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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 26,983 $ 2,732
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred rent and amortization of intangible assets, liabilities and lease inducements (1,611) (1,433)
Depreciation and amortization 18,058 19,128
Gain on sale of real estate (24,739)  
Straight line rent, below-market ground lease and amortization of intangible assets 443 482
Amortization of deferred loan costs 826 739
Amortization of premiums and discounts on debt (211) (232)
Unrealized premium adjustment 253 258
Amortization and accretion on loans receivable, net (200) (489)
Bad debt expense (168) 651
Deferred income taxes 42 (30)
Stock-based compensation 32 366
Loans funded, held for sale to secondary market (10,043) (5,600)
Proceeds from sale of guaranteed loans 6,765 6,879
Principal collected on loans subject to secured borrowings 429 223
Other operating activity 1,246 134
Changes in operating assets and liabilities:    
Accounts receivable and interest receivable (1,397) (1,225)
Other assets (5,810) (9,690)
Accounts payable and accrued expenses 129 (2,081)
Deferred leasing costs (3,943) (1,588)
Other liabilities (109) (546)
Due to related parties 93 1,283
Net cash provided by operating activities 7,068 9,961
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to investments in real estate (7,368) (6,881)
Proceeds from sale of real estate property, net 42,782  
Loans funded (23,734) (21,803)
Principal collected on loans 2,361 6,888
Restricted cash (42,565) 1,985
Other investing activity 73 95
Net cash used in investing activities (28,451) (19,716)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of mortgages payable (1,068) (1,707)
Proceeds from unsecured revolving lines of credit, revolving credit facilities and term notes, net   35,000
Payment of principal on secured borrowings (429) (223)
Proceeds from secured borrowings 9,897  
Payment of deferred loan costs   (34)
Payment of dividends (21,365) (21,346)
Contributions from noncontrolling interests   110
Noncontrolling interests' distributions   (32)
Net cash (used in) provided by financing activities (12,965) 11,768
Change in cash balances included in assets held for sale 2,589 754
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (31,759) 2,767
CASH AND CASH EQUIVALENTS:    
Beginning of period 124,636 17,615
End of period 92,877 20,382
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for interest 6,205 5,174
Federal income taxes paid   30
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Additions to investments in real estate included in accounts payable and accrued expenses 7,663 5,483
Net decrease in fair value of derivatives applied to other comprehensive income (loss) (7,925)  
Reduction of loan receivable and secured borrowing due to the SBA's repurchase of the guaranteed portion of a loan $ 953  
Additions to deferred loan costs included in accounts payable and accrued expenses   $ 33