of reporting entities that are involved with vies , and ( iv ) provided a scope exception for certain entities . if an entity is determined to be a vie , we determine which party is the primary beneficiary by analyzing whether we have both the power to direct the entity 's significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits . significant judgments and assumptions inherent in this analysis include the nature of the entity 's operations , future cash flow projections , the entity 's financing and capital structure , and contractual relationship and terms . primary risks associated with our vies include the potential of funding the entities ' debt obligations or making additional contributions to fund the entities ' operations . partially owned , non-variable interest joint ventures over which we have controlling financial interest are consolidated in our consolidated financial statements . in determining if we have a controlling financial interest , we consider factors such as ownership interest , authority to make decisions , kick-out rights and substantive participating rights . partially owned joint ventures where we do not have a controlling financial interest , but have the ability to exercise significant influence , are accounted for using the equity method . we continually analyze and assess reconsideration events , including changes in the factors mentioned above , to determine if the consolidation treatment remains appropriate . decisions regarding consolidation of partially owned entities frequently require significant judgment by our management . errors in the assessment of consolidation could result in material changes to our consolidated financial statements . revenue recognition and related matters minimum rents are recognized on a straight-line basis over the terms of the related operating leases , including the effect of any free rent periods . minimum rents also include lease termination income collected from tenants to allow for the tenant to vacate their space prior to their scheduled termination dates , as well as accretion related to above-market

