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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income $ 3,712 $ 1,989
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,816 6,333
Amortization of deferred loan costs 405 554
Amortization of notes payable discount 153 299
Gain on sale of marketable securities 0 41
Loss on sale or disposal of assets and properties (109) (48)
Bad debt expense 1,051 715
Share-based compensation 1,564 667
Changes in operating assets and liabilities:    
Escrows and acquisition deposits (324) 1,619
Accrued rent and accounts receivable (1,438) (966)
Unamortized lease commissions (570) (517)
Prepaid expenses and other assets 334 246
Accounts payable and accrued expenses (797) (2,990)
Tenants' security deposits 216 324
Net cash provided by operating activities 12,231 8,280
Cash flows from investing activities:    
Acquisitions of real estate 0 (58,403)
Additions to real estate (4,990) (2,476)
Proceeds from sales of marketable securities 0 747
Net cash used in investing activities (4,990) (60,132)
Cash flows from financing activities:    
Distributions paid to common shareholders (12,598) (9,639)
Distributions paid to OP unit holders (310) (363)
Proceeds from issuance of common shares, net of offering costs 5,267 0
Payments of exchange offer costs (6) (23)
Proceeds from notes payable 0 20,200
Proceeds from revolving credit facility, net 3,000 58,400
Repayments of notes payable (4,019) (15,844)
Payments of loan origination costs 0 (1,403)
Repurchase of common shares (24) 0
Net cash provided by (used in) financing activities (8,690) 51,328
Net decrease in cash and cash equivalents (1,449) (524)
Cash and cash equivalents at beginning of period 6,491 6,544
Cash and cash equivalents at end of period 5,042 6,020
Supplemental disclosure of cash flow information:    
Cash paid for interest 4,447 4,597
Cash paid for taxes 238 237
Non cash investing and financing activities:    
Disposal of fully depreciated real estate 2,560 185
Financed insurance premiums 888 883
Value of shares issued under dividend reinvestment plan 50 47
Accrued offering costs 0 13
Value of common shares exchanged for OP units 870 1,056
Change in fair value of available-for-sale securities 105 215
Change in fair value of cash flow hedge (297) 493
Debt assumed with acquisitions of real estate 0 11,100
Interest supplement assumed with acquisition of real estate $ 0 $ 932