CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
12 Months Ended |
Mar. 31, 2019 |
Mar. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
| Cash flows from operating activities: |
|
|
|
|
|
| Net income |
$ 4,361
|
$ 7,504
|
$ 28,873
|
$ 21,279
|
$ 11,297
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
| Depreciation and amortization |
18,246
|
13,717
|
58,258
|
41,133
|
19,211
|
| Amortization of deferred financing costs |
606
|
756
|
2,810
|
2,612
|
1,061
|
| Amortization of above-market leases |
156
|
134
|
552
|
309
|
36
|
| Amortization of intangible lease liabilities |
(1,232)
|
(1,221)
|
(4,832)
|
(2,126)
|
(536)
|
| Amortization of operating leases |
113
|
0
|
|
|
|
| Straight-line rent |
(2,674)
|
(3,311)
|
(13,364)
|
(10,596)
|
(6,263)
|
| Stock-based compensation |
23
|
22
|
90
|
76
|
58
|
| Ineffectiveness of interest rate swaps |
0
|
39
|
98
|
(58)
|
(144)
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
| Accounts payable and other liabilities |
(1,160)
|
1,584
|
5,151
|
5,385
|
1,307
|
| Accounts payable due to affiliates |
(205)
|
50
|
413
|
645
|
531
|
| Other assets |
1,713
|
19
|
(3,838)
|
(6,832)
|
(1,583)
|
| Net cash provided by operating activities |
19,947
|
19,293
|
74,211
|
51,827
|
24,975
|
| Cash flows from investing activities: |
|
|
|
|
|
| Investment in real estate |
0
|
(52,087)
|
(217,332)
|
(604,372)
|
(535,447)
|
| Capital expenditures |
(1,073)
|
(5,755)
|
(15,583)
|
(32,511)
|
(8,253)
|
| Real estate deposits, net |
0
|
(100)
|
100
|
190
|
153
|
| Payments of deal costs |
(106)
|
0
|
|
|
|
| Net cash used in investing activities |
(1,179)
|
(57,942)
|
(232,815)
|
(636,693)
|
(543,547)
|
| Cash flows from financing activities: |
|
|
|
|
|
| Proceeds from issuance of common stock |
0
|
34,096
|
118,605
|
386,091
|
314,836
|
| Proceeds from notes payable |
|
|
0
|
309,452
|
152,990
|
| Payments on notes payable |
(305)
|
(85)
|
(349)
|
(43)
|
0
|
| Proceeds from credit facility |
10,000
|
30,000
|
155,000
|
240,000
|
240,000
|
| Payments on credit facility |
|
|
(20,000)
|
(240,000)
|
(110,000)
|
| Payments of deferred financing costs |
(67)
|
(65)
|
(4,958)
|
(3,564)
|
(4,133)
|
| Repurchases of common stock |
(10,733)
|
(8,420)
|
(43,230)
|
(17,159)
|
(3,114)
|
| Offering costs on issuance of common stock |
(1,036)
|
(3,672)
|
(12,388)
|
(32,079)
|
(30,628)
|
| Distributions to stockholders |
(10,813)
|
(9,333)
|
(40,296)
|
(28,994)
|
(17,659)
|
| Net cash (used in) provided by financing activities |
(12,954)
|
42,521
|
152,384
|
613,704
|
542,292
|
| Net change in cash, cash equivalents and restricted cash |
5,814
|
3,872
|
(6,220)
|
28,838
|
23,720
|
| Cash, cash equivalents and restricted cash - Beginning of period |
79,527
|
85,747
|
85,747
|
56,909
|
33,189
|
| Cash, cash equivalents and restricted cash - End of period |
85,341
|
89,619
|
79,527
|
85,747
|
56,909
|
| Supplemental cash flow disclosure: |
|
|
|
|
|
| Interest paid, net of interest capitalized |
9,462
|
7,265
|
32,503
|
20,867
|
3,341
|
| Supplemental disclosure of non-cash transactions: |
|
|
|
|
|
| Common stock issued through distribution reinvestment plan |
10,385
|
9,920
|
40,938
|
32,264
|
22,889
|
| Distribution and servicing fees accrued during the period |
|
|
0
|
7,626
|
5,750
|
| Liabilities assumed at acquisition |
|
|
0
|
6,551
|
1,236
|
| Accrued capital expenditures |
1,161
|
1,268
|
$ 0
|
$ 2,643
|
$ 4,221
|
| Accrued deal costs |
$ 802
|
$ 0
|
|
|
|