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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 12,608 $ 2,849
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 35,809 18,591
Amortization of deferred financing costs 947 594
Amortization of lease inducements and above/below market lease intangibles 1,989 838
Straight-line rental revenue/expense (7,204) (3,889)
Amortization of above market assumed debt (118) (55)
Loss on sale of investment property 0 15
Equity in income of unconsolidated entity (58) (52)
Distribution from unconsolidated entity 27 53
Change in fair value of derivative (67) (154)
Provision for bad debts 104 0
Non-cash share compensation 2,599 1,944
Change in operating assets and liabilities:    
Tenant receivables (1,001) (1,453)
Other assets (3,081) (1,231)
Accounts payable 1,079 397
Accrued expenses and other liabilities 15,908 4,013
Net cash provided by operating activities 59,541 22,460
Cash Flows from Investing Activities:    
Proceeds on sales of investment property 0 1,550
Acquisition of investment properties, net (872,497) (336,128)
Capital expenditures on existing investment properties (6,980) (1,815)
Real estate loans receivable (3,478) (9,000)
Repayment of note receivable 4,118 0
Note receivable 0 4,123
Repayment of real estate loan receivable (4,500) 0
Leasing commissions (116) (63)
Lease inducements (4,870) (2,445)
Net cash used in investing activities (879,323) (352,024)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 764,205 318,041
Proceeds from credit facility borrowings 528,000 191,000
Payment on credit facility borrowings (545,000) (138,000)
Proceeds from issuance of mortgage debt 21,500 0
Proceeds from issuance of senior unsecured notes 150,000 0
Principal payments on mortgage debt 1,089 966
Debt issuance costs (4,313) (144)
Dividends paid - shareholders (44,151) (31,613)
Distributions to noncontrolling interest - Operating Partnership (1,616) (1,523)
Preferred distributions paid - OP Unit holder (704) (238)
Distributions to noncontrolling interest - partially owned properties (363) (114)
Purchase of Series A Preferred Units (9,756) 0
Purchase of OP Units (2,129) (253)
Net cash provided by financing activities 854,584 336,190
Net increase in cash and cash equivalents 34,802 6,626
Cash and cash equivalents, beginning of period 3,143 15,923
Cash and cash equivalents, end of period 37,945 22,549
Supplemental disclosure of cash flow information - interest paid during the period 4,300 3,332
Supplemental disclosure of noncash activity - assumed debt 0 18,690
Issuance of OP Units in connection with acquisition 6,869 20,438
Supplemental disclosure of noncash activity - contingent consideration $ 156 $ 1,482