on december 21 , 2012 , we amended the senior credit facility to reduce the minimum fixed charge coverage ratio from 1.35x to 1.25x through expiration in september 2014. at-the-market preferred stock offering - in september 2011 , we entered into an at-the-market ( “ atm ” ) program with an investment banking firm , pursuant to which we may issue up to 700,000 shares of 8.55 % series a cumulative preferred stock and up to 700,000 shares of 8.45 % series d cumulative preferred stock at market prices up to $ 30.0 million in total proceeds . the atm program remains in effect until such time that either party elects to terminate or the share or dollar threshholds are reached . on march 2 , 2012 , we commenced issuances of preferred stock and during the first two quarters of the year ended december 31 , 2012 , we issued 169,306 shares of 8.55 % series a cumulative preferred stock for gross proceeds of $ 4.2 million and 501,909 shares of 8.45 % series d cumulative preferred stock for gross proceeds of $ 12.3 million . such proceeds , net of commissions and other expenses , were $ 16.0 million for the year ended december 31 , 2012. refinanced our $ 167.2 million mortgage loan - on may 9 , 2012 , we refinanced our $ 167.2 million mortgage loan , due may 2012 , and having an interest rate of libor plus 1.65 % , with a $ 135.0 million mortgage loan , due may 2014 with three one-year extension options and an interest rate of libor plus 6.50 % . as a result , our doubletree guest suites hotel property in columbus , ohio , which was one of ten hotels securing our $ 167.2 million mortgage loan , was no longer encumbered and later sold as the nine remaining hotels secure our $ 135.0 million mortgage loan . disposition of hotel properties - during the second quarter of 2012 we determined that the hilton el conquistador in tuscon , arizona was not to be held long-term as operating cash flows were not anticipated to cover principal and interest payments of the related debt secured by this hotel . in addition , regarding this loan , we ceased making principal and interest 37 payments after july 31 , 2012. based on our assessment , which included marketing this hotel for sale , we concluded that the carrying value of this asset would not be recoverable . consequently , in the second quarter of 2012 , we recognized an impairment charge of $ 4.1 million related to this hotel , which reduced its carrying value to $ 19.7 million and represented our estimate of its fair value . effective august 15 , 2012 , via a consensual foreclosure with our lender , a receiver appointed by pima county superior court in arizona completed taking possession and full control of this hotel . the hotel was disposed of in december 2012 when title passed to the lender . additionally we sold our doubletree guest suites hotel in columbus , ohio in november 2012 for net proceeds of $ 7.7 million . the results of operations of these hotels will be included in discontinued operations in our consolidated statements of operations for all periods presented . refinanced our $ 153.9 million mortgage loan - on november 7 , 2012 , we refinanced our $ 153.9 million non-recourse mortgage loan set to mature in december 2015 , and having an interest rate of 12.72 % , with a $ 211.0 million mortgage loan due november 2014 with three one-year extension options . the new loan is interest only and provides for a floating interest rate of libor plus 6.15 % with a 0.25 % libor floor . the new loan remains secured by the same five hotels including : the embassy suites crystal city , embassy suites orlando airport , embassy suites santa clara , embassy suites portland and the hilton costa mesa . liquidity and capital resources our cash position from operations is affected primarily by macro industry movements in occupancy and rate as well as our ability to control costs . further , interest rates can greatly affect the cost of our debt service as well as the value of any financial hedges we may put in place . we monitor industry fundamentals and interest rates very closely . capital expenditures above our reserves will affect cash flow as well . certain of our loan agreements contain cash trap provisions that may get triggered if the performance of our hotels decline . when these provisions are triggered , substantially all of the profit generated by our hotels is deposited directly into lockbox accounts and then swept into cash management accounts for the benefit of our various lenders . cash is distributed to us only after certain items are paid , including deposits into ground leasing and maintenance reserves and the payment of debt service , insurance , taxes , operating expenses , and extraordinary capital expenditures and ground leasing expenses . this could affect our liquidity and our ability to make distributions to our stockholders . also , we have entered into certain customary guaranty agreements pursuant to which we guaranty payment of any recourse liabilities of our subsidiaries or joint ventures that may result from non-recourse carve-outs , which include , but are not limited to fraud , misrepresentation , willful misconduct resulting in waste , misappropriations of rents following an event of default , voluntary bankruptcy filings , unpermitted transfers of collateral , and certain environmental liabilities . certain of these guarantees represent a guaranty of material amounts , and if we are required to make payments under those guarantees , our liquidity could be adversely affected . story_separator_special_tag for 2011 , other income also included a gain of $ 30.0 million recognized from a litigation settlement , income of $ 9.7 million recognized from the 11 % of ownership interest we acquired in a joint venture at no cost , income of $ 289,000 from a previously written-off mezzanine loan and the credit default swap premium amortization of $ 31,000. interest expense and amortization of loan costs . interest expense and amortization of loan costs increased $ 7.6 million to $ 144.8 million for 2012 from $ 137.2 million for 2011 . the increase is primarily due to higher interest expense of $ 6.1 million primarily attributable to higher interest rates associated with mortgage loans refinanced in december 2011 and may 2012 partially offset by lower interest associated with our senior credit facility which was repaid in 2011. the remaining increase is due to higher loan cost amortization of $ 1.5 million . the average libor rates for 2012 and 2011 were 0.24 % and 0.23 % , respectively . write-off of premiums , loan costs and exit fees . in 2012 , we refinanced our $ 167.2 million mortgage loan and our $ 153.9 million mortgage loan which resulted in the write-off of the associated unamortized deferred loan costs of $ 1.9 million . we also incurred prepayment penalties of $ 2.1 million associated with our $ 153.9 million mortgage loan . in 2011 , we repaid the outstanding balance on the $ 250.0 million senior credit facility , terminated the credit facility , and wrote-off the unamortized deferred loan cost of $ 729,000. unrealized gain ( loss ) on investments . unrealized gain ( loss ) on investments of $ 2.5 million and $ ( 391,000 ) for 2012 and 2011 , respectively , are based on changes in closing market prices during the period or , if derivatives , overall security market fluctuations . unrealized gain ( loss ) on derivatives . for 2012 , we recorded an unrealized loss of $ 35.7 million , consisting of $ 31.7 million related to interest-rate derivatives and $ 3.9 million related to credit default swaps . in 2011 , we recorded an unrealized loss of $ 70.3 million related to losses of $ 69.0 million on interest-rate derivatives and an unrealized loss of $ 1.3 million related to credit default swaps entered into in 2011. the fair value of interest-rate derivatives is primarily based on movements in the libor forward curve and the passage of time . the fair value of credit default swaps is based on the change in value of cmbx indices . income tax expense . we recorded income tax expense of $ 2.4 million and $ 1.6 million for 2012 and 2011 , respectively . the increase in income tax expense in 2012 is primarily due to the texas margin tax . our texas margin tax was significantly lower in 2011 as we recorded a large benefit for the tax write-off of certain mezzanine loans for the 2010 tax year that was not anticipated at december 31 , 2010. loss from discontinued operations . for 2012 , loss from discontinued operations was $ 3.7 million related to two hotel properties disposed of in 2012. the hilton hotel in tuscon , arizona was disposed of in december 2012. the doubetree guest suites hotel in columbus , ohio was sold in november 2012 for net proceeds of $ 7.7 million . we recorded an impairment charge of $ 4.1 million related to the hilton hotel and a net gain of $ 4.5 million upon disposition of these hotels . for 2011 , loss from 43 discontinued operations was $ 7.9 million , which includes the two aforementioned hotels as well as four hotels sold in 2011. the jw marriott san francisco in california , the hilton rye town in new york , and the hampton inn houston in texas were sold in the first quarter of 2011 and the hampton inn hotel in jacksonville , florida , was sold in the third quarter of 2011. the 2011 period included an impairment charge of $ 6.2 million related to the hampton inn hotel in jacksonville , florida and a net gain of $ 2.6 million related to sales of these hotels . income from consolidated joint ventures attributable to noncontrolling interests . noncontrolling interest partners in consolidated joint ventures were allocated income of $ 868,000 and $ 610,000 during 2012 and 2011 , respectively . in 2011 , we recorded a gain of $ 2.1 million from the sale of the hampton inn hotel in houston , texas , that was held by a joint venture . net loss attributable to redeemable noncontrolling interests in operating partnership . noncontrolling interests in operating partnership were allocated net loss of $ 9.3 million and $ 2.8 million in 2012 and 2011 , respectively . redeemable noncontrolling interests represented ownership interests of 12.92 % and 11.43 % in the operating partnership at december 