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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net income $ 24,157 $ 37,610
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 19,385 17,055
Amortization of leasing costs and in-place lease intangibles 8,633 8,581
Accrued straight-line rental revenue (927) (765)
Amortization of leasing incentives and above or below-market rents (140) (61)
Accrued straight-line ground rent expense 401 291
Bad debt expense 425 178
Noncash stock compensation 1,047 864
Impairment charges 50 184
Noncash interest expense 940 687
Noncash loss on extinguishment of debt 0 82
Gain on real estate dispositions (8,087) (30,440)
Change in the fair value of interest rate derivatives (300) 2,264
Changes in operating assets and liabilities:    
Property assets (3,612) (4,938)
Property liabilities 3,209 3,856
Construction assets 4,065 (5,863)
Construction liabilities (12,648) 9,197
Net cash provided by operating activities 36,598 38,782
INVESTING ACTIVITIES    
Development of real estate investments (28,731) (48,671)
Tenant and building improvements (8,104) (4,399)
Acquisitions of real estate investments, net of cash received (28,020) (177,865)
Dispositions of real estate investments 12,557 96,312
Notes receivable issuances (15,754) (42,110)
Decrease in capital improvement reserves (203) (210)
Leasing costs (149) (1,601)
Leasing incentives (147) (188)
Contributions to equity method investments (934) (8,949)
Net cash used for investing activities (69,485) (187,681)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 96,044 51,088
Offering costs (4,663) (1,183)
Debt issuances, credit facility and construction loan borrowings 124,206 290,105
Debt and credit facility repayments, including principal amortization (152,201) (167,659)
Debt issuance costs (751) (1,791)
Redemption of operating partnership units (229) (58)
Dividends and distributions (31,740) (24,702)
Net cash provided by financing activities 30,666 145,800
Net decrease in cash and cash equivalents (2,221) (3,099)
Cash and cash equivalents, beginning of period 21,942 26,989
Cash and cash equivalents, end of period 19,721 23,890
Noncash transactions:    
Redeemable noncontrolling interest from development 2,000 0
Deferred payment for land acquisition $ 600 $ 0