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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES    
Net income $ 22,740 $ 7,533
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 13,998 10,611
Amortization of leasing costs and in-place lease intangibles 2,993 1,982
Accrued straight-line rental revenue (1,724) (1,730)
Amortization of leasing incentives and above or below-market rents 564 461
Accrued straight-line ground rent expense 224 236
Bad debt expense 123 48
Noncash stock compensation 755 720
Impairment charges 23 15
Noncash interest expense 791 410
Loss on extinguishment of debt 410  
Gain on real estate dispositions (13,407)  
Change in the fair value of derivatives 238 123
Changes in operating assets and liabilities, net of acquisitions:    
Property assets (2,524) (1,932)
Property liabilities 2,369 234
Construction assets (29,027) (4,298)
Construction liabilities 19,078 6,879
Net cash provided by operating activities 17,624 21,292
INVESTING ACTIVITIES    
Development of real estate investments (40,293) (77,094)
Tenant and building improvements (3,794) (4,622)
Acquisitions of real estate investments (64,945) (2,754)
Dispositions of real estate investments 50,613  
Government development grants 300 300
Decrease (increase) in restricted cash 742 (1,713)
Leasing costs (1,715) (1,524)
Leasing incentives (1,563) (63)
Net cash used for investing activities (60,655) (87,470)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 7,687 49,566
Offering costs (321) (320)
Debt issuances, credit facility and construction loan borrowings 200,267 92,409
Debt and credit facility payments, including principal amortization (153,321) (61,494)
Debt issuance costs (1,844) (35)
Redemption of operating partnership units (79)  
Dividends and distributions (20,050) (15,729)
Net cash provided by financing activities 32,339 64,397
Net decrease in cash and cash equivalents (10,692) (1,781)
Cash and cash equivalents, beginning of period 25,883 18,882
Cash and cash equivalents, end of period $ 15,191 $ 17,101