XML 50 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income $ 9,377 $ 2,703
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of interest in real estate assets (7,696)   
Impairment recovery - notes receivable    (229)
Bad debt expense (recoveries) (227) 8
Income (loss) from Advised Funds (44) 102
Cash receipts for related party fees 10 23
Depreciation and amortization 6,032 4,368
Amortization of deferred compensation 619 287
Decrease in tenant and accounts receivable 414 270
Increase in accounts receivable - related party (703) (1,246)
Decrease in other assets 491 (1,120)
Decrease in accounts payable and other liabilities (1,949) (1,081)
Net cash provided by operating activities 6,324 4,085
Cash flows from investing activities:    
Improvements to real estate, including leasing costs (1,679) (2,586)
Net cash paid for acquisition of investment properties (29,714)   
Additions to furniture, fixtures and equipment (26) (11)
Notes receivable collections (advances) (1,377) 1,101
Investments in and advances to Advised Funds (1,762) (1,135)
Distributions and payments from Advised Funds 3,718 75
Proceeds from sale of investment property 32,861   
Net cash provided by (used in) investing activities 2,021 (2,556)
Cash flows from financing activities:    
Proceeds from notes payable 48,050 11,600
Payments of notes payable (51,495) (8,243)
Payments for financing costs (9) (125)
Retirement of shares of common stock    (45)
Issuance costs (13)   
Common dividends paid (6,470) (4,662)
Net cash used in financing activities (9,937) (1,475)
Net increase (decrease) in cash and cash equivalents (1,592) 54
Cash and cash equivalents, beginning of period 2,992 1,050
Cash and cash equivalents, end of period 1,400 1,104
Supplemental schedule of cash flow information:    
Interest 4,684 5,142
Taxes 250 246
Deferred compensation recorded upon issuance of restricted shares of common stock 948 790
Reclassification of tenant and accounts receivable to notes receivable 119 101
Reclassification of accounts receivable - related party to notes receivable - related party $ 448 $ 668