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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES    
Net income $ 13,696 $ 29,664
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 12,930 11,105
Amortization of leasing costs and in-place lease intangibles 5,849 5,646
Accrued straight-line rental revenue (640) (448)
Amortization of leasing incentives and above or below-market rents (90) (49)
Accrued straight-line ground rent expense 273 132
Bad debt expense 166 95
Noncash stock compensation 832 652
Impairment charges 31 35
Noncash interest expense 560 475
Gain on real estate dispositions (3,395) (26,687)
Change in the fair value of derivatives (213) 2,762
Changes in operating assets and liabilities:    
Property assets (861) (2,019)
Property liabilities (2,778) (1,543)
Construction assets (6,495) 3,264
Construction liabilities 21 (4,136)
Net cash provided by operating activities 19,886 18,948
INVESTING ACTIVITIES    
Development of real estate investments (14,997) (32,669)
Tenant and building improvements (4,338) (2,875)
Acquisitions of real estate investments, net of cash received (6,767) (164,978)
Dispositions of real estate investments 4,441 92,775
Notes receivable issuances (13,836) (31,486)
Decrease in restricted cash (36) (179)
Leasing costs (807) (1,003)
Leasing incentives (2) (87)
Contributions to equity method investments (715) (8,887)
Net cash used for investing activities (37,057) (149,389)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 96,044 31,180
Offering costs (4,663) (793)
Debt issuances, credit facility and construction loan borrowings 73,906 185,239
Debt and credit facility repayments, including principal amortization (130,674) (75,700)
Debt issuance costs (471) (559)
Redemption of operating partnership units (229) (58)
Dividends and distributions (20,097) (15,873)
Net cash provided by financing activities 13,816 123,436
Net decrease in cash and cash equivalents (3,355) (7,005)
Cash and cash equivalents, beginning of period 21,942 26,989
Cash and cash equivalents, end of period 18,587 19,984
Noncash transactions:    
Redeemable noncontrolling interest from development 2,000 0
Deferred payment for land acquisition $ 600 $ 0