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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
OPERATING ACTIVITIES:        
Net income $ 49,443 $ 46,053 $ 44,360  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization - continuing and discontinued operations 19,623 16,109 14,822  
Stock-based compensation expense 1,467 1,285 1,389  
Gain on sale of assets, net   (310)    
Straight-line rental income - continuing and discontinued operations (3,728) [1] (3,822) [1] (4,241) [1]  
Provisions for doubtful accounts - continuing and discontinued operations (13) 2,010 775  
Non-cash interest related to earn-out liabilities 464      
Other non-cash items, net 1,675 1,231 851  
Decrease in interest receivable 56 95 91  
Increase in prepaid, other assets and allowance (490) (310) (285)  
Increase (decrease) in accrued interest payable 681 573 (149)  
Increase in accrued expenses and other liabilities 1,657 2,411 2,727  
Net cash provided by operating activities 70,835 65,325 60,340  
INVESTING ACTIVITIES:        
Investment in real estate properties and capital improvements, net (103,855) (100,424) (16,984)  
Proceeds from sale of real estate investments, net   4,864    
Investment in real estate mortgages   (1,694) (221)  
Principal payments received on mortgage loans receivable 5,967 8,403 7,843 4,642
Advances under notes receivable (232) (100) (375)  
Principal payments received on notes receivable 731 1,573 671  
Net cash used in investing activities (97,389) (87,378) (9,066)  
FINANCING ACTIVITIES:        
Bank borrowings 167,600 83,700 19,000  
Repayment of bank borrowings (149,300) (59,500) (5,500)  
Proceeds from issuance of senior unsecured notes 50,000 50,000    
Principal payments on mortgage loan payable and bonds payable (530) (8,180) (24,843)  
Proceeds from common stock offering 103,631 67,793 766  
Repurchase of common stock     (16)  
Repurchase of preferred stock     (2,000)  
Redemption of preferred stock (88,413) (59,065)    
Distributions paid to stockholders (56,572) (53,902) (51,373)  
Distributions paid to non-controlling interests (191) (210) (305)  
Debt issue costs (2,286) (718) (35)  
Stock option exercises 120 182 770  
Net cash provided by (used in) financing activities 24,059 20,100 (63,536)  
Decrease in cash and cash equivalents (2,495) (1,953) (12,262)  
Cash and cash equivalents, beginning of year 6,903 8,856 21,118  
Cash and cash equivalents, end of year 4,408 6,903 8,856 21,118
Supplemental disclosure of cash flow information:        
Interest paid $ 5,025 $ 1,628 $ 2,177  
[1] During 2011, 2010 and 2009, we recorded $238, $342, and $443, respectively, in straight-line rental income from a lessee that qualifies as a related party because the lessee's Chief Executive Officer is on our Board of Directors. See Note 12. Transactions with Related Party for further discussion.