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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 17,491 $ 12,795
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of lease costs 12,327 12,748
Amortization of deferred debt costs 477 405
Compensation costs of stock and option grants 286 323
Credit losses on operating lease receivables 25 1,211
Decrease in accounts receivable and accrued income 2,277 1,061
Additions to deferred leasing costs (496) (508)
Decrease in other assets 2,519 831
Increase in accounts payable, accrued expenses and other liabilities 6,425 4,356
Increase (decrease) in deferred income (1,321) 1,519
Increase in finance lease liability 0 37
Net cash provided by operating activities 40,010 34,778
Cash flows from investing activities:    
Acquisition of real estate investments [1] 0 (8,399)
Additions to real estate investments (3,941) (6,069)
Additions to development and redevelopment projects (12,927) (4,450)
Net cash used in investing activities (16,868) (18,918)
Cash flows from financing activities:    
Repayments on notes payable (36,473) (13,553)
Repayments on revolving credit facility (8,000) (8,500)
Proceeds from construction loan 0 1,919
Additions to deferred debt costs (3,194) 0
Proceeds from the issuance of:    
Common stock 3,257 2,840
Partnership units [1] 653 575
Distributions to:    
Common stockholders (13,583) (12,438)
Noncontrolling interests (5,284) (4,207)
Net cash used in financing activities (25,423) (28,162)
Net decrease in cash and cash equivalents (2,281) (12,302)
Cash and cash equivalents, beginning of period 14,594 26,856
Cash and cash equivalents, end of period 12,313 14,554
Supplemental disclosure of cash flow information:    
Cash paid for interest 9,737 11,689
Increase (decrease) in accrued real estate investments and development costs 6,189 (1,276)
Revolving Credit Facility    
Cash flows from financing activities:    
Proceeds from revolving credit facility 40,000 8,000
Series D Cumulative Redeemable Preferred Stock    
Distributions to:    
Preferred stockholders (1,149) (1,148)
Series E Cumulative Redeemable Preferred Stock    
Distributions to:    
Preferred stockholders $ (1,650) $ (1,650)
[1] The 2021 acquisition of real estate and proceeds from the issuance of partnership units each excludes $79,300 in connection with the contribution of Twinbrook Quarter by the B. F. Saul Real Estate Investment Trust in exchange for limited partnership units held in escrow. Half of the units held in escrow were released on October 18, 2021. The remaining units held in escrow are scheduled to be released on October 18, 2023.