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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 69,026 $ 65,392 $ 61,649
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss on early extinguishment of debt 0 648 0
Depreciation and amortization of deferred leasing costs 48,430 48,969 50,272
Amortization of deferred debt costs 2,250 1,985 1,710
Non cash compensation costs of stock grants and options 1,421 1,521 1,562
Credit losses (recoveries) on operating lease receivables 534 (88) 812
(Increase) decrease in accounts receivable and accrued income (243) 2,424 5,446
Additions to deferred leasing costs (5,607) (2,716) (1,814)
(Increase) decrease in other assets 453 4,511 (2,820)
Increase (decrease) in accounts payable, accrued expenses and other liabilities 1,884 524 (285)
Increase (decrease) in deferred income (421) (2,019) 1,895
Net cash provided by operating activities 117,727 121,151 118,427
Cash flows from investing activities:      
Acquisitions of real estate investments [1],[2],[3] 0 0 (9,011)
Additions to real estate investments (26,196) (15,781) (21,023)
Additions to development and redevelopment projects (177,485) (101,107) (25,884)
Net cash used in investing activities (203,681) (116,888) (55,918)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 15,300 199,750 0
Repayments on mortgage notes payable (42,332) (174,096) (42,641)
Proceeds from term loan facility 0 0 25,000
Proceeds from revolving credit facility 160,000 155,000 46,000
Repayments on revolving credit facility (48,000) (97,000) (44,500)
Proceeds from construction loans payable 82,635 0 10,917
Payments of debt extinguishment costs 0 (593) 0
Additions to deferred debt costs (404) (9,869) (6,393)
Proceeds from the issuance of:      
Common stock 2,238 8,173 14,425
Partnership units [1],[2],[3] 1,505 1,322 2,398
Distributions to:      
Distributions to preferred stockholders (11,194) (11,194) (11,194)
Common stockholders (56,722) (55,523) (50,963)
Noncontrolling interests (21,944) (21,548) (17,821)
Net cash provided by (used in) financing activities 81,082 (5,578) (74,771)
Net decrease in cash and cash equivalents (4,872) (1,315) (12,262)
Cash and cash equivalents, beginning of year 13,279 14,594 26,856
Cash and cash equivalents, end of year 8,407 13,279 14,594
Supplemental disclosure of cash flow information:      
Cash paid for interest 46,083 40,725 44,575
Accrued capital expenditures included in accounts payable, accrued expenses, and other liabilities 31,166 19,006 5,906
Series D Cumulative Redeemable Preferred Stock      
Distributions to:      
Distributions to preferred stockholders (4,594) (4,594) (4,593)
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 $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.
[2] 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.
[3] 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.