XML 29 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 45,678 $ 22,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in fair value of derivatives 6 (107)
Gain on sale of property (6,069) 0
Depreciation and amortization of deferred leasing costs 30,745 39,316
Amortization of deferred debt costs 969 934
Non cash compensation costs of stock grants and options 977 935
Provision for credit losses 480 740
Increase in accounts receivable and accrued income (3,282) (3,862)
Additions to deferred leasing costs (2,830) (4,560)
Increase in prepaid expenses (2,825) (3,544)
Increase in other assets (355) (1,158)
Increase (decrease) in accounts payable, accrued expenses and other liabilities 4,172 (1,670)
Decrease in deferred income (1,537) (1,248)
Net cash provided by operating activities 66,129 48,444
Cash flows from investing activities:    
Acquisitions of real estate investments (1) (48,545) [1] (4,250)
Additions to real estate investments (11,174) (10,303)
Additions to development and redevelopment projects (10,193) (5,554)
Proceeds from sale of property 6,679 0
Net cash used in investing activities (63,233) (20,107)
Cash flows from financing activities:    
Proceeds from notes payable 0 [1] 101,600
Repayments on notes payable (16,462) (65,956)
Proceeds from revolving credit facility 41,000 142,000
Repayments on revolving credit facility (11,000) (180,000)
Proceeds from construction loan 1,859 0
Additions to deferred debt costs (1,286) (1,465)
Proceeds from the issuance of:    
Common stock 12,054 19,800
Partnership units 8,877 0
Preferred stock redemption costs 0 (9)
Distributions to:    
Common stockholders (23,997) (21,815)
Noncontrolling interest (8,597) (7,467)
Net cash used in financing activities (7,171) (28,774)
Net decrease in cash and cash equivalents (4,275) (437)
Cash and cash equivalents, beginning of period 17,297 12,133
Cash and cash equivalents, end of period 13,022 11,696
Series C Preferred Stock
   
Proceeds from the issuance of:    
Series C preferred stock 0 135,221
Distributions to:    
Preferred stockholders (7,219) (3,689)
Series A Preferred Stock
   
Proceeds from the issuance of:    
Preferred stock redemption payments 0 (60,000)
Distributions to:    
Preferred stockholders (2,400) (4,413)
Series B Preferred Stock
   
Proceeds from the issuance of:    
Preferred stock redemption payments 0 (79,328)
Distributions to:    
Preferred stockholders $ 0 $ (3,253)
[1] The 2014 acquisition of real estate and proceeds from notes payable each exclude $11,000 in connection with the sale and leaseback of the Company's Olney property.