Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 1,194 $ 3,147
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,374 12,172
Amortization of deferred financing costs 1,410 1,103
Amortization of deferred rent asset and liability, net (243) (533)
Amortization of discount and premium on assumed debt (128) 45
Asset retirement obligation expense 96 124
Increase (decrease) in other assets 242 (261)
Increase in deferred rent liability   2,510
Increase in deferred rent receivable (2,724) (1,189)
(Decrease) increase in accounts payable, accrued expenses, and amount due Adviser and Administrator (1,339) 2,810
Decrease in other liabilities 1,698 240
Leasing commissions paid (1,008) (1,538)
Net cash provided by operating activities 15,572 18,630
Cash flows from investing activities:    
Acquisition of real estate and related intangible assets (104,806) (47,307)
Improvements of existing real estate (5,355) (5,526)
Receipts from lenders for funds held in escrow 5,764 1,286
Payments to lenders for funds held in escrow (7,159) (3,406)
Receipts from tenants for reserves 5,657 2,156
Payments to tenants from reserves (2,167) (1,647)
Increase in restricted cash (3,472) (642)
Deposits on future acquisitions (2,125) (1,625)
Deposits applied against real estate investments 2,675 1,125
Net cash used in investing activities (110,988) (55,586)
Cash flows from financing activities:    
Proceeds from issuance of equity 62,139 1,103
Offering costs (3,533) (125)
Proceeds from issuance of mandatorily redeemable preferred stock   38,500
Borrowings under mortgage notes payable 56,108 46,455
Payments for deferred financing costs (1,484) (3,483)
Principal repayments on mortgage notes payable (5,403) (5,544)
Principal repayments on employee notes receivable 35 12
Borrowings from line of credit 58,900 19,300
Repayments on line of credit (55,000) (32,500)
(Decrease) increase in security deposits (18) 134
Distributions paid for common, senior common and preferred stock (17,343) (15,443)
Net cash provided by financing activities 94,401 48,409
Net (decrease) increase in cash and cash equivalents (1,015) 11,453
Cash and cash equivalents, beginning of period 5,546 3,329
Cash and cash equivalents, end of period 4,531 14,782
Fixed rate debt assumed in connection with acquisitions   10,758
Senior common dividend issued in the dividend reinvestment program $ 85 $ 11