| Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
-83,899 | -40,269 | -94,285 | -19,311 | -6,372 | - | - |
Net loss attributable to stockholders | ||||||
- | - | - | - | - | -3,419 | -1,762 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
68,952 | 82,716 | 84,799 | 31,751 | - | - | - |
Depreciation | ||||||
- | - | - | - | 6,368 | 2,609 | 500 |
Amortization of intangibles | ||||||
- | - | - | - | 1,729 | 1,434 | 540 |
Amortization of deferred financing costs | ||||||
8,088 | 7,036 | 8,184 | 2,369 | 889 | 502 | 80 |
Accretion of below- and amortization of above-market lease liabilities and assets, net | ||||||
-6,468 | -8,366 | - | 2,681 | - | - | - |
Accretion of below- and amortization of above-market lease liabilities and assets, net | ||||||
-6,468 | -8,366 | 9,738 | 2,681 | - | - | - |
Vesting of asset management fees and final value of listing note | ||||||
- | - | 44,979 | 0 | 0 | - | - |
Loss on derivative instruments | ||||||
-331 | -75 | 1 | - | - | - | - |
Loss (gain) on derivative instruments | ||||||
- | - | - | 5 | - | - | - |
Gain on sale of real estate investment, net | ||||||
6,630 | 7,523 | 0 | 0 | - | - | - |
Impairment loss on real estate | ||||||
27,911 | - | 0 | - | - | - | - |
Gain on sale of investment securities | ||||||
- | 109 | 0 | 0 | - | - | - |
Bad debt expense | ||||||
405 | 870 | 220 | 481 | 0 | - | - |
Accretion of below- and amortization of above-market lease liabilities and assets, net | ||||||
- | - | - | - | -433 | -239 | -75 |
Bad debt expense | ||||||
- | - | - | - | - | 0 | - |
Equity-based compensation | ||||||
-1,825 | -15,245 | 7,752 | 232 | 180 | 218 | 5 |
Loss on derivative instruments | ||||||
- | - | - | - | -14 | -3 | - |
Net loss attributable to non-controlling interests | ||||||
- | - | - | - | - | 154 | -109 |
Income from unconsolidated joint venture | ||||||
2,724 | 1,939 | -1,499 | -95 | 0 | 0 | - |
Non-controlling interest issued | ||||||
- | - | - | - | 100 | 0 | 0 |
Non-controlling interest issued | ||||||
- | - | - | - | - | 0 | 0 |
Changes in assets and liabilities: | ||||||
Tenant and other receivables | ||||||
595 | -952 | 2,823 | 1,215 | 404 | - | - |
Unbilled rent receivables | ||||||
9,929 | 13,683 | 19,590 | 8,968 | 1,573 | - | - |
Loss on derivative instrument | ||||||
- | - | - | - | - | - | 0 |
Prepaid expenses, other assets and deferred costs | ||||||
3,997 | -349 | 6,632 | 8,566 | 1,343 | 1,160 | 652 |
Accrued unbilled ground rent | ||||||
2,743 | 3,179 | - | -476 | - | - | - |
Accrued unbilled ground rent | ||||||
2,743 | 3,179 | -4,348 | -476 | - | - | - |
Accrued unbilled ground rent | ||||||
- | - | - | - | 0 | - | - |
Accounts payable and accrued expenses | ||||||
3,338 | -102 | -8,730 | 7,314 | 3,236 | 136 | 394 |
Due from affiliated entities | ||||||
- | - | - | 325 | 0 | 0 | -357 |
Deferred revenue | ||||||
931 | -706 | -3,447 | 7,131 | 639 | - | - |
Deferred rent and other liabilities | ||||||
- | - | - | - | - | 25 | 202 |
Net cash used in operating activities | ||||||
-3,368 | - | 6,535 | 9,428 | 3,030 | 263 | -1,234 |
Cash flows from investing activities: | ||||||
Net cash used in operating activities | ||||||
- | 37,725 | - | - | - | - | - |
Proceeds from sale of real estate investments and redemption of preferred equity investment | ||||||
35,429 | 70,854 | - | - | - | - | - |
Proceeds from sale of real estate investments and redemption of preferred equity investment | ||||||
35,429 | 70,854 | 0 | - | - | - | - |
Proceeds from sale of preferred equity investment and other real estate investments | ||||||
- | - | - | 0 | - | - | - |
Investment in real estate and other assets | ||||||
- | - | 316,206 | 1,298,228 | 144,750 | 25,276 | 30,729 |
Acquisition funds released from escrow | ||||||
- | -4,748 | 4,748 | 0 | - | - | - |
Acquisition funds held in escrow | ||||||
- | - | - | - | 0 | - | - |
Capital expenditures | ||||||
22,284 | 30,289 | 11,801 | 12,089 | 1,003 | 460 | 0 |
Purchase of investment securities | ||||||
- | 78 | 3,127 | 1,288 | 0 | 0 | - |
Proceeds from sale of investment securities | ||||||
- | 4,602 | 0 | 0 | - | - | - |
Distributions from unconsolidated joint venture | ||||||
27,509 | 12,070 | 8,047 | 2,097 | - | - | - |
Net cash provided by investing activities | ||||||
- | 61,907 | - | - | - | - | - |
Distributions from unconsolidated joint venture | ||||||
- | - | - | - | 0 | - | - |
Distributions from unconsolidated joint venture | ||||||
- | - | - | - | - | 0 | - |
Net cash provided by investing activities | ||||||
40,654 | - | -327,835 | -1,309,508 | -145,753 | -25,736 | -30,729 |
Cash flows from financing activities: | ||||||
Proceeds from notes payable | ||||||
- | - | - | - | - | - | 8,900 |
