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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ (9,555) $ 30,156 $ 2,944
Adjustments to reconcile net income to cash flow from operating activities:      
Depreciation and amortization 34,824 28,094 12,520
Amortization of deferred financing costs and premium on indebtedness, net 2,757 389 (660)
Stock compensation expense 1,222 495 206
Net (gains) losses on sale of assets (31,776) (6,412)  
Net (gains) losses on extinguishment of debt 1,210    
TSRE financing extinguishment expenses   23,219  
(Gains) losses on TSRE merger and property acquisitions (732) (64,604) (2,882)
Changes in assets and liabilities:      
Accounts receivable and other assets (477) 5,570 764
Accounts payable and accrued expenses (4,328) 3,362 2,670
Accrued interest payable (715) 1,060 (14)
Other liabilities 37 (2,604) 176
Net cash provided by operating activities (7,533) 18,725 15,724
Cash flows from investing activities:      
Acquisition of real estate properties   (24,746) (299,881)
Disposition of real estate properties 39,690 17,524  
Acquisition of advisory and management contracts (143)    
TSRE merger, net of cash acquired   (137,096)  
Capital expenditures (10,663) (8,941) (4,158)
Deposit paid for future acquisition (1,000)    
(Increase) decrease in restricted cash (105) (207) (3,298)
Cash flow used in investing activities 27,779 (153,466) (307,337)
Cash flows from financing activities:      
Proceeds (payments) from issuance of common stock 245,309 (188) 189,587
Payments related to repurchase of common stock (62,156)    
TSRE financing extinguishment expenses   (23,219)  
Proceeds from Secured Credit Facility and mortgage indebtedness 209,481 488,725 154,650
Secured Credit Facility and mortgage principal repayments (390,089) (272,751) (26,001)
Payments for deferred financing costs (1,485) (7,998) (89)
Distributions on common stock (36,575) (25,103) (14,978)
Distributions to noncontrolling interests (2,140) (1,187) (127)
Net cash from financing activities (37,655) 158,279 303,042
Net change in cash and cash equivalents (17,409) 23,538 11,429
Cash and cash equivalents, beginning of period 38,301 14,763 3,334
Cash and cash equivalents, end of the period 20,892 38,301 14,763
Supplemental cash flow information:      
Cash paid for interest 33,034 22,105 9,170
Non-cash decrease in noncontrolling interest from conversion of common limited partnership units to shares of common stock 2,290 493  
Distributions declared but not paid $ 4,297 3,006 1,982
Value of common stock issued   109,857  
Value of limited partnership units issued in acquisitions   13,998 11,961
Mortgage debt assumed   $ 121,885 $ 66,963