XML 23 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
OPERATING ACTIVITIES    
Net income $ 5,610,000 $ 14,941,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Impairment charges 6,270,000 953,000
Gain on sale (59,000)  
Straight-line rents 73,000 (379,000)
Provision for doubtful accounts 964,000 1,219,000
Depreciation and amortization 31,046,000 28,871,000
Amortization of intangible lease liabilities (2,105,000) (2,387,000)
Expense relating to share-based compensation, net 2,145,000 2,432,000
Amortization (including accelerated write-off) of deferred financing costs 1,214,000 1,237,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Rents and other receivables (1,833,000) (3,187,000)
Prepaid expenses and other (4,549,000) (3,711,000)
Accounts payable and accrued liabilities 1,791,000 (109,000)
Net cash provided by operating activities 40,567,000 39,880,000
INVESTING ACTIVITIES    
Acquisitions of real estate (31,928,000) (24,453,000)
Expenditures for real estate improvements (10,487,000) (7,339,000)
Net proceeds from sales of real estate 14,494,000 5,891,000
Construction escrows and other 2,427,000 2,089,000
Net cash used in investing activities (25,494,000) (23,812,000)
FINANCING ACTIVITIES    
Repayments under revolving credit facility (106,000,000) (174,000,000)
Advances under revolving credit facility 158,000,000 166,000,000
Advances under term loans 100,000,000 100,000,000
Mortgage borrowing 50,000,000  
Mortgage repayments (189,437,000) (113,586,000)
Payments of debt financing costs (1,400,000) (2,613,000)
Noncontrolling interests:    
Purchase of joint venture minority interests share   (11,216,000)
Distributions to limited partners (53,000) (60,000)
Redemptions of OP Units (8,000) (7,000)
Common stock sales less issuance expenses, net (161,000) 41,686,000
Preferred stock dividends (10,806,000) (10,806,000)
Distributions to common shareholders (12,783,000) (12,748,000)
Net cash used in financing activities (12,648,000) (17,350,000)
Net increase (decrease) in cash and cash equivalents 2,425,000 (1,282,000)
Cash and cash equivalents at beginning of period 2,083,000 3,499,000
Cash and cash equivalents at end of period $ 4,508,000 $ 2,217,000