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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net income $ 12,951 $ 7,352
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization (including amortization of deferred financing costs) 3,403 2,616
Amortization of lease intangibles 2,054 1,178
Straight-line of rental income (177) (1,446)
Loan discount accretion (716) (2,833)
Income from preferred equity investments (202)  
Distributions of income from preferred equity investments 94 97
Income of equity investments (7,869) (424)
Distributions of income from equity investments 7,822 2,764
Restricted cash held in escrows 1,509 (204)
Loss (gain) on sale of securities carried at fair value 102 (26)
Unrealized gain on securities carried at fair value (1,718) (4,932)
Unrealized gain on loan securities carried at fair value   (164)
Tenant leasing costs (156) (671)
Gain on sale of real estate investments (2,775)  
Equity compensation expenses 43  
Bad debt (recovery) expense 84 (127)
Net change in interest receivable 184 (7)
Net change in accounts receivable (903) (452)
Net change in accounts payable and accrued liabilities (4,546) (348)
Net cash provided by operating activities 9,184 2,373
Cash flows from investing activities    
Investments in real estate (396) (2,469)
Investment in equity investments (13) (23,835)
Proceeds from sale of investments in real estate 11,425  
Proceeds from sale of equity investments 26 250
Return of capital distribution from equity investments 669 38,100
Purchase of securities carried at fair value   (4,188)
Proceeds from sale of securities carried at fair value 9,090 4,302
Restricted cash held in escrows 716 (4,421)
Issuance and acquisition of loans receivable (21,437) (2,521)
Collection of loans receivable 24,287 357
Proceeds from sale of loans receivable 19,318  
Cash from consolidation of properties 473  
Net cash provided by investing activities 44,158 5,575
Cash flows from financing activities    
Proceeds from mortgage loans payable   743
Principal payments of mortgage loans payable (1,643) (1,426)
Payment of secured financing (10,117)  
Proceeds from issuance of Series D Preferred Shares   77,772
Payment of revolving line of credit   (40,000)
Restricted cash held in escrows (2,797) (10)
Deferred financing costs (228) (9)
Contribution from non-controlling interest 535 218
Distribution to non-controlling interest   (101)
Purchase of non-controlling interests (75) (400)
Issuance of Common Shares under Dividend Reinvestment Plan 115 133
Dividend paid on Common Shares (5,366) (5,369)
Dividend paid on Series D Preferred Shares   (925)
Net cash (used in) provided by financing activities (19,576) 30,626
Net increase in cash and cash equivalents 33,766 38,574
Cash and cash equivalents at beginning of period 97,682 40,952
Cash and cash equivalents at end of period 131,448 79,526
Supplemental Disclosure of Cash Flow Information    
Interest paid 5,897 3,721
Taxes paid 68 161
Supplemental Disclosure on Non-Cash Investing and Financing Activities    
Dividends accrued on Common Shares 5,367 5,371
Dividends accrued on Series D Preferred Shares 2,787  
Capital expenditures accrued 4,117 1,583
Transfer from loans receivable   (2,938)
Transfer from preferred equity   (3,923)
Transfer to equity investment   6,861
Fair value of Assets Acquired 62,208  
Fair value of Liabilities Assumed $ 62,198