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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 63,059 $ 60,668 $ 56,720
Adjustments to reconcile net income to net cash provided by operating activities:      
Change in fair value of derivatives 3 (70) 6
Gains on sales of properties (509) 0 (1,013)
Depreciation and amortization of deferred leasing costs 45,861 45,694 44,417
Amortization of deferred debt costs 1,610 1,392 1,343
Non cash compensation costs of stock grants and options 1,766 1,672 1,603
Provision for credit losses 685 906 1,494
Increase in accounts receivable and accrued income (336) (1,643) (3,525)
Additions to deferred leasing costs (6,034) (4,615) (4,633)
Increase (decrease) in prepaid expenses 73 (294) (399)
(Increase) decrease in other assets 3,681 1,374 (6,368)
Increase in accounts payable, accrued expenses and other liabilities 225 1,125 921
Increase (decrease) in deferred income 255 (2,759) (1,476)
Net cash provided by operating activities 110,339 103,450 89,090
Cash flows from investing activities:      
Acquisitions of real estate investments [1] (40,836) (79,499) (48,250)
Additions to real estate investments (12,883) (17,653) (15,564)
Additions to development and redevelopment projects (76,257) (22,842) (27,231)
Proceeds from sale of properties [2] 1,326 6,688 4,771
Net cash used in investing activities (128,650) (113,306) (86,274)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 54,900 100,000 11,250
Repayments on mortgage notes payable (72,572) (55,679) (24,653)
Proceeds from term loan facility 75,000 0 0
Proceeds from revolving credit facility 102,000 63,000 78,500
Repayments on revolving credit facility (116,000) (51,000) (57,500)
Proceeds from construction loans payable 23,332 1,437 24,937
Additions to deferred debt costs (3,233) (2,583) (125)
Proceeds from the issuance of:      
Common stock 30,503 22,751 21,564
Partnership units [1] 5,383 6,735 6,910
Preferred stock redemption costs (12) 0 0
Distributions to:      
Distributions to preferred stockholders (12,402) (12,375) (12,375)
Common stockholders (46,306) (44,576) (39,472)
Noncontrolling interests (15,981) (15,268) (13,533)
Net cash provided by (used in) financing activities 21,981 12,442 (4,497)
Net increase (decrease) in cash and cash equivalents 3,670 2,586 (1,681)
Cash and cash equivalents, beginning of year 10,908 8,322 10,003
Cash and cash equivalents, end of year 14,578 10,908 8,322
Supplemental disclosure of cash flow information:      
Cash paid for interest 43,561 45,713 44,066
Increase (decrease) in accrued real estate investments and development costs 9,663 2,097 (7,098)
Series D Cumulative Redeemable Preferred Stock      
Proceeds from the issuance of:      
Series D preferred stock 72,369 0 0
Distributions to:      
Distributions to preferred stockholders (3,164) 0 0
Series C Cumulative Preferred Stock      
Proceeds from the issuance of:      
Series C preferred stock redemption (75,000) 0 0
Distributions to:      
Distributions to preferred stockholders $ (9,238) (12,375) $ (12,375)
Great Eastern Shopping Center      
Supplemental disclosure of cash flow information:      
Seller financing   $ 1,275  
[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 sales of property in 2017 excludes $1,275 of seller financing in connection with the sale of the Company's Great Eastern property, which were received in 2018.