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Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
OPERATING ACTIVITIES    
Net income $ 6,554,005 $ 4,683,581
Adjustments to reconcile net income to net cash from operating activities    
Gain on sale of property and equipment (114,307) (366,990)
Loss on sale of property and equipment 87,971 66,921
Equity in income of unconsolidated affiliates (618,971) (22,347)
Depreciation 7,154,638 6,607,536
Amortization 1,140,887 785,989
Effects on operating cash flows due to changes in    
Tenant security deposits (104,339) (117,124)
Due from related party 114,049 65,892
Receivables (332,330) (301,991)
Prepaid expenses 570,260 400,509
Other assets 582,800 (748,935)
Due to related party 76,340 (128,202)
Tenant security deposits payable 169,014 162,175
Accounts payable 97,441 (123,247)
Accrued expenses 2,396,425 2,082,994
NET CASH FROM OPERATING ACTIVITIES 17,773,883 13,046,761
INVESTING ACTIVITIES    
Purchase of property and equipment (9,618,113) (4,867,970)
Purchase of intangible assets (683,836) (1,483,434)
Proceeds from sale of property and equipment 932,513 2,819,355
Investment in unconsolidated affiliates (80,726) (284,335)
Distributions received from unconsolidated affiliates 794,700 7,000
Real estate tax and insurance escrows (3,011,389) (1,911,266)
Notes receivable payments received 1,580,290 39,301
Notes receivable issued for tenant improvements    (33,000)
Payments for earnest money deposits (150,000)  
Deferred insurance proceeds 301 395,750
Net deposits to replacement reserve (9,513) (137,263)
Net payments from exchange escrow    2,312,927
NET CASH (USED FOR) INVESTING ACTIVITIES (10,245,773) (3,142,935)
FINANCING ACTIVITIES    
Payments for financing costs (164,037) (719,349)
Payments on investment certificates (72,001) (823,089)
Principal payments on special assessments payable (662)   
Proceeds from issuance of mortgage notes payable 5,346,337 7,603,199
Principal payments on mortgage notes payable (14,581,245) (11,362,049)
Net change in short-term notes payable (3,950,000)  
Proceeds from issuance of shares 18,266,125 2,075,445
Repurchase of shares (3,658,636) (1,847,406)
Dividends paid (7,679,526) (6,974,635)
Payment of syndication costs (1,158,404) (510,634)
NET CASH FLOWS (USED FOR) FINANCING ACTIVITIES (7,652,049) (12,558,518)
NET CHANGE IN CASH AND CASH EQUIVALENTS (123,939) (2,654,692)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,192,785 10,010,564
CASH AND CASH EQUIVALENTS AT END OF PERIOD 3,068,846 7,355,872
SCHEDULE OF CASH FLOW INFORMATION    
Cash paid during the period for interest, net of capitalized interest 8,883,142 8,949,256
SUPPLEMENTARY SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends reinvested 1,661,236 1,385,267
Dividends declared and not paid 1,050,398 759,762
UPREIT distributions declared and not paid 2,285,387 2,172,538
UPREIT units converted to REIT common shares 1,590,961 806,449
Acquisition of assets in exchange for the issuance of noncontrolling interest shares in UPREIT 4,058,618 7,109,332
Increase in land improvements due to increase in special assessments payable 315,607 77,337
Unrealized (gain) loss on interest rate swap 64,364 246,176
Acquisition of assets with reduction of notes receivable    89,349
Acquisition of assets through assumption of debt and property purchased with financing $ 5,070,054 $ 10,972,257