|
Net income (loss)
|
|
$2.7m
|
$3.5m
|
$4.4m
|
$8.4m
|
$19.1m
|
$22.5m
|
$22.0m
|
$7.7m
|
($3.2m)
|
$5.1m
|
|
Depreciation and amortization
|
|
$13.4m
|
$18.2m
|
$20.2m
|
$527k
|
$25.4m
|
$30.4m
|
$32.3m
|
$39.7m
|
$42.8m
|
$43.5m
|
|
Other amortization
|
|
—
|
—
|
$629k
|
$527k
|
$136k
|
$824k
|
$853k
|
$746k
|
$927k
|
$1.3m
|
|
Accelerated amortization of stock-based compensation
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$11.8m
|
$0
|
$4.6m
|
|
Deferred income tax expense
|
|
$0
|
($478k)
|
($1.5m)
|
$1.4m
|
$80k
|
$167k
|
$41k
|
$306k
|
$0
|
$23k
|
|
(Gains) on the sales of depreciable real estate assets, net of losses and impairments
|
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
$102k
|
$121k
|
($11.8m)
|
|
Stock-based compensation
|
|
$674k
|
$1.5m
|
$2.9m
|
$3.8m
|
$4.7m
|
$7.2m
|
$9.4m
|
$8.2m
|
$10.0m
|
$10.3m
|
|
Straight-line rent receivables
|
|
($611k)
|
($1.3m)
|
($1.2m)
|
($2.1m)
|
($3.2m)
|
($3.6m)
|
($3.4m)
|
($3.1m)
|
($1.9m)
|
($3.7m)
|
|
Credit loss reserve
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$11.0m
|
$8.7m
|
|
Net gain from insurance recovery on casualty loss
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($706k)
|
$0
|
$0
|
|
Other assets
|
|
($2.0m)
|
($1.1m)
|
($2.2m)
|
($1.8m)
|
$517k
|
($1.3m)
|
($1.8m)
|
($3.0m)
|
($3.3m)
|
$994k
|
|
Accounts payable and accrued liabilities
|
|
$2.1m
|
$402k
|
($1.3m)
|
($95k)
|
$1.0m
|
($438k)
|
$1.4m
|
$859k
|
$2.3m
|
($1.2m)
|
|
Other liabilities
|
|
($290k)
|
$1.4m
|
($1.5m)
|
($124k)
|
$329k
|
$829k
|
($579k)
|
($1.3m)
|
$221k
|
($1.4m)
|
|
Acquisitions of real estate
|
|
($103.2m)
|
($133.5m)
|
($45.2m)
|
($150.0m)
|
($126.8m)
|
($88.1m)
|
($96.7m)
|
($98.9m)
|
($72.4m)
|
($64.6m)
|
|
Proceeds from the sale of real estate
|
|
—
|
—
|
—
|
—
|
—
|
$1.3m
|
$0
|
$0
|
$2.3m
|
$32.2m
|
|
Funding of notes receivable
|
|
$0
|
$0
|
($4.8m)
|
$0
|
$0
|
($14.3m)
|
($9.7m)
|
($2.0m)
|
($3.1m)
|
$0
|
|
Proceeds from repayments on notes receivable
|
|
$104k
|
$833k
|
$92k
|
$1.2m
|
$10.3m
|
$4.0m
|
$3.0m
|
$3.9m
|
$5.1m
|
$5.2m
|
|
Insurance proceeds from casualty loss
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$2.3m
|
$0
|
$0
|
|
Net borrowings on revolving credit facility
|
|
$34.0m
|
($17.0m)
|
$9.0m
|
($28.0m)
|
($18.0m)
|
($21.0m)
|
($12.0m)
|
$50.0m
|
$162.0m
|
$46.0m
|
|
Term loan repayments
|
|
—
|
—
|
—
|
$0
|
$0
|
($50.0m)
|
