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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
OPERATING ACTIVITIES:          
Net income $ 68,936,000 $ 25,377,000 $ 89,295,000 $ 46,890,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization     18,712,000 18,667,000  
Stock-based compensation expense     2,897,000 2,684,000  
Impairment charges   1,880,000   1,880,000  
Gain on sale of real estate, net (48,345,000) (5,054,000) (48,345,000) (5,054,000)  
Income from unconsolidated joint ventures (726,000) (575,000) (1,357,000) (1,020,000)  
Income distributions from unconsolidated joint ventures     1,256,000 754,000  
Insurance proceeds for damaged property 2,619,000   2,619,000    
Payment for remediation of damaged property     (173,000)    
Straight-line rental income     (5,440,000) (5,307,000)  
Lease incentives funding     (1,017,000) (5,172,000)  
Amortization of lease incentives     1,091,000 1,111,000  
Provision for doubtful accounts (38,000) (5,000) (30,000) (43,000)  
Non-cash interest related to contingent liabilities     251,000 351,000  
Other non-cash items, net     663,000 637,000  
Increase in interest receivable     (2,814,000) (2,572,000)  
Decrease in accrued interest payable     (171,000) (132,000)  
Net change in other assets and liabilities     (1,966,000) (6,336,000)  
Net cash provided by operating activities     55,471,000 47,338,000  
INVESTING ACTIVITIES:          
Investment in real estate properties     (25,902,000) (54,740,000)  
Investment in real estate developments     (18,623,000) (9,155,000)  
Investment in real estate capital improvements     (1,763,000) (2,195,000)  
Capitalized interest     (552,000) (371,000)  
Proceeds from sale of real estate, net     64,386,000 14,106,000  
Investment in real estate mortgage loans receivable     (11,654,000) (7,829,000)  
Principal payments received on mortgage loans receivable     1,636,000 17,339,000  
Investments in unconsolidated joint ventures     (497,000) (3,734,000)  
Payment of working capital reserve       (439,000)  
Principal payments received on notes receivable     2,352,000 25,000  
Net cash provided by (used in) investing activities     9,383,000 (46,993,000)  
FINANCING ACTIVITIES:          
Bank borrowings     54,000,000 48,500,000  
Repayment of bank borrowings     (65,000,000) (110,600,000)  
Proceeds from issuance of senior unsecured notes       100,000,000  
Principal payments on senior unsecured notes     (4,166,000) (4,167,000)  
Proceeds from common stock issued       14,578,000  
Stock option exercises     123,000 79,000  
Distributions paid to stockholders     (45,168,000) (45,110,000)  
Contribution from non-controlling interests     1,081,000    
Financing costs paid     (3,051,000) (363,000)  
Other     (1,180,000) (1,954,000)  
Net cash (used in) provided by financing activities     (63,361,000) 963,000  
Increase in cash, cash equivalents and restricted cash     1,493,000 1,308,000  
Cash, cash equivalents and restricted cash, beginning of period     5,213,000 7,991,000 $ 7,991,000
Cash, cash equivalents and restricted cash, end of period $ 6,706,000 $ 9,299,000 6,706,000 9,299,000 $ 5,213,000
Supplemental disclosure of cash flow information:          
Interest paid     $ 14,994,000 $ 14,119,000