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Consolidated Statements Of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Cash flows from operating activities      
Net income $ 89,187 $ 111,601 $ 37,346
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of real estate 91,107 106,555 22,144
Depreciation and amortization, including amounts in discontinued operations 108,935 96,011 97,901
Provision for losses on accounts receivable 1,368 1,402 3,772
Real estate impairment 5,909 0 0
Share-based compensation expense 5,112 4,995 6,246
Amortization of debt premiums, discounts and related financing costs 3,486 3,588 4,158
Loss on extinguishment of debt, net 119 0 2,737
Changes in other assets (10,388) (23,306) (10,591)
Changes in other liabilities (5,266) (7,035) (6,107)
Net cash provided by operating activities 107,355 80,701 113,318
Cash flows from investing activities      
Real estate acquisitions, net (151,682) (194,536) (48,200)
Capital improvements to real estate (41,507) (57,810) (55,829)
Development in progress (31,203) (43,264) (15,826)
Net cash received from sale of real estate 137,014 190,864 313,765
Real estate deposits, net 0 0 (3,900)
Cash held in replacement reserve escrows (3,511) (1,417) 0
Non-real estate capital improvements (2,129) (1,719) (162)
Net cash (used in) provided by investing activities (93,018) (107,882) 189,848
Cash flows from financing activities      
Line of credit borrowings, net 55,000 50,000 0
Dividends paid (61,510) (80,277) (80,104)
Contributions from noncontrolling interests 5 9 401
Distributions to noncontrolling interests 0 (3,454) 0
Borrowing under construction loan 4,558 20,393 7,297
Principal payments – mortgage notes payable (4,512) (3,954) (58,679)
Proceeds from term loan 150,000 0 0
Payment of financing costs (5,095) (742) (843)
Net proceeds from equity offerings 5,215 30,690 0
Notes payable repayments (150,000) (100,000) (60,000)
Net cash used in financing activities (6,339) (87,335) (191,928)
Net increase (decrease) in cash and cash equivalents 7,998 (114,516) 111,238
Cash and cash equivalents at beginning of year 15,827 130,343 19,105
Cash and cash equivalents at end of year 23,825 15,827 130,343
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest expense 57,179 58,023 62,744
Cash paid for income taxes 261 156 54
Increase in accrued capital improvements and development costs (4,229) (4,154) (328)
Dividends payable 20,434 0 0
Mortgage notes payable assumed in connection with the acquisition of real estate $ 0 $ 100,861 $ 0