Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income		$ 50,001	$ 45,799
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on early extinguishment of debt		648	0
Depreciation and amortization of lease costs		36,899	37,852
Amortization of deferred debt costs		1,428	1,237
Compensation costs of stock and option grants		1,220	1,197
Credit losses on operating lease receivables, net		(20)	802
(Increase) decrease in accounts receivable and accrued income		(3)	2,260
Additions to deferred leasing costs		(1,417)	(1,316)
Increase in other assets		(1,531)	(4,124)
Increase in accounts payable, accrued expenses and other liabilities		4,085	2,389
Increase in deferred income		699	2,923
Net cash provided by operating activities		92,009	89,019
Cash flows from investing activities:
Acquisition of real estate investments	[1],[2],[3]	0	(9,011)
Additions to real estate investments		(12,215)	(12,455)
Additions to development and redevelopment projects		(72,294)	(17,322)
Net cash used in investing activities		(84,509)	(38,788)
Cash flows from financing activities:
Proceeds from notes payable		199,750	0
Repayments on notes payable		(166,290)	(33,670)
Repayments on revolving credit facility		(97,000)	(42,500)
Proceeds from construction loan		0	2,430
Payments of debt extinguishment costs		(593)	0
Additions to deferred debt costs		(9,800)	(3,474)
Proceeds from the issuance of:
Common stock		7,629	8,717
Partnership units	[1],[2],[3]	1,322	1,775
Distributions to:
Common stockholders		(41,364)	(37,926)
Noncontrolling interests		(16,062)	(13,127)
Net cash used in financing activities		(11,803)	(65,170)
Net decrease in cash and cash equivalents		(4,303)	(14,939)
Cash and cash equivalents, beginning of period		14,594	26,856
Cash and cash equivalents, end of period		10,291	11,917
Supplemental disclosure of cash flow information:
Cash paid for interest		30,295	33,738
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities		13,955	3,780
Secured Debt
Cash flows from financing activities:
Proceeds from revolving credit facility		0	25,000
Revolving Credit Facility
Cash flows from financing activities:
Proceeds from revolving credit facility		119,000	36,000
Series D Cumulative Redeemable Preferred Stock
Distributions to:
Preferred stockholders		(3,445)	(3,445)
Series E Cumulative Redeemable Preferred Stock
Distributions to:
Preferred stockholders		$ (4,950)	$ (4,950)

[1] The 2021 acquisition of real estate and proceeds from the issuance of partnership units each excludes $21,500 in connection with the contribution of the Twinbrook Quarter leasehold interest in exchange for limited partnership units.

[2] The 2021 acquisition of real estate and proceeds from the issuance of partnership units each excludes $4,320 in connection with the issuance of additional limited partnership units to B. F. Saul Real Estate Investment Trust as additional consideration pursuant to the terms of the 2016 contribution agreement, as amended, related to Ashbrook Marketplace.The Notes to Financial Statements are an integral part of these statements.

[3] 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.