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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income $ 18,597 $ 24,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of buildings and tenant improvements 21,404 19,385
Amortization of leasing costs and in-place lease intangibles 7,249 8,633
Accrued straight-line rental revenue (1,789) (927)
Amortization of leasing incentives and above or below-market rents (211) (140)
Accrued straight-line ground rent expense 187 401
Bad debt expense 245 425
Noncash stock compensation 1,072 1,047
Impairment charges 101 50
Noncash interest expense 827 940
Loss on extinguishment of debt 11 0
Gain on real estate dispositions 0 (8,087)
Change in the fair value of interest rate derivatives (1,256) (300)
Changes in operating assets and liabilities:    
Property assets (3,610) (3,871)
Property liabilities 2,031 3,498
Construction assets 3,044 4,065
Construction liabilities (13,558) (12,648)
Interest receivable (7,147) (4,962)
Net cash provided by operating activities 27,197 31,666
INVESTING ACTIVITIES    
Development of real estate investments (102,183) (28,731)
Tenant and building improvements (8,281) (8,104)
Acquisitions of real estate investments, net of cash received (57,541) (28,020)
Dispositions of real estate investments, net of selling costs 4,271 12,557
Notes receivable issuances (10,281) (10,792)
Leasing costs (4,048) (149)
Leasing incentives (95) (147)
Contributions to equity method investments (5,400) (934)
Net cash used for investing activities (183,558) (64,320)
FINANCING ACTIVITIES    
Proceeds from sales of common stock 60,439 96,044
Offering costs (910) (4,663)
Common shares tendered for tax withholding (343) (289)
Debt issuances, credit facility and construction loan borrowings 274,427 124,206
Debt and credit facility repayments, including principal amortization (138,122) (152,201)
Debt issuance costs (1,317) (751)
Redemption of operating partnership units (2,531) (229)
Dividends and distributions (37,550) (31,740)
Net cash provided by financing activities 154,093 30,377
Net decrease in cash and cash equivalents (2,268) (2,277)
Cash, cash equivalents, and restricted cash, beginning of period 22,916 25,193
Cash, cash equivalents, and restricted cash, end of period 20,648 22,916
Supplemental Disclosures (noncash transactions):    
Increase in dividends payable 1,610 2,214
Increase (decrease) in accounts payable and accrued liabilities for capital expenditures 10,103 (5,874)
Issuance of operating partnership units for acquisitions 1,702 982
Operating Partnership units redeemed for common shares 3,151 0
Redeemable noncontrolling interest from development 0 2,000
Deferred payment for land acquisition $ 0 $ 600