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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 10,328 $ 3,335
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,860 12,377
Non-cash interest income adjustments 9 0
Amortization of deferred financing costs 1,447 995
Stock-based compensation expense 3,842 2,478
Amortization of premium on notes payable (8) (8)
Straight-line rental income adjustments (1,690) (128)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (779) 219
Accounts payable and accrued liabilities (1,914) 485
Restricted cash (2,008) (1,825)
Net cash provided by operating activities 24,087 17,928
Cash flows from investing activities:    
Acquisitions of real estate (55,550) (74,000)
Origination of note receivable (21,176) 0
Acquisition of note receivable 0 (5,348)
Additions to real estate (730) (86)
Net cash used in investing activities (77,456) (79,434)
Cash flows from financing activities:    
Proceeds from secured revolving credit facility 42,500 0
Proceeds from mortgage notes payables 21,947 0
Principal payments on mortgage notes payable (22,464) (1,499)
Payments of deferred financing costs (3,435) (270)
Issuance of common stock 144 547
Dividends paid (24,463) (8,051)
Net cash provided by (used in) financing activities 14,229 (9,273)
Net decrease in cash and cash equivalents (39,140) (70,779)
Cash and cash equivalents, beginning of period 42,250 74,233
Cash and cash equivalents, end of period 3,110 3,454
Supplemental disclosure of cash flow information:    
Interest paid $ 14,677 $ 14,476