CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
OPERATING ACTIVITIES:
Net income	$ 17,004	$ 12,976
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,298	6,136
Stock-based compensation expense	666	985
Straight-line rental income	(639)	(937)
Provision for doubtful accounts	27	15
Non-cash interest related to earn-out liabilities		110
Other non-cash items, net	369	355
Decrease in accrued interest payable	(1,074)	(994)
Decrease (increase) in interest receivable	5	(24)
Net change in other assets and liabilities	(2,827)	(1,061)
Net cash provided by operating activities	19,829	17,561
INVESTING ACTIVITIES:
Investment in real estate properties under development	(6,157)	(3,952)
Investment in real estate capital improvements	(7,410)	(2,358)
Capitalized interest	(307)	(177)
Advances under mortgage loans receivable	(2,568)	(910)
Principal payments received on mortgage loans receivable	519	462
Advances under notes receivable		(63)
Principal payments received on notes receivable		114
Net cash used in investing activities	(15,923)	(6,884)
FINANCING ACTIVITIES:
Bank borrowings	20,000	2,000
Principal payments on senior unsecured notes	(4,167)
Principal payments on bonds payable	(635)	(600)
Proceeds from common stock offering		4,895
Stock option exercises	238	523
Distributions paid to stockholders	(18,560)	(15,035)
Distributions paid to non-controlling interests		(7)
Financing costs paid	(11)
Other	(7)	(23)
Net cash used in financing activities	(3,142)	(8,247)
Increase in cash and cash equivalents	764	2,430
Cash and cash equivalents, beginning of period	6,778	7,191
Cash and cash equivalents, end of period	7,542	9,621
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid	$ 4,375	$ 4,118