as a matter of prudent management , we also regularly evaluate each asset within our portfolio as well as our strategies . such review 67 may result in dispositions when an asset no longer fits our overall objectives or strategies or when our view of the market value of such asset is equal to or exceeds its intrinsic value . as a result of such review , we sold an office property in santa ana , california in november 2015 ; a hotel in oakland , california in february 2016 ; a hotel in los angeles , california in july 2016 ; an office property in san francisco , california in march 2017 ; two multifamily properties in dallas , texas in may 2017 ; an office property in charlotte , north carolina in june 2017 ; an office property and a parking garage in sacramento , california in june 2017 ; a multifamily property in dallas , texas in june 2017 ; an office property in washington , d.c. in august 2017 ; an office property in los angeles , california in september 2017 ; a multifamily property in new york , new york in september 2017 ; an office property in washington , d.c. in october 2017 ; and a multifamily property in houston , texas in december 2017. such review may result in additional dispositions from time to time . we used a substantial portion of the net proceeds of such dispositions to provide liquidity to our common stockholders in 2017 at prices reflecting our nav and cash flow prospects . properties as of december 31 , 2017 , our real estate portfolio consisted of 20 assets , all of which are fee-simple properties . as of december 31 , 2017 , our 18 office properties ( including one parking garage and two development sites , one of which is being used as a parking lot ) , totaling approximately 3.3 million rentable square feet , were 94.2 % occupied and one hotel with an ancillary parking garage , which has a total of 503 rooms , had revpar of $ 128.43 for the year ended december 31 , 2017 . strategy our strategy is to continue to primarily acquire class a and creative office assets in vibrant and improving urban communities throughout the united states in a manner that will allow us to increase our nav and cash flow per share of common stock . our strategy is centered around cim 's community qualification process . we believe this strategy provides us with a significant competitive advantage when making urban real estate acquisitions . the qualification process generally takes between six months and five years and is a critical component of cim 's evaluation . cim examines the characteristics of a market to determine whether the district justifies the extensive efforts cim undertakes in reviewing and making potential acquisitions in its qualified communities . qualified communities generally fall into one of two categories : ( i ) transitional urban districts that have dedicated resources to become vibrant urban communities and ( ii ) well-established , thriving urban areas ( typically major central business districts ) . qualified communities are distinct districts which have dedicated resources to become or are currently vibrant communities where people can live , work , shop and be entertained—all within walking distance or close proximity to public transportation . these areas also generally have high barriers to entry , high population density , improving demographic trends and a propensity for growth . cim believes that a vast majority of the risks associated with acquiring real assets are mitigated by accumulating local market knowledge of the community where the asset is located . cim typically spends significant time and resources qualifying targeted communities prior to making any acquisitions . since 1994 , cim group has qualified 110 communities and has deployed capital in 67 of these qualified communities . although we may not deploy capital exclusively in qualified communities , it is expected that most of our assets will be identified through this systematic process . our strategy may also include side-by-side acquisitions with one or more funds of cim including , without limitation , a side-by-side or direct deployment of capital in a perpetual-life real estate debt fund that principally originates loans secured directly or indirectly by commercial real estate properties . further , as part of our strategy , we may deploy capital in or originate loans that are secured directly or indirectly by properties primarily located in qualified communities that meet our strategy . such loans may include limited and or non-recourse junior ( mezzanine , b-note or 2nd lien ) and senior acquisition , bridge or repositioning loans . cim seeks to maximize the value of its holdings through active asset management . cim has extensive in-house research , acquisition , credit analysis , development , financing , leasing and asset management capabilities , which leverage its deep understanding of urban communities to position properties for multiple uses and to maximize operating income . as a fully integrated owner and operator , cim 's asset management capabilities are complemented by its in-house property management capabilities . property managers prepare annual capital and operating budgets and monthly operating reports , monitor results and oversee vendor services , maintenance and capital improvement schedules . in addition , they ensure that revenue objectives are met , lease terms are followed , receivables are collected , preventative maintenance programs are implemented , vendors are evaluated and expenses are controlled . the asset management committee reviews and approves strategic plans for each asset , including financial , leasing , marketing , property positioning and disposition plans . in addition , the asset management committee reviews and approves the annual business plan for each property , including its capital and operating budget . story_separator_special_tag of on office property in san francisco , california in december 2017 and an office property in beverly hills , california in january 2018. hotel expenses : hotel expenses decreased to $ 25,136,000 , or by 22.6 % , for the year ended december 31 , 2017 compared to $ 32,459,000 for the year ended december 31 , 2016 . the decrease is primarily due to the sale of two hotel properties in february and july 2016. multifamily expenses : multifamily expenses decreased to $ 8,118,000 , or by 34.3 % , for the year ended december 31 , 2017 compared to $ 12,357,000 for the year ended december 31 , 2016 . the decrease is primarily due to the sale of the three multifamily properties in dallas , texas in may and june 2017 , the sale of a multifamily property in new york , new york in september 2017 , and a decrease in legal fees at the same new york property . the aforementioned sales of our multifamily 73 properties , and the sale of the multifamily property in houston , texas in december 2017 , will result in no multifamily expenses in 2018. additionally , we have assessed the sale of our multifamily properties in accordance with asc 205-20 , discontinued operations and we concluded the disposals do not represent a strategic shift that will have a major effect on our operations and financial results and they should not be classified as discontinued operations on our consolidated financial statements . lending expenses : lending expenses represent expenses from our lending subsidiaries included in continuing operations , including general and administrative expenses and fees to related party , related to the operation of the lending business . lending expenses decreased to $ 4,888,000 , or by 7.0 % , for the year ended december 31 , 2017 compared to $ 5,258,000 for the year ended december 31 , 2016 , primarily due to a decrease in fees to related party and reductions in general and administrative costs associated with assets acquired in liquidation , partially offset by the recognition of a provision for loan losses during the year ended december 31 , 2017 compared to a recovery of loan losses during the year ended december 31 , 2016. asset management and other fees to related parties : asset management fees totaled $ 22,229,000 for the year ended december 31 , 2017 compared to $ 25,753,000 for the year ended december 31 , 2016 . asset management fees are calculated based on a percentage of the daily average adjusted fair value of cim urban 's assets , which are appraised in the fourth quarter of each year . the lower fees reflect a decrease in the adjusted fair value of cim urban 's assets due to the sale of a hotel property in february 2016 , the sale of a hotel property in july 2016 , the sale of an office property in march 2017 , the sale of two multifamily properties in may 2017 , the sale of two office properties , a parking garage , and one multifamily property in june 2017 , the sale of an office property in august 2017 , the sale of an office property and a multifamily property in september 2017 , the sale of an office property in october 2017 , and the sale of a multifamily property in december 2017 , partially offset by incremental capital expenditures during 2017 and the acquisition of an office property in december 2017. cim commercial also pays a base service fee to the administrator , a related party , which totaled $ 1,060,000 for the year ended december 31 , 2017 compared to $ 1,043,000 for the year ended december 31 , 2016 . in addition , the administrator received compensation and or reimbursement for performing certain services for cim commercial and its subsidiaries that are not covered under the base service fee . for the years ended december 31 , 2017 and 2016 , we expensed $ 3,065,000 and $ 3,120,000 for such services , respectively . for the years ended december 31 , 2017 and 2016 , we also expensed $ 433,000 and $ 411,000 , respectively , related to corporate services subject to reimbursement by us under the cim sba staffing and reimbursement agreement . asset management fees are expected to decrease materially in 2018 as a result of our completed sales , partially offset