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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Real estate investments:    
Land $ 106,841 $ 80,024
Buildings and improvements 1,091,845 869,814
Accumulated depreciation and amortization (251,265) (223,315)
Real property investments, net 947,421 726,523
Mortgage loans receivable, net of loan loss reserve: 2015—$2,190; 2014—$1,673 217,529 165,656
Real estate investments, net 1,164,950 892,179
Investment in unconsolidated joint ventures 24,042  
Investments, net 1,188,992 892,179
Other assets:    
Cash and cash equivalents 12,942 25,237
Debt issue costs, net 2,865 2,733
Interest receivable 4,536 597
Straight-line rent receivable, net of allowance for doubtful accounts: 2015—$833; 2014—$731 42,685 32,651
Prepaid expenses and other assets 21,443 9,931
Notes receivable 1,961 1,442
Total assets 1,275,424 964,770
LIABILITIES    
Bank borrowings 120,500  
Senior unsecured notes, net of debt issue costs: 2015—$1,095; 2014—$1,049 451,372 280,584
Accrued interest 3,974 3,556
Accrued incentives and earn-outs 12,722 3,258
Accrued expenses and other liabilities 27,654 17,251
Total liabilities 616,222 304,649
Stockholders' equity:    
Preferred stock $0.01 par value; 15,000 shares authorized; shares issued and outstanding: 2015—0; 2014—2,000   38,500
Common stock: $0.01 par value; 60,000 shares authorized; shares issued and outstanding: 2015—37,548; 2014—35,480 375 355
Capital in excess of par value 758,676 717,396
Cumulative net income 928,328 855,247
Accumulated other comprehensive income 47 82
Cumulative distributions (1,028,224) (951,459)
Total equity 659,202 660,121
Total liabilities and equity $ 1,275,424 $ 964,770