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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 70,205,000 $ 79,383,000 $ 46,909,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 68,472,000 63,079,000 43,332,000
Non-cash interest income adjustments 582,000 626,000 325,000
Amortization of deferred financing costs 5,040,000 5,143,000 4,045,000
Stock-based compensation expense 7,496,000 6,123,000 9,851,000
Amortization of debt discount (premium) 109,000 103,000 (10,000)
Loss on extinguishment of debt 556,000 0 1,576,000
Straight-line rental income adjustments (21,984,000) (24,320,000) (19,821,000)
Provision for doubtful accounts and loan losses 5,543,000 12,842,000 3,594,000
Change in fair value of contingent consideration (1,526,000) (1,550,000) (1,560,000)
Gain on consolidation 0 (710,000) 0
Net loss (gain) on sales of real estate 6,122,000 161,000 (3,914,000)
Impairment of real estate 29,811,000 0 0
Changes in operating assets and liabilities:      
Prepaid expenses and other assets (1,452,000) (22,794,000) (7,993,000)
Accounts payable and accrued liabilities 11,462,000 6,977,000 12,635,000
Restricted cash (3,697,000) (3,962,000) (3,632,000)
Net cash provided by operating activities 176,739,000 121,101,000 85,337,000
Cash flows from investing activities:      
Acquisitions of real estate (153,579,000) (461,330,000) (771,479,000)
Origination and fundings of loans receivable (9,675,000) (49,687,000) (66,397,000)
Origination and fundings of preferred equity investments (7,348,000) (12,804,000) (15,486,000)
Additions to real estate (1,003,000) (3,689,000) (1,471,000)
Repayment of loans receivable 215,962,000 5,803,000 1,097,000
Release of contingent consideration held in escrow 0 5,240,000 0
Net proceeds from sale of real estate 98,006,000 27,241,000 27,264,000
Net cash (used in) provided by investing activities 142,363,000 (489,226,000) (826,472,000)
Cash flows from financing activities:      
Proceeds from issuance of senior unsecured notes 0 0 499,250,000
Principal payments on senior unsecured notes 0 0 (211,250,000)
Net (repayments of) proceeds from revolving credit facility (229,000,000) 187,000,000 132,500,000
Proceeds from term loan 69,360,000 73,242,000 0
Proceeds from mortgage notes 0 28,735,000 57,703,000
Principal payments on mortgage notes (14,768,000) (3,132,000) (89,110,000)
Payments of deferred financing costs (5,937,000) (1,452,000) (19,131,000)
Contributions by noncontrolling interests 0 179,000 0
Issuance of common stock, net (1,289,000) 139,403,000 510,147,000
Dividends paid on common and preferred stock (119,264,000) (109,897,000) (81,489,000)
Net cash provided by (in used) financing activities (300,898,000) 314,078,000 798,620,000
Net increase (decrease) in cash and cash equivalents 18,204,000 (54,047,000) 57,485,000
Effect of foreign currency translation on cash and cash equivalents 25,000 (312,000) 0
Cash and cash equivalents, beginning of period 7,434,000 61,793,000 4,308,000
Cash and cash equivalents, end of period 25,663,000 7,434,000 61,793,000
Supplemental disclosure of cash flow information:      
Interest paid 59,234,000 53,875,000 34,468,000
Supplemental disclosure of non-cash investing and financing activities:      
Assumption of mortgage indebtedness 0 30,456,000 14,102,000
Increase in real estate investments due to variable interest consolidation 0 10,700,000 0
Real estate acquired through loan receivable foreclosure 10,100,000 0 0
Decrease in loans receivable and preferred equity due to variable interest consolidation 0 (8,615,000) 0
Repayment of preferred equity investments 0 0 6,949,000
Decrease in loans receivables/increase in real estate $ 0 $ 0 $ 16,832,000