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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities:      
Net income $ 37,044 $ 22,038 $ 146,133
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of building and building improvements 80,394 60,120 55,982
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs 73,031 59,048 60,601
Amortization of (below) above market leases (3,201) (685) 1,689
Amortization of deferred financing costs and debt premium 5,562 3,071 2,444
Amortization of swap interest 126 126 0
Deferred rent (19,519) (8,571) (11,372)
Deferred rent, ground lease 1,640   0
Termination fee revenue - receivable from tenant, net (6,000) (3,114) (12,845)
Gain from sale of depreciable operating property (29,940) (1,231) (116,382)
(Gain) loss on fair value of earn-out (1,461) 0 0
Unrealized loss on interest rate swap 0 2 68
(Gain) loss from investment in unconsolidated entities 5,307 2,254 2,065
(Gain) loss from investments 307 0 0
Impairment provision 30,734 0 8,460
Performance distribution allocation (non-cash) (2,604) 0 0
Stock-based compensation 2,623 38 173
Change in operating assets and liabilities:      
Deferred leasing costs and other assets (7,775) (13,503) 3,332
Restricted reserves 14 57 (175)
Accrued expenses and other liabilities (9,505) 3,463 1,098
Due to affiliates, net 4,072 (2,254) 826
Net cash provided by operating activities 160,849 120,859 142,097
Investing Activities:      
Cash acquired in connection with the Mergers, net of acquisition costs 25,320 0 0
Acquisition of properties, net (38,775) (182,250) (134,130)
Proceeds from disposition of properties 139,446 11,442 394,502
Real estate acquisition deposits (1,047) (3,350) (1,350)
Reserves for tenant improvements 1,039 (357) 0
Improvements to real estate 0 0 (760)
Payments for construction in progress (46,346) (24,398) (11,293)
Investment in unconsolidated joint venture 0 (3,274) 0
Distributions of capital from investment in unconsolidated entities 14,603 7,691 7,599
Distributions of capital from investment in unconsolidated entities (8,422) 0 0
Net cash provided by (used in) investing activities 85,818 (194,496) 254,568
Financing Activities:      
Proceeds from borrowings - BOA Loan 0 0 375,000
Proceeds from borrowings - Term Loan 627,000 0 0
Proceeds from borrowings - Revolver Loan 315,854 0 0
Proceeds from borrowings - Revolver Loan - EA-1 0 96,100 54,000
Principal payoff of secured indebtedness - Revolver Loan (104,439) 0 0
Principal payoff of secured indebtedness - Mortgage Debt 0 (18,954) (41,493)
Principal payoff of secured indebtedness - Unsecured Credit Facility - EA-1 (715,000) (106,253) (441,256)
Partial principal payoff of TW Telecom loan 0 0 (324)
Principal amortization payments on secured indebtedness (6,577) (6,494) (6,491)
Deferred financing costs (5,737) (24) (3,329)
Offering costs (2,384) 0 0
Issuance of perpetual convertible preferred shares 0 125,000 0
Repurchase of common stock (200,013) (83,574) (98,906)
Repurchase of noncontrolling interest (53) 0 0
Issuance of common stock, net of discounts and underwriting costs 8,826 0 0
Payment of offering costs - preferred shares 0 (4,959) 0
Dividends paid on preferred units subject to redemption (8,188) (1,228) 0
Distributions to noncontrolling interests (16,865) (4,737) (4,737)
Distributions to common stockholders (90,116) (71,822) (71,124)
Net cash used in financing activities (197,692) (76,945) (238,660)
Net increase (decrease) in cash, cash equivalents and restricted cash 48,975 (150,582) 158,005
Cash, cash equivalents and restricted cash at the beginning of the period 64,285 214,867 56,862
Cash, cash equivalents and restricted cash at the end of the period 113,260 64,285 214,867
Supplemental disclosure of cash flow information:      
Cash paid for interest 65,040 50,736 48,253
Supplemental disclosures of non-cash investing and financing transactions:      
Goodwill -Self Administration Transaction 0 229,948 0
Affiliates - receivables and other related party assets acquired in Self Administration Transaction 0 19,878 0
Increase in distributions payable to common stockholders 3,293 3,792 32
Increase in distributions payable to noncontrolling interests 1,355 0 0
Common stock issued pursuant to the distribution reinvestment plan 41,060 40,838 49,541
Increase in redemptions payable 96,648 0 20,382
Issuance of stock dividends 14,139 0 0
Limited partnership units issued in exchange for net assets acquired in Self Administration Transaction 25,000 205,000 0
Due to affiliates- Self Administration Transaction 0 41,114 0
Other liabilities assumed in Self Administration Transaction 0 7,951 0
Decrease in fair value swap agreement (22,303) (5,427) (6,795)
Net assets acquired in Merger in exchange for common shares 751,277 0 0
Implied EA-1 common stock and operating partnership units issued in exchange for net assets acquired in Merger 751,277 0 0
Operating lease right-of-use assets obtained in exchange for lease liabilities upon adoption of ASC 842 16,919    
Distributions to redeemable noncontrolling interests attributable to common stockholders as reflected on the consolidated statements of operations $ 0 $ 355 $ 356