XML 33 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income (loss) $ 2,749 $ 966
Adjustments to reconcile net income (loss) to cash flow from operating activities:    
Depreciation and amortization 8,664 3,107
Amortization of deferred financing costs and debt premiums (478) 54
Share based compensation 175  
(Gain) loss on assets (2,882)  
Changes in assets and liabilities:    
Accounts receivable and other assets (78) (632)
Accounts payable and accrued expenses 2,415 218
Accrued interest payable (33) 0
Other liabilities (35) 13
Net cash from operating activities 10,497 3,726
Cash flows from investing activities:    
Acquisition of real estate properties (178,158) (13,020)
Capital expenditures (2,522) (1,130)
(Increase) decrease in restricted cash (3,427) 74
Net cash from investing activities (184,107) (14,076)
Cash flows from financing activities:    
Debt borrowings 100,917  
Debt repayments (20,618) (129)
Proceeds from issuance of common stock 134,881 31,461
(Payments) reimbursements for deferred financing costs (75) (102)
Redemption of preferred shares   (137)
Redemption of noncontrolling interests   (3,500)
Distributions on common stock (9,981) (1,435)
Distributions on preferred stock   (10)
Distributions to noncontrolling interests (62) (1,805)
Net cash from financing activities 205,062 24,343
Net change in cash and cash equivalents 31,452 13,993
Cash and cash equivalents, beginning of period 3,334 2,533
Cash and cash equivalents, end of the period 34,786 16,526
Supplemental cash flow information:    
Cash paid for interest 6,022 2,641
Non cash decrease in noncontrolling interest from conversion of common limited partnership units to share of common stock   43,585
Mortgage debt assumed $ 66,963