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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
OPERATING ACTIVITIES:      
Net income $ 51,327 $ 49,443 $ 46,053
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization-continuing and discontinued operations 22,153 19,623 16,109
Stock-based compensation expense 1,819 1,467 1,285
Gain on sale of assets, net (16)   (310)
Straight-line rental income-continuing and discontinued operations (3,264) [1] (3,728) [1] (3,822) [1]
(Recovery) provisions for doubtful accounts (101) (13) 2,010
Non-cash interest related to earn-out liabilities 439 464  
Other non-cash items, net 1,330 1,299 881
Decrease in interest receivable 535 56 95
Increase in accrued interest payable 1,923 681 573
Net change in other assets and liabilities 545 1,167 2,101
Net cash provided by operating activities 76,690 70,459 64,975
INVESTING ACTIVITIES:      
Investment in real estate properties, net (166,750) (100,294) (94,250)
Investment in real estate developments, net (9,957) (50)  
Investment in real estate capital improvements, net (1,132) (3,135) (5,824)
Proceeds from sale of real estate investments, net 1,271   4,864
Investment in real estate mortgages (7,719)   (1,694)
Principal payments received on mortgage loans receivable 21,633 5,967 8,403
Proceeds from redemption of marketable securities 6,500    
Advances under notes receivable (2,930) (232) (100)
Principal payments received on notes receivable 569 731 1,573
Net cash used in investing activities (158,515) (97,013) (87,028)
FINANCING ACTIVITIES:      
Bank borrowings 153,500 167,600 83,700
Repayment of bank borrowings (94,000) (149,300) (59,500)
Proceeds from issuance of senior unsecured notes 85,800 50,000 50,000
Principal payments on mortgage loan payable and bonds payable (565) (530) (8,180)
Debt issue costs (1,426) (2,286) (718)
Proceeds from common stock offering   103,631 67,793
Stock option exercises 1,926 120 182
Distributions paid to stockholders (57,785) (56,572) (53,902)
Redemption of preferred stock   (88,413) (59,065)
Redemption of non-controlling interests (2,764)    
Distributions paid to non-controlling interests (78) (191) (210)
Net cash provided by financing activities 84,608 24,059 20,100
Increase (decrease) in cash and cash equivalents 2,783 (2,495) (1,953)
Cash and cash equivalents, beginning of year 4,408 6,903 8,856
Cash and cash equivalents, end of year 7,191 4,408 6,903
Supplemental disclosure of cash flow information:      
Interest paid $ 7,452 $ 5,070 $ 1,745
[1] During 2012, 2011 and 2010, we recorded $131, $238, and $342, 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.