|
Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
9 Months Ended |
12 Months Ended |
|
Dec. 31, 2013
|
Oct. 14, 2013
Historical Predecessor [Member]
|
Dec. 31, 2012
Historical Predecessor [Member]
|
Dec. 31, 2011
Historical Predecessor [Member]
|
| Cash flow from operating activities: |
|
|
|
|
| Net income (loss) |
$ 3,154 |
$ (152) |
$ (9,767) |
$ (909) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities |
|
|
|
|
| Depreciation and amortization |
10,636 |
34,624 |
33,688 |
25,077 |
| Amortization of deferred loan costs |
496 |
2,281 |
3,384 |
3,441 |
| Write off of deferred loan costs relating to retired debt |
153 |
2,031 |
1,434 |
|
| Equity-based compensation expense |
578 |
1,369 |
412 |
765 |
| Bad debt expense |
371 |
174 |
(192) |
328 |
| Change in fair value of derivatives |
|
|
(307) |
(4,830) |
| Amortization of acquired above and below-market leases, net |
|
|
|
(960) |
| (Gain) loss on sale/disposal of property |
|
|
(948) |
544 |
| Other |
|
|
|
(99) |
| Changes in operating assets and liabilities |
|
|
|
|
| Rents and other receivables, net |
(2,419) |
(617) |
(406) |
(2,437) |
| Accrued interest on member advances |
|
|
2,332 |
2,125 |
| Prepaid expenses |
678 |
(1,464) |
58 |
(188) |
| Restricted cash |
|
146 |
1,294 |
(679) |
| Other assets |
(463) |
486 |
(783) |
(540) |
| Accounts payable and accrued liabilities |
15,061 |
(9,234) |
5,322 |
2,574 |
| Advance rents, security deposits and other liabilities |
6 |
244 |
(1,586) |
(163) |
| Deferred income |
536 |
610 |
1,163 |
327 |
| Net cash provided by operating activities |
29,635 |
30,511 |
35,098 |
24,374 |
| Cash flow from investing activities: |
|
|
|
|
| Proceeds from sale of property |
|
|
1,549 |
|
| Acquisition of real estate |
|
(21,174) |
(63,250) |
|
| Additions to property and equipment |
(47,963) |
(99,701) |
(133,226) |
(118,746) |
| Net cash used for investing activities |
(47,963) |
(120,875) |
(194,927) |
(118,746) |
| Cash flow from financing activities: |
|
|
|
|
| Credit facility proceeds |
14,500 |
563,500 |
180,000 |
54,000 |
| Debt proceeds |
|
|
120,000 |
50,000 |
| Debt repayment |
(278,000) |
(456,994) |
(216,637) |
|
| Payment of swap liability |
|
|
(4,070) |
(4,120) |
| Payment of deferred financing costs |
(990) |
(4,483) |
(6,243) |
(1,920) |
| Partnership distributions |
|
(7,633) |
|
|
| Repurchase of equity awards |
|
(13) |
|
|
| Principal payments on capital lease obligation |
(180) |
(496) |
(790) |
(76) |
| Scheduled mortgage principal debt repayments |
(359) |
(2,057) |
(3,476) |
(3,215) |
| Equity proceeds, net of costs |
280,841 |
(1,966) |
91,935 |
|
| Net cash provided by financing activities |
15,812 |
89,858 |
160,719 |
94,669 |
| Net increase (decrease) in cash and cash equivalents |
(2,516) |
(506) |
890 |
297 |
| Cash and cash equivalents, beginning of period |
7,726 |
8,232 |
7,342 |
7,045 |
| Cash and cash equivalents, end of period |
5,210 |
7,726 |
8,232 |
7,342 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
|
|
| Cash paid for interest (excluding deferred financing costs) |
1,995 |
15,974 |
21,291 |
18,804 |
| Noncash investing and financing activities: |
|
|
|
|
| Accrued capital additions |
39,801 |
20,939 |
18,789 |
20,493 |
| Accrued deferred financing costs |
|
990 |
|
|
| Accrued equity issuance costs |
364 |
257 |
|
|
| Member advances exchanged for LP units |
|
$ 10,000 |
|
|