31 , 2012 and december 31 , 2011 , respectively . comparison of year ended december 31 , 2011 with year ended december 31 , 2010 income from continuing operations represents the operating results of 94 hotel properties ( “ comparable hotels ” ) and worldquest included in continuing operations for the years ended december 31 , 2011 and 2010. the results of worldquest are included since its acquisition in march 2011. additionally , there is one hotel property we began consolidating as of december 2 , 2011. the hotel property previously was under a triple-net operating lease for which we only recorded rental income through december 1 , 2011. the following table illustrates the key performance indicators of these hotels : replace_table_token_10_th revenue . room revenues from comparable hotels increased $ 43.9 million , or 7.0 % , during the year ended december 31 , 2011 ( “ 2011 ” ) compared to the year ended december 31 , 2010 ( “ 2010 ” )

net cash flows provided by operating activities . net cash flows provided by operating activities were $ 130.6 million and $ 74.6 million for the year ended december 31 , 2012 and 2011 , respectively . the increase in cash flows from operating activities was primarily due to increased hotel ebitda , the timing of collecting receivables from hotel guests , paying vendors , and settling with hotel managers and a decrease in restricted cash due to the release of cash deposits for certain loans and capital expenditures . net cash flows used in investing activities . for the year ended december 31 , 2012 , investing activities used net cash flows of $ 68.4 million , which primarily consisted of $ 81.4 million of capital improvements made to various hotel properties offset by cash inflows of $ 5.2 million attributable to cash payments received on previously impaired mezzanine loans and net proceeds of $ 7.7 million attributable to the sale of our douletree guest suites hotel in columbus , ohio . for the year ended december 31 , 2011 , investing activities used net cash flows of $ 47.8 million . cash outlays consisted of $ 145.4 million for the acquisition of a 71.74 % interest in pim highland jv , $ 12.0 million for the acquisition of hotel condominiums , and $ 67.8 million for capital improvements made to various hotel properties . cash inflows consisted of $ 154.0 million from the sale of four hotel properties and two condominium properties , $ 22.6 million from repayment of mezzanine loans , and $ 748,000 of insurance proceeds from settlement of insurance claims . net cash flows used in financing activities . for the year ended december 31 , 2012 , net cash flows used in financing activities were $ 43.9 million . cash outlays primarily consisted of $ 353.4 million for repayments of indebtedness , $ 71.6 million for dividend payments to common and preferred stockholders and unit holders , $ 10.4 million for payments of deferred loan costs and $ 1.9 million for distributions to noncontrolling interests in joint ventures .


 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.
     ```net cash flows provided by operating activities . net cash flows provided by operating activities were $ 130.6 million and $ 74.6 million for the year ended december 31 , 2012 and 2011 , respectively . the increase in cash flows from operating activities was primarily due to increased hotel ebitda , the timing of collecting receivables from hotel guests , paying vendors , and settling with hotel managers and a decrease in restricted cash due to the release of cash deposits for certain loans and capital expenditures . net cash flows used in investing activities . for the year ended december 31 , 2012 , investing activities used net cash flows of $ 68.4 million , which primarily consisted of $ 81.4 million of capital improvements made to various hotel properties offset by cash inflows of $ 5.2 million attributable to cash payments received on previously impaired mezzanine loans and net proceeds of $ 7.7 million attributable to the sale of our douletree guest suites hotel in columbus , ohio . for the year ended december 31 , 2011 , investing activities used net cash flows of $ 47.8 million . cash outlays consisted of $ 145.4 million for the acquisition of a 71.74 % interest in pim highland jv , $ 12.0 million for the acquisition of hotel condominiums , and $ 67.8 million for capital improvements made to various hotel properties . cash inflows consisted of $ 154.0 million from the sale of four hotel properties and two condominium properties , $ 22.6 million from repayment of mezzanine loans , and $ 748,000 of insurance proceeds from settlement of insurance claims . net cash flows used in financing activities . for the year ended december 31 , 2012 , net cash flows used in financing activities were $ 43.9 million . cash outlays primarily consisted of $ 353.4 million for repayments of indebtedness , $ 71.6 million for dividend payments to common and preferred stockholders and unit holders , $ 10.4 million for payments of deferred loan costs and $ 1.9 million for distributions to noncontrolling interests in joint ventures .
