v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 29,738 $ 11,057
Adjustments to reconcile net income including non-controlling interest to net cash provided by operating activities:    
Depreciation and amortization including intangibles associated with investment in rental property 29,714 20,886
Amortization of debt issuance costs charged to interest expense 787 728
Straight-line rent and financing lease adjustments (8,068) (6,003)
Cost of debt extinguishment 3,615 53
(Gain) on sale of real estate (6,280) (1,106)
Non-cash interest (1,349) 5,210
Repayment of interest rate swap, liability (1,965) 0
Other non-cash items 237 227
Leasing fees paid (1,796) (2,005)
Changes in assets and liabilities:    
Tenant and other receivables (18) 299
Prepaid expenses and other assets (941) (483)
Accounts payable and other liabilities 797 317
Accrued interest payable 837 136
Net cash provided by operating activities 45,308 29,316
Investing activities    
Acquisition of rental property accounted for using the operating method (185,179) (232,218)
Acquisition of rental property accounted for using the direct financing method (3,546) (544)
Capital expenditures and improvements (3,871) (7,319)
Proceeds from disposition of rental property, net 28,929 3,463
Increase in tenant and capital reserves (81) (94)
Increase in restricted cash (6,551) (70)
Net cash used in investing activities (170,299) (236,782)
Financing activities    
Proceeds from issuance of common stock, net 161,435 121,236
Redemptions of common stock (3,016) (3,059)
Borrowings on unsecured term notes 400,000 0
Principal payments on mortgages and notes payable and unsecured term notes (374,023) (8,385)
Borrowings on unsecured revolver 175,000 144,000
Repayments on unsecured revolver (187,000) (36,000)
Cash distributions paid to stockholders (21,091) (16,757)
Cash distributions paid to non-controlling interests (3,727) (3,548)
Debt issuance and extinguishment costs paid (8,470) (61)
Net cash provided by financing activities 139,108 197,426
Net increase in cash and cash equivalents 14,117 (10,040)
Cash and cash equivalents at beginning of period 21,635 27,050
Cash and cash equivalents at end of period $ 35,752 $ 17,010