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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||||||||||
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Sep. 30, 2012
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Sep. 30, 2011
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Sep. 30, 2012
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Sep. 30, 2011
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| Operating revenues | ||||||||||||
| Rental income | $ 12,878 | $ 11,085 | $ 37,214 | $ 32,249 | ||||||||
| Tenant recovery revenue | 92 | 88 | 264 | 259 | ||||||||
| Total operating revenues | 12,970 | 11,173 | 37,478 | 32,508 | ||||||||
| Operating expenses | ||||||||||||
| Depreciation and amortization | 4,276 | 3,629 | 12,172 | 10,473 | ||||||||
| Property operating expenses | 345 | 251 | 1,031 | 750 | ||||||||
| Due diligence expense | 117 | 201 | 805 | 194 | ||||||||
| Base management fee (1) | 355 | [1] | 430 | [1] | 1,120 | [1] | 1,217 | [1],[2] | ||||
| Incentive fee (1) | 927 | [1] | 877 | [1] | 2,614 | [1] | 2,549 | [1] | ||||
| Administration fee (1) | 272 | [1] | 242 | [1] | 846 | [1] | 759 | [1] | ||||
| General and administrative | 343 | 381 | 1,130 | 1,193 | ||||||||
| Total operating expenses before credits from Adviser | 6,635 | 6,011 | 19,718 | 17,135 | ||||||||
| Credit to incentive fee (1) | (535) | [1] | (828) | [1] | (1,794) | [1] | (1,759) | [1] | ||||
| Total operating expenses | 6,100 | 5,183 | 17,924 | 15,376 | ||||||||
| Other income (expense) | ||||||||||||
| Interest expense | (5,229) | (4,251) | (14,687) | (12,607) | ||||||||
| Distributions attributable to mandatorily redeemable preferred stock | (686) | (1,829) | ||||||||||
| Other income | 37 | 9 | 109 | 73 | ||||||||
| Total other expense | (5,878) | (4,242) | (16,407) | (12,534) | ||||||||
| Net income | 992 | 1,748 | 3,147 | 4,598 | ||||||||
| Distributions attributable to preferred stock | (1,023) | (1,023) | (3,070) | (3,070) | ||||||||
| Distributions attributable to senior common stock | (30) | (16) | (71) | (46) | ||||||||
| Net (loss) income available to common stockholders | $ (61) | $ 709 | $ 6 | $ 1,482 | ||||||||
| Earnings per weighted average share of common stock- basic & diluted | ||||||||||||
| (Loss) income from continuing operations (net of dividends attributable to preferred stock) | $ (0.01) | $ 0.07 | $ 0.00 | $ 0.15 | ||||||||
| Net (loss) income available to common stockholders | $ (0.01) | $ 0.07 | $ 0.00 | $ 0.15 | ||||||||
| Weighted average shares of common stock outstanding | ||||||||||||
| Basic | 10,945 | 10,936 | [1] | 10,945 | 9,998 | |||||||
| Diluted | 10,945 | 10,988 | 11,023 | 10,050 | ||||||||
| Earnings per weighted average share of senior common stock | $ 0.26 | $ 0.26 | $ 0.80 | $ 0.78 | ||||||||
| Weighted average shares of senior common stock outstanding - basic | 112 | 59 | 89 | 59 | ||||||||
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| X | ||||||||||
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- Definition
Administration fee. No definition available.
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| X | ||||||||||
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- Definition
Base management fee. No definition available.
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| X | ||||||||||
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- Definition
Credit to incentive fee. No definition available.
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| X | ||||||||||
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- Definition
Distributions attributable to senior common stock. No definition available.
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- Details
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| X | ||||||||||
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- Definition
Earnings per weighted average share of senior common stock. No definition available.
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- Definition
Incentive fee. No definition available.
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| X | ||||||||||
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- Definition
Income loss from continuing operations per basic and diluted share net of dividend attributable to parent net of preferred stock dividend No definition available.
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- Definition
Operating expenses before credits from adviser. No definition available.
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- Definition
Weighted average shares of senior common stock outstanding - basic. No definition available.
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| X | ||||||||||
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- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other operating costs incurred during the reporting period and may include amounts paid to maintain the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of distributions during the period on mandatorily redeemable securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Dividends paid to preferred stock holders that is redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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