XML 17 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ 19 $ (612)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and depletion and other amortization 3,544 683
Amortization of deferred financing fees and discounts/premiums on debt 103 204
Amortization of net origination fees related to notes receivable (5) (4)
Amortization of below market leases   53
Stock based compensation 788 558
Loss on disposition of assets 92  
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 1,785 (1,248)
Increase in interest receivable (10) (49)
Increase in other assets (492) (170)
Decrease (increase) in inventory 306 (142)
Increase in accrued interest 1,541 796
Increase (decrease) in accrued expenses (14,256) 978
Increase in deferred revenue 4,508 3,860
Increase in accrued property taxes 367 56
Net cash (used in) provided by operating activities (1,710) 4,963
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate acquisitions, net of cash acquired (91,675) (105,568)
Real estate and other improvements (11,270) (3,708)
Principal receipts on notes receivable   50
Issuance of notes receivable (3,101)  
Net cash used in investing activities (106,046) (109,226)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from mortgage notes payable and lines of credit 101,790 195,685
Repayments on mortgage notes payable   (84,750)
Proceeds from ATM offering   7,681
Payment of offering costs (274) (52)
Payment of debt issuance costs (659) (887)
Dividends on common stock (6,350) (3,121)
Dividends on preferred stock (2,915)  
Distributions to non-controlling interests in operating partnership (1,580) (1,343)
Net cash provided by financing activities 90,012 113,213
NET (DECREASE) INCREASE IN CASH (17,744) 8,950
CASH, BEGINNING OF PERIOD 47,166 23,514
CASH, END OF PERIOD 29,422 32,464
Cash paid during period for interest 4,712 4,804
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable 4,998  
Additions to real estate improvements included in accrued expenses 1,286 15
Financing fees included in accrued expenses 104 38
Issuance of common stock and equity from non-controlling interests in operating partnership in conjunction with acquisitions 181,510 145,826
Deferred offering costs recorded through equity in the period 104  
Below market lease acquisitions   29
Real estate acquisition costs included in accrued expenses 1 35
Offering costs included in accrued expenses 31  
Common stock    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable 4,186 1,688
Distributions payable 812 811
Redeemable Preferred OP Units    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Distributions payable $ 1,755 $ 1,170