XML 19 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 30,744 $ 112
Adjustments to reconcile net income (loss) to cash flow from operating activities:    
Depreciation and amortization 19,162 11,758
Amortization of deferred financing costs and premium on indebtedness, net 1,639 (315)
Stock compensation expense 585 80
Net (gains) losses on sale of assets (31,774)  
(Gains) losses on extinguishment of debt 558  
(Gains) losses on TSRE merger and property acquisitions (91)  
Changes in assets and liabilities:    
Accounts receivable and other assets (297) (332)
Accounts payable and accrued expenses (1,261) 2,081
Accrued interest payable (505) (19)
Other liabilities 87 (49)
Net cash provided by operating activities 18,847 13,316
Cash flows from investing activities:    
Disposition of real estate properties 39,691  
Acquisition of real estate properties   (24,746)
TSRE merger, net of cash acquired (91)  
Capital expenditures (5,429) (3,088)
(Increase) in restricted cash (1,366) (1,129)
Cash flow provided by (used in) investing activities 32,987 (28,963)
Cash flows from financing activities:    
(Payments related to) proceeds from issuance of common stock (137) (197)
Proceeds from Secured Credit Facility and mortgage indebtedness 199,481 58,275
Secured Credit Facility and mortgage principal repayments (241,895) (19,362)
Payments for deferred financing costs (1,449) (365)
Financing commitment fee   (4,000)
Distributions on common stock (16,998) (11,441)
Distributions to noncontrolling interests (1,086) (458)
Cash flow used in financing activities (62,084) 22,452
Net change in cash and cash equivalents (10,250) 6,805
Cash and cash equivalents, beginning of period 38,301 14,763
Cash and cash equivalents, end of the period 28,051 21,568
Supplemental cash flow information:    
Cash paid for interest 17,894 $ 8,615
Non-cash decrease in noncontrolling interest from conversion of common limited partnership units to share of common stock $ 1,901