XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 29,621 $ 25,614
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in fair value of derivatives 10 6
Gain on sale of property 0 (11)
Depreciation and amortization of deferred leasing costs 21,852 21,251
Amortization of deferred debt costs 663 754
Non cash compensation costs of stock grants and options 950 832
Provision for credit losses 816 660
(Increase) decrease in accounts receivable and accrued income 1,752 (960)
Additions to deferred leasing costs (2,443) (2,852)
Decrease in prepaid expenses 2,771 2,430
Increase in other assets (2,049) (769)
Increase in accounts payable, accrued expenses and other liabilities 2,050 2,139
Decrease in deferred income (2,451) (637)
Net cash provided by operating activities 53,542 48,457
Cash flows from investing activities:    
Acquisitions of real estate investments 0 (893)
Additions to real estate investments (8,661) (6,994)
Additions to development and redevelopment projects (17,771) (17,690)
Proceeds from sale of property 0 32
Net cash used in investing activities (26,432) (25,545)
Cash flows from financing activities:    
Proceeds from notes payable 0 46,000
Repayments on notes payable (12,154) (41,136)
Proceeds from revolving credit facility 11,000 4,000
Repayments on revolving credit facility (27,000) (25,000)
Proceeds from construction loan 17,772 12,140
Additions to deferred debt costs 0 (335)
Proceeds from the issuance of:    
Common stock 12,822 8,184
Partnership units 3,378 2,448
Distributions to:    
Series C preferred stockholders (6,188) (6,188)
Common stockholders (19,172) (17,456)
Noncontrolling interests (6,590) (5,983)
Net cash used in financing activities (26,132) (23,326)
Net increase (decrease) in cash and cash equivalents 978 (414)
Cash and cash equivalents, beginning of period 10,003 12,128
Cash and cash equivalents, end of period $ 10,981 $ 11,714