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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 17,387 $ (33,370)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation 10,237 9,626
Net amortization of debt premiums and discounts and debt issuance costs 471 332
Gain on early extinguishment of debt (104)  
Straight line rental income (149) (663)
Amortization of acquired real estate leases 7,712 7,340
Amortization of deferred leasing costs 709 556
Other non-cash (income) expense, net (105) 507
Equity in earnings (losses) of investees (9,934) 316
Loss on issuance of shares by Select Income REIT   40,771
Distributions of earnings from Select Income REIT 9,117 2,176
Change in assets and liabilities:    
Restricted cash 309 (762)
Deferred leasing costs (1,989) (412)
Rents receivable (1,215) 1,587
Other assets 1,849 2,699
Accounts payable and accrued expenses (4,577) (2,656)
Due to related persons 1,494 201
Net cash provided by operating activities 31,212 28,248
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions and deposits (79,244)  
Real estate improvements (4,964) (2,678)
Investment in Select Income REIT   (95,821)
Distributions in excess of earnings from Select Income REIT 3,342 11,354
Proceeds from sale of properties, net   30,521
Net cash used in investing activities (80,866) (56,624)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of mortgage notes payable (106,849) (610)
Borrowings on unsecured revolving credit facility 204,000 75,000
Repayments on unsecured revolving credit facility (10,000) (20,000)
Debt issuance costs   (16)
Distributions to common shareholders (30,584) (30,252)
Net cash provided by financing activities 56,567 24,122
Increase (decrease) in cash and cash equivalents 6,913 (4,254)
Cash and cash equivalents at beginning of period 8,785 13,791
Cash and cash equivalents at end of period 15,698 9,537
Supplemental cash flow information:    
Interest paid 12,319 12,078
Income taxes paid $ 44 $ 131