Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.6
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating revenues    
Rental income $ 13,666 $ 12,014
Tenant recovery revenue 369 86
Total operating revenues 14,035 12,100
Operating expenses    
Depreciation and amortization 4,901 3,904
Property operating expenses 737 333
Due diligence expense 185 160
Base management fee (1) 353 [1] 393 [1]
Incentive fee (1) 931 [1] 899 [1]
Administration fee (1) 362 [1] 310 [1]
General and administrative 389 383
Total operating expenses before credits from Adviser 7,858 6,382
Credit to incentive fee (1) (585) [1] (585) [1]
Total operating expenses 7,273 5,797
Other income (expense)    
Interest expense (5,661) (4,572)
Distributions attributable to mandatorily redeemable preferred stock (686) (457)
Other income 18 27
Total other expense (6,329) (5,002)
Net income 433 1,301
Distributions attributable to preferred stock (1,023) (1,023)
Distributions attributable to senior common stock (53) (19)
Net (loss) income available to common stockholders $ (643) $ 259
Earnings per weighted average share of common stock- basic & diluted    
(Loss) income from continuing operations (net of dividends attributable to preferred stock) $ (0.06) $ 0.02
Net (loss) income available to common stockholders $ (0.06) $ 0.02
Weighted average shares of common stock outstanding    
Basic 11,230,647 10,945,379
Diluted 11,230,647 11,006,597
Earnings per weighted average share of senior common stock $ 0.26 $ 0.27
Weighted average shares of senior common stock outstanding - basic 204,582 70,333
[1] Refer to Note 2 "Related-Party Transactions"