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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 65,392 $ 61,649 $ 50,316
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss on early extinguishment of debt 648 0 0
Gain on sale of property 0 0 (278)
Depreciation and amortization of deferred leasing costs 48,969 50,272 51,126
Amortization of deferred debt costs 1,985 1,710 1,570
Non cash compensation costs of stock grants and options 1,521 1,562 1,438
Credit losses (recoveries) on operating lease receivables (88) 812 5,212
(Increase) decrease in accounts receivable and accrued income 2,424 5,446 (17,818)
Additions to deferred leasing costs (2,716) (1,814) (8,050)
(Increase) decrease in other assets 4,511 (2,820) 5
Increase (decrease) in accounts payable, accrued expenses and other liabilities 524 (285) 861
Increase (decrease) in deferred income (2,019) 1,895 (6,013)
Net cash provided by operating activities 121,151 118,427 78,369
Cash flows from investing activities:      
Acquisitions of real estate investments [1],[2],[3] 0 (9,011) 0
Additions to real estate investments (15,781) (21,023) (20,547)
Additions to development and redevelopment projects (101,107) (25,884) (35,983)
Proceeds from sale of properties 0 0 376
Net cash used in investing activities (116,888) (55,918) (56,154)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 199,750 0 52,100
Repayments on mortgage notes payable (174,096) (42,641) (45,654)
Proceeds from term loan facility 0 25,000 0
Proceeds from revolving credit facility 155,000 46,000 90,000
Repayments on revolving credit facility (97,000) (44,500) (73,000)
Proceeds from construction loans payable 0 10,917 35,883
Payments of debt extinguishment costs (593) 0 0
Additions to deferred debt costs (9,869) (6,393) (1,206)
Proceeds from the issuance of:      
Common stock 8,173 14,425 8,264
Partnership units [1],[2],[3] 1,322 2,398 1,677
Distributions to:      
Distributions to preferred stockholders (11,194) (11,194) (11,194)
Common stockholders (55,523) (50,963) (49,383)
Noncontrolling interests (21,548) (17,821) (16,751)
Net cash used in financing activities (5,578) (74,771) (9,264)
Net increase (decrease) in cash and cash equivalents (1,315) (12,262) 12,951
Cash and cash equivalents, beginning of year 14,594 26,856 13,905
Cash and cash equivalents, end of year 13,279 14,594 26,856
Supplemental disclosure of cash flow information:      
Cash paid for interest 40,725 44,575 44,990
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities 19,006 5,906 4,327
Series D Cumulative Redeemable Preferred Stock      
Distributions to:      
Distributions to preferred stockholders (4,594) (4,593) (4,594)
Series E Cumulative Redeemable Preferred Stock      
Distributions to:      
Distributions to preferred stockholders $ (6,600) $ (6,600) $ (6,600)
[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.
[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, half of which units remain in escrow.