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Consolidated Statements Of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING ACTIVITIES    
Net income $ 11,945,000 $ 1,576,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales (7,099,000) (59,000)
Straight-line rents (241,000) 317,000
Provision for doubtful accounts 315,000 221,000
Depreciation and amortization 10,418,000 9,661,000
Amortization of intangible lease liabilities (639,000) (685,000)
Expense relating to share-based compensation, net 933,000 510,000
Amortization (including accelerated write-off) of deferred financing costs 359,000 397,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Rents and other receivables (3,048,000) (2,463,000)
Prepaid expenses and other (599,000) (814,000)
Accounts payable and accrued liabilities (1,077,000) 1,331,000
Net cash provided by operating activities 11,267,000 9,992,000
INVESTING ACTIVITIES    
Acquisitions of real estate (28,836,000) (12,090,000)
Expenditures for real estate improvements (3,235,000) (2,128,000)
Net proceeds from sales of real estate 10,372,000 14,494,000
Construction escrows and other 479,000 (257,000)
Net cash (used in) / provided by investing activities (21,220,000) 19,000
FINANCING ACTIVITIES    
Repayments under revolving credit facility (18,000,000) (18,000,000)
Advances under revolving credit facility 36,000,000 19,000,000
Mortgage repayments (834,000) (2,399,000)
Payments of debt financing costs   (1,078,000)
Noncontrolling interests:    
Distributions to limited partners (18,000) (18,000)
Common stock sales less issuance expenses, net 3,000 9,000
Preferred stock dividends (3,602,000) (3,602,000)
Distributions to common shareholders (4,271,000) (4,249,000)
Net cash provided by / (used in) financing activities 9,278,000 (10,337,000)
Net decrease in cash and cash equivalents (675,000) (326,000)
Cash and cash equivalents at beginning of period 2,882,000 2,083,000
Cash and cash equivalents at end of period $ 2,207,000 $ 1,757,000