Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.3.0.814
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Operating revenues        
Rental revenue $ 20,653 $ 18,368 $ 59,953 $ 52,573
Tenant recovery revenue 437 549 1,195 1,870
Interest income from mortgage note receivable 285 97 835 97
Total operating revenues 21,375 19,014 61,983 54,540
Operating expenses        
Depreciation and amortization 9,006 7,516 26,160 21,107
Property operating expenses 1,612 1,202 3,752 3,834
Acquisition related expenses 138 233 589 1,202
Base management fee [1] 872 741 2,589 2,031
Incentive fee [1] 621 1,538 4,054 4,305
Administration fee [1] 326 260 1,054 1,238
General and administrative 446 538 1,675 1,495
Impairment charge 622 280 622 14,238
Total operating expenses before credit to incentive fee 13,643 12,308 40,495 49,450
Credit to incentive fee 0 (851) [1] (2,500) [1] (3,013) [1]
Total operating expenses 13,643 11,457 37,995 46,437
Other expense        
Interest expense (7,142) (6,679) (20,912) (19,463)
Gain on sale of real estate       1,240
Other income   37 11 111
Total other expense (7,828) (7,328) (22,958) (20,169)
Net (loss) income (96) 229 1,030 