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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Cash flows provided by (used in) operating activities:  
Net income $ 1,129
Reconciliation of net income to net cash provided by (used in) operating activities:  
Net realized gains on real estate securities 888
Change in net unrealized gains on real estate securities (155)
Amortization of premiums and accretion of discounts (net) (139)
(Increase) decrease in operating assets:  
Interest receivable (4)
Increase (decrease) in operating liabilities:  
Accrued expenses (299)
Management fees payable 3
Net cash used in operating activities (353)
Cash flows provided by (used in) investing activities:  
Purchases of real estate securities (3,331)
Proceeds from sale of real estate securities 5,309
Principal repayments of real estate securities 440
Net cash provided by investing activities 2,418
Cash flows provided by (used in) financing activities:  
Offering costs paid (128)
Cash used in financing activities (128)
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,937
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 18,161
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 20,098