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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net Income $ 17,215,000 $ 23,691,000 $ 51,551,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 23,008,000 22,198,000 20,975,000
Amortization of debt premium (225,000) (225,000) (312,000)
Stock-based compensation expense 481,000 427,000 399,000
Gain on property exchange   (8,742,000)  
Gain on divestiture of real property     (13,043,000)
Gains on purchase of minority interests in majority-owned LLCs     (25,409,000)
Changes in assets and liabilities:      
Rent receivable (1,204,000) (290,000) (555,000)
Accrued expenses and other liabilities 3,000 (184,000) (509,000)
Tenant reserves, deposits and prepaid rents 1,377,000 1,781,000 (303,000)
Accrued interest 122,000 (41,000) (62,000)
Leasing costs (627,000) (556,000) (787,000)
Other, net 583,000 119,000 851,000
Net cash provided by operating activities 40,733,000 38,178,000 32,796,000
Cash flows from investing activities:      
Investments in LLCs (5,454,000) (667,000) (1,337,000)
Repayments of advances made to LLCs 851,000 306,000  
Advances made to LLCs   (22,795,000)  
Cash distributions in excess of income from LLCs 1,362,000 224,000 1,029,000
Cash distribution of refinancing proceeds from LLCs   1,045,000 2,280,000
Additions to real estate investments, net (11,204,000) (5,257,000) (2,866,000)
Cash received for property exchange 0 2,000,000 17,300,000
Deposits on real estate assets   (150,000) (100,000)
Net cash paid for acquisition of properties (60,389,000) (16,765,000) (15,600,000)
Cash paid to acquire minority interests in majority-owned LLCs   (2,250,000) (4,744,000)
Net cash used in investing activities (74,834,000) (44,309,000) (4,038,000)
Cash flows from financing activities:      
Net borrowings on line of credit 59,350,000 52,400,000  
Net repayments on line of credit     (3,950,000)
Proceeds from mortgage notes payable   5,200,000  
Repayments of mortgage notes payable 3,230,000 17,826,000 12,327,000
Financing costs paid (307,000) (1,114,000)  
Dividends paid (35,138,000) (34,089,000) (32,718,000)
Partial settlement of dividends equivalent rights (30,000) (75,000) (94,000)
Issuance of shares of beneficial interest, net 13,492,000 1,668,000 19,274,000
Net cash provided by/(used in) financing activities 34,137,000 6,164,000 (29,815,000)
Increase/(decrease) in cash and cash equivalents 36,000 33,000 (1,057,000)
Increase in cash due to recording of LLCs on a consolidated/unconsolidated basis     1,581,000
Cash and cash equivalents, beginning of period 3,894,000 3,861,000 3,337,000
Cash and cash equivalents, end of period 3,930,000 3,894,000 3,861,000
Supplemental disclosures of cash flow information:      
Interest paid 8,895,000 8,025,000 8,268,000
Supplemental disclosures of non-cash transactions:      
Financing assumed in acquisition $ 7,499,000    
Property Exchange Transaction:      
Net assets acquired in property exchange   9,886,000  
Net assets relinquished in property exchange   $ (3,144,000)  
Consolidation Of Limited Liability Companies      
Supplemental disclosures of non-cash transactions:      
Net real estate investments     84,064,000
Cash and cash equivalents     1,581,000
Intangible assets     6,490,000
Rent receivable - other     388,000
Deferred charges and other assets, net     100,000
Investment in LLCs     (28,616,000)
Mortgage notes payable, non-recourse to us     (29,758,000)
Accrued interest     (116,000)
Accrued expenses and other liabilities     (1,245,000)
Tenant reserves, escrows, deposits and prepaid rents     (485,000)
Note payable to previous third-party member     (2,250,000)
Gains on purchases of minority interests in majority-owned LLCs     (25,409,000)
Cash paid for purchase of minority interests in majority-owned LLCs     $ 4,744,000