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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Adjustments to reconcile net income to net cash provided by operating activities      
Net income (loss) $ 58,321,000 $ 39,773,000 $ 31,522,000
Depreciation and amortization 158,389,000 125,159,000 86,589,000
Amortization of deferred financing costs 2,428,000 2,299,000 2,325,000
Amortization of lease inducements and above/below-market lease intangibles 4,659,000 5,083,000 3,906,000
Straight-line rental revenue/expense (21,860,000) (16,202,000) (16,226,000)
Amortization of discount on unsecured senior notes 577,000 277,000 0
Amortization of above market assumed debt (62,000) (178,000) (236,000)
Gain on sale of investment properties, net (11,664,000) (5,874,000) 0
Equity in income of unconsolidated entities (114,000) (183,000) (115,000)
Distributions from unconsolidated entities 112,000 210,000 82,000
Change in fair value of derivatives (6,000) 150,000 (240,000)
Provision for bad debts 304,000 123,000 2,310,000
Non-cash share compensation 8,681,000 6,695,000 5,672,000
Net change in fair value of contingent consideration (50,000) (472,000) (840,000)
Impairment on investment properties 0 965,000 0
Change in operating assets and liabilities:      
Tenant receivables 230,000 (2,988,000) (10,058,000)
Other assets (852,000) (533,000) (19,230,000)
Accounts payable (7,137,000) 6,600,000 3,779,000
Accrued expenses and other liabilities 16,738,000 19,567,000 37,957,000
Net cash provided by operating activities 208,694,000 180,471,000 127,197,000
Cash Flows from Investing Activities:      
Proceeds on sale of investment properties 217,222,000 20,397,000 0
Acquisition of investment properties, net (243,001,000) (1,268,442,000) (1,240,438,000)
Acquisition of noncontrolling interests 0 (8,469,000) (4,690,000)
Escrowed cash - acquisition deposits/earnest deposits 2,780,000 (1,280,000) (1,157,000)
Capital expenditures on existing investment properties (34,638,000) (23,243,000) (11,304,000)
Pay down of contingent consideration 0 (156,000) (483,000)
Issuances of real estate loans receivable (11,750,000) (39,063,000) (10,207,000)
Repayments of real estate loan receivable 15,928,000 4,711,000 11,336,000
Issuances of note receivable (20,385,000) 0 0
Repayments of note receivable 0 16,423,000 4,118,000
Leasing commissions (3,167,000) (1,449,000) (1,034,000)
Lease inducements (172,000) (2,067,000) (8,957,000)
Net cash used in investing activities (77,183,000) (1,302,638,000) (1,262,816,000)
Cash Flows from Financing Activities:      
Net proceeds from sale of common shares 10,759,000 844,669,000 766,841,000
Proceeds from credit facility borrowings 422,000,000 927,000,000 1,181,000,000
Repayments on credit facility borrowings (287,000,000) (1,248,000,000) (925,000,000)
Proceeds from issuance of senior unsecured notes 0 743,060,000 225,000,000
Proceeds from issuance of mortgage debt 0 61,000,000 39,500,000
Principal payments on mortgage debt (78,018,000) (41,503,000) (10,232,000)
Debt issuance costs (4,540,000) (1,589,000) (4,816,000)
Dividends paid - shareholders (168,060,000) (143,108,000) (104,908,000)
Distributions to noncontrolling interest - Operating Partnership (4,808,000) (4,388,000) (3,162,000)
Preferred distributions paid - OP Unit holders (911,000) (600,000) (1,508,000)
Contributions to noncontrolling interests 0 47,000 0
Distributions to noncontrolling interests - partially owned properties (547,000) (748,000) (543,000)
Payments of employee taxes for withheld stock-based compensation shares (1,749,000) (2,590,000) (778,000)
Purchases of Series A Preferred Units 0 (19,961,000) (9,756,000)
Purchases of OP Units (2,203,000) (3,886,000) (3,671,000)
Net cash (used in) provided by financing activities (115,077,000) 1,109,403,000 1,147,967,000
Net increase (decrease) in cash and cash equivalents 16,434,000 (12,764,000) 12,348,000
Cash and cash equivalents, beginning of period 2,727,000 15,491,000 3,143,000
Cash and cash equivalents, end of period 19,161,000 2,727,000 15,491,000
Supplemental cash flow information:      
Supplemental disclosure of cash flow information - interest paid during the year 58,705,000 38,781,000 17,151,000
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements and redeemable equity - property 481,000 244,000 13,708,000
Supplemental disclosure of noncash activity - assumed debt 0 43,989,000 0
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions 22,651,000 44,978,000 6,769,000
Supplemental disclosure of noncash activity - contingent consideration 0 765,000 156,000
