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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:    
Net income $ 47,165 $ 29,586
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 119,024 89,031
Amortization of deferred financing costs 1,808 1,731
Amortization of lease inducements and above/below-market lease intangibles 3,518 3,780
Straight-line rental revenue/expense (17,270) (11,168)
Amortization of discount on unsecured senior notes 430 177
Amortization of above market assumed debt (47) (163)
Gain on sale of investment properties, net (11,664) (5,308)
Equity in income of unconsolidated entities (85) (85)
Distributions from unconsolidated entities 86 112
Change in fair value of derivative (17) 160
Provision for bad debts 82 (297)
Non-cash share compensation 6,675 4,976
Net change in fair value of contingent consideration (50) 4
Change in operating assets and liabilities:    
Tenant receivables 3,891 (754)
Other assets (2,799) (541)
Accounts payable (7,199) 2,167
Accrued expenses and other liabilities 1,916 14,834
Net cash provided by operating activities 145,464 128,242
Cash Flows from Investing Activities:    
Proceeds on sales of investment properties 217,222 18,150
Acquisition of investment properties, net (242,827) (916,270)
Escrowed cash - acquisition deposits/earnest deposits 2,780 (25,271)
Capital expenditures on investment properties (26,358) (14,819)
Issuance of real estate loans receivable (2,000) (38,844)
Repayment of real estate loans receivable 13,582 1,507
Issuance of note receivable (20,385) 0
Repayment of note receivable 0 16,423
Leasing commissions (2,561) (1,184)
Lease inducements (73) (2,508)
Net cash used in investing activities (60,620) (962,816)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 8,054 804,453
Proceeds from credit facility borrowings 345,000 627,000
Repayment of credit facility borrowings (246,000) (889,000)
Proceeds from issuance of mortgage debt 0 61,000
Proceeds from issuance of senior unsecured notes 0 396,108
Principal payments on mortgage debt (51,840) (40,999)
Debt issuance costs (4,267) (1,129)
OP Unit distributions - General Partner (126,088) (101,846)
OP Unit distributions - Limited Partner (3,640) (3,154)
Preferred OP Units distributions - Limited Partner (627) (519)
Contributions from noncontrolling interest 0 47
Distributions to noncontrolling interests - partially owned properties (396) (1,653)
Payments of employee taxes for withheld stock-based compensation shares (1,749) (2,583)
Purchase of Series A Preferred Units 0 (19,961)
Purchase of Limited Partner Units (1,555) (3,757)
Net cash (used in) provided by financing activities (83,108) 824,007
Net increase (decrease) in cash and cash equivalents 1,736 (10,567)
Cash and cash equivalents, beginning of period 2,727 15,491
Cash and cash equivalents, end of period 4,463 4,924
Supplemental disclosure of cash flow information - interest paid during the period 53,370 33,307
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements 6,533 (1,696)
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 47,165 29,586
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 119,024 89,031
Amortization of deferred financing costs 1,808 1,731
Amortization of lease inducements and above/below-market lease intangibles 3,518 3,780
Straight-line rental revenue/expense (17,270) (11,168)
Amortization of discount on unsecured senior notes 430 177
Amortization of above market assumed debt (47) (163)
Gain on sale of investment properties, net (11,664) (5,308)
Equity in income of unconsolidated entities (85) (85)
Distributions from unconsolidated entities 86 112
Change in fair value of derivative (17) 160
Provision for bad debts 82 (297)
Non-cash share compensation 6,675 4,976
Net change in fair value of contingent consideration (50) 4
Change in operating assets and liabilities:    
Tenant receivables 3,891 (754)
Other assets (2,799) (541)
Accounts payable (7,199) 2,167
Accrued expenses and other liabilities 1,916 14,834
Net cash provided by operating activities 145,464 128,242
Cash Flows from Investing Activities:    
Proceeds on sales of investment properties 217,222 18,150
Acquisition of investment properties, net (242,827) (916,270)
Escrowed cash - acquisition deposits/earnest deposits 2,780 (25,271)
Capital expenditures on investment properties (26,358) (14,819)
Issuance of real estate loans receivable (2,000) (38,844)
Repayment of real estate loans receivable 13,582 1,507
Issuance of note receivable (20,385) 0
Repayment of note receivable 0 16,423
Leasing commissions (2,561) (1,184)
Lease inducements (73) (2,508)
Net cash used in investing activities (60,620) (962,816)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 8,054 804,453
Proceeds from credit facility borrowings 345,000 627,000
Repayment of credit facility borrowings (246,000) (889,000)
Proceeds from issuance of mortgage debt 0 61,000
Proceeds from issuance of senior unsecured notes 0 396,108
Principal payments on mortgage debt (51,840) (40,999)
Debt issuance costs (4,267) (1,129)
OP Unit distributions - General Partner (126,088) (101,846)
OP Unit distributions - Limited Partner (3,640) (3,154)
Preferred OP Units distributions - Limited Partner (627) (519)
Contributions from noncontrolling interest 0 47
Distributions to noncontrolling interests - partially owned properties (396) (1,653)
Payments of employee taxes for withheld stock-based compensation shares (1,749) (2,583)
Purchase of Series A Preferred Units 0 (19,961)
Purchase of Limited Partner Units (1,555) (3,757)
Net cash (used in) provided by financing activities (83,108) 824,007
Net increase (decrease) in cash and cash equivalents 1,736 (10,567)
Cash and cash equivalents, beginning of period 2,727 15,491
Cash and cash equivalents, end of period 4,463 4,924
Supplemental disclosure of cash flow information - interest paid during the period 53,370 33,307
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements 6,533 (1,696)
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