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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net (loss) income $ (4,193) $ 5,045
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 13,577 8,298
Amortization of in-place lease assets 18,633 12,114
Amortization (including accelerated write-off) of deferred costs 1,160 989
Amortization of mortgage premium (493) (17)
Accretion of market lease and other intangibles, net (1,486) (1,181)
Bad debt expense 778 796
Fair value adjustment to contingent purchase price consideration 1,784 (13,802)
Impairment charges 0 4,434
Loss on disposition of land 4 0
Share-based compensation 15 19
Ineffective portion of derivative 3 1
Changes in assets and liabilities:    
Prepaid expenses and other assets (4,483) (7,333)
Accounts payable and accrued expenses 2,357 4,997
Deferred rent and other liabilities (274) 816
Restricted cash (258) (249)
Net cash provided by operating activities 27,124 14,927
Cash flows from investing activities:    
Investment in real estate and other assets 0 (202,022)
Deposits for real estate acquisitions 0 (456)
Proceeds from disposition of land 496 0
Proceeds from contingent purchase price consideration 0 13,187
Restricted cash (477) (308)
Capital expenditures (2,979) (3,603)
Net cash used in investing activities (2,960) (193,202)
Cash flows from financing activities:    
Payments on mortgage notes payable (549) (181)
Proceeds from credit facility 0 70,000
Payments of deferred financing costs 0 (37)
Common stock repurchases (5,051) (766)
Payments of offering costs and fees related to stock issuances, net 0 (1,176)
Distributions paid (14,532) (12,889)
Net cash (used in) provided by financing activities (20,132) 54,951
Net change in cash and cash equivalents 4,032 (123,324)
Cash and cash equivalents, beginning of period 40,033 170,963
Cash and cash equivalents, end of period 44,065 47,639
Supplemental Disclosures:    
Cash paid for interest 6,248 2,023
Cash paid for income taxes 192 73
Non-Cash Financing Activities:    
Common stock issued through distribution reinvestment plan 16,752 17,493
Change in accrued common stock repurchases (5,026) 3,709
Change in capital improvements in accounts payable and accrued expenses $ 1,501 $ 969