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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 19,602 $ 8,853
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 70,340 74,237
Amortization of above market lease (96) 560
Equity in losses of non-consolidated REITs 644 1,491
Gain on sale of properties, less applicable income tax (11,411)  
Increase (decrease) in allowance for doubtful accounts (125) 125
Changes in operating assets and liabilities:    
Restricted cash 708 (64)
Tenant rent receivables 1,310 2,112
Straight-line rents (1,573) (4,038)
Lease acquisition costs (463) (438)
Prepaid expenses and other assets (997) (106)
Accounts payable, accrued expenses and other items (603) (2,133)
Accrued compensation (522) (122)
Tenant security deposits 101 304
Payment of deferred leasing commissions (4,254) (4,854)
Net cash provided by operating activities 72,661 75,927
Cash flows from investing activities:    
Property acquisitions (66,104)  
Acquired real estate leases (10,604)  
Property improvements, fixtures and equipment (15,005) (12,403)
Distributions in excess of earnings from non-consolidated REITs 81 81
Repayment of related party mortgage loan receivable   13,880
Investment in related party mortgage loan receivable   (2,570)
Proceeds received on sales of real estate assets 55,659  
Net cash used in investing activities (35,973) (1,012)
Cash flows from financing activities:    
Distributions to stockholders (57,107) (57,108)
Borrowings under bank note payable 95,000 10,000
Repayments of bank note payable (63,000) (31,500)
Net cash used in financing activities (25,107) (78,608)
Net increase in cash and cash equivalents 11,581 (3,693)
Cash and cash equivalents, beginning of year 7,519 19,623
Cash and cash equivalents, end of period 19,100 15,930
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets $ 1,994 $ 1,794