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, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Operating revenues        
Rental revenue $ 18,368 $ 15,807 $ 52,573 $ 43,663
Interest income from mortgage note receivable 97   97  
Tenant recovery revenue 549 383 1,870 819
Income from real estate and related assets held for sale 19,014 16,190 54,540 44,482
Operating expenses        
Depreciation and amortization 7,516 6,253 21,107 16,374
Property operating expenses 1,202 864 3,834 2,164
Acquisition related expenses 233 163 1,202 622
Base management fee 741 [1] 559 [1] 2,031 [1] 1,363 [1]
Incentive fee 1,538 [1] 1,138 [1] 4,305 [1] 3,001 [1]
Administration fee 260 [1] 274 [1] 1,238 [1] 1,004 [1]
General and administrative 538 377 1,495 1,243
Impairment charge 280   14,238  
Total operating expenses before credit to incentive fee 12,308 9,628 49,450 25,771
Credit to incentive fee (851) [1] (989) [1] (3,013) [1] (2,491) [1]
Total operating expenses 11,457 8,639 46,437 23,280
Other income (expense)        
Interest expense (6,679) (6,573) (19,463) (17,998)
Gain on sale of real estate     1,240  
Other income 37 17 111 47
Total other expense (7,328) (7,242) (20,169) (20,008)
Net income (loss) 229 309 (12,066) 1,194
Distributions attributable to senior common stock (137) (83) (347) (204)
Net loss attributable to common stockholders (931) (797) (15,483) (2,080)
Loss per weighted average share of common stock-basic & diluted        
Loss from continuing operations (net of dividends attributable to preferred stock) $ (0.05) $ (0.06) $ (0.93) $ (0.16)
Loss attributable to common stockholders $ (0.05) $ (0.06) $ (0.93) $ (0.16)
Weighted average shares of common stock outstanding        
Basic 17,739,084 14,196,423 16,685,162 12,613,354
Diluted 17,739,084 14,196,423 16,685,162 12,613,354
Earnings per weighted average share of senior common stock $ 0.26 $ 0.26 $ 0.79 $ 0.78
Weighted average shares of senior common stock outstanding-basic 518,592 313,239 438,196 260,693
Series C Preferred Stock [Member]
        
Other income (expense)        
Distributions attributable to Series C mandatorily redeemable preferred stock (686) (686) (2,057) (2,057)
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"