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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (30,755) $ 36,260
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 46,091 34,037
Amortization of debt premiums, discounts and issuance costs 5,704 1,856
Amortization of acquired real estate leases 105,460 52,238
Amortization of deferred leasing costs 2,771 2,288
Gain on sale of real estate (22,075) (17,329)
Loss on impairment of real estate 5,584 5,800
Loss on early extinguishment of debt 485 0
Straight line rental income (12,461) (5,835)
Other non-cash (income) expenses, net 1,288 (2)
Unrealized (gain) loss on equity securities 44,007 (23,252)
Equity in net losses of investees 377 1,206
Equity in earnings of Select Income REIT included in discontinued operations 0 (14,590)
Net gain on issuance of shares by Select Income REIT included in discontinued operations 0 (8)
Distributions of earnings from Select Income REIT 0 14,590
Change in assets and liabilities:    
Rents receivable 15,886 4,870
Deferred leasing costs (15,208) (4,141)
Other assets 6,104 4,870
Accounts payable and other liabilities (16,858) (1,631)
Due to related persons (28,610) 2,270
Net cash provided by operating activities 107,790 93,497
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate improvements (21,126) (21,324)
Distributions in excess of earnings from Select Income REIT 0 10,827
Distributions in excess of earnings from unconsolidated joint ventures 1,121 2,233
Proceeds from sale of properties, net 288,885 142,189
Net cash provided by investing activities 268,880 133,925
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (9,970) (1,808)
Repayment of unsecured term loans (218,000) 0
Borrowings on unsecured revolving credit facility 85,000 70,000
Repayments on unsecured revolving credit facility (195,000) (188,000)
Repurchase of common shares (63) (18)
Redemption of preferred units of limited partnership 0 (20,221)
Preferred units of limited partnership distributions 0 (646)
Distributions to common shareholders (52,895) (85,266)
Net cash used in financing activities (390,928) (225,959)
Increase (decrease) in cash, cash equivalents and restricted cash (14,258) 1,463
Cash, cash equivalents and restricted cash at beginning of period 38,943 19,680
Cash, cash equivalents and restricted cash at end of period $ 24,685 $ 21,143