XML 19 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income $ (46) $ (241)
Adjustments to reconcile net income (loss) to cash flow from operating activities:    
Depreciation and amortization 11,527 6,038
Amortization of deferred financing costs and premium on indebtedness, net 890 (159)
Stock compensation expense 205 70
Net (gains) losses on sale of assets (2,453)  
(Gains) losses on TSRE merger and property acquisitions (91)  
Changes in assets and liabilities:    
Accounts receivable and other assets 597 452
Accounts payable and accrued expenses (3,192) 2,338
Accrued interest payable (64) (18)
Other liabilities 84 23
Net cash provided by operating activities 7,457 8,503
Cash flows from investing activities:    
Disposition of real estate properties 9,684  
TSRE merger 91  
Capital expenditures (2,273) (993)
(Decrease) in restricted cash (1,602) (1,022)
Cash flow provided by (used in) investing activities 5,900 (2,015)
Cash flows from financing activities:    
(Payments related to) proceeds from issuance of common stock (137) (58)
Proceeds from Secured Credit Facility and mortgage indebtedness 53,477 22,900
Secured Credit Facility and mortgage principal repayments (73,826) (18,882)
Payments for deferred financing costs (187) (177)
Distributions on common stock (8,506) (5,719)
Distributions to noncontrolling interests (555) (231)
Cash flow used in financing activities (29,734) (2,167)
Net change in cash and cash equivalents (16,377) 4,321
Cash and cash equivalents, beginning of period 38,301 14,763
Cash and cash equivalents, end of the period 21,924 19,084
Supplemental cash flow information:    
Cash paid for interest 9,151 $ 4,199
Non-cash decrease in noncontrolling interest from conversion of common limited partnership units to share of common stock $ 1,901