XML 46 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 31,972 $ 12,734
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,228 18,273
Amortization of deferred financing costs 1,805 1,156
Amortization of above-market leases 194 80
Amortization of intangible lease liabilities (2,948) (2,039)
Amortization of real estate-related notes receivables origination costs and commitment fees 114 390
Provision for doubtful accounts 2,777 0
Straight-line rent (11,461) (6,590)
Stock-based compensation 45 41
Change in fair value of contingent consideration 300 0
Changes in operating assets and liabilities:    
Accounts payable and other liabilities 1,614 2,312
Accounts payable due to affiliates 376 4,704
Other assets (3,932) (1,544)
Net cash provided by operating activities 53,084 29,517
Cash flows from investing activities:    
Investment in real estate (123,753) (410,025)
Capital expenditures (23,127) (747)
Real estate deposits 140 (4,025)
Real estate-related notes receivables advances (267) (8,350)
Preferred equity investment (127,147) 0
Investment in notes receivables (10,000) 0
Origination costs net of commitment fees related to real estate-related notes receivables 0 (168)
Net cash used in investing activities (284,154) (423,315)
Cash flows from financing activities:    
Proceeds from notes payable 64,305 91,466
Payments on notes payable (5,389) (2,643)
Proceeds from credit facility 160,000 20,000
Payments on credit facility (27,000) (97,000)
Payments of deferred financing costs (72) (3,789)
Repurchase of common stock (3,191) (1,151)
Offering costs on issuance of common stock (13) (94,727)
Distributions to stockholders (28,071) (16,567)
Proceeds from issuance of common stock 0 966,157
Payments to escrow funds (996) (1,003)
Collections of escrow funds 897 2,105
Purchase of noncontrolling interest in consolidated partnerships (9,825) 0
Distributions to noncontrolling interests in consolidated partnerships (1,172) (1,395)
Net cash provided by financing activities 149,473 861,453
Net change in cash and cash equivalents (81,597) 467,655
Cash and cash equivalents - Beginning of period 113,093 7,511
Cash and cash equivalents - End of period 31,496 475,166
Supplemental cash flow disclosure:    
Interest paid, net of interest capitalized of $2,314 and $531, respectively 13,579 7,426
Supplemental disclosure of non-cash transactions:    
Common stock issued through distribution reinvestment plan 33,511 17,126
Net unrealized loss on interest rate swap (928) (1,508)
Real estate-related notes receivables converted to investment in real estate 13,674 20,000
Accrued contingent consideration $ 0 $ 5,030