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CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF CASH FLOW (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Cash flow from operating activities:        
Net income $ 5,807 $ 5,520 $ 12,666 $ 10,557
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization     57,137 33,475
Amortization of deferred loan costs     1,626 1,585
Amortization of senior notes discount     128 123
Equity-based compensation expense     5,250 3,138
Bad debt expense     808 366
Write off of deferred loan costs       83
Deferred tax benefit     (5,059) (3,135)
Changes in operating assets and liabilities        
Rents and other receivables, net     (9,834) (1,556)
Prepaid expenses     (1,966) (2,760)
Other assets     (479) (326)
Accounts payable and accrued liabilities     5,390 (1,641)
Advance rents, security deposits and other liabilities     1,484 (454)
Deferred income     1,351 1,888
Net cash provided by operating activities     68,502 41,343
Cash flow from investing activities:        
Acquisitions, net of cash acquired     (122,981) (288,865)
Additions to property and equipment     (149,303) (170,150)
Net cash used in investing activities     (272,284) (459,015)
Cash flow from financing activities:        
Credit facility proceeds     231,000 350,162
Debt repayment     (259,002) (260,000)
Payment of deferred financing costs       (512)
Payment of cash dividends     (28,104) (19,673)
Distribution to noncontrolling interests     (4,724) (4,414)
Payments to net settle equity awards     (635) (182)
Principal payments on capital lease obligations     (6,454) (1,227)
Mortgage principal debt repayments       (16,600)
Equity proceeds, net of costs     275,673 370,074
Net cash provided by financing activities     207,754 417,628
Net increase (decrease) in cash and cash equivalents     3,972 (44)
Cash and cash equivalents, beginning of period     8,804 10,788
Cash and cash equivalents, end of period 12,776 10,744 12,776 10,744
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
Cash paid for interest (excluding deferred financing costs and amounts capitalized)     9,001 8,866
Noncash investing and financing activities:        
Accrued capital additions     16,988 56,366
Accrued equity issuance costs     10  
Capital lease and lease financing obligations assumed       43,832
Land 7,439 1,130 7,439 1,130
Buildings, improvements and equipment 78,370 79,372 78,370 79,372
Construction in process 13,900 12,127 13,900 12,127
Rents and other receivables, net (2,033) 13,781 (2,033) 13,781
Acquired intangibles 36,368 92,300 36,368 92,300
Deferred costs 4,084 532 4,084 532
Prepaid expenses 479 1,664 479 1,664
Goodwill     (7,895) 173,237
Other assets 303 737 303 737
Accounts payable and accrued liabilities (922) (12,429) (922) (12,429)
Advance rents, security deposits and other liabilities (1,102) (2,849) (1,102) (2,849)
Deferred income 35 (7,139) 35 (7,139)
Deferred income taxes (6,045) (19,766) (6,045) (19,766)
Total acquisitions, net of cash acquired     122,981 288,865
Qualitytech, LP [Member]        
Cash flow from operating activities:        
Net income 5,807 5,520 12,666 10,557
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization     57,137 33,475
Amortization of deferred loan costs     1,626 1,585
Amortization of senior notes discount     128 123
Equity-based compensation expense     5,250 3,138
Bad debt expense     808 366
Write off of deferred loan costs       83
Deferred tax benefit     (5,059) (3,135)
Changes in operating assets and liabilities        
Rents and other receivables, net     (9,834) (1,556)
Prepaid expenses     (1,966) (2,760)
Other assets     (479) (326)
Accounts payable and accrued liabilities     5,390 (1,641)
Advance rents, security deposits and other liabilities     1,484 (454)
Deferred income     1,351 1,888
Net cash provided by operating activities     68,502 41,343
Cash flow from investing activities:        
Acquisitions, net of cash acquired     (122,981) (288,865)
Additions to property and equipment     (149,303) (170,150)
Net cash used in investing activities     (272,284) (459,015)
Cash flow from financing activities:        
Credit facility proceeds     231,000 350,162
Debt repayment     (259,002) (260,000)
Payment of deferred financing costs       (512)
Payment of cash dividends     (28,104) (19,673)
Partnership distributions     (4,724) (4,414)
Payments to net settle equity awards     (635) (182)
Principal payments on capital lease obligations     (6,454) (1,227)
Mortgage principal debt repayments       (16,600)
Equity proceeds, net of costs     275,673 370,074
Net cash provided by financing activities     207,754 417,628
Net increase (decrease) in cash and cash equivalents     3,972 (44)
Cash and cash equivalents, beginning of period     8,804 10,788
Cash and cash equivalents, end of period 12,776 10,744 12,776 10,744
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION        
Cash paid for interest (excluding deferred financing costs and amounts capitalized)     9,001 8,866
Noncash investing and financing activities:        
Accrued capital additions     16,988 56,366
Accrued equity issuance costs     10  
Capital lease and lease financing obligations assumed       43,832
Land 7,439 1,130 7,439 1,130
Buildings, improvements and equipment 78,370 79,372 78,370 79,372
Construction in process 13,900 12,127 13,900 12,127
Rents and other receivables, net (2,033) 13,781 (2,033) 13,781
Acquired intangibles 36,368 92,300 36,368 92,300
Deferred costs 4,084 532 4,084 532
Prepaid expenses 479 1,664 479 1,664
Goodwill     (7,895) 173,237
Other assets 303 737 303 737
Accounts payable and accrued liabilities (922) (12,429) (922) (12,429)
Advance rents, security deposits and other liabilities (1,102) (2,849) (1,102) (2,849)
Deferred income 35 (7,139) 35 (7,139)
Deferred income taxes $ (6,045) $ (19,766) (6,045) (19,766)
Total acquisitions, net of cash acquired     $ 122,981 $ 288,865