by an increase resulting from the acquisitions of two office properties in december 2017 and january 2018. interest expense : interest expense , which is not allocated to our operating segments , was $ 35,924,000 for the year ended december 31 , 2017 , an increase of $ 2,076,000 , compared to $ 33,848,000 for the year ended december 31 , 2016 . the increase is primarily due to interest expense on our $ 392,000,000 mortgage loans entered into in june 2016 , partially offset by a decrease in interest expense due to the payoff of a $ 25,331,000 mortgage in march 2017 in connection with the sale of an office property in san francisco , california , the payoff of mortgages with a combined balance of $ 38,781,000 in connection with the sale of our three multifamily properties in dallas , texas in may and june 2017 , and a decrease in interest expense , including the impact of interest rate swaps , and loan amortization expense under the unsecured credit and term loan facilities , primarily due to lower average outstanding loan balances under the unsecured credit and term loan facilities . our interest expense is expected to decrease in 2018 due to the payoffs and buyers ' assumptions of loans in connection with our sales of real estate totaling $ 114,372,000 in 2017 , and the repayment of $ 215,000,000 of outstanding borrowings on our unsecured term loan facility . however , the magnitude of any such decrease can not be predicted

cash flow analysis comparison of the year ended december 31 , 2017 to the year ended december 31 , 2016 our cash and cash equivalents totaled $ 129,310,000 and $ 144,449,000 at december 31 , 2017 and 2016 , respectively . our cash flows from operating activities are primarily dependent upon the real estate assets owned , occupancy level of our real estate assets , the rental rates achieved through our leases , and the collectability of rent and recoveries from our tenants . our cash flows from operating activities are also impacted by fluctuations in operating expenses and other general and administrative costs . net cash used in operating activities totaled $ 1,145,000 for the year ended december 31 , 2017 compared to net cash provided by operating activities of $ 51,873,000 for the year ended december 31 , 2016 . the decrease is primarily due to a decrease of $ 31,562,000 resulting from a higher level of working capital used compared to the prior period , primarily due to a $ 20,000,000 deposit on an office property we acquired in january 2018 , a $ 17,382,000 decrease in net income adjusted for the gain on real estate , depreciation and amortization expense , and impairment of real estate , a $ 19,003,000 increase in loans funded , partially offset by an increase of $ 12,776,000 in proceeds from the sale of guaranteed loans . our cash flows from investing activities are primarily related to property acquisitions and sales , expenditures for development and redevelopment projects , capital expenditures and cash flows associated with loans originated at our lending segment . net cash provided by investing activities for the year ended december 31 , 2017 was $ 968,656,000 compared to $ 29,526,000 in the corresponding period in 2016 .


 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 flow analysis comparison of the year ended december 31 , 2017 to the year ended december 31 , 2016 our cash and cash equivalents totaled $ 129,310,000 and $ 144,449,000 at december 31 , 2017 and 2016 , respectively . our cash flows from operating activities are primarily dependent upon the real estate assets owned , occupancy level of our real estate assets , the rental rates achieved through our leases , and the collectability of rent and recoveries from our tenants . our cash flows from operating activities are also impacted by fluctuations in operating expenses and other general and administrative costs . net cash used in operating activities totaled $ 1,145,000 for the year ended december 31 , 2017 compared to net cash provided by operating activities of $ 51,873,000 for the year ended december 31 , 2016 . the decrease is primarily due to a decrease of $ 31,562,000 resulting from a higher level of working capital used compared to the prior period , primarily due to a $ 20,000,000 deposit on an office property we acquired in january 2018 , a $ 17,382,000 decrease in net income adjusted for the gain on real estate , depreciation and amortization expense , and impairment of real estate , a $ 19,003,000 increase in loans funded , partially offset by an increase of $ 12,776,000 in proceeds from the sale of guaranteed loans . our cash flows from investing activities are primarily related to property acquisitions and sales , expenditures for development and redevelopment projects , capital expenditures and cash flows associated with loans originated at our lending segment . net cash provided by investing activities for the year ended december 31 , 2017 was $ 968,656,000 compared to $ 29,526,000 in the corresponding period in 2016 .
