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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities:    
Net income $ 11,332 $ 6,716
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 38,576 27,933
Amortization of deferred financing costs 618 549
Amortization of lease inducements and above/below-market lease intangibles 1,190 1,307
Straight-line rental revenue/expense (6,450) (4,508)
Amortization of discount on unsecured senior notes 142 20
Amortization of above market assumed debt (16) (59)
Gain on sale of investment properties (69) 0
Equity in income of unconsolidated entities (28) (28)
Distributions from unconsolidated entities 26 55
Change in fair value of derivative 2 165
Provision for bad debts (141) (127)
Non-cash share compensation 2,605 1,490
Net change in fair value of contingent consideration 0 (70)
Change in operating assets and liabilities:    
Tenant receivables 5,437 2,703
Other assets (222) (287)
Accounts payable (8,461) (1,297)
Accrued expenses and other liabilities (3,651) (676)
Net cash provided by operating activities 40,890 33,886
Cash Flows from Investing Activities:    
Proceeds on sales of investment properties 2,440 0
Acquisition of investment properties, net (84,202) (174,737)
Escrowed cash - acquisition deposits / earnest deposits (2,720) 1,375
Capital expenditures on existing investment properties (5,608) (3,434)
Issuance of real estate loans receivable (2,000) (2,279)
Repayment of real estate loan receivable 6,717 1,507
Issuance of note receivable (20,385)  
Repayment of note receivable 0 16,423
Leasing commissions (664) (552)
Lease inducements 0 (2,050)
Net cash used in investing activities (106,422) (163,747)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 5,316 301,572
Proceeds from credit facility borrowings 166,000 128,000
Payment on credit facility borrowings (24,000) (529,000)
Proceeds from issuance of senior unsecured notes 0 396,108
Principal payments on mortgage debt (32,157) (5,823)
Debt issuance costs (412) (651)
Dividends paid - shareholders (42,251) (30,945)
Distributions to noncontrolling interest - Operating Partnership (1,232) (703)
Preferred distributions paid - OP Unit holder (81) (480)
Contributions from noncontrolling interest 0 47
Distributions to noncontrolling interest - partially owned properties (127) (154)
Payments of employee taxes for withheld stock based compensation shares (1,701) (2,431)
Purchase of Series A Preferred Units 0 (19,961)
Purchase of OP Units 0 (3,725)
Net cash provided by financing activities 69,355 231,854
Net increase in cash and cash equivalents 3,823 101,993
Cash and cash equivalents, beginning of period 2,727 15,491
Cash and cash equivalents, end of period 6,550 117,484
Supplemental disclosure of cash flow information - interest paid during the period 19,230 10,764
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements 4,298 825
Supplemental disclosure of noncash activity - assumed debt 0 26,379
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions 22,651 44,978
Operating Partnership    
Cash Flows from Operating Activities:    
Net income 11,332 6,716
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 38,576 27,933
Amortization of deferred financing costs 618 549
Amortization of lease inducements and above/below-market lease intangibles 1,190 1,307
Straight-line rental revenue/expense (6,450) (4,508)
Amortization of discount on unsecured senior notes 142 20
Amortization of above market assumed debt (16) (59)
Gain on sale of investment properties (69) 0
Equity in income of unconsolidated entities (28) (28)
Distributions from unconsolidated entities 26 55
Change in fair value of derivative 2 165
Provision for bad debts (141) (127)
Non-cash share compensation 2,605 1,490
Net change in fair value of contingent consideration 0 (70)
Change in operating assets and liabilities:    
Tenant receivables 5,437 2,703
Other assets (222) (287)
Accounts payable (8,461) (1,297)
Accrued expenses and other liabilities (3,651) (676)
Net cash provided by operating activities 40,890 33,886
Cash Flows from Investing Activities:    
Proceeds on sales of investment properties 2,440 0
Acquisition of investment properties, net (84,202) (174,737)
Escrowed cash - acquisition deposits / earnest deposits (2,720) 1,375
Capital expenditures on existing investment properties (5,608) (3,434)
Issuance of real estate loans receivable (2,000) (2,279)
Repayment of real estate loan receivable 6,717 1,507
Issuance of note receivable (20,385) 0
Repayment of note receivable 0 16,423
Leasing commissions (664) (552)
Lease inducements 0 (2,050)
Net cash used in investing activities (106,422) (163,747)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 5,316 301,572
Proceeds from credit facility borrowings 166,000 128,000
Payment on credit facility borrowings (24,000) (529,000)
Proceeds from issuance of senior unsecured notes 0 396,108
Principal payments on mortgage debt (32,157) (5,823)
Debt issuance costs (412) (651)
Dividends paid - shareholders (42,251) (30,945)
Distributions to noncontrolling interest - Operating Partnership (1,232) (703)
Preferred distributions paid - OP Unit holder (81) (480)
Contributions from noncontrolling interest 0 47
Distributions to noncontrolling interest - partially owned properties (127) (154)
Payments of employee taxes for withheld stock based compensation shares (1,701) (2,431)
Purchase of Series A Preferred Units 0 (19,961)
Purchase of OP Units 0 (3,725)
Net cash provided by financing activities 69,355 231,854
Net increase in cash and cash equivalents 3,823 101,993
Cash and cash equivalents, beginning of period 2,727 15,491
Cash and cash equivalents, end of period 6,550 117,484
Supplemental disclosure of cash flow information - interest paid during the period 19,230 10,764
Supplemental disclosure of noncash activity - assumed debt 0 26,379
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions $ 22,651 $ 44,978