XML 28 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income $ 12,681us-gaap_ProfitLoss $ 12,711us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in fair value of derivatives 6us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet 2us-gaap_DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
Depreciation and amortization of deferred leasing costs 10,440us-gaap_DepreciationDepletionAndAmortization 10,180us-gaap_DepreciationDepletionAndAmortization
Amortization of deferred debt costs 362us-gaap_AmortizationOfFinancingCostsAndDiscounts 330us-gaap_AmortizationOfFinancingCostsAndDiscounts
Non cash compensation costs of stock grants and options 256us-gaap_ShareBasedCompensation 205us-gaap_ShareBasedCompensation
Provision for credit losses 246us-gaap_ProvisionForLoanLeaseAndOtherLosses 203us-gaap_ProvisionForLoanLeaseAndOtherLosses
Increase in accounts receivable and accrued income (1,144)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable (67)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable
Additions to deferred leasing costs (1,169)us-gaap_IncreaseDecreaseInDeferredLeasingFees (701)us-gaap_IncreaseDecreaseInDeferredLeasingFees
Decrease in prepaid expenses 587us-gaap_IncreaseDecreaseInPrepaidExpense 657us-gaap_IncreaseDecreaseInPrepaidExpense
Increase in other assets (730)us-gaap_IncreaseDecreaseInOtherOperatingAssets (1,374)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase in accounts payable, accrued expenses and other liabilities 2,064bfs_IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities 4,307bfs_IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities
Decrease in deferred income (406)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (2,528)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Net cash provided by operating activities 23,193us-gaap_NetCashProvidedByUsedInOperatingActivities 23,925us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Acquisitions of real estate investments (893)us-gaap_PaymentsToAcquireOtherRealEstate (8,000)us-gaap_PaymentsToAcquireOtherRealEstate
Additions to real estate investments (2,712)us-gaap_PaymentsToAcquireRealEstate (3,227)us-gaap_PaymentsToAcquireRealEstate
Additions to development and redevelopment projects (7,019)us-gaap_PaymentsToDevelopRealEstateAssets (2,661)us-gaap_PaymentsToDevelopRealEstateAssets
Net cash used in investing activities (10,624)us-gaap_NetCashProvidedByUsedInInvestingActivities (13,888)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Proceeds from notes payable 30,000us-gaap_ProceedsFromIssuanceOfSecuredDebt 0us-gaap_ProceedsFromIssuanceOfSecuredDebt
Repayments on notes payable (20,914)us-gaap_RepaymentsOfSecuredDebt (5,433)us-gaap_RepaymentsOfSecuredDebt
Proceeds from revolving credit facility 4,000us-gaap_ProceedsFromLinesOfCredit 6,000us-gaap_ProceedsFromLinesOfCredit
Repayments on revolving credit facility (21,000)us-gaap_RepaymentsOfLinesOfCredit (6,000)us-gaap_RepaymentsOfLinesOfCredit
Proceeds from construction loan 3,377us-gaap_ProceedsFromConstructionLoansPayable 0us-gaap_ProceedsFromConstructionLoansPayable
Additions to deferred debt costs (183)us-gaap_PaymentsOfDebtIssuanceCosts 0us-gaap_PaymentsOfDebtIssuanceCosts
Proceeds from the issuance of:    
Common stock 5,315us-gaap_ProceedsFromIssuanceOfCommonStock 2,718us-gaap_ProceedsFromIssuanceOfCommonStock
Partnership units 1,180us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits 4,184us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits
Distributions to:    
Common stockholders (8,379)us-gaap_PaymentsOfDividendsCommonStock (7,408)us-gaap_PaymentsOfDividendsCommonStock
Noncontrolling interest (2,879)us-gaap_PaymentsOfDividendsMinorityInterest (2,838)us-gaap_PaymentsOfDividendsMinorityInterest
Net cash used in financing activities (12,577)us-gaap_NetCashProvidedByUsedInFinancingActivities (11,983)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net decrease in cash and cash equivalents (8)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (1,946)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 12,128us-gaap_CashAndCashEquivalentsAtCarryingValue 17,297us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 12,120us-gaap_CashAndCashEquivalentsAtCarryingValue 15,351us-gaap_CashAndCashEquivalentsAtCarryingValue
Series A Preferred Stock    
Distributions to:    
Preferred stockholders 0us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesAPreferredStockMember		 (800)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesAPreferredStockMember
Series C Preferred Stock    
Distributions to:    
Preferred stockholders $ (3,094)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember		 $ (2,406)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
/ us-gaap_StatementClassOfStockAxis
= us-gaap_SeriesCPreferredStockMember