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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
OPERATING ACTIVITIES:      
Net income $ 155,076,000 $ 87,340,000 $ 85,115,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 37,555,000 37,610,000 35,932,000
Stock-based compensation expense 5,870,000 5,249,000 4,280,000
Impairment charges   1,880,000 766,000
Gain on sale of real estate, net (70,682,000) (3,814,000) (3,582,000)
Income from unconsolidated joint ventures (2,864,000) (2,263,000) (1,138,000)
Income distributions from unconsolidated joint ventures 2,371,000 1,738,000 1,695,000
Insurance proceeds for damaged property 2,619,000    
Payment for remediation of damaged property (508,000)    
Straight-line rental income (9,550,000) (10,694,000) (13,477,000)
Lease incentives funded (1,272,000) (6,544,000) (4,827,000)
Amortization of lease incentives 2,092,000 2,209,000 1,955,000
Provision for doubtful accounts 87,000 (206,000) 457,000
Non-cash interest related to contingent liabilities 377,000 602,000 684,000
Non-cash income related to earn-out and related lease incentive write-off (3,074,000) (842,000) (16,000)
Other non-cash items, net 1,180,000 1,282,000 1,216,000
Increase in interest receivable (5,682,000) (5,367,000) (5,147,000)
(Decrease) increase in accrued interest payable (1,096,000) 601,000 701,000
Net change in other assets and liabilities 3,036,000 (3,476,000) 1,094,000
Net cash provided by operating activities 115,535,000 105,305,000 105,708,000
INVESTING ACTIVITIES:      
Investment in real estate properties (40,408,000) (82,405,000) (74,923,000)
Investment in real estate developments (35,279,000) (22,901,000) (42,342,000)
Investment in real estate capital improvements (3,249,000) (2,899,000) (6,792,000)
Capitalized interest (1,248,000) (908,000) (1,408,000)
Proceeds from sale of real estate, net 92,749,000 15,413,000 17,369,000
Investment in real estate mortgage loans receivable (21,364,000) (11,913,000) (20,685,000)
Principal payments received on mortgage loans receivable 2,136,000 17,863,000 8,278,000
Investments in unconsolidated joint ventures (670,000) (3,848,000) (1,770,000)
Payment of working capital reserve   (439,000) (2,756,000)
Advances and originations under notes receivable (124,000)   (14,969,000)
Principal payments received on notes receivable 3,848,000 25,000 100,000
Net cash used in investing activities (3,609,000) (92,012,000) (139,898,000)
FINANCING ACTIVITIES:      
Bank borrowings 116,200,000 113,000,000 123,600,000
Repayment of bank borrowings (100,700,000) (123,600,000) (137,000,000)
Proceeds from issuance of senior unsecured notes   100,000,000 77,500,000
Principal payments on senior unsecured notes (38,166,000) (31,167,000) (26,667,000)
Proceeds from common stock issued 1,005,000 14,578,000 78,592,000
Stock option exercises 123,000 202,000 159,000
Distributions paid to stockholders (90,372,000) (90,219,000) (84,568,000)
Contribution from non-controlling interests 3,963,000 3,488,000  
Distributions paid to non-controlling interests (65,000)    
Financing costs paid (3,162,000) (363,000) (147,000)
Other (1,201,000) (1,990,000) (2,230,000)
Net cash (used in) provided by financing activities (112,375,000) (16,071,000) 29,239,000
Decrease in cash, cash equivalents and restricted cash (449,000) (2,778,000) (4,951,000)
Cash, cash equivalents and restricted cash, beginning of period 5,213,000 7,991,000 12,942,000
Cash, cash equivalents and restricted cash, end of period 4,764,000 5,213,000 7,991,000
Supplemental disclosure of cash flow information:      
Interest paid $ 30,116,000 $ 28,070,000 $ 24,490,000