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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 2,630 $ (513)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and depletion and other amortization 5,651 1,102
Amortization of deferred financing fees and discounts/premiums on debt 162 219
Amortization of net origination fees related to notes receivable (11) (3)
Amortization of below market leases   (63)
Stock based compensation 1,091 889
Loss on disposition of assets 48  
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable 2,739 (1,427)
Increase in interest receivable (227) (106)
Increase in other assets (433) (303)
Decrease (increase) in inventory 289 (129)
Increase in accrued interest 1,348 945
(Decrease) increase in accrued expenses (14,358) 1,984
(Decrease) increase in deferred revenue (2,028) 900
(Decrease) increase in accrued property taxes (302) 119
Net cash (used in) provided by operating activities (3,401) 3,614
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate acquisitions, net of cash acquired (92,680) (122,388)
Real estate and other improvements (17,650) (5,011)
Principal receipts on notes receivable   50
Issuance of notes receivable (3,870)  
Net cash used in investing activities (114,200) (127,349)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from mortgage notes payable and lines of credit 101,790 200,787
Repayments on mortgage notes payable (20,819) (84,750)
Proceeds from ATM offering   9,338
Proceeds from issuance of Series B Participating Preferred Stock 144,523  
Common stock repurchased (7,446)  
Payment of offering costs (572) (64)
Payment of debt issuance costs (817) (937)
Dividends on common stock (10,535) (4,809)
Distributions on Series A preferred units (2,915)  
Dividends on Series B Participating Preferred Stock (1,082)  
Distributions to non-controlling interests in operating partnership (2,394) (2,155)
Net cash provided by financing activities 199,733 117,410
NET INCREASE (DECREASE) IN CASH 82,132 (6,325)
CASH, BEGINNING OF PERIOD 47,166 23,514
CASH, END OF PERIOD 129,298 17,189
Cash paid during period for interest 8,491 6,706
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Transfer of deferred offering costs to equity 419 104
Dividend payable 4,882  
Additions to real estate improvements included in accrued expenses 1,155 134
Financing fees included in accrued expenses 25  
Issuance of common stock and equity from non-controlling interests in operating partnership in conjunction with acquisitions 181,510 145,826
Below market lease acquisitions   29
Property tax liability assumed in acquisitions   79
Deferred offering costs included in accrued expenses   24
Common stock    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable 4,152 1,791
Distributions payable 730 724
Redeemable Preferred OP Units    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Distributions payable $ 2,633 $ 2,057