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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 54,620 $ 49,960 $ 45,997
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 34,694 32,348 26,886
Net amortization of debt premium and deferred financing fees 1,340 1,332 1,045
Straight line rental income (3,067) (3,553) (1,729)
Amortization of acquired real estate leases 21,608 19,507 13,071
Amortization of deferred leasing costs 1,599 1,122 630
Other non-cash expenses 1,268 1,598 763
Loss on asset impairment 10,142 494  
Net gain on sale of properties (8,168)    
Equity in earnings of an investee (334) (316) (139)
Change in assets and liabilities:      
Restricted cash (136) 183 (188)
Deferred leasing costs (4,279) (5,183) (2,702)
Rents receivable (1,565) 3,454 (8,071)
Other assets (1,063) 257 (1,708)
Accounts payable and accrued expenses 2,492 (940) 3,909
Due to related persons (760) 45 2,723
Cash provided by operating activities 108,391 100,308 80,487
CASH FLOWS FROM INVESTING ACTIVITIES:      
Real estate acquisitions and deposits (112,574) (213,626) (387,491)
Real estate improvements (23,252) (18,841) (3,060)
Proceeds from sale of properties, net 18,319    
Cash used in investing activities (117,507) (232,467) (390,551)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common shares, net   166,718 157,870
Repayment of mortgage notes payable (1,933) (1,793) (1,005)
Borrowings on unsecured revolving credit facility 216,500 230,500 472,500
Repayments on unsecured revolving credit facility (109,000) (526,500) (245,000)
Proceeds from unsecured term loan   350,000  
Financing fees   (1,964) (3,074)
Distributions to common shareholders (94,043) (82,819) (70,392)
Cash provided by financing activities 11,524 134,142 310,899
Increase in cash and cash equivalents 2,408 1,983 835
Cash and cash equivalents at beginning of year 5,255 3,272 2,437
Cash and cash equivalents at end of year 7,663 5,255 3,272
Supplemental cash flow information      
Interest paid 15,336 15,469 10,309
Income taxes paid 169 117 72
Non-cash investing activities      
Real estate acquisitions funded with the assumption of mortgage debt     (49,395)
Non-cash financing activities      
Assumption of mortgage debt     49,395
Issuance of common shares $ 1,697 $ 1,902 $ 721