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Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 15,554 $ 5,678
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 22,356 19,227
Non-cash interest income adjustments 18 0
Amortization of deferred financing costs 2,620 1,507
Stock-based compensation expense 5,749 3,249
Amortization of premium on notes payable (12) (11)
Amortization of premium on senior unsecured notes (139) 0
Straight-line rental income adjustments (2,857) (720)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 116 556
Accounts payable and accrued liabilities 7,211 7,860
Restricted cash (2,714) (2,837)
Net cash provided by operating activities 47,902 34,509
Cash flows from investing activities:    
Acquisitions of real estate (98,050) (187,700)
Origination of note receivable (22,111) 0
Acquisition of note receivable 0 (5,348)
Additions to real estate (1,039) (86)
Net cash used in investing activities (121,200) (193,134)
Cash flows from financing activities:    
Proceeds from secured revolving credit facility 42,500  
Proceeds from mortgage notes payables 35,829 0
Proceeds from issuance of senior unsecured notes 106,000 0
Payments on secured revolving credit facility (42,500) 0
Principal payments on mortgage notes payable (36,701) (2,249)
Payments of deferred financing costs (7,045) (495)
Issuance of common stock 144 163,431
Dividends paid (36,702) (19,878)
Net cash provided by (used in) financing activities 61,525 140,809
Net decrease in cash and cash equivalents (11,773) (17,816)
Cash and cash equivalents, beginning of period 42,250 74,233
Cash and cash equivalents, end of period 30,477 56,417
Supplemental disclosure of cash flow information:    
Interest paid $ 17,116 $ 17,024