Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.2.0.727
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Operating revenues        
Rental revenue $ 20,012 $ 17,620 $ 39,300 $ 34,205
Tenant recovery revenue 394 770 718 1,321
Interest income from mortgage note receivable 282   549  
Total operating revenues 20,688 18,390 40,567 35,526
Operating expenses        
Depreciation and amortization 8,947 6,871 17,154 13,591
Property operating expenses 1,178 1,302 2,139 2,632
Acquisition related expenses 255 859 451 970
Base management fee [1] 866 666 1,717 1,291
Incentive fee [1] 1,760 1,527 3,433 2,767
Administration fee [1] 366 485 728 977
General and administrative 539 490 1,229 957
Impairment charge       13,958
Total operating expenses before credit to incentive fee 13,911 12,200 26,851 37,143
Credit to incentive fee [1] (1,316) (957) (2,500) (2,162)
Total operating expenses 12,595 11,243 24,351 34,981
Other income (expense)        
Interest expense (6,999) (6,509) (13,770) (12,784)
Gain on sale of real estate   1,240   1,240
Other income 23 27 51 74
Total other expense (7,662) (5,928) (15,091) (12,842)
Net income (loss) 431 1,219 1,125 (12,297)
Distributions attributable to senior common stock (261) (110) (485) (210)
Net (loss) income (attributable) available to common stockholders $ (853) $ 86 $ (1,407) $ (14,554)
(Loss) income per weighted average share of common stock - basic & diluted (Loss) income (attributable) available to common shareholders $ (0.04) $ 0.01 $ (0.07) $ (0.90)
Weighted average shares of common stock outstanding        
Basic 20,833,787 16,547,793 20,524,101 16,149,467
Diluted 20,833,787 16,894,973 20,524,101 16,149,467
Earnings per weighted average share of senior common stock $ 0.26 $ 0.26 $ 0.52 $ 0.52
Weighted average shares of senior common stock outstanding - basic 995,852 421,312 928,323 404,243
Series C Preferred Stock [Member]        
Other income (expense)        
Distributions attributable to Series C mandatorily redeemable preferred stock $ (686) $ (686) $ (1,372) $ (1,372)
Series A and B Preferred Stock [Member]        
Other income (expense)        
Distributions attributable to Series A and B preferred stock $ (1,023) $ (1,023) $ (2,047) $ (2,047)
[1] Refer to Note 2 "Related-Party Transactions"