| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||
Net income | ||||||
77,186 | 58,321 | 39,773 | 31,522 | 12,741 | -4,418 | -2,636 |
Adjustments to reconcile net income to net cash provided by operating activities | ||||||
Depreciation and amortization | ||||||
146,436 | 158,389 | 125,159 | 86,589 | 45,471 | 16,731 | 5,107 |
Amortization of deferred financing costs | ||||||
2,416 | 2,428 | 2,299 | 2,325 | 1,373 | 1,097 | 510 |
Amortization of lease inducements and above/below-market lease intangibles | ||||||
4,859 | 4,659 | 5,083 | 3,906 | 2,577 | 571 | 141 |
Straight-line rental revenue/expense | ||||||
9,986 | 21,860 | 16,202 | 16,226 | 9,000 | 4,366 | 675 |
Amortization of discount on unsecured senior notes | ||||||
603 | 577 | 277 | 0 | 0 | - | - |
Amortization of above market assumed debt | ||||||
-62 | -62 | -178 | -236 | -173 | 0 | 0 |
Gain (Loss) on Disposition of Assets | ||||||
31,309 | 11,664 | 5,874 | 0 | 130 | 32 | -2 |
Income (Loss) from Equity Method Investments | ||||||
-28 | 114 | 183 | 115 | 104 | 95 | 0 |
Distributions from unconsolidated entities | ||||||
119 | 112 | 210 | 82 | 106 | 71 | 0 |
Change in fair value of derivative | ||||||
-1 | 6 | -150 | 240 | 166 | 161 | 246 |
Provision for bad debts | ||||||
2,206 | 304 | 123 | 2,310 | 69 | 9 | 30 |
Non-cash share compensation | ||||||
10,115 | 8,681 | 6,695 | 5,672 | 3,798 | 2,422 | 433 |
Ziegler shared service amendment payment | ||||||
- | - | - | - | - | 1,800 | 0 |
Net change in fair value of contingent consideration | ||||||
-37 | -50 | -472 | -840 | 0 | 0 | - |
Impairment of Real Estate | ||||||
0 | 0 | 965 | 0 | 0 | 1,750 | 0 |
Change in operating assets and liabilities: | ||||||
Tenant receivables | ||||||
5,902 | -230 | 2,988 | 10,058 | 2,836 | 986 | 184 |
Other assets | ||||||
2,955 | 852 | 533 | 19,230 | 2,630 | 3,518 | 1,074 |
Accounts payable to related parties | ||||||
- | - | - | - | - | - | -1,530 |
Accounts payable | ||||||
2,462 | -7,137 | 6,600 | 3,779 | -56 | -136 | 34 |
Accrued expenses and other liabilities | ||||||
4,997 | 16,738 | 19,567 | 37,957 | 8,312 | 2,556 | 1,256 |
Net cash provided by operating activities | ||||||
201,177 | 208,694 | 180,471 | 127,197 | 59,352 | 13,295 | 1,168 |
Cash Flows from Investing Activities: | ||||||
Proceeds on sale of investment properties | ||||||
20,934 | 217,222 | 20,397 | 0 | 3,039 | 235 | 448 |
Acquisition of investment properties, net | ||||||
113,081 | 236,595 | 1,268,442 | - | - | - | - |
Investment in unconsolidated entities | ||||||
25,954 | 0 | 0 | 1,240,438 | 752,807 | 501,127 | 125,728 |
Acquisition of noncontrolling interests | ||||||
1,112 | 6,406 | 8,469 | 4,690 | 0 | - | - |
Escrowed cash - acquisition deposits/earnest deposits | ||||||
10 | -2,780 | 1,280 | 1,157 | -2,000 | - | - |
Capital expenditures on investment properties | ||||||
40,137 | 34,638 | 23,243 | 11,304 | 4,988 | 900 | 0 |
Pay down of contingent consideration | ||||||
0 | 0 | -156 | -483 | -999 | 0 | 0 |
Issuances of real estate loans receivable | ||||||
100,744 | 11,750 | 39,063 | 10,207 | 22,359 | 15,386 | 0 |
Repayment of real estate loans receivable | ||||||
7,855 | 15,928 | 4,711 | 11,336 | 0 | 0 | - |
Issuances of note receivable | ||||||
0 | 20,385 | 0 | 0 | 20,545 | 0 | 0 |
Repayments of note receivable | ||||||
0 | 0 | 16,423 | 4,118 | 0 | 0 | - |
Leasing commissions | ||||||
3,057 | 3,167 | 1,449 | 1,034 | 579 | 100 | 163 |
Lease inducements | ||||||
2 | 172 | 2,067 | 8,957 | 2,478 | 1,532 | 1,000 |
Net cash used in investing activities | ||||||
-255,308 | -77,183 | -1,302,638 | -1,262,816 | -799,716 | -518,810 | -126,443 |
Cash Flows from Financing Activities: | ||||||
Net proceeds from sale of common shares | ||||||
131,629 | 10,759 | 844,669 | 766,841 | 545,117 | 350,384 | 225,920 |
Formation transactions | ||||||
- | - | - | - | - | - | -354 |
Proceeds from credit facility borrowings | ||||||
454,000 | 422,000 | 927,000 | 1,181,000 | 620,000 | 395,200 | 52,350 |
