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CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
OPERATING ACTIVITIES    
Net Income $ 7,308 $ 5,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization from continuing operations 15,615 15,734
Depreciation and amortization from discontinued operations 0 212
Stock-based compensation expense 1,370 1,334
Gain on sales of land and real estate investments 0 167
Changes in operating assets and liabilities:    
Accrued income and other assets (44) 991
Accounts payable, accrued expenses and prepaid rent (6,910) (11,073)
Other (98) (133)
NET CASH PROVIDED BY OPERATING ACTIVITIES 17,241 12,420
INVESTING ACTIVITIES    
Real estate development (17,254) (12,584)
Purchases of real estate 0 (3,475)
Real estate improvements (4,577) (3,902)
Proceeds from sales of real estate investments 0 539
Repayments on mortgage loans receivable 26 3
Changes in accrued development costs 473 158
Changes in other assets and other liabilities (2,194) (2,478)
NET CASH USED IN INVESTING ACTIVITIES (23,526) (21,739)
FINANCING ACTIVITIES    
Proceeds from bank borrowings 66,325 63,895
Repayments on bank borrowings (50,890) (99,494)
Proceeds from mortgage notes payable 0 54,000
Principal payments on mortgage notes payable (6,106) (9,736)
Debt issuance costs (1,441) (793)
Distributions paid to stockholders (15,975) (14,908)
Proceeds from common stock offerings 13,798 16,284
Proceeds from dividend reinvestment plan 50 64
Other (710) 38
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,051 9,350
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,234) 31
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 1,258 174
CASH AND CASH EQUIVALENTS AT END OF PERIOD 24 205
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid for interest, net of amount capitalized of $1,291 and $1,042 for 2013 and 2012, respectively $ 8,257 $ 8,967