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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES    
Net income $ 5,258 $ 3,200
Adjustments to reconcile net income to net cash from operating activities    
(Gain) loss on sale of real estate investments   23
(Gain) loss on involuntary conversion (747) (28)
Loss on lease terminations   115
Equity in income of unconsolidated affiliates (157) (212)
Distributions of earnings of unconsolidated affiliates 157 212
Depreciation 4,767 4,705
Amortization 570 641
Amortization of debt issuance costs 166 184
Effects on operating cash flows due to changes in    
Due from related party 3 34
Receivables (675) (301)
Prepaid expenses (1,590) (806)
Other assets   7
Due to related party 22 (534)
Tenant security deposits payable 20 116
Accounts payable - trade (97) (127)
Accrued expenses and other liabilities (1,423) (727)
NET CASH PROVIDED BY OPERATING ACTIVITIES 6,274 6,502
INVESTING ACTIVITIES    
Purchase of real estate investment properties (2,979) (2,049)
Capital expenditures and tenant improvements (1,582) (2,212)
Proceeds from sale of real estate investments and non-real estate investments   42
Proceeds from involuntary conversion 152 1,576
Investment in unconsolidated affiliates   (20)
Distributions in excess of earnings received from unconsolidated affiliates 93 130
Notes receivable payments received   2
NET CASH USED IN INVESTING ACTIVITIES (4,316) (2,531)
FINANCING ACTIVITIES    
Payments for financing, debt issuance and lease costs (38) (232)
Principal payments on special assessments payable (12) (59)
Proceeds from issuance of mortgage notes payable and subordinated debt   13,223
Principal payments on mortgage notes payable (3,831) (2,877)
Advances on lines of credit 2,964  
Proceeds from issuance of shares under optional purchase plan 1,412 702
Shares/units redeemed (930) (419)
Dividends/distributions paid (5,063) (4,673)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (5,498) 5,665
NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED DEPOSITS (3,540) 9,636
CASH AND CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT BEGINNING OF PERIOD 20,553 19,270
CASH AND CASH EQUIVALENTS AND RESTRICTED DEPOSITS AT END OF PERIOD $ 17,013 $ 28,906