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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 28,914,000 $ 27,037,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of lease costs 25,385,000 23,881,000
Amortization of deferred debt costs 811,000 760,000
Compensation costs of stock and option grants 903,000 851,000
Credit losses on operating lease receivables 951,000 2,300,000
(Increase) decrease in accounts receivable and accrued income 4,223,000 (7,915,000)
Additions to deferred leasing costs (1,001,000) (5,644,000)
Decrease in other assets 1,200,000 1,790,000
Increase in accounts payable, accrued expenses and other liabilities 3,743,000 3,881,000
Increase (decrease) in deferred income 1,488,000 (5,192,000)
Net cash provided by operating activities 66,617,000 41,749,000
Cash flows from investing activities:    
Payments to Acquire Other Real Estate [1],[2],[3] (9,011,000) 0
Additions to real estate investments (11,668,000) (10,763,000)
Additions to development and redevelopment projects (6,801,000) (28,164,000)
Net cash used in investing activities (27,480,000) (38,927,000)
Cash flows from financing activities:    
Repayments on notes payable (26,097,000) (30,293,000)
Proceeds from revolving credit facility 20,000,000 90,000,000
Repayments on revolving credit facility (15,500,000) (3,000,000)
Proceeds from construction loan 2,430,000 25,977,000
Additions to deferred debt costs (2,000) (101,000)
Proceeds from the issuance of:    
Common stock 5,820,000 5,016,000
Partnership units (1) (2) (3) [1],[2],[3] 1,160,000 734,000
Distributions to:    
Common stockholders (24,926,000) (24,639,000)
Noncontrolling interests (8,425,000) (8,368,000)
Net cash provided by (used in) financing activities (51,136,000) 49,730,000
Net increase (decrease) in cash and cash equivalents (11,999,000) 52,552,000
Cash and cash equivalents, beginning of period 26,856,000 13,905,000
Cash and cash equivalents, end of period 14,857,000 66,457,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 23,214,000 21,015,000
Increase (decrease) in accrued real estate investments and development costs 1,682,000 (8,769,000)
Twinbrook Quarter    
Supplemental disclosure of cash flow information:    
Limited partnership units issued 79,300  
Twinbrook Metro Station Leasehold Interest    
Supplemental disclosure of cash flow information:    
Limited partnership units issued 21,500  
Ashbrook Marketplace    
Supplemental disclosure of cash flow information:    
Limited partnership units issued 4,320  
Series D Cumulative Redeemable Preferred Stock    
Distributions to:    
Preferred stockholders (2,296,000) (2,296,000)
Series E Cumulative Redeemable Preferred Stock    
Distributions to:    
Preferred stockholders $ (3,300,000) $ (3,300,000)
[1] The 2021 acquisition of real estate and proceeds from the issuance of partnership units each excludes $21,500 in connection with the contribution of the Twinbrook Quarter leasehold interest in exchange for limited partnership units. See Notes 3 and 4 to the Consolidated Financial Statements.
[2] The 2021 acquisition of real estate and proceeds from the issuance of partnership units each excludes $4,320 in connection with the issuance of additional limited partnership units to B. F. Saul Real Estate Investment Trust as additional consideration pursuant to the terms of the 2016 contribution agreement, as amended, related to Ashbrook Marketplace. See Note 7 to the Consolidated Financial Statements.
[3] The 2021 acquisition of real estate and proceeds from the issuance of partnership units each excludes $79,300 in connection with the contribution of Twinbrook Quarter by the B. F. Saul Real Estate Investment Trust in exchange for limited partnership units that are currently held in escrow. See Notes 3 and 4 to the Consolidated Financial Statements.