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 Suspicious Activity Report : on december 21 , 2012 , we amended the senior credit facility to reduce the minimum fixed charge coverage ratio from 1.35x to 1.25x through expiration in september 2014. at-the-market preferred stock offering - in september 2011 , we entered into an at-the-market ( “ atm ” ) program with an investment banking firm , pursuant to which we may issue up to 700,000 shares of 8.55 % series a cumulative preferred stock and up to 700,000 shares of 8.45 % series d cumulative preferred stock at market prices up to $ 30.0 million in total proceeds . the atm program remains in effect until such time that either party elects to terminate or the share or dollar threshholds are reached . on march 2 , 2012 , we commenced issuances of preferred stock and during the first two quarters of the year ended december 31 , 2012 , we issued 169,306 shares of 8.55 % series a cumulative preferred stock for gross proceeds of $ 4.2 million and 501,909 shares of 8.45 % series d cumulative preferred stock for gross proceeds of $ 12.3 million . such proceeds , net of commissions and other expenses , were $ 16.0 million for the year ended december 31 , 2012. refinanced our $ 167.2 million mortgage loan - on may 9 , 2012 , we refinanced our $ 167.2 million mortgage loan , due may 2012 , and having an interest rate of libor plus 1.65 % , with a $ 135.0 million mortgage loan , due may 2014 with three one-year extension options and an interest rate of libor plus 6.50 % . as a result , our doubletree guest suites hotel property in columbus , ohio , which was one of ten hotels securing our $ 167.2 million mortgage loan , was no longer encumbered and later sold as the nine remaining hotels secure our $ 135.0 million mortgage loan . disposition of hotel properties - during the second quarter of 2012 we determined that the hilton el conquistador in tuscon , arizona was not to be held long-term as operating cash flows were not anticipated to cover principal and interest payments of the related debt secured by this hotel . in addition , regarding this loan , we ceased making principal and interest 37 payments after july 31 , 2012. based on our assessment , which included marketing this hotel for sale , we concluded that the carrying value of this asset would not be recoverable . consequently , in the second quarter of 2012 , we recognized an impairment charge of $ 4.1 million related to this hotel , which reduced its carrying value to $ 19.7 million and represented our estimate of its fair value . effective august 15 , 2012 , via a consensual foreclosure with our lender , a receiver appointed by pima county superior court in arizona completed taking possession and full control of this hotel . the hotel was disposed of in december 2012 when title passed to the lender . additionally we sold our doubletree guest suites hotel in columbus , ohio in november 2012 for net proceeds of $ 7.7 million . the results of operations of these hotels will be included in discontinued operations in our consolidated statements of operations for all periods presented . refinanced our $ 153.9 million mortgage loan - on november 7 , 2012 , we refinanced our $ 153.9 million non-recourse mortgage loan set to mature in december 2015 , and having an interest rate of 12.72 % , with a $ 211.0 million mortgage loan due november 2014 with three one-year extension options . the new loan is interest only and provides for a floating interest rate of libor plus 6.15 % with a 0.25 % libor floor . the new loan remains secured by the same five hotels including : the embassy suites crystal city , embassy suites orlando airport , embassy suites santa clara , embassy suites portland and the hilton costa mesa . liquidity and capital resources our cash position from operations is affected primarily by macro industry movements in occupancy and rate as well as our ability to control costs . further , interest rates can greatly affect the cost of our debt service as well as the value of any financial hedges we may put in place . we monitor industry fundamentals and interest rates very closely . capital expenditures above our reserves will affect cash flow as well . certain of our loan agreements contain cash trap provisions that may get triggered if the performance of our hotels decline . when these provisions are triggered , substantially all of the profit generated by our hotels is deposited directly into lockbox accounts and then swept into cash management accounts for the benefit of our various lenders . cash is distributed to us only after certain items are paid , including deposits into ground leasing and maintenance reserves and the payment of debt service , insurance , taxes , operating expenses , and extraordinary capital expenditures and ground leasing expenses . this could affect our liquidity and our ability to make distributions to our stockholders . also , we have entered into certain customary guaranty agreements pursuant to which we guaranty payment of any recourse liabilities of our subsidiaries or joint ventures that may result from non-recourse carve-outs , which include , but are not limited to fraud , misrepresentation , willful misconduct resulting in waste , misappropriations of rents following an event of default , voluntary bankruptcy filings , unpermitted transfers of collateral , and certain environmental liabilities . certain of these guarantees represent a guaranty of material amounts , and if we are required to make payments under those guarantees , our liquidity could be adversely affected . story_separator_special_tag