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Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Sep. 30, 2017
USD ($)
Sep. 30, 2016
USD ($)
Cash flows from operating activities:    
Net income $ 46,180 $ 42,344
Adjustments to reconcile net income to net cash provided by operating activities:    
Change in fair value of derivatives 2 9
Depreciation and amortization of deferred leasing costs 34,396 33,478
Amortization of deferred debt costs 1,043 1,003
Non cash compensation costs of stock grants and options 1,349 1,282
Provision for credit losses 602 1,207
Decrease in accounts receivable and accrued income (2,901) (3,018)
Additions to deferred leasing costs (3,654) (3,721)
Decrease in prepaid expenses (3,947) (3,922)
Increase in other assets (817) (1,358)
Increase in accounts payable, accrued expenses and other liabilities 2,991 3,294
Decrease in deferred income (801) (247)
Net cash provided by operating activities 74,443 70,351
Cash flows from investing activities:    
Acquisitions of real estate investments (79,499) (10,341)
Additions to real estate investments (12,389) (11,271)
Additions to development and redevelopment projects (14,286) (23,073)
Proceeds from sale of property (1) 6,688 [1] 0 [1]
Net cash used in investing activities (99,486) (44,685)
Cash flows from financing activities:    
Proceeds from notes payable 40,000 0
Repayments on notes payable (20,303) (18,359)
Proceeds from revolving credit facility 55,000 32,000
Repayments on revolving credit facility (15,000) (37,000)
Proceeds from construction loan 1,437 23,126
Additions to deferred debt costs (2,069) 0
Proceeds from the issuance of:    
Common stock 15,303 17,898
Partnership units 5,798 5,144
Distributions to:    
Series C preferred stockholders (9,281) (9,281)
Common stockholders (33,350) (29,306)
Noncontrolling interests (11,429) (10,055)
Net cash provided by (used in) financing activities 26,106 (25,833)
Net increase (decrease) in cash and cash equivalents 1,063 (167)
Cash and cash equivalents, beginning of period 8,322 10,003
Cash and cash equivalents, end of period 9,385 9,836
Supplemental disclosure of cash flow information:    
Cash paid for interest 36,889 34,835
Increase (decrease) in accrued real estate investments and development costs 992 $ (6,351)
Great Eastern Shopping Center    
Second trust financing $ 1,275  
[1] Proceeds from sale of property excludes $1,275 of seller financing in connection with the sale of the Company's Great Eastern property.