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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 1,425 $ 4,480
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 24,748 25,937
Amortization of above and below market leases (85) (168)
Hedge ineffectiveness   (22)
(Gain) loss on sale of properties and properties held for sale, less applicable income tax   (2,289)
Equity in losses of non-consolidated REITs 105 397
Increase in allowance for doubtful accounts 75  
Changes in operating assets and liabilities:    
Tenant rent receivables (363) (672)
Straight-line rents 40 (1,082)
Lease acquisition costs (276) (292)
Prepaid expenses and other assets (274) 1
Accounts payable, accrued expenses and other items (6,911) (10,219)
Accrued compensation (2,529) (2,525)
Tenant security deposits 205 86
Payment of deferred leasing commissions (1,082) (1,606)
Net cash provided by operating activities 15,078 12,026
Cash flows from investing activities:    
Property improvements, fixtures and equipment (10,774) (11,615)
Distributions in excess of earnings from non-consolidated REITs 355 346
Repayment of related party mortgage receivable 265 265
Proceeds received on sales of real estate assets   6,160
Net cash used in investing activities (10,154) (4,844)
Cash flows from financing activities:    
Distributions to stockholders (20,374) (20,374)
Borrowings under bank note payable 30,000 30,000
Repayments of bank note payable (10,000) (15,000)
Deferred financing costs (14)  
Net cash used in financing activities (388) (5,374)
Net increase in cash, cash equivalents and restricted cash 4,536 1,808
Cash, cash equivalents and restricted cash, beginning of year 9,819 9,366
Cash, cash equivalents and restricted cash, end of period 14,355 11,174
Cash and cash equivalents, end of period 14,355 11,143
Cash paid for:    
Interest 7,143 7,211
Taxes 69 152
Non-cash investing and financing activities:    
Accrued costs for purchase of real estate assets $ 4,339 $ 8,719