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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 25,697 $ 42,384
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including below-market ground leases) 38,789 34,240
Amortization of deferred financing costs 1,516 1,453
Amortization of stock-based compensation 3,122 2,816
Straight-line rental income (1,483) (1,631)
Adjustment for collectibility of rental income 12,078 0
Noncash interest income (31) (228)
Gain on sale of real estate (217) (2,051)
Interest income distribution from other real estate investment 463 0
Impairment of real estate investments 16,692 0
Provision for loan losses 1,076 0
Change in operating assets and liabilities:    
Accounts and other receivables, net (6,043) (5,499)
Prepaid expenses and other assets (348) (159)
Accounts payable and accrued liabilities 3,847 1,065
Net cash provided by operating activities 95,158 72,390
Cash flows from investing activities:    
Acquisitions of real estate, net of deposits applied (298,557) (75,621)
Improvements to real estate (1,230) (5,401)
Purchases of equipment, furniture and fixtures (2,926) (1,262)
Investment in real estate mortgage and other loans receivable (14,699) (2,598)
Principal payments received on real estate mortgage and other loans receivable 11,959 893
Repayment of other real estate investment 2,204 0
Escrow deposits for acquisitions of real estate (22,920) (1,000)
Net proceeds from sales of real estate 218 13,004
Net cash used in investing activities (325,951) (71,985)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net 195,963 130,546
Proceeds from the issuance of senior unsecured term loan 200,000 0
Borrowings under unsecured revolving credit facility 235,000 60,000
Payments on unsecured revolving credit facility (265,000) (135,000)
Payments on senior unsecured term loan (100,000) 0
Payments of deferred financing costs (4,534) 0
Net-settle adjustment on restricted stock (2,524) (1,288)
Dividends paid on common stock (59,155) (45,827)
Net cash provided by financing activities 199,750 8,431
Net (decrease) increase in cash and cash equivalents (31,043) 8,836
Cash and cash equivalents, beginning of period 36,792 6,909
Cash and cash equivalents, end of period 5,749 15,745
Supplemental disclosures of cash flow information:    
Interest paid 15,648 15,772
Supplemental schedule of noncash investing and financing activities:    
Increase in dividends payable 3,864 3,202
Right-of-use asset obtained in exchange for new operating lease obligation 1,010 0
Transfer of pre-acquisition costs to acquired assets 242 0
Increase in pre-acquisition costs payable 137 0
Sale of real estate settled with notes receivable $ 27,500 $ 0