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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 14,607 $ 10,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including a below-market ground lease) 11,582 9,080
Amortization of deferred financing costs 484 561
Amortization of stock-based compensation 904 536
Straight-line rental income (591) (72)
Noncash interest income (106) (155)
Gain on sale of real estate (2,051) 0
Change in operating assets and liabilities:    
Accounts and other receivables, net (155) (1,964)
Prepaid expenses and other assets (36) 13
Accounts payable and accrued liabilities (2,579) 1,886
Net cash provided by operating activities 22,059 20,166
Cash flows from investing activities:    
Acquisitions of real estate (47,103) (54,568)
Improvements to real estate (11) (89)
Purchases of equipment, furniture and fixtures (27) (117)
Principal payments received on mortgage loan receivable 23 0
Escrow deposits for acquisition of real estate (1,000) (700)
Net proceeds from the sale of real estate 13,004 0
Net cash used in investing activities (35,114) (55,474)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net (10) 108,166
Borrowings under unsecured revolving credit facility 60,000 45,000
Payments on unsecured revolving credit facility (25,000) (113,000)
Net-settle adjustment on restricted stock (605) 0
Dividends paid on common stock (14,044) (11,075)
Net cash provided by financing activities 20,341 29,091
Net increase (decrease) in cash and cash equivalents 7,286 (6,217)
Cash and cash equivalents, beginning of period 6,909 7,500
Cash and cash equivalents, end of period 14,195 1,283
Supplemental disclosures of cash flow information:    
Interest paid 2,675 1,513
Supplemental schedule of noncash operating, investing and financing activities:    
Increase in dividends payable 1,564 2,347
Application of escrow deposit to acquisition of real estate $ 0 $ 700