for 2011 , other income also included a gain of $ 30.0 million recognized from a litigation settlement , income of $ 9.7 million recognized from the 11 % of ownership interest we acquired in a joint venture at no cost , income of $ 289,000 from a previously written-off mezzanine loan and the credit default swap premium amortization of $ 31,000. interest expense and amortization of loan costs . interest expense and amortization of loan costs increased $ 7.6 million to $ 144.8 million for 2012 from $ 137.2 million for 2011 . the increase is primarily due to higher interest expense of $ 6.1 million primarily attributable to higher interest rates associated with mortgage loans refinanced in december 2011 and may 2012 partially offset by lower interest associated with our senior credit facility which was repaid in 2011. the remaining increase is due to higher loan cost amortization of $ 1.5 million . the average libor rates for 2012 and 2011 were 0.24 % and 0.23 % , respectively . write-off of premiums , loan costs and exit fees . in 2012 , we refinanced our $ 167.2 million mortgage loan and our $ 153.9 million mortgage loan which resulted in the write-off of the associated unamortized deferred loan costs of $ 1.9 million . we also incurred prepayment penalties of $ 2.1 million associated with our $ 153.9 million mortgage loan . in 2011 , we repaid the outstanding balance on the $ 250.0 million senior credit facility , terminated the credit facility , and wrote-off the unamortized deferred loan cost of $ 729,000. unrealized gain ( loss ) on investments . unrealized gain ( loss ) on investments of $ 2.5 million and $ ( 391,000 ) for 2012 and 2011 , respectively , are based on changes in closing market prices during the period or , if derivatives , overall security market fluctuations . unrealized gain ( loss ) on derivatives . for 2012 , we recorded an unrealized loss of $ 35.7 million , consisting of $ 31.7 million related to interest-rate derivatives and $ 3.9 million related to credit default swaps . in 2011 , we recorded an unrealized loss of $ 70.3 million related to losses of $ 69.0 million on interest-rate derivatives and an unrealized loss of $ 1.3 million related to credit default swaps entered into in 2011. the fair value of interest-rate derivatives is primarily based on movements in the libor forward curve and the passage of time . the fair value of credit default swaps is based on the change in value of cmbx indices . income tax expense . we recorded income tax expense of $ 2.4 million and $ 1.6 million for 2012 and 2011 , respectively . the increase in income tax expense in 2012 is primarily due to the texas margin tax . our texas margin tax was significantly lower in 2011 as we recorded a large benefit for the tax write-off of certain mezzanine loans for the 2010 tax year that was not anticipated at december 31 , 2010. loss from discontinued operations . for 2012 , loss from discontinued operations was $ 3.7 million related to two hotel properties disposed of in 2012. the hilton hotel in tuscon , arizona was disposed of in december 2012. the doubetree guest suites hotel in columbus , ohio was sold in november 2012 for net proceeds of $ 7.7 million . we recorded an impairment charge of $ 4.1 million related to the hilton hotel and a net gain of $ 4.5 million upon disposition of these hotels . for 2011 , loss from 43 discontinued operations was $ 7.9 million , which includes the two aforementioned hotels as well as four hotels sold in 2011. the jw marriott san francisco in california , the hilton rye town in new york , and the hampton inn houston in texas were sold in the first quarter of 2011 and the hampton inn hotel in jacksonville , florida , was sold in the third quarter of 2011. the 2011 period included an impairment charge of $ 6.2 million related to the hampton inn hotel in jacksonville , florida and a net gain of $ 2.6 million related to sales of these hotels . income from consolidated joint ventures attributable to noncontrolling interests . noncontrolling interest partners in consolidated joint ventures were allocated income of $ 868,000 and $ 610,000 during 2012 and 2011 , respectively . in 2011 , we recorded a gain of $ 2.1 million from the sale of the hampton inn hotel in houston , texas , that was held by a joint venture . net loss attributable to redeemable noncontrolling interests in operating partnership . noncontrolling interests in operating partnership were allocated net loss of $ 9.3 million and $ 2.8 million in 2012 and 2011 , respectively . redeemable noncontrolling interests represented ownership interests of 12.92 % and 11.43 % in the operating partnership at december 31 , 2012 and december 31 , 2011 , respectively . comparison of year ended december 31 , 2011 with year ended december 31 , 2010 income from continuing operations represents the operating results of 94 hotel properties ( “ comparable hotels ” ) and worldquest included in continuing operations for the years ended december 31 , 2011 and 2010. the results of worldquest are included since its acquisition in march 2011. additionally , there is one hotel property we began consolidating as of december 2 , 2011. the hotel property previously was under a triple-net operating lease for which we only recorded rental income through december 1 , 2011. the following table illustrates the key performance indicators of these hotels : replace_table_token_10_th revenue . room revenues from comparable hotels increased $ 43.9 million , or 7.0 % , during the year ended december 31 , 2011 ( “ 2011 ” ) compared to the year ended december 31 , 2010 ( “ 2010 ” )

