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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
May 31, 2018
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Cash flows from operating activities:            
Net income   $ 16,702 $ 14,385 $ 47,550 $ 46,180  
Adjustments to reconcile net income to net cash provided by operating activities:            
Change in fair value of derivatives   (10) 1 2 2  
Gain on sale of property   0 0 (509) 0  
Depreciation and amortization of deferred leasing costs   11,256 11,363 33,956 34,396  
Amortization of deferred debt costs   377 351 1,224 1,043  
Compensation costs of stock grants and options       1,434 1,349  
Provision for credit losses       530 602  
Increase in accounts receivable and accrued income       (1,846) (2,901)  
Additions to deferred leasing costs       (4,195) (3,654)  
Increase in prepaid expenses       (3,767) (3,947)  
(Increase) decrease in other assets       1,171 (817)  
Increase in accounts payable, accrued expenses and other liabilities       2,681 2,991  
Decrease in deferred income       (3,358) (801)  
Net cash provided by operating activities       74,873 74,443  
Cash flows from investing activities:            
Acquisitions of real estate investments (1) [1]       (36,346) (79,499)  
Additions to real estate investments       (6,586) (12,389)  
Additions to development and redevelopment projects       (54,693) (14,286)  
Repayment of note receivable       1,326 0  
Proceeds from sale of property [2]       0 6,688  
Net cash used in investing activities       (96,299) (99,486)  
Cash flows from financing activities:            
Proceeds from notes payable       0 40,000  
Repayments on notes payable       (36,577) (20,303)  
Proceeds from term loan facility       75,000 0  
Proceeds from revolving credit facility       102,000 55,000  
Repayments on revolving credit facility       (86,000) (15,000)  
Proceeds from construction loan       2,949 1,437  
Additions to deferred debt costs       (2,493) (2,069)  
Proceeds from the issuance of:            
Common stock       19,336 15,303  
Partnership units [1]       4,699 5,798  
Preferred stock redemption costs       (13) 0  
Distributions to:            
Common stockholders       (34,613) (33,350)  
Noncontrolling interests       (11,919) (11,429)  
Net cash provided by financing activities       20,289 26,106  
Net increase (decrease) in cash and cash equivalents       (1,137) 1,063  
Cash and cash equivalents, beginning of period       10,908 8,322 $ 8,322
Cash and cash equivalents, end of period   9,771 9,385 9,771 9,385 $ 10,908
Supplemental disclosure of cash flow information:            
Cash paid for interest       32,697 34,394  
Increase in accrued real estate investments and development costs       6,880 992  
Series D Cumulative Redeemable Preferred Stock            
Proceeds from the issuance of:            
Series D preferred stock       72,369 0  
Distributions to:            
Preferred stockholders       (2,016) 0  
Series C Cumulative Preferred Stock            
Proceeds from the issuance of:            
Series C preferred stock redemption payment       (75,000) 0  
Distributions to:            
Preferred stockholders       (7,433) (9,281)  
Ashbrook Marketplace            
Supplemental disclosure of cash flow information:            
Additions to real estate investments, noncash $ 8,800     8,776    
Great Eastern Shopping Center            
Supplemental disclosure of cash flow information:            
Second trust financing   $ 1,275 $ 1,280 $ 1,275 $ 1,280  
[1] The 2018 acquisition of real estate and proceeds from the issuance of partnership units each excludes $8,776 in connection with the acquisition of Ashbrook Marketplace in exchange for limited partnership units.
[2] Proceeds from sale of property excludes $1,275 of seller financing in connection with the sale of the Company's Great Eastern property.