Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,181 $ 4,802
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,683 10,892
Amortization of debt issuance costs 516 587
Amortization of debt discount and premium, net (399) (467)
Equity-based compensation expense 983 598
Equity in losses of unconsolidated real estate venture 785 0
Distributions from unconsolidated real estate venture 1,251 0
Change in assets and liabilities, net of effects of self storage property acquisitions:    
Other assets (665) (1,108)
Accounts payable and accrued liabilities (102) 2,189
Deferred revenue (28) 199
Net Cash Provided by Operating Activities 28,205 17,692
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of self storage properties (26,363) (62,669)
Capital expenditures (3,154) (600)
Deposits and advances for self storage property and other acquisitions (138) (97)
Expenditures for corporate furniture, equipment and other (40) (209)
Proceeds from sale of self storage properties 5,091 0
Net Cash Used In Investing Activities (24,604) (63,575)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of subordinated performance units 7,000 0
Borrowings under debt financings 222,000 79,500
Receipts for OP unit subscriptions 6 265
Collection of receivables from issuance of OP equity 0 193
Principal payments under debt financings (205,757) (18,572)
Payment of dividends to common shareholders (10,564) (4,605)
Distributions to noncontrolling interests (12,942) (8,777)
Debt issuance costs (1,315) (113)
Equity offering costs (116) (7)
Net Cash (Used In) Provided By Financing Activities (1,688) 47,884
Increase in Cash, Cash Equivalents and Restricted Cash 1,913 2,001
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 15,337 9,377
End of period 17,250 11,378
Supplemental Cash Flow Information    
Cash paid for interest $ 7,131 $ 4,717