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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net income $ 11,500 $ 11,332
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 36,449 38,576
Amortization of deferred financing costs 607 618
Amortization of lease inducements and above/below-market lease intangibles 1,176 1,190
Straight-line rental revenue/expense (4,762) (6,450)
Amortization of discount on unsecured senior notes 148 142
Amortization of above market assumed debt (16) (16)
Gain on sale of investment properties, net 0 (69)
Equity in income of unconsolidated entities (30) (28)
Distributions from unconsolidated entities 29 26
Change in fair value of derivative 13 2
Provision for bad debts 35 (141)
Non-cash share compensation 2,653 2,605
Change in operating assets and liabilities:    
Tenant receivables (2,076) 5,437
Other assets 647 (222)
Accounts payable (373) (8,461)
Accrued expenses and other liabilities (19,573) (3,651)
Net cash provided by operating activities 26,427 40,890
Cash Flows from Investing Activities:    
Proceeds on sales of investment properties 0 2,440
Acquisition of investment properties, net (4,303) (84,202)
Escrowed cash - acquisition deposits/earnest deposits (150) (2,720)
Capital expenditures on investment properties (12,953) (5,608)
Issuance of real estate loans receivable (20,028) (2,000)
Repayment of real estate loans receivable 325 6,717
Issuance of note receivable 0 (20,385)
Leasing commissions (552) (664)
Lease inducements (5) 0
Net cash used in investing activities (37,666) (106,422)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 31,020 5,316
Proceeds from credit facility borrowings 68,000 166,000
Repayment of credit facility borrowings (47,000) (24,000)
Principal payments on mortgage debt (8,908) (32,157)
Debt issuance costs (8) (412)
OP Unit distributions - General Partner (42,301) (42,251)
OP Unit distributions - Limited Partner (1,167) (1,232)
Preferred OP Units distributions - Limited Partner (284) (81)
Distributions to noncontrolling interests - partially owned properties (148) (127)
Payments of employee taxes for withheld stock-based compensation shares (1,973) (1,701)
Purchase of Limited Partner Units (105) 0
Net cash (used in) provided by financing activities (2,874) 69,355
Net (decrease) increase in cash and cash equivalents (14,113) 3,823
Cash and cash equivalents, beginning of period 19,161 2,727
Cash and cash equivalents, end of period 5,048 6,550
Supplemental disclosure of cash flow information - interest paid during the period 25,799 19,230
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements (3,476) 4,298
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions 0 22,651
Operating Partnership    
Cash Flows from Operating Activities:    
Net income 11,500 11,332
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 36,449 38,576
Amortization of deferred financing costs 607 618
Amortization of lease inducements and above/below-market lease intangibles 1,176 1,190
Straight-line rental revenue/expense (4,762) (6,450)
Amortization of discount on unsecured senior notes 148 142
Amortization of above market assumed debt (16) (16)
Gain on sale of investment properties, net 0 (69)
Equity in income of unconsolidated entities (30) (28)
Distributions from unconsolidated entities 29 26
Change in fair value of derivative 13 2
Provision for bad debts 35 (141)
Non-cash share compensation 2,653 2,605
Change in operating assets and liabilities:    
Tenant receivables (2,076) 5,437
Other assets 647 (222)
Accounts payable (373) (8,461)
Accrued expenses and other liabilities (19,573) (3,651)
Net cash provided by operating activities 26,427 40,890
Cash Flows from Investing Activities:    
Proceeds on sales of investment properties 0 2,440
Acquisition of investment properties, net (4,303) (84,202)
Escrowed cash - acquisition deposits/earnest deposits (150) (2,720)
Capital expenditures on investment properties (12,953) (5,608)
Issuance of real estate loans receivable (20,028) (2,000)
Repayment of real estate loans receivable 325 6,717
Issuance of note receivable 0 (20,385)
Leasing commissions (552) (664)
Lease inducements (5) 0
Net cash used in investing activities (37,666) (106,422)
Cash Flows from Financing Activities:    
Net proceeds from sale of common shares 31,020 5,316
Proceeds from credit facility borrowings 68,000 166,000
Repayment of credit facility borrowings (47,000) (24,000)
Principal payments on mortgage debt (8,908) (32,157)
Debt issuance costs (8) (412)
OP Unit distributions - General Partner (42,301) (42,251)
OP Unit distributions - Limited Partner (1,167) (1,232)
Preferred OP Units distributions - Limited Partner (284) (81)
Distributions to noncontrolling interests - partially owned properties (148) (127)
Payments of employee taxes for withheld stock-based compensation shares (1,973) (1,701)
Purchase of Limited Partner Units (105) 0
Net cash (used in) provided by financing activities (2,874) 69,355
Net (decrease) increase in cash and cash equivalents (14,113) 3,823
Cash and cash equivalents, beginning of period 19,161 2,727
Cash and cash equivalents, end of period 5,048 6,550
Supplemental disclosure of cash flow information - interest paid during the period 25,799 19,230
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements (3,476) 4,298
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions $ 0 $ 22,651