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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 $ (9,931) $ 3,277
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 33,723 33,473
Amortization of in-place lease assets 17,291 17,300
Amortization (including accelerated write-off) of deferred costs 2,267 2,608
Amortization of mortgage premiums on borrowings (2,241) (3,734)
Discount accretion and premium amortization on investments, net (15) 0
Amortization of market lease intangibles, net 534 833
Share-based compensation 20 14
Gain on sale of real estate investments (454) 0
Gain on sale of other real estate securities 0 (546)
Changes in assets and liabilities:    
Prepaid expenses and other assets (4,344) (4,120)
Accounts payable and accrued expenses 1,929 1,115
Deferred rent and other liabilities (564) (178)
Net cash provided by operating activities 38,215 50,042
Cash flows from investing activities:    
Proceeds from sale of commercial mortgage loans 56,884 0
Investments in real estate and other assets (34,244) 0
Proceeds from sale of real estate investments 15,471 0
Proceeds from sale of other real estate securities 0 9,253
Net cash provided by investing activities 38,111 9,253
Cash flows from financing activities:    
Payments on mortgage notes payable (500) (478)
Payments of deferred financing costs 0 (2,000)
Refunds of deferred financing costs 88 0
Common stock repurchases (16,253) (11,649)
Distributions paid (41,166) (24,195)
Restricted cash (2) 0
Net cash used in financing activities (57,833) (38,322)
Net change in cash and cash equivalents 18,493 20,973
Cash and cash equivalents, beginning of period 130,500 74,760
Cash and cash equivalents, end of period 148,993 95,733
Supplemental Disclosures:    
Cash paid for interest 23,857 17,137
Cash paid for income taxes 670 787
Non-Cash Financing Activities:    
Mortgage notes payable released in connection with disposition of real estate 13,389 0
Common stock issued through distribution reinvestment plan $ 12,605 $ 29,902