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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Cash flows from operating activities:          
Net income $ 21,839 $ 130 $ 23,276 $ 2,521  
Adjustment to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     110,286 91,725  
Loss on impairments 0 0 0 11,231  
Loss on involuntary conversion     330 0  
Non-cash portion of interest expense     1,465 1,208  
Intangible amortization in rental income, net     3,873 4,751  
Straight-line rent adjustments, net     (4,855) (2,205)  
Dividends on forfeited equity compensation     2 3  
Loss on extinguishment of debt 13 0 15 1,973  
Gain on the sales of rental property, net     (19,225) (21,589)  
Non-cash compensation expense     7,159 7,692  
Change in assets and liabilities:          
Tenant accounts receivable, net     (955) (215)  
Restricted cash     483 (461)  
Prepaid expenses and other assets     (10,479) (7,375)  
Accounts payable, accrued expenses and other liabilities     5,572 8,128  
Tenant prepaid rent and security deposits     3,570 518  
Total adjustments     97,241 95,384  
Net cash provided by operating activities     120,517 97,905  
Cash flows from investing activities:          
Acquisitions of land and buildings and improvements     (405,790) (195,893)  
Additions of land and building and improvements     (27,539) (20,703)  
Proceeds from sales of rental property, net     43,454 50,301  
Proceeds from insurance on involuntary conversion     857 0  
Restricted cash     5,583 (469)  
Acquisition deposits, net     685 (1,315)  
Acquisitions of deferred leasing intangibles     (79,961) (51,937)  
Net cash used in investing activities     (462,711) (220,016)  
Cash flows from financing activities:          
Proceeds from sale of series C preferred stock     0 75,000  
Proceeds from unsecured credit facility     538,000 286,000  
Repayment of unsecured credit facility     (321,000) (213,000)  
Repayment of mortgage notes     (105,027) (33,084)  
Payment of loan fees and costs     (1,170) (140)  
Payment of loan prepayment fees and costs     (15) (1,969)  
Dividends and distributions     103,655 86,890  
Proceeds from sales of common stock     339,624 100,714  
Repurchase and retirement of restricted stock     (969) 0  
Offering costs     (4,746) (4,258)  
Net cash provided by financing activities     341,042 122,373  
Increase (decrease) in cash and cash equivalents     (1,152) 262  
Cash and cash equivalents—beginning of period     12,192 12,011 $ 12,011
Cash and cash equivalents—end of period 11,040 12,273 11,040 12,273 12,192
Supplemental disclosure:          
Cash paid for interest, net of capitalized interest     30,476 29,127  
Supplemental schedule of non-cash investing and financing activities          
Issuance of units for acquisitions of land and building and improvements and deferred leasing intangibles     18,558 0  
Acquisitions of land and buildings and improvements     17,304 3,392  
Acquisitions of deferred leasing intangibles     (2,064) (938)  
Partial disposal of building due to involuntary conversion of building     363 492  
Investing other receivables due to involuntary conversion of building     (363) (492)  
Change in additions of land, building, and improvements included in accounts payable, accrued expenses, and other liabilities     (13,201) (1,587)  
Additions to building and other capital improvements from non-cash compensation     (24) (14)  
Assumption of mortgage notes     0 4,037  
Fair market value adjustment to mortgage notes acquired     0 75  
Change in loan fees, costs, and offering costs included in accounts payable, accrued expenses, and other liabilities     30 6  
Dividends and distributions payable $ 11,516 $ 8,814 $ 11,516 $ 8,814 $ 9,728