XML 76 R63.htm IDEA: XBRL DOCUMENT v2.4.0.8
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION Condensed Consolidating Statement of Cash Flows (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Condensed Financial Statements      
Net cash provided by operating activities $ 62,099 $ 56,252 $ 44,705
Cash flows from investing activities:      
Acquisitions of real estate (125,955) (205,424) (204,500)
Payments to Acquire Notes Receivable     5,348
Origination of loans receivable (165,960) (22,180) 0
Preferred equity investments (7,038) 0 0
Additions to real estate (764) (1,046) (86)
Repayment of note receivable 0 10,000 5,348
Proceeds from sale of real estate 2,208 0 0
Investment in Subsidiary   0 0
Distribution from Subsidiary 0 0 0
Intercompany financing 0 0 0
Net cash (used in) provided by investing activities (297,509) (218,650) (204,586)
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 200,000 106,000 0
Proceeds from secured revolving credit facility 143,500 135,000 0
Proceeds from mortgage notes payable 0 56,651 0
Principal payments on senior unsecured notes (113,750) 0 0
Payments on secured revolving credit facility (100,500) (42,500) 0
Principal payments on mortgage notes payable (10,994) (62,226) (3,027)
Payments of deferred financing costs (8,954) (6,800) (677)
Payment of contingent consideration (1,300) 0 0
Issuance of preferred stock 138,249 0 0
Issuance of common stock 34,517 53 163,242
Dividends paid (58,151) (48,929) (31,640)
Contribution from Parent   0 0
Distribution to Parent 0 0 0
Intercompany financing 0 0 0
Net cash provided by financing activities 222,617 137,249 127,898
Net (decrease) increase in cash and cash equivalents (12,793) (25,149) (31,983)
Cash and cash equivalents, beginning of period 17,101 42,250 74,233
Cash and cash equivalents, end of period 4,308 17,101 42,250
Parent Company
     
Condensed Financial Statements      
Net cash provided by operating activities 47,810 53,584 41,298
Cash flows from investing activities:      
Acquisitions of real estate 0 0 0
Payments to Acquire Notes Receivable     5,348
Origination of loans receivable 0 0  
Preferred equity investments 0    
Additions to real estate 0 (14) (86)
Repayment of note receivable   0 5,348
Proceeds from sale of real estate 0    
Investment in Subsidiary   (7,191) (164,030)
Distribution from Subsidiary 4,066 1,751 3,307
Intercompany financing (178,015) (25,915) (41,196)
Net cash (used in) provided by investing activities (173,949) (31,369) (202,005)
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 0 0  
Proceeds from secured revolving credit facility 0 0  
Proceeds from mortgage notes payable   0  
Principal payments on senior unsecured notes 0    
Payments on secured revolving credit facility 0 0  
Principal payments on mortgage notes payable 0 0 0
Payments of deferred financing costs 0 0 0
Payment of contingent consideration 0    
Issuance of preferred stock 138,249    
Issuance of common stock 34,517 53 163,242
Dividends paid (58,151) (48,929) (31,640)
Contribution from Parent   0 0
Distribution to Parent 0 0 0
Intercompany financing 0 0 0
Net cash provided by financing activities 114,615 (48,876) 131,602
Net (decrease) increase in cash and cash equivalents (11,524) (26,661) (29,105)
Cash and cash equivalents, beginning of period 15,075 41,736 70,841
Cash and cash equivalents, end of period 3,551 15,075 41,736
Issuers
     
Condensed Financial Statements      
Net cash provided by operating activities 0 0 0
Cash flows from investing activities:      
Acquisitions of real estate 0 0 0
Payments to Acquire Notes Receivable     0
Origination of loans receivable 0 0  
Preferred equity investments 0    
Additions to real estate 0 0 0
Repayment of note receivable   0 0
Proceeds from sale of real estate 0    
Investment in Subsidiary   (7,191) (96)
Distribution from Subsidiary 4,066 1,751 3,307
Intercompany financing (258,819) (128,721) (204,700)
Net cash (used in) provided by investing activities (254,753) (134,161) (201,489)
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 200,000 106,000  
Proceeds from secured revolving credit facility 0 0  
Proceeds from mortgage notes payable   0  
Principal payments on senior unsecured notes (113,750)    
Payments on secured revolving credit facility 0 0  
Principal payments on mortgage notes payable 0 0 0
Payments of deferred financing costs (5,446) (3,194) (430)
Payment of contingent consideration 0    
Issuance of preferred stock 0    
Issuance of common stock 0 0 0
Dividends paid 0 0 0
Contribution from Parent   7,191 164,030
Distribution to Parent (4,066) (1,751) (3,307)
Intercompany financing 178,015 25,915 41,196
Net cash provided by financing activities 254,753 134,161 201,489
Net (decrease) increase in cash and cash equivalents 0 0 0
Cash and cash equivalents, beginning of period 0 0 0
Cash and cash equivalents, end of period 0 0 0
Combined Guarantor Subsidiaries
     
