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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 158,365,000 $ 70,205,000 $ 79,383,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 113,882,000 68,472,000 63,079,000
Amortization of above and below market lease intangibles, net (912,000) 0 0
Non-cash interest income adjustments (769,000) 582,000 626,000
Non-cash interest expense 7,776,000 5,678,000 5,279,000
Stock-based compensation expense 8,359,000 7,496,000 6,123,000
Loss on extinguishment of debt 553,000 556,000 0
Straight-line rental income adjustments (29,440,000) (21,984,000) (24,320,000)
Provision for doubtful accounts and loan losses 17,113,000 5,543,000 12,842,000
Change in fair value of contingent consideration (426,000) (1,526,000) (1,550,000)
Gain on consolidation 0 0 (710,000)
Net (gain) loss on sales of real estate (52,029,000) 6,122,000 161,000
Impairment of real estate 1,326,000 29,811,000 0
Changes in operating assets and liabilities:      
Accounts receivable, prepaid expenses and other assets (16,734,000) (1,981,000) (22,827,000)
Accounts payable and accrued liabilities (67,257,000) 11,462,000 6,977,000
Restricted cash (6,321,000) (3,697,000) (3,962,000)
Net cash provided by operating activities 133,486,000 176,739,000 121,101,000
Cash flows from investing activities:      
Acquisition of real estate (419,905,000) (153,579,000) (461,330,000)
Cash received in CCP Merger 77,859,000 0 0
Origination and fundings of loans receivable (17,239,000) (9,675,000) (49,687,000)
Origination and fundings of preferred equity investments (2,749,000) (7,348,000) (12,804,000)
Additions to real estate (6,954,000) (1,003,000) (3,689,000)
Repayment of loans receivable 32,430,000 215,962,000 5,803,000
Repayment of preferred equity investments 3,755,000 0 0
Release of contingent consideration held in escrow 0 0 5,240,000
Net proceeds from sale of real estate 92,731,000 98,006,000 27,241,000
Net cash (used in) provided by investing activities (240,072,000) 142,363,000 (489,226,000)
Cash flows from financing activities:      
Net proceeds from (repayments of) revolving credit facility 253,000,000 (229,000,000) 187,000,000
Proceeds from term loans 181,000,000 69,360,000 73,242,000
Proceeds from secured debt 0 0 28,735,000
Principal payments on secured debt (4,145,000) (14,768,000) (3,132,000)
Payments of deferred financing costs (15,337,000) (5,937,000) (1,452,000)
Payment of contingent consideration (382,000) 0 0
Distributions to noncontrolling interests (30,000) 0 0
Contributions by noncontrolling interests 0 0 179,000
Issuance of common stock, net 366,800,000 (1,289,000) 139,403,000
Dividends paid on common and preferred stock (182,089,000) (119,264,000) (109,897,000)
Net cash provided by (used in) financing activities 598,817,000 (300,898,000) 314,078,000
Net increase (decrease) in cash and cash equivalents 492,231,000 18,204,000 (54,047,000)
Effect of foreign currency translation on cash and cash equivalents 738,000 25,000 (312,000)
Cash and cash equivalents, beginning of period 25,663,000 7,434,000 61,793,000
Cash and cash equivalents, end of period 518,632,000 25,663,000 7,434,000
Supplemental disclosure of cash flow information:      
Interest paid 69,686,000 59,234,000 53,875,000
Income taxes paid 714,000 854,000 657,000
Supplemental disclosure of non-cash investing and financing activities:      
Acquisition of business in CCP Merger (see Note 3) 3,726,092,000 0 0
Assumption of indebtedness in CCP Merger (1,751,373,000) 0 0
Stock exchanged in CCP Merger (2,052,578,000) 0 0
Real estate acquired through loan receivable foreclosure 19,096,000 10,100,000 0
Proceeds from sale of real estate held by exchange accommodation titleholder variable interest entities 57,512,000 0 0
Decrease in loans receivable and other investments due to acquisition of real estate (6,913,000) 0 0
Assumption of secured indebtedness 0 0 30,456,000
Increase in real estate investments due to variable interest consolidation 0 0 10,700,000
Decrease in loans receivable and preferred equity due to variable interest consolidation $ 0 $ 0 $ (8,615,000)