XML 40 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flow from operating activities:    
Net income (loss) $ 3,852,000 $ (4,868,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Equity in income of unconsolidated joint venture   (445,000)
Distributions from unconsolidated joint venture   445,000
Impairment reversals, net (1,100,000) (1,138,000)
Gain on sales (346,000) (457,000)
Straight-line rents (501,000) (317,000)
Provision for doubtful accounts 493,000 350,000
Depreciation and amortization 9,822,000 15,747,000
Amortization of intangible lease liabilities (1,243,000) (1,259,000)
Expense and market price adjustments relating to share-based compensation, net 721,000 824,000
Amortization (including accelerated write-off) of deferred financing costs 721,000 3,241,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Rents and other receivables, net (1,954,000) (580,000)
Prepaid expenses and other 20,000 57,000
Accounts payable and accrued liabilities (663,000) (403,000)
Net cash provided by operating activities 9,822,000 11,197,000
Cash flow from investing activities:    
Expenditures for real estate improvements (4,582,000) (4,482,000)
Net proceeds from sales of real estate 3,320,000 9,208,000
Repayment of note receivable 1,100,000  
Distributions of capital from unconsolidated joint venture   1,663,000
Construction escrows and other 1,469,000 2,322,000
Net cash provided by investing activities 1,307,000 8,711,000
Cash flow from financing activities:    
Net advances/(repayments) under Credit Facility 9,200,000 (1,244,000)
Mortgage repayments (40,559,000) (7,129,000)
Payments of debt financing costs (35,000) (4,002,000)
Noncontrolling interests:    
Distributions to consolidated joint venture minority interests   (1,623,000)
Distributions to limited partners (14,000) (43,000)
Net proceeds from sales of common stock 1,000 (56,000)
Net proceeds from sales of preferred stock 59,849,000  
Redemption of preferred stock (34,992,000)  
Preferred stock dividends (3,623,000) (3,550,000)
Distributions to common shareholders (3,590,000) (3,526,000)
Net cash (used in) financing activities (13,763,000) (21,173,000)
Net (decrease) in cash and cash equivalents (2,634,000) (1,265,000)
Cash and cash equivalents at beginning of period 7,522,000 12,070,000
Cash and cash equivalents at end of period $ 4,888,000 $ 10,805,000