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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income$ 32,749$ 21,254
Adjustments to reconcile net income to cash provided by operating activities  
Depreciation19,25813,612
Net amortization of debt premium and deferred financing fees1,2541,791
Straight line rental income(451)75
Amortization of acquired real estate leases8,1162,715
Amortization of deferred leasing costs367354
Share based compensation expense721546
Equity in (earnings) losses of an investee(111)17
Change in assets and liabilities:  
(Increase) decrease in restricted cash(310)(860)
(Increase) decrease in deferred leasing costs(424)(109)
(Increase) decrease in rents receivable(2,445)(7,583)
(Increase) decrease in due from related persons (792)
(Increase) decrease in other assets(3,578)(2,252)
Increase (decrease) in accounts payable and accrued expenses7,92512,320
Increase (decrease) in due to related persons5,2852,630
Cash provided by operating activities68,35643,718
CASH FLOWS FROM INVESTING ACTIVITIES:  
Real estate acquisitions and improvements(336,206)(344,481)
Investment in Affiliates Insurance Company (76)
Cash used in investing activities(336,206)(344,557)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Proceeds from issuance of common shares, net157,894418,431
Repayment of mortgage notes payable(624)(391)
Borrowings on revolving credit facility376,500217,000
Repayments on revolving credit facility(212,000)(298,375)
Financing fees(3)(1,076)
Distributions to common shareholders(50,630)(33,914)
Cash provided by financing activities271,137301,675
Increase in cash and cash equivalents3,287836
Cash and cash equivalents at beginning of period2,4371,478
Cash and cash equivalents at end of period5,7242,314
SUPPLEMENTAL CASH FLOW INFORMATION:  
Interest paid7,0653,208
Income taxes paid43137
Non-cash investing activities  
Real estate acquisitions funded by the assumption of mortgage debt (35,196)
Non-cash financing activities  
Assumption of mortgage debt 35,196
Issuance of common shares pursuant to our equity compensation plan$ (721)$ (546)