($50.0m)
|
$0
|
($75.0m)
|
$0
|
|
Mortgage note repayments
|
|
—
|
$0
|
$0
|
($103k)
|
($108k)
|
($104k)
|
($130k)
|
($126k)
|
($4.8m)
|
$0
|
|
Equity issuance costs
|
|
($680k)
|
($611k)
|
($157k)
|
($449k)
|
($269k)
|
($216k)
|
($392k)
|
($227k)
|
($223k)
|
($317k)
|
|
Invoices accrued for construction, tenant improvement and other capitalized costs
|
|
$28k
|
$209k
|
$71k
|
$385k
|
$890k
|
$2.4m
|
$4.4m
|
$3.9m
|
$4.6m
|
$6.6m
|
|
Reclassification of registration statement costs to equity issuance costs
|
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
$197k
|
$354k
|
$175k
|
|
Capitalized interest
|
|
—
|
—
|
—
|
$0
|
$111k
|
$279k
|
$672k
|
$611k
|
$216k
|
$210k
|
|
Net cash provided by operating activities
|
|
$14.9m
|
$22.1m
|
$24.4m
|
$32.4m
|
$48.4m
|
$56.3m
|
$60.3m
|
$61.4m
|
$58.9m
|
$56.4m
|
|
Capital expenditures on existing real estate properties
|
|
($1.6m)
|
($1.1m)
|
($4.6m)
|
($4.4m)
|
($7.0m)
|
($7.2m)
|
($10.4m)
|
($19.0m)
|
($24.6m)
|
($20.5m)
|
|
Net cash used in investing activities
|
|
($117.1m)
|
($147.6m)
|
($53.5m)
|
($153.2m)
|
($125.1m)
|
($104.4m)
|
($113.8m)
|
($113.7m)
|
($92.7m)
|
($47.7m)
|
|
Debt issuance costs
|
|
($634k)
|
($743k)
|
($326k)
|
($1.3m)
|
$0
|
($1.6m)
|
($844k)
|
$0
|
($3.4m)
|
$0
|
|
Proceeds from issuance of common stock
|
|
$86.8m
|
$109.2m
|
$10.2m
|
$107.2m
|
$98.0m
|
$38.4m
|
$20.5m
|
$44.2m
|
$7.5m
|
$0
|
|
Dividends paid
|
|
($17.8m)
|
($24.4m)
|
($29.4m)
|
($31.9m)
|
($38.0m)
|
($42.4m)
|
($44.5m)
|
($48.1m)
|
($51.7m)
|
($53.7m)
|
|
Net cash (used in) provided by financing activities
|
|
$101.7m
|
$126.0m
|
$29.3m
|
$120.4m
|
$77.6m
|
$48.1m
|
$62.7m
|
$44.9m
|
$33.5m
|
($9.8m)
|
|
Decrease in cash, cash equivalents and restricted cash
|
|
($450k)
|
$562k
|
$262k
|
($369k)
|
$869k
|
($25k)
|
$9.2m
|
($7.4m)
|
($249k)
|
($1.0m)
|
|
(Decrease) increase in fair value of cash flow hedges
|
|
$0
|
$144k
|
$182k
|
($5.5m)
|
($9.9m)
|
$2.4m
|
$27.4m
|
$3.8m
|
$11.6m
|
($3.9m)
|
|
Cash, cash equivalents and restricted cash, beginning of period
|
|
$1.6m
|
$2.1m
|
$2.4m
|
$2.0m
|
$2.9m
|
$2.9m
|
$12.1m
|
$4.6m
|
$4.4m
|
$3.3m
|
|
Interest paid
|
|
$564k
|
$3.1m
|
$5.6m
|
$8.8m
|
$8.1m
|
$10.0m
|
$11.2m
|
$17.1m
|
$23.1m
|
$25.9m
|
|
Taxes paid on behalf of employees and shares withheld upon shares vesting
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($963k)
|
($785k)
|
($1.8m)
|