Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

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Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Operating revenues        
Rental income $ 14,190 $ 12,323 $ 27,856 $ 24,336
Tenant recovery revenue 68 87 437 171
Total operating revenues 14,258 12,410 28,293 24,507
Operating expenses        
Depreciation and amortization 5,220 3,992 10,121 7,896
Property operating expenses 564 353 1,300 686
Acquisitions related expense 274 528 459 688
Base management fee 451 [1] 372 [1] 804 [1] 765 [1]
Incentive fee 933 [1] 787 [1] 1,864 [1] 1,686 [1]
Administration fee 367 [1] 265 [1] 730 [1] 575 [1]
General and administrative 477 404 866 787
Total operating expenses before credit to incentive fee 8,286 6,701 16,144 13,083
Credit to incentive fee (917) [1] (674) [1] (1,502) [1] (1,259) [1]
Total operating expenses 7,369 6,027 14,642 11,824
Other income (expense)        
Interest expense (5,764) (4,885) (11,425) (9,458)
Other income 12 42 29 73
Total other expense (6,438) (5,529) (12,768) (10,528)
Net income 451 854 883 2,155
Distributions attributable to senior common stock (69) (22) (122) (41)
Net (loss) income available to common stockholders (641) (192) (1,286) 67
Earnings per weighted average share of common stock - basic & diluted        
(Loss) income from continuing operations (net of dividends attributable to preferred stock) $ (0.05) $ (0.02) $ (0.11) $ 0.01
Net (loss) income available to common stockholders $ (0.05) $ (0.02) $ (0.11) $ 0.01
Dividends declared per share of common stock $ 0.375 $ 0.375 $ 0.750 $ 0.750
Weighted average shares of common stock outstanding        
Basic 12,380,402 10,945,379 11,808,701 10,945,379
Diluted 12,380,402 10,945,379 11,808,701 11,011,259
Earnings per weighted average share of senior common stock $ 0.26 $ 0.26 $ 0.52 $ 0.53
Weighted average shares of senior common stock outstanding - basic 261,754 84,361 233,633 75,738
Series C Preferred Stock [Member]
        
Other income (expense)        
Distributions attributable to Series C mandatorily redeemable preferred stock (686) (686) (1,372) (1,143)
Series A and B Preferred Stock [Member]
        
Other income (expense)        
Distributions attributable to Series A and B preferred stock $ (1,023) $ (1,024) $ (2,047) $ (2,047)
[1] Refer to Note 2 "Related-Party Transactions"