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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 38,846 $ 45,678
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in fair value of derivatives 12 6
Gain on sale of property (11) (6,069)
Depreciation and amortization of deferred leasing costs 32,382 30,745
Amortization of deferred debt costs 1,094 969
Non cash compensation costs of stock grants and options 1,136 977
Provision for credit losses 1,281 480
Increase in accounts receivable and accrued income (5,340) (3,282)
Additions to deferred leasing costs (4,125) (2,830)
Increase in prepaid expenses (4,022) (2,825)
(Increase) decrease in other assets 1,590 (355)
Increase in accounts payable, accrued expenses and other liabilities 1,816 4,172
Increase (decrease) in deferred income 67 (1,537)
Net cash provided by operating activities 64,726 66,129
Cash flows from investing activities:    
Acquisitions of real estate investments [1] (4,894) (48,545)
Additions to real estate investments (13,271) (11,174)
Additions to development and redevelopment projects (31,748) (10,193)
Proceeds from sale of property 32 6,679
Net cash used in investing activities (49,881) (63,233)
Cash flows from financing activities:    
Proceeds from notes payable [1] 46,000 0
Repayments on notes payable (47,007) (16,462)
Proceeds from revolving credit facility 15,000 41,000
Repayments on revolving credit facility (28,000) (11,000)
Proceeds from construction loan 26,022 1,859
Additions to deferred debt costs (311) (1,286)
Proceeds from the issuance of:    
Common stock 11,102 12,054
Partnership units 4,060 8,877
Distributions to:    
Common stockholders (26,538) (23,997)
Noncontrolling interest (9,098) (8,597)
Net cash used in financing activities (18,051) (7,171)
Net decrease in cash and cash equivalents (3,206) (4,275)
Cash and cash equivalents, beginning of period 12,128 17,297
Cash and cash equivalents, end of period 8,922 13,022
Series A Preferred Stock    
Distributions to:    
Preferred stockholders 0 (2,400)
Series C Preferred Stock    
Distributions to:    
Preferred stockholders $ (9,281) $ (7,219)
[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.