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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 22,902 $ 6,832
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 59,778 31,067
Amortization of deferred financing costs 1,796 953
Amortization of lease inducements and above/below market lease intangibles 2,994 1,559
Straight-line rental revenue/expense (12,156) (6,262)
Amortization of above market assumed debt (177) (114)
Loss on sale of investment property 0 (130)
Equity in income of unconsolidated entity (85) (78)
Distribution from unconsolidated entity 82 79
Change in fair value of derivative (67) (116)
Provision for bad debts 152 26
Non-cash share compensation 3,497 2,929
Change in operating assets and liabilities:    
Tenant receivables (7,543) (2,448)
Other assets (6,320) (1,268)
Accounts payable 1,578 693
Accrued expenses and other liabilities 23,832 7,929
Net cash provided by operating activities 89,423 41,651
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability (840) 0
Cash Flows from Investing Activities:    
Proceeds on sales of investment property 0 3,039
Acquisition of investment properties, net (1,044,601) (629,888)
Capital expenditures on existing investment properties (8,665) (3,974)
Real estate loans receivable (8,153) (12,404)
Repayment of note receivable 4,118 0
Note receivable 0 4,123
Repayment of real estate loan receivable (4,500) 0
Leasing commissions (707) (278)
Lease inducements (4,870) (2,478)
Net cash used in investing activities (1,058,378) (650,106)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 764,292 318,170
Proceeds from credit facility borrowings 921,000 473,000
Payment on credit facility borrowings (860,000) (138,000)
Proceeds from issuance of mortgage debt 21,500 0
Proceeds from issuance of senior unsecured notes 225,000 0
Principal payments on mortgage debt 1,646 1,486
Debt issuance costs (4,693) (3,029)
Dividends paid - shareholders (74,515) (47,665)
Distributions to noncontrolling interest - Operating Partnership (2,410) (2,374)
Preferred distributions paid - OP Unit holder (1,115) (360)
Distributions to noncontrolling interest - partially owned properties (450) (158)
Purchase of Series A Preferred Units (9,756) 0
Purchase of OP Units (2,999) (253)
Common shares repurchased and retired 0 (595)
Net cash provided by financing activities 974,208 597,250
Net increase (decrease) in cash and cash equivalents 5,253 (11,205)
Cash and cash equivalents, beginning of period 3,143 15,923
Cash and cash equivalents, end of period 8,396 4,718
Supplemental disclosure of cash flow information - interest paid during the period 6,971 6,010
Change in fair value of interest rate swap agreements 652 0
Supplemental disclosure of noncash activity - assumed debt 0 18,690
Issuance of OP Units in connection with acquisition 6,769 20,677
Supplemental disclosure of noncash activity - contingent consideration $ 156 $ 550