Repayment of credit facility borrowings | ||||||
330,000 | 287,000 | 1,248,000 | 925,000 | 363,000 | 257,200 | 52,350 |
Proceeds from issuance of mortgage debt | ||||||
0 | 0 | 61,000 | 39,500 | 0 | 26,550 | 162 |
Proceeds from issuance of senior unsecured notes | ||||||
0 | 0 | 743,060 | 225,000 | 0 | 0 | - |
Principal payments on mortgage debt | ||||||
25,184 | 78,018 | 41,503 | 10,232 | 2,022 | 6,549 | 41,832 |
Debt issuance costs | ||||||
117 | 4,540 | 1,589 | 4,816 | 3,105 | 3,887 | 1,428 |
OP Unit distributions - General Partner | ||||||
170,880 | 168,060 | 143,108 | 104,908 | 63,720 | 28,104 | 2,161 |
OP Unit distributions - Limited Partners | ||||||
4,838 | 4,808 | 4,388 | 3,162 | 3,216 | 3,382 | 493 |
Preferred OP Units distributions - Limited Partner | ||||||
1,176 | 911 | 600 | 1,508 | 563 | 0 | 211 |
Contributions to noncontrolling interests | ||||||
572 | 0 | 47 | 0 | 0 | - | - |
Distributions to noncontrolling interests - partially owned properties | ||||||
582 | 547 | 748 | 543 | 213 | 185 | 464 |
Payments of employee taxes for withheld stock-based compensation shares | ||||||
-2,076 | -1,749 | -2,590 | -778 | -606 | - | - |
Purchases of Series A Preferred Units | ||||||
0 | 0 | 19,961 | 9,756 | 0 | 0 | - |
Purchase of Limited Partner Units | ||||||
14,023 | 2,203 | 3,886 | 3,671 | 1,088 | 7,546 | 0 |
Common shares repurchased and retired | ||||||
- | - | - | - | - | 321 | 0 |
Net cash used in financing activities | ||||||
37,325 | -115,077 | 1,109,403 | 1,147,967 | 727,584 | 464,960 | 179,139 |
Net increase (decrease) in cash and cash equivalents | ||||||
-16,806 | 16,434 | -12,764 | 12,348 | -12,780 | -40,555 | 53,864 |
Supplemental cash flow information: | ||||||
Supplemental disclosure of cash flow information - interest paid during the period | ||||||
62,633 | 58,705 | 38,781 | 17,151 | 9,550 | 5,606 | 3,942 |
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements | ||||||
-10,112 | 481 | 244 | 13,708 | - | 0 | - |
Other Comprehensive Income (Loss), Net of Tax | ||||||
- | - | - | - | 0 | - | - |
Change in fair value of interest rate swap agreements | ||||||
- | - | - | - | - | 0 | - |
Supplemental disclosure of noncash activity - assumed debt | ||||||
0 | 0 | 43,989 | 0 | 18,690 | 15,283 | 0 |
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | ||||||
- | - | - | - | - | 28,589 | - |
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | ||||||
25,200 | 22,651 | 44,978 | 6,769 | 40,376 | 28,589 | 11,535 |
Supplemental disclosure of noncash activity - contingent consideration | ||||||
0 | 0 | 765 | 156 | 2,718 | 840 | 0 |
Operating Partnership | ||||||
Net income | ||||||
77,186 | 58,321 | 39,773 | 31,522 | - | - | - |
Depreciation and amortization | ||||||
146,436 | 158,389 | 125,159 | 86,589 | - | - | - |
Amortization of deferred financing costs | ||||||
2,416 | 2,428 | 2,299 | 2,325 | - | - | - |
Amortization of lease inducements and above/below-market lease intangibles | ||||||
4,859 | 4,659 | 5,083 | 3,906 | - | - | - |
Straight-line rental revenue/expense | ||||||
9,986 | 21,860 | 16,202 | 16,226 | - | - | - |
Amortization of discount on unsecured senior notes | ||||||
603 | 577 | 277 | 0 | - | - | - |
Amortization of above market assumed debt | ||||||
-62 | -62 | -178 | -236 | - | - | - |
Income (Loss) from Equity Method Investments | ||||||
-28 | 114 | 183 | 115 | - | - | - |
Distributions from unconsolidated entities | ||||||
119 | 112 | 210 | 82 | - | - | - |
Change in fair value of derivative | ||||||
-1 | 6 | -150 | 240 | - | - | - |
Provision for bad debts | ||||||
2,206 | 304 | 123 | 2,310 | - | - | - |
Non-cash share compensation | ||||||
10,115 | 8,681 | 6,695 | 5,672 | - | - | - |
Tenant receivables | ||||||
5,902 | -230 | 2,988 | 10,058 | - | - | - |
Other assets | ||||||
2,955 | 852 | 533 | 19,230 | - | - | - |
Accounts payable | ||||||
2,462 | -7,137 | 6,600 | 3,779 | - | - | - |
Accrued expenses and other liabilities | ||||||
