CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES:
Net income	$ 21,513	$ 19,858
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,359	8,561
Stock-based compensation expense	1,259	990
Income from unconsolidated joint ventures	(445)	(272)
Income distributions from unconsolidated joint ventures	356	268
Straight-line rental income	(2,867)	(2,835)
Amortization of lease incentive	527	518
(Recovery) provision for doubtful accounts	(38)	84
Non-cash interest related to contingent liabilities	226	149
Other non-cash items, net	314	291
Increase in interest receivable	(1,185)	(1,279)
Decrease in accrued interest payable	(416)	(1,122)
Net change in other assets and liabilities	(7,553)	(5,606)
Net cash provided by operating activities	21,050	19,605
INVESTING ACTIVITIES:
Investment in real estate properties		(16,000)
Investment in real estate developments	(3,443)	(13,439)
Investment in real estate capital improvements	(742)	(3,253)
Capitalized interest	(170)	(686)
Proceeds from sale of real estate, net		1,750
Investment in real estate mortgage loans receivable	(4,384)	(6,599)
Principal payments received on mortgage loans receivable	10,958	1,015
Investment in unconsolidated joint ventures	(914)
Payment of working capital reserve	(439)	(299)
Advances and originations under notes receivable		(93)
Principal payments received on notes receivable	25	30
Net cash provided by (used in) investing activities	891	(37,574)
FINANCING ACTIVITIES:
Bank borrowings	3,500	40,500
Repayment of bank borrowings	(110,600)
Proceeds from issuance of senior unsecured notes	100,000
Principal payments on senior unsecured notes	(4,167)	(4,167)
Proceeds from common stock issued	14,578	14,637
Distributions paid to stockholders	(22,552)	(20,347)
Financing costs paid	(301)
Other	(1,658)	(1,316)
Net cash (used in) provided by financing activities	(21,200)	29,307
Increase in cash and cash equivalents	741	11,338
Cash and cash equivalents, beginning of period	7,991	12,942
Cash and cash equivalents, end of period	8,732	24,280
Supplemental disclosure of cash flow information:
Interest paid	$ 7,574	$ 6,807