XML 52 R7.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) $ 22,637 $ (5,863)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51,973 53,858
Amortization of deferred financing costs and loan premium, net 635 421
Amortization of stock-based compensation 5,047 4,974
Straight-line rent receivables (9,830) (7,632)
Amortization of above-market leases 1,543 1,999
Amortization of below-market leases (5,821) (6,343)
Amortization of lease incentive costs 246 37
Bad debt expense (326) 176
Amortization of ground lease 186 185
(Gain) / Loss from Sale of Real Estate (5,538) 0
Impairment loss 0 5,580
Change in operating assets and liabilities:    
Restricted cash (2,900) (122)
Accounts receivable (4,925) 344
Deferred leasing costs and lease intangibles (11,509) (13,440)
Prepaid expenses and other assets (3,532) (1,764)
Accounts payable and accrued liabilities 16,394 16,774
Security deposits 389 (439)
Prepaid rent 3,677 (4,813)
Net cash provided by operating activities 58,346 43,932
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (79,154) (53,576)
Property acquisitions (75,580) (389,883)
Acquisition of notes receivable (28,112) 0
Proceeds from sale of real estate 18,629 52,994
Deposits for property acquisitions (2,500) 0
Net cash used in investing activities (166,717) (390,465)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 332,886 369,361
Payments of notes payable (341,636) (167,255)
Proceeds from issuance of common stock 197,468 189,888
Common stock issuance transaction costs (674) (392)
Dividends paid to common stock and unit holders (26,034) (22,161)
Dividends paid to preferred stock and unit holders (9,590) (9,693)
Redemption of 6.25% series A cumulative redeemable preferred units (298) 0
Distribution to non-controlling member in consolidated real estate entity (2,385) (425)
Repurchase of vested restricted stock 0 (650)
Payment of loan costs (2,325) (1,703)
Net cash provided by financing activities 147,412 356,970
Net increase in cash and cash equivalents 39,041 10,437
Cash and cash equivalents—beginning of period 30,356 18,904
Cash and cash equivalents—end of period 69,397 29,341
SUPPLEMENTAL CASH FLOWS INFORMATION:    
Cash paid for interest, net of amounts capitalized 23,824 19,589
NON-CASH INVESTING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property 8,906 6,204
Assumption of secured debt in connection with property acquisitions (Notes 3 and 5) 0 102,299
Non-controlling interest in consolidated real estate entity (Note 3) 0 45,704
Assumption of other (assets) and liabilities in connection with property acquisitions, net (Note 3) $ (449) $ (2,423)