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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
OPERATING ACTIVITIES      
Net income $ 23,492 $ 29,925 $ 42,755
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of buildings and tenant improvements 30,395 25,974 23,453
Amortization of leasing costs and in-place lease intangibles 9,518 11,347 11,875
Accrued straight-line rental revenue (2,731) (1,222) (1,091)
Amortization of leasing incentives and above or below-market rents (266) (195) (85)
Accrued straight-line ground rent expense 214 530 371
Bad debt expense 419 564 203
Noncash stock compensation 1,281 1,323 1,082
Impairment charges 1,619 110 355
Noncash interest expense 1,116 1,274 980
Noncash loss on extinguishment of debt 11 50 82
Gain on real estate dispositions (4,254) (8,087) (30,533)
Adjustment for Annapolis Junction purchase option [1] 4,489 0 0
Change in the fair value of interest rate derivatives 951 (1,127) 941
Equity in income of unconsolidated real estate entities (372) 0 0
Changes in operating assets and liabilities:      
Property assets (3,539) (2,415) (2,964)
Property liabilities 1,709 2,793 3,979
Construction assets 7,554 17,573 (6,385)
Construction liabilities (15,248) (20,110) 15,189
Interest receivable (271) (7,071) (3,222)
Net cash provided by operating activities 56,087 51,236 56,985
INVESTING ACTIVITIES      
Development of real estate investments (133,791) (45,730) (57,425)
Tenant and building improvements (11,723) (12,252) (6,698)
Acquisitions of real estate investments, net of cash received (57,544) (30,026) (195,645)
Dispositions of real estate investments, net of selling costs 34,673 12,557 96,670
Notes receivable issuances (58,208) (16,219) (48,499)
Notes receivable paydowns 1,165 0 0
Leasing costs (4,607) (2,235) (2,374)
Leasing incentives (108) (274) (236)
Contributions to equity method investments (10,420) (1,176) (8,824)
Net cash used for investing activities (240,563) (95,355) (223,031)
FINANCING ACTIVITIES      
Proceeds from sales of common stock 66,457 96,044 68,475
Offering costs (1,213) (4,663) (1,453)
Common shares tendered for tax withholding (409) (289) (218)
Debt issuances, credit facility and construction loan borrowings 349,580 162,585 316,852
Debt and credit facility repayments, including principal amortization (173,855) (160,661) (186,533)
Debt issuance costs (1,457) (2,403) (1,796)
Redemption of operating partnership units (2,595) (5,155) (58)
Dividends and distributions (50,897) (43,616) (33,843)
Net cash provided by financing activities 185,611 41,842 161,426
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,135 (2,277) (4,620)
Cash, cash equivalents, and restricted cash, beginning of period [2] 22,916 25,193 29,813
Cash, cash equivalents, and restricted cash, end of period [2] 24,051 22,916 25,193
Supplemental cash flow information:      
Cash paid for interest (17,319) (16,318) (15,326)
Cash refunded (paid) for income taxes 555 (371) (121)
Increase in dividends payable 1,640 2,160 2,106
Common shares and OP units issued for acquisitions [3] (1,702) (506) (47,278)
Change in accrued capital improvements and development costs 18,310 10,899 (8,183)
Operating Partnership units redeemed for common shares 3,715 0 0
Debt principal extinguished in conjunction with real estate sales 0 5,594 6,400
Debt principal assumed in conjunction with real estate acquisitions 0 0 21,150
Redeemable noncontrolling interest from development 0 2,000 0
Deferred payment for land acquisition $ 0 $ 600 $ 0
[1] See Note 6 to the consolidated financial statements. Borrower paid $5.0 million in exchange for the Company's purchase option. Recognition of income was initially deferrred and is being recognized as additional interest income on the note receivable over the one-year remaining term.
[2] The following table sets forth the items from the Company's Consolidated Balance Sheets that are included in cash, cash equivalents, and restricted cash in the consolidated statements of cash flows: As of December 31 2018 2017Cash and cash equivalents$21,254 $19,959Restricted cash2,797 2,957Cash, cash equivalents, and restricted cash$24,051 $22,916
[3] 2017 issuance consists of OP Units contingently issuable upon the satisfaction of certain conditions relating to the Johns Hopkins Village property. These OP Units were issued in 2018.