CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 35,480	$ 35,277
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	13,756	12,600
Stock-based compensation expense	2,081	1,449
Gain on sale of real estate, net		(1,140)
Income from unconsolidated joint ventures	(869)
Straight-line rental income	(4,453)	(1,247)
Amortization of lease inducement	735	330
Provision for doubtful accounts	432	38
Non-cash interest related to earn-out liabilities	109
Other non-cash items, net	445	415
(Increase) decrease in interest receivable	(1,532)	7
Decrease in accrued interest payable	18	26
Net change in other assets and liabilities	(2,243)	(2,518)
Net cash provided by operating activities	43,959	45,237
INVESTING ACTIVITIES:
Investment in real estate properties	(14,357)
Investment in real estate developments	(7,806)	(16,080)
Investment in real estate capital improvements	(5,949)	(11,448)
Capitalized interest	(297)	(742)
Proceeds from sale of real estate investments, net		7,707
Advances under mortgage loans receivable	(43,347)	(3,707)
Investment in real estate mortgages	(9,500)
Principal payments received on mortgage loans receivable	3,482	1,054
Investment in unconsolidated joint ventures	(20,143)
Advances under notes receivable	(1,254)	(89)
Principal payments received on notes receivable		72
Net cash used in investing activities	(99,171)	(23,233)
FINANCING ACTIVITIES:
Bank borrowings	82,000	21,000
Repayment of bank borrowings	(1,500)
Principal payments on senior unsecured notes	(4,167)	(4,167)
Principal payments on bonds payable		(635)
Stock option exercises	79	277
Distributions paid to stockholders	(37,883)	(37,140)
Financing costs paid	(165)	(46)
Other	(338)	(7)
Net cash (used in) provided by financing activities	38,026	(20,718)
(Decrease) increase in cash and cash equivalents	(17,186)	1,286
Cash and cash equivalents, beginning of period	25,237	6,778
Cash and cash equivalents, end of period	8,051	8,064
Supplemental disclosure of cash flow information:
Interest paid	7,145	$ 5,859
Non-cash investing and financing transactions:
Mortgage loan receivable applied against purchase price to acquire real estate (Note 2)	10,600
Reclassification of pre-development loans (Note 4)	$ 316