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Consolidated Statements Of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net income $ 13,973,000 $ 5,610,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sales (7,099,000) (59,000)
Impairment charges 9,850,000 6,270,000
Straight-line rents (787,000) 73,000
Provision for doubtful accounts 1,215,000 964,000
Depreciation and amortization 30,178,000 31,046,000
Amortization of intangible lease liabilities, net (1,900,000) (2,105,000)
Expense relating to share-based compensation, net 2,693,000 2,145,000
Amortization (including accelerated write-off) of deferred financing costs 1,040,000 1,214,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Rents and other receivables (3,112,000) (1,833,000)
Prepaid expenses and other (5,736,000) (4,549,000)
Accounts payable and accrued liabilities 1,827,000 1,791,000
Net cash provided by operating activities 42,142,000 40,567,000
INVESTING ACTIVITIES    
Acquisitions of real estate (32,442,000) (31,928,000)
Expenditures for real estate improvements (17,115,000) (10,487,000)
Net proceeds from sales of real estate 10,372,000 14,494,000
Construction escrows and other (303,000) 2,427,000
Net cash (used in) investing activities (39,488,000) (25,494,000)
FINANCING ACTIVITIES    
Repayments under revolving credit facility (134,500,000) (106,000,000)
Advances under revolving credit facility 157,500,000 158,000,000
Advances under term loans   100,000,000
Mortgage borrowing   50,000,000
Mortgage repayments (2,496,000) (189,437,000)
Payments of debt financing costs (2,498,000) (1,400,000)
Noncontrolling interests:    
Distributions to limited partners (53,000) (53,000)
Redemptions of OP Units (11,000) (8,000)
Net proceeds from sale of preferred stock 72,337,000  
Redemptions of preferred stock (112,510,000)  
Common stock sales less issuance expenses, net 43,164,000 (161,000)
Preferred stock dividends (11,113,000) (10,806,000)
Distributions to common shareholders (13,116,000) (12,783,000)
Net cash (used in) financing activities (3,296,000) (12,648,000)
Net (decrease) increase in cash and cash equivalents (642,000) 2,425,000
Cash and cash equivalents at beginning of period 2,882,000 2,083,000
Cash and cash equivalents at end of period $ 2,240,000 $ 4,508,000