Payments on notes payable | ||||||
- | - | - | - | 5,933 | 0 | 2,967 |
Proceeds from mortgage notes payable | ||||||
500,000 | 305,000 | 0 | 0 | 31,565 | - | - |
Proceeds from mortgage notes payable | ||||||
- | - | - | - | - | 21,300 | 0 |
Payments on mortgage notes payable | ||||||
19,175 | 88,806 | 474 | 72,853 | 434 | 14,085 | 136 |
Proceeds from credit facility | ||||||
- | - | 330,000 | 305,000 | 48,495 | 0 | 0 |
Payments on credit facility | ||||||
485,000 | 150,000 | 0 | 19,995 | 28,500 | 0 | 0 |
Proceeds from issuance of common stock | ||||||
- | - | 11,311 | 1,492,523 | 127,962 | - | - |
Proceeds from issuance of common stock | ||||||
- | - | - | - | - | 42,545 | 2,875 |
Proceeds from issuance of operating partnership units | ||||||
- | - | 750 | 0 | 0 | - | - |
Payments for derivative instruments | ||||||
733 | 488 | 0 | 0 | - | - | - |
Repurchases of common stock, inclusive of fees and expenses | ||||||
- | - | 154,269 | 1,763 | 424 | 0 | 0 |
Proceeds from issuance of convertible preferred stock, net | ||||||
- | - | - | - | - | - | 16,954 |
Payments of offering costs and fees related to stock issuances | ||||||
- | - | 1,506 | 148,223 | 13,618 | 10,050 | 3,655 |
Payment of financing costs | ||||||
18,992 | 10,771 | 7,293 | 7,562 | 4,582 | 1,992 | 1,328 |
Dividends paid | ||||||
63,289 | 74,707 | 66,129 | 17,799 | 3,445 | 2,025 | 684 |
Payments to affiliate | ||||||
- | - | - | - | -33 | - | - |
Due from affiliate | ||||||
- | - | - | - | - | -19 | 113 |
Distributions to non-controlling interest holders | ||||||
1,929 | 3,184 | 780 | 65 | 481 | 909 | 0 |
Redemption of restricted shares | ||||||
197 | 65 | 698 | - | - | - | - |
Redemptions of OP units and restricted shares | ||||||
- | - | - | -1,000 | - | - | - |
Redemptions of OP units | ||||||
- | - | - | - | 12,000 | - | - |
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | ||||||
- | - | - | - | - | 0 | - |
Contributions from non-controlling interest holders | ||||||
- | - | - | - | - | - | 13,000 |
Payments to non-controlling interest holder | ||||||
- | - | - | - | - | - | 0 |
Restricted cash | ||||||
-1,039 | -519 | -477 | -160 | -783 | 581 | -760 |
Net cash used in financing activities | ||||||
- | -23,540 | - | - | - | - | - |
Net cash used in financing activities | ||||||
-90,354 | - | 110,435 | 1,528,103 | 137,855 | 35,346 | 32,312 |
Net decrease in cash and cash equivalents | ||||||
-53,068 | - | - | - | - | - | - |
Net decrease in cash and cash equivalents | ||||||
- | 76,092 | -210,865 | 228,023 | -4,868 | 9,873 | 349 |
Supplemental disclosures: | ||||||
Cash paid for interest | ||||||
28,153 | - | - | - | - | - | - |
Cash paid for interest | ||||||
- | 21,660 | 15,467 | 7,946 | 4,016 | 2,541 | 788 |
Non-cash investing and financing activities: | ||||||
Accrued capital expenditures | ||||||
105 | 498 | 3,555 | 0 | 0 | - | - |
Reclassification of real estate and other assets held for sale | ||||||
- | 29,268 | - | - | - | - | - |
Reclassification of liabilities related to real estate and other assets held for sale | ||||||
- | 321 | - | - | - | - | - |
Reclassification of real estate and other assets to held for sale | ||||||
- | 29,268 | 0 | 0 | - | - | - |
Reclassification of liabilities related to real estate and other assets to held for sale | ||||||
- | 321 | 0 | 0 | - | - | - |
Cash paid for income taxes | ||||||
- | - | - | - | - | - | 0 |
Mortgage notes payable used to acquire investments in real estate | ||||||
- | - | - | 60,000 | 79,188 | - | - |
Liabilities assumed in acquisition of real estate | ||||||
- | - | - | 12,206 | 4,760 | 0 | 0 |
Accrued offering costs | ||||||
- | - | - | - | 424 | - | - |
Accrued repurchase requests | ||||||
- | - | - | - | 383 | - | - |
Receivable for mortgage proceeds | ||||||
260,000 | - | 0 | - | 380 | 0 | 0 |
Debt assumed in real estate acquisitions | ||||||
- | - | - | 1,411 | - | - | 14,221 |
Conversion of preferred stock to common stock | ||||||
- | - | - | 506 | - | 16,954 | - |
Redemption/Conversion of units for common stock | ||||||
- | - | - | 0 | - | - | - |
Common stock issued through distribution reinvestment plan | ||||||
- | - | 19,019 | 18,852 | - | - | - |
Mortgage notes payable used to acquire investments in real estate | ||||||
- | - | - | - | - | 32,650 | 21,300 |
Common stock issued through distribution reinvestment plan | ||||||
- | - | - | - | 3,258 | 419 | 0 |
Reclassification of offering costs | ||||||
- | - | - | - | - | - | 954 |
OP Units [Member] | ||||||
Redemption/Conversion of units for common stock | ||||||
31,199 | - | - | - | - | - | - |
LTIP Units [Member] | ||||||
Redemption/Conversion of units for common stock | ||||||
9,713 | - | - | - | - | - | - |