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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 30,156 $ 2,944 $ 1,274
Adjustments to reconcile net income to cash flow from operating activities:      
Depreciation and amortization 28,094 12,520 4,413
Amortization of deferred financing costs and premium on indebtedness, net 389 (660) 83
Stock compensation expense 495 206 77
Net (gains) losses on sale of assets (6,412)    
TSRE financing extinguishment expenses 23,219    
(Gains) losses on TSRE merger and property acquisitions (64,604) (2,882)  
Changes in assets and liabilities:      
Accounts receivable and other assets 5,570 764 (89)
Accounts payable and accrued expenses 3,362 2,670 210
Accrued interest payable 1,060 (14) 31
Other liabilities (2,604) 176 19
Net cash provided by operating activities 18,725 15,724 6,018
Cash flows from investing activities:      
Acquisition of real estate properties (24,746) (299,881) (36,822)
Disposition of real estate properties 17,524    
TSRE merger, net of cash acquired (137,096)    
Capital expenditures (8,941) (4,158) (1,445)
(Increase) decrease in restricted cash (207) (3,298) 28
Cash flow used in investing activities (153,466) (307,337) (38,239)
Cash flows from financing activities:      
(Payments related to) proceeds from issuance of common stock (188) 189,587 31,153
TSRE financing extinguishment expenses (23,219)    
Proceeds from Secured Credit Facility and mortgage indebtedness 488,725 154,650 10,940
Secured Credit Facility and mortgage principal repayments (272,751) (26,001) (222)
Redemption of preferred shares     (137)
Payments for deferred financing costs (7,998) (89) (418)
Distributions on preferred stock     (10)
Distributions on common stock (25,103) (14,978) (2,979)
Distributions to noncontrolling interests (1,187) (127) (1,805)
Net cash from financing activities 158,279 303,042 33,022
Net change in cash and cash equivalents 23,538 11,429 801
Cash and cash equivalents, beginning of period 14,763 3,334 2,533
Cash and cash equivalents, end of the period 38,301 14,763 3,334
Supplemental cash flow information:      
Cash paid for interest 22,105 9,170 3,545
Non-cash decrease in noncontrolling interest from conversion of common limited partnership units to shares of common stock 493   43,585
Value of common stock issued 109,857    
Value of limited partnership units issued in acquisitions 13,998 11,961  
Mortgage debt assumed $ 121,885 $ 66,963  
Series B Preferred Units      
Cash flows from financing activities:      
Redemption of preferred shares     $ (3,500)