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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 39,472 $ 27,746
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,209 58,300
Amortization of Intangible Assets (387) (438)
Amortization of deferred financing costs 999 1,477
Gain on real estate disposal (36)  
Share-based compensation 5,305 4,766
Bad debt expense 310 826
Changes in operating assets and liabilities:    
Accounts receivable (4,214) (1,766)
Deferred rent receivable (5,423) (2,728)
Deferred leasing costs (11,242) (15,540)
Other assets (4,661) 35
Accounts payable and accrued expenses 4,045 (4,264)
Unearned revenue , prepaid rent and other liabilities 8,799 6,582
Deferred rent payable (737) (450)
Net cash provided by operating activities 103,439 74,546
CASH FLOWS FROM INVESTING ACTIVITIES    
Tenant improvements (5,356) (5,040)
Real estate improvements (72,443) (82,118)
Proceeds from real estate disposal 2,399  
Net cash used in investing activities (75,400) (87,158)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 1,171 1,555
Offering costs   (24)
Proceeds from revolving credit facility 55,000 72,000
Payments on revolving credit facility (163,250) (41,000)
Proceeds from senior unsecured term loan 150,000 100,000
Repayments of mortgage loans payable   (58,250)
Payments of loan fees and costs (2,315) (1,000)
Payments to net settle equity awards (4,256) (1,410)
Dividends and distributions (65,574) (55,304)
Net cash provided by financing activities (29,224) 16,567
Net change in cash and cash equivalents (1,185) 3,955
Cash and cash equivalents, beginning of period 10,662 5,313
Cash and cash equivalents, end of period 9,477 9,268
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest, net of capitalized amounts 4,501 2,958
NON-CASH INVESTING AND FINANCING ACTIVITY    
Construction costs payable capitalized to real estate 18,943 13,086
Accrual of dividends and distributions $ 22,688 $ 18,968