Condensed Financial Statements      
Net cash provided by operating activities 0 0 0
Cash flows from investing activities:      
Acquisitions of real estate (125,955) (205,424) (204,500)
Payments to Acquire Notes Receivable     0
Origination of loans receivable (165,960) (22,180)  
Preferred equity investments (7,038)    
Additions to real estate (764) (1,032) 0
Repayment of note receivable   10,000 0
Proceeds from sale of real estate 0    
Investment in Subsidiary   0 0
Distribution from Subsidiary 0 0 0
Intercompany financing 0 0 0
Net cash (used in) provided by investing activities (299,717) (218,636) (204,500)
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 0 0  
Proceeds from secured revolving credit facility 143,500 135,000  
Proceeds from mortgage notes payable   0  
Principal payments on senior unsecured notes 0    
Payments on secured revolving credit facility (100,500) (42,500)  
Principal payments on mortgage notes payable 0 0 0
Payments of deferred financing costs (3,010) (2,585) (200)
Payment of contingent consideration (1,300)    
Issuance of preferred stock 0    
Issuance of common stock 0 0 0
Dividends paid 0 0 0
Contribution from Parent   0 0
Distribution to Parent 0 0 0
Intercompany financing 261,027 128,721 204,700
Net cash provided by financing activities 299,717 218,636 204,500
Net (decrease) increase in cash and cash equivalents 0 0 0
Cash and cash equivalents, beginning of period 0 0 0
Cash and cash equivalents, end of period 0 0 0
Combined Non-Guarantor Subsidiaries
     
Condensed Financial Statements      
Net cash provided by operating activities 14,289 2,668 3,407
Cash flows from investing activities:      
Acquisitions of real estate 0 0 0
Payments to Acquire Notes Receivable     0
Origination of loans receivable 0 0  
Preferred equity investments 0    
Additions to real estate 0 0 0
Repayment of note receivable   0 0
Proceeds from sale of real estate 2,208    
Investment in Subsidiary   0 0
Distribution from Subsidiary 0 0 0
Intercompany financing 0 0 0
Net cash (used in) provided by investing activities 2,208 0 0
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 0 0  
Proceeds from secured revolving credit facility 0 0  
Proceeds from mortgage notes payable   56,651  
Principal payments on senior unsecured notes 0    
Payments on secured revolving credit facility 0 0  
Principal payments on mortgage notes payable (10,994) (62,226) (3,027)
Payments of deferred financing costs (498) (1,021) (47)
Payment of contingent consideration 0    
Issuance of preferred stock 0    
Issuance of common stock 0 0 0
Dividends paid 0 0 0
Contribution from Parent   7,191 96
Distribution to Parent (4,066) (1,751) (3,307)
Intercompany financing (2,208) 0 0
Net cash provided by financing activities (17,766) (1,156) (6,285)
Net (decrease) increase in cash and cash equivalents (1,269) 1,512 (2,878)
Cash and cash equivalents, beginning of period 2,026 514 3,392
Cash and cash equivalents, end of period 757 2,026 514
Elimination
     
Condensed Financial Statements      
Net cash provided by operating activities 0 0 0
Cash flows from investing activities:      
Acquisitions of real estate 0 0 0
Payments to Acquire Notes Receivable     0
Origination of loans receivable 0 0  
Preferred equity investments 0    
Additions to real estate 0 0 0
Repayment of note receivable   0 0
Proceeds from sale of real estate 0    
Investment in Subsidiary   14,382 164,126
Distribution from Subsidiary (8,132) (3,502) (6,614)
Intercompany financing 436,834 154,636 245,896
Net cash (used in) provided by investing activities 428,702 165,516 403,408
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 0 0  
Proceeds from secured revolving credit facility 0 0  
Proceeds from mortgage notes payable   0  
Principal payments on senior unsecured notes 0    
Payments on secured revolving credit facility 0 0  
Principal payments on mortgage notes payable 0 0 0
Payments of deferred financing costs 0 0 0
Payment of contingent consideration 0    
Issuance of preferred stock 0    
Issuance of common stock 0 0 0
Dividends paid 0 0 0
Contribution from Parent   (14,382) (164,126)
Distribution to Parent 8,132 3,502 6,614
Intercompany financing (436,834) (154,636) (245,896)
Net cash provided by financing activities (428,702) (165,516) (403,408)
Net (decrease) increase in cash and cash equivalents 0 0 0
Cash and cash equivalents, beginning of period 0 0 0
Cash and cash equivalents, end of period $ 0 $ 0 $ 0