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 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Operating revenues        
Rental income $ 15,807 $ 12,878 $ 43,663 $ 37,214
Tenant recovery revenue 383 92 819 264
Total operating revenues 16,190 12,970 44,482 37,478
Operating expenses        
Depreciation and amortization 6,253 4,276 16,374 12,172
Property operating expenses 864 345 2,164 1,031
Acquisitions related expense 163 117 622 805
Base management fee 559 [1] 355 [1] 1,363 [1] 1,120 [1]
Incentive fee 1,138 [1] 927 [1] 3,001 [1] 2,614 [1]
Administration fee 274 [1] 272 [1] 1,004 [1] 846 [1]
General and administrative 377 343 1,243 1,130
Total operating expenses before credit to incentive fee 9,628 6,635 25,771 19,718
Credit to incentive fee (989) [1] (535) [1] (2,491) [1] (1,794) [1]
Total operating expenses 8,639 6,100 23,280 17,924
Other income (expense)        
Interest expense (6,573) (5,229) (17,998) (14,687)
Other income 17 37 47 109
Total other expense (7,242) (5,878) (20,008) (16,407)
Net income 309 992 1,194 3,147
Distributions attributable to senior common stock (83) (30) (204) (71)
Net (loss) income available to common stockholders (797) (61) (2,080) 6
Earnings per weighted average share of common stock - basic & diluted        
(Loss) income from continuing operations (net of dividends attributable to preferred stock) $ (0.06) $ (0.01) $ (0.16) $ 0.00
Net (loss) income available to common stockholders $ (0.06) $ (0.01) $ (0.16) $ 0.00
Dividends declared per share of common stock $ 0.375 $ 0.375 $ 1.125 $ 1.125
Weighted average shares of common stock outstanding        
Basic 14,196,423 10,945,379 12,613,354 10,945,379
Diluted 14,196,423 10,945,379 12,613,354 11,022,682
Earnings per weighted average share of senior common stock $ 0.26 $ 0.26 $ 0.78 $ 0.80
Weighted average shares of senior common stock outstanding - basic 313,239 112,873 260,693 89,720
Series C Preferred Stock [Member]
        
Other income (expense)        
Distributions attributable to Series C mandatorily redeemable preferred stock (686) (686) (2,057) (1,829)
Series A and B Preferred Stock [Member]
        
Other income (expense)        
Distributions attributable to Series A and B preferred stock $ (1,023) $ (1,023) $ (3,070) $ (3,070)
[1] Refer to Note 2 "Related-Party Transactions"