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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 27,585 $ 17,330
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity in income from unconsolidated real estate entities (11) (1,451)
Provision for doubtful accounts 863 1,105
Depreciation and amortization 46,085 37,165
Amortization of (below) above market lease intangibles, net (1,203) 17
Accretion of loan origination fees (150) (75)
Deferred interest income on notes receivable 84 (42)
Loss on extinguishment of debt 22 0
Gain on sale of real estate (19,237) (11,563)
Amortization of debt issuance costs 853 748
Accretion of premium on notes payable (131) (178)
Equity based compensation expense 4,070 2,879
Straight-line rent (3,259) (3,412)
Change in working capital components:    
Rents and other receivables (1,154) (688)
Deferred leasing costs (3,612) (3,787)
Other assets (2,301) (10)
Accounts payable, accrued expenses and other liabilities 6,227 3,910
Tenant security deposits 2,054 1,830
Prepaid rents 1,344 232
Net cash provided by operating activities 58,129 44,010
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of investments in real estate (532,108) (308,277)
Capital expenditures (29,182) (23,687)
Acquisition related deposits (1,075) (400)
Distributions from unconsolidated real estate entities 11 5,530
Issuance of notes receivable 0 (5,700)
Principal repayments of note receivable 6,000 0
Proceeds from sale of real estate 64,406 20,435
Net cash used in investing activities (491,948) (312,099)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of preferred stock, net 0 87,032
Issuance of common stock, net 303,868 174,302
Proceeds from notes payable 552,000 263,000
Repayment of notes payable (387,497) (178,923)
Debt issuance costs (2,266) (1,924)
Debt extinguishment costs (193) 0
Dividends paid to preferred stockholders (3,966) 0
Dividends paid to common stockholders (28,955) (23,935)
Distributions paid to common unitholders (981) (900)
Repurchase of common shares to satisfy employee tax withholding requirements (798) (501)
Net cash provided by financing activities 431,212 318,151
(Decrease) increase in cash and cash equivalents (2,607) 50,062
Cash and cash equivalents, beginning of period 15,525 5,201
Cash and cash equivalents, end of period 12,918 55,263
Supplemental disclosure of cash flow information:    
Cash paid for interest (net of capitalized interest of $1,311 and $1,315 for the nine months ended September 30, 2017 and 2016, respectively) 14,105 11,125
Supplemental disclosure of noncash investing and financing transactions:    
Capital expenditure accruals 1,659 2,886
Accrual of dividends 11,580 9,214
Accrual of offering costs $ 0 $ 427