Operating Partnership      
Adjustments to reconcile net income to net cash provided by operating activities      
Net income (loss) 58,321,000 39,773,000 31,522,000
Depreciation and amortization 158,389,000 125,159,000 86,589,000
Amortization of deferred financing costs 2,428,000 2,299,000 2,325,000
Amortization of lease inducements and above/below-market lease intangibles 4,659,000 5,083,000 3,906,000
Straight-line rental revenue/expense (21,860,000) (16,202,000) (16,226,000)
Amortization of discount on unsecured senior notes 577,000 277,000 0
Amortization of above market assumed debt (62,000) (178,000) (236,000)
Gain on sale of investment properties, net (11,664,000) (5,874,000) 0
Equity in income of unconsolidated entities (114,000) (183,000) (115,000)
Distributions from unconsolidated entities 112,000 210,000 82,000
Change in fair value of derivatives (6,000) 150,000 (240,000)
Provision for bad debts 304,000 123,000 2,310,000
Non-cash share compensation 8,681,000 6,695,000 5,672,000
Net change in fair value of contingent consideration (50,000) (472,000) (840,000)
Impairment on investment properties 0 965,000 0
Change in operating assets and liabilities:      
Tenant receivables 230,000 (2,988,000) (10,058,000)
Other assets (852,000) (533,000) (19,230,000)
Accounts payable (7,137,000) 6,600,000 3,779,000
Accrued expenses and other liabilities 16,738,000 19,567,000 37,957,000
Net cash provided by operating activities 208,694,000 180,471,000 127,197,000
Cash Flows from Investing Activities:      
Proceeds on sale of investment properties 217,222,000 20,397,000 0
Acquisition of investment properties, net (243,001,000) (1,268,442,000) (1,240,438,000)
Acquisition of noncontrolling interests 0 (8,469,000) (4,690,000)
Escrowed cash - acquisition deposits/earnest deposits 2,780,000 (1,280,000) (1,157,000)
Capital expenditures on existing investment properties (34,638,000) (23,243,000) (11,304,000)
Pay down of contingent consideration 0 (156,000) (483,000)
Issuances of real estate loans receivable (11,750,000) (39,063,000) (10,207,000)
Repayments of real estate loan receivable 15,928,000 4,711,000 11,336,000
Issuances of note receivable (20,385,000) 0 0
Repayments of note receivable 0 16,423,000 4,118,000
Leasing commissions (3,167,000) (1,449,000) (1,034,000)
Lease inducements (172,000) (2,067,000) (8,957,000)
Net cash used in investing activities (77,183,000) (1,302,638,000) (1,262,816,000)
Cash Flows from Financing Activities:      
Net proceeds from sale of common shares 10,759,000 844,669,000 766,841,000
Proceeds from credit facility borrowings 422,000,000 927,000,000 1,181,000,000
Repayments on credit facility borrowings (287,000,000) (1,248,000,000) (925,000,000)
Proceeds from issuance of senior unsecured notes 0 743,060,000 225,000,000
Proceeds from issuance of mortgage debt 0 61,000,000 39,500,000
Principal payments on mortgage debt (78,018,000) (41,503,000) (10,232,000)
Debt issuance costs (4,540,000) (1,589,000) (4,816,000)
Dividends paid - shareholders (168,060,000) (143,108,000) (104,908,000)
Distributions to noncontrolling interest - Operating Partnership (4,808,000) (4,388,000) (3,162,000)
Preferred distributions paid - OP Unit holders (911,000) (600,000) (1,508,000)
Contributions to noncontrolling interests 0 47,000 0
Distributions to noncontrolling interests - partially owned properties (547,000) (748,000) (543,000)
Payments of employee taxes for withheld stock-based compensation shares (1,749,000) (2,590,000) (778,000)
Purchases of Series A Preferred Units 0 (19,961,000) (9,756,000)
Purchases of OP Units (2,203,000) (3,886,000) (3,671,000)
Net cash (used in) provided by financing activities (115,077,000) 1,109,403,000 1,147,967,000
Net increase (decrease) in cash and cash equivalents 16,434,000 (12,764,000) 12,348,000
Cash and cash equivalents, beginning of period 2,727,000 15,491,000 3,143,000
Cash and cash equivalents, end of period 19,161,000 2,727,000 15,491,000
Supplemental cash flow information:      
Supplemental disclosure of cash flow information - interest paid during the year 58,705,000 38,781,000 17,151,000
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements and redeemable equity - property 481,000 244,000 13,708,000
Supplemental disclosure of noncash activity - assumed debt 0 43,989,000 0
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions 22,651,000 44,978,000 6,769,000
Supplemental disclosure of noncash activity - contingent consideration $ 0 $ 765,000 $ 156,000