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 Suspicious Activity Report : as a matter of prudent management , we also regularly evaluate each asset within our portfolio as well as our strategies . such review 67 may result in dispositions when an asset no longer fits our overall objectives or strategies or when our view of the market value of such asset is equal to or exceeds its intrinsic value . as a result of such review , we sold an office property in santa ana , california in november 2015 ; a hotel in oakland , california in february 2016 ; a hotel in los angeles , california in july 2016 ; an office property in san francisco , california in march 2017 ; two multifamily properties in dallas , texas in may 2017 ; an office property in charlotte , north carolina in june 2017 ; an office property and a parking garage in sacramento , california in june 2017 ; a multifamily property in dallas , texas in june 2017 ; an office property in washington , d.c. in august 2017 ; an office property in los angeles , california in september 2017 ; a multifamily property in new york , new york in september 2017 ; an office property in washington , d.c. in october 2017 ; and a multifamily property in houston , texas in december 2017. such review may result in additional dispositions from time to time . we used a substantial portion of the net proceeds of such dispositions to provide liquidity to our common stockholders in 2017 at prices reflecting our nav and cash flow prospects . properties as of december 31 , 2017 , our real estate portfolio consisted of 20 assets , all of which are fee-simple properties . as of december 31 , 2017 , our 18 office properties ( including one parking garage and two development sites , one of which is being used as a parking lot ) , totaling approximately 3.3 million rentable square feet , were 94.2 % occupied and one hotel with an ancillary parking garage , which has a total of 503 rooms , had revpar of $ 128.43 for the year ended december 31 , 2017 . strategy our strategy is to continue to primarily acquire class a and creative office assets in vibrant and improving urban communities throughout the united states in a manner that will allow us to increase our nav and cash flow per share of common stock . our strategy is centered around cim 's community qualification process . we believe this strategy provides us with a significant competitive advantage when making urban real estate acquisitions . the qualification process generally takes between six months and five years and is a critical component of cim 's evaluation . cim examines the characteristics of a market to determine whether the district justifies the extensive efforts cim undertakes in reviewing and making potential acquisitions in its qualified communities . qualified communities generally fall into one of two categories : ( i ) transitional urban districts that have dedicated resources to become vibrant urban communities and ( ii ) well-established , thriving urban areas ( typically major central business districts ) . qualified communities are distinct districts which have dedicated resources to become or are currently vibrant communities where people can live , work , shop and be entertained—all within walking distance or close proximity to public transportation . these areas also generally have high barriers to entry , high population density , improving demographic trends and a propensity for growth . cim believes that a vast majority of the risks associated with acquiring real assets are mitigated by accumulating local market knowledge of the community where the asset is located . cim typically spends significant time and resources qualifying targeted communities prior to making any acquisitions . since 1994 , cim group has qualified 110 communities and has deployed capital in 67 of these qualified communities . although we may not deploy capital exclusively in qualified communities , it is expected that most of our assets will be identified through this systematic process . our strategy may also include side-by-side acquisitions with one or more funds of cim including , without limitation , a side-by-side or direct deployment of capital in a perpetual-life real estate debt fund that principally originates loans secured directly or indirectly by commercial real estate properties . further , as part of our strategy , we may deploy capital in or originate loans that are secured directly or indirectly by properties primarily located in qualified communities that meet our strategy . such loans may include limited and or non-recourse junior ( mezzanine , b-note or 2nd lien ) and senior acquisition , bridge or repositioning loans . cim seeks to maximize the value of its holdings through active asset management . cim has extensive in-house research , acquisition , credit analysis , development , financing , leasing and asset management capabilities , which leverage its deep understanding of urban communities to position properties for multiple uses and to maximize operating income . as a fully integrated owner and operator , cim 's asset management capabilities are complemented by its in-house property management capabilities . property managers prepare annual capital and operating budgets and monthly operating reports , monitor results and oversee vendor services , maintenance and capital improvement schedules . in addition , they ensure that revenue objectives are met , lease terms are followed , receivables are collected , preventative maintenance programs are implemented , vendors are evaluated and expenses are controlled . the asset management committee reviews and approves strategic plans for each asset , including financial , leasing , marketing , property positioning and disposition plans . in addition , the asset management committee reviews and approves the annual business plan for each property , including its capital and operating budget . story_separator_special_tag of on office property in san francisco , california in december 2017 and an office property in beverly hills , california in january 2018. hotel expenses : hotel expenses decreased to $ 25,136,000 , or by 22.6 % , for the year ended december 31 , 2017 compared to $ 32,459,000 for the year ended december 31 , 2016 . the decrease is primarily due to the sale of two hotel properties in february and july 2016. multifamily expenses : multifamily expenses decreased to $ 8,118,000 , or by 34.3 % , for the year ended december 31 , 2017 compared to $ 12,357,000 for the year ended december 31 , 2016 . the decrease is primarily due to the sale of the three multifamily properties in dallas , texas in may and june 2017 , the sale of a multifamily property in new york , new york in september 2017 , and a decrease in legal fees at the same new york property . the aforementioned sales of our multifamily 73 properties , and the sale of the multifamily property in houston , texas in december 2017 , will result in no multifamily expenses in 2018. additionally , we have assessed the sale of our multifamily properties in accordance with asc 205-20 , discontinued operations and we concluded the disposals do not represent a strategic shift that will have a major effect on our operations and financial results and they should not be classified as discontinued operations on our consolidated financial statements . lending expenses : lending expenses represent expenses from our lending subsidiaries included in continuing operations , including general and administrative expenses and fees to related party , related to the operation of the lending business . lending expenses decreased to $ 4,888,000 , or by 7.0 % , for the year ended december 31 , 2017 compared to $ 5,258,000 for the year ended december 31 , 2016 , primarily due to a decrease in fees to related party and reductions in general and administrative costs associated with assets acquired in liquidation , partially offset by the recognition of a provision for loan losses during the year ended december 31 , 2017 compared to a recovery of loan losses during the year ended december 31 , 2016. asset management and other fees to related parties : asset management fees totaled $ 22,229,000 for the year ended december 31 , 2017 compared to $ 25,753,000 for the year ended december 31 , 2016 . asset management fees are calculated based on a percentage of the daily average adjusted fair value of cim urban 's assets , which are appraised in the fourth quarter of each year . the lower fees reflect a decrease in the adjusted fair value of cim urban 's assets due to the sale of a hotel property in february 2016 , the sale of a hotel property in july 2016 , the sale of an office property in march 2017 , the sale of two multifamily properties in may 2017 , the sale of two office properties , a parking garage , and one multifamily property in june 2017 , the sale of an office property in august 2017 , the sale of an office property and a multifamily property in september 2017 , the sale of an office property in october 2017 , and the sale of a multifamily property in december 2017 , partially offset by incremental capital expenditures during 2017 and the acquisition of an office property in december 2017. cim commercial also pays a base service fee to the administrator , a related party , which totaled $ 1,060,000 for the year ended december 31 , 2017 compared to $ 1,043,000 for the year ended december 31 , 2016 . in addition , the administrator received compensation and or reimbursement for performing certain services for cim commercial and its subsidiaries that are not covered under the base service fee . for the years ended december 31 , 2017 and 2016 , we expensed $ 3,065,000 and $ 3,120,000 for such services , respectively . for the years ended december 31 , 2017 and 2016 , we also expensed $ 433,000 and $ 411,000 , respectively , related to corporate services subject to reimbursement by us under the cim sba staffing and reimbursement agreement . asset management fees are expected to decrease materially in 2018 as a result of our completed sales , partially offset by an increase resulting from the acquisitions of two office properties in december 2017 and january 2018. interest expense : interest expense , which is not allocated to our operating segments , was $ 35,924,000 for the year ended december 31 , 2017 , an increase of $ 2,076,000 , compared to $ 33,848,000 for the year ended december 31 , 2016 . the increase is primarily due to interest expense on our $ 392,000,000 mortgage loans entered into in june 2016 , partially offset by a decrease in interest expense due to the payoff of a $ 25,331,000 mortgage in march 2017 in connection with the sale of an office property in san francisco , california , the payoff of mortgages with a combined balance of $ 38,781,000 in connection with the sale of our three multifamily properties in dallas , texas in may and june 2017 , and a decrease in interest expense , including the impact of interest rate swaps , and loan amortization expense under the unsecured credit and term loan facilities , primarily due to lower average outstanding loan balances under the unsecured credit and term loan facilities . our interest expense is expected to decrease in 2018 due to the payoffs and buyers ' assumptions of loans in connection with our sales of real estate totaling $ 114,372,000 in 2017 , and the repayment of $ 215,000,000 of outstanding borrowings on our unsecured term loan facility . however , the magnitude of any such decrease can not be predicted

