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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 32,812 $ 4,018
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 19,458 14,940
Net amortization of debt premiums and discounts and debt issuance costs 1,374 1,171
Amortization of acquired real estate leases and assumed real estate lease obligations 13,292 8,754
Amortization of deferred leasing costs 321 239
Provision for losses on rents receivable 103 99
Straight line rental income (6,302) (5,827)
Loss on early extinguishment of debt   6,845
Other non-cash expenses, net (285) 627
Equity in earnings of an investee (77) (72)
Change in assets and liabilities:    
Restricted cash 1,127 (309)
Rents receivable (1,235) (974)
Deferred leasing costs (3,411) (204)
Other assets (3,428) (4,772)
Accounts payable and other liabilities (15,001) 8,359
Rents collected in advance (856) (4,155)
Security deposits (7) (74)
Due to related persons 653 10,565
Net cash provided by operating activities 38,538 39,230
CASH FLOWS FROM INVESTING ACTIVITIES:    
Real estate acquisitions   (1,962,016)
Real estate improvements (1,395) (19)
Proceeds from sale of properties, net   509,045
Net cash used in investing activities (1,395) (1,452,990)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of senior unsecured notes, net   1,433,694
Proceeds from borrowings 40,000 1,550,000
Payments of borrowings (15,064) (1,486,064)
Debt issuance costs   (25,654)
Distributions to common shareholders (44,687) (37,735)
Purchase of noncontrolling interest (3,908)  
Distributions to noncontrolling interest (66) (70)
Net cash (used in) provided by financing activities (23,725) 1,434,171
Increase in cash and cash equivalents 13,418 20,411
Cash and cash equivalents at beginning of period 17,876 13,504
Cash and cash equivalents at end of period 31,294 33,915
SUPPLEMENTAL DISCLOSURE:    
Interest paid 32,821 3,601
Income taxes paid $ (83) $ (250)
NON-CASH INVESTING ACTIVITIES:    
Real estate acquired by issuance of shares   (716,666)
Real estate acquired by assumption of mortgage notes payable   $ (297,698)
Real estate sold by assumption of mortgage notes payable   29,955
Working capital assumed   (23,433)
NON-CASH FINANCING ACTIVITIES:    
Assumption of mortgage notes payable   297,698
Mortgage notes payable assumed in real estate sale   (29,955)
Issuance of SIR common shares   $ 716,666