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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 19,092 $ 34,200
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 23,398 20,781
Net amortization of debt premiums and discounts and debt issuance costs 1,615 1,219
Gain on early extinguishment of debt 0 (104)
Straight line rental income (2,404) (584)
Amortization of acquired real estate leases 17,209 14,842
Amortization of deferred leasing costs 1,797 1,475
Other non-cash expenses (income), net 193 302
Equity in earnings of investees (11,320) (19,334)
Gain on issuance of shares by Select Income REIT (21) (16)
Distributions of earnings from Select Income REIT 9,345 17,760
Change in assets and liabilities:    
Restricted cash 186 678
Deferred leasing costs (2,087) (3,409)
Rents receivable 2,872 1,428
Other assets (3,071) 1,120
Accounts payable and accrued expenses 9,871 971
Due to related persons 1,841 692
Net cash provided by operating activities 68,516 72,021
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions and deposits (12,648) (79,285)
Real estate improvements (21,996) (14,149)
Distributions in excess of earnings from Select Income REIT 16,072 7,158
Net cash used in investing activities (18,572) (86,276)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (761) (107,202)
Proceeds from issuance of senior notes 0 310,000
Borrowings on unsecured revolving credit facility 45,000 229,000
Repayments on unsecured revolving credit facility (50,000) (346,000)
Payment of debt issuance costs 0 (10,138)
Repurchase of common shares (5) 0
Distributions to common shareholders (61,212) (61,169)
Net cash (used in) provided by financing activities (66,978) 14,491
Increase (decrease) in cash and cash equivalents (17,034) 236
Cash and cash equivalents at beginning of period 29,941 8,785
Cash and cash equivalents at end of period 12,907 9,021
Supplemental cash flow information:    
Interest paid 25,747 17,343
Income taxes paid $ 82 $ 76