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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
OPERATING ACTIVITIES      
Net income $ 22,594 $ 51,601 $ 19,324
Results from discontinued operations 0 (37,652) (5,653)
Income from continuing operations 22,594 13,949 13,671
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Deferred rent revenue and amortization of lease intangibles (4,997) (6,967) (3,735)
Depreciation and amortization 66,775 61,853 55,936
Amortization of debt issuance costs and debt fair value adjustments 3,932 3,911 3,883
Early extinguishment of debt 0 0 25,867
Loan transfer and consent fees 0 0 8,808
Gain on acquisition of controlling interests 0 0 (46,371)
Stock-based compensation expense 2,845 2,852 2,615
Loss from real estate joint ventures (160) 0 188
Other, net 1,008 2,422 2,666
Changes in operating assets and liabilities      
Change in restricted cash (755) (1,000) 97
Change in accounts receivable (45) 63 (3,570)
Change in other assets (88) 143 (2,040)
Change in accounts payable and accrued expenses 1,167 (1,799) 2,128
Change in security deposits payable 307 (50) 82
Change in other liabilities and deferred credits 151 186 (1,025)
Net cash provided by operating activities of continuing operations 92,734 75,563 59,200
Net cash provided by operating activities of discontinued operations 0 382 6,164
Net cash provided by operating activities 92,734 75,945 65,364
INVESTING ACTIVITIES      
Acquisition of real estate, net of cash acquired 0 (273,990) (231,558)
Capital expenditures (55,675) (34,582) (10,777)
Change in restricted cash, reserves for capital improvements 453 2,557 (3,069)
Cash acquired from acquisition of controlling interests in real estate joint ventures 0 0 15,222
Leasing commissions (3,032) (3,456) (2,444)
Purchase of marketable securities 0 0 (33,103)
Maturity of marketable securities 0 4,384 4,993
Sale of marketable securities 0 23,191 0
Net cash used in investing activities of continuing operations (58,254) (281,896) (260,736)
Net cash provided by investing activities of discontinued operations 0 87,601 29,047
Net cash used in investing activities (58,254) (194,295) (231,689)
FINANCING ACTIVITIES      
Change in restricted cash (1,400) 0 0
Issuance of secured notes payable 0 132,900 84,500
Repayment of secured notes payable (95,420) (34,626) (264,250)
Defeasance costs on repayment of secured notes payable 0 0 (24,345)
Proceeds from unsecured line of credit 93,000 164,000 0
Repayment of unsecured line of credit 0 (164,000) 0
Loan transfer and consent fees paid 0 0 (8,350)
Repayment of unsecured notes payable 0 0 (38,013)
Repayment of notes payable to affiliates 0 0 (19,279)
Debt issuance costs 0 (1,355) (2,961)
Proceeds from issuance of common stock, net 25,348 0 596,541
Proceeds from private placement of common units 0 0 5,410
Dividends paid to common stock and unitholders (49,500) (48,452) (46,123)
Payments to nonaccredited investors 0 0 (6,075)
Deferred offering costs 0 (361) 0
Distributions to Predecessor's controlling and noncontrolling interests 0 0 (39,960)
Net cash (used in) provided by financing activities (27,972) 48,106 237,095
Net (decrease) increase in cash and cash equivalents 6,508 (70,244) 70,770
Cash and cash equivalents, beginning of period 42,479 112,723 41,953
Cash and cash equivalents, end of period $ 48,987 $ 42,479 $ 112,723