4,997 | 16,738 | 19,567 | 37,957 | - | - | - |
Net cash provided by operating activities | ||||||
201,177 | 208,694 | 180,471 | 127,197 | - | - | - |
Acquisition of investment properties, net | ||||||
113,081 | 236,595 | 1,268,442 | - | - | - | - |
Escrowed cash - acquisition deposits/earnest deposits | ||||||
10 | -2,780 | 1,280 | 1,157 | - | - | - |
Capital expenditures on investment properties | ||||||
40,137 | 34,638 | 23,243 | 11,304 | - | - | - |
Repayment of real estate loans receivable | ||||||
7,855 | 15,928 | 4,711 | 11,336 | - | - | - |
Leasing commissions | ||||||
3,057 | 3,167 | 1,449 | 1,034 | - | - | - |
Lease inducements | ||||||
2 | 172 | 2,067 | 8,957 | - | - | - |
Net cash used in investing activities | ||||||
-255,308 | -77,183 | -1,302,638 | -1,262,816 | - | - | - |
Net proceeds from sale of common shares | ||||||
131,629 | 10,759 | 844,669 | 766,841 | - | - | - |
Proceeds from credit facility borrowings | ||||||
454,000 | 422,000 | 927,000 | 1,181,000 | - | - | - |
Repayment of credit facility borrowings | ||||||
330,000 | 287,000 | 1,248,000 | 925,000 | - | - | - |
Principal payments on mortgage debt | ||||||
25,184 | 78,018 | 41,503 | 10,232 | - | - | - |
Debt issuance costs | ||||||
117 | 4,540 | 1,589 | 4,816 | - | - | - |
OP Unit distributions - General Partner | ||||||
170,880 | 168,060 | 143,108 | 104,908 | - | - | - |
OP Unit distributions - Limited Partners | ||||||
4,838 | 4,808 | 4,388 | 3,162 | - | - | - |
Preferred OP Units distributions - Limited Partner | ||||||
1,176 | 911 | 600 | 1,508 | - | - | - |
Distributions to noncontrolling interests - partially owned properties | ||||||
582 | 547 | 748 | 543 | - | - | - |
Payments of employee taxes for withheld stock-based compensation shares | ||||||
-2,076 | -1,749 | -2,590 | -778 | - | - | - |
Purchase of Limited Partner Units | ||||||
14,023 | 2,203 | 3,886 | 3,671 | - | - | - |
Net cash used in financing activities | ||||||
37,325 | -115,077 | 1,109,403 | 1,147,967 | - | - | - |
Net increase (decrease) in cash and cash equivalents | ||||||
-16,806 | 16,434 | -12,764 | 12,348 | - | - | - |
Supplemental disclosure of cash flow information - interest paid during the period | ||||||
62,633 | 58,705 | 38,781 | 17,151 | - | - | - |
Supplemental disclosure of noncash activity - change in fair value of interest rate swap agreements | ||||||
-10,112 | 481 | 244 | 13,708 | - | - | - |
Physicians Realty L P [Member] | ||||||
Gain (Loss) on Disposition of Assets | ||||||
31,309 | 11,664 | 5,874 | 0 | - | - | - |
Net change in fair value of contingent consideration | ||||||
-37 | -50 | -472 | -840 | - | - | - |
Impairment of Real Estate | ||||||
0 | 0 | 965 | 0 | - | - | - |
Proceeds on sale of investment properties | ||||||
20,934 | 217,222 | 20,397 | 0 | - | - | - |
Investment in unconsolidated entities | ||||||
25,954 | 0 | 0 | 1,240,438 | - | - | - |
Acquisition of noncontrolling interests | ||||||
1,112 | 6,406 | 8,469 | 4,690 | - | - | - |
Pay down of contingent consideration | ||||||
0 | 0 | -156 | -483 | - | - | - |
Issuances of real estate loans receivable | ||||||
100,744 | 11,750 | 39,063 | 10,207 | - | - | - |
Issuances of note receivable | ||||||
0 | 20,385 | 0 | 0 | - | - | - |
Repayments of note receivable | ||||||
0 | 0 | 16,423 | 4,118 | - | - | - |
Proceeds from issuance of mortgage debt | ||||||
0 | 0 | 61,000 | 39,500 | - | - | - |
Proceeds from issuance of senior unsecured notes | ||||||
0 | 0 | 743,060 | 225,000 | - | - | - |
Contributions to noncontrolling interests | ||||||
572 | 0 | 47 | 0 | - | - | - |
Purchases of Series A Preferred Units | ||||||
0 | 0 | 19,961 | 9,756 | - | - | - |
Supplemental disclosure of noncash activity - assumed debt | ||||||
0 | 0 | 43,989 | 0 | - | - | - |
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | ||||||
25,200 | 22,651 | 44,978 | 6,769 | - | - | - |
Supplemental disclosure of noncash activity - contingent consideration | ||||||
0 | 0 | 765 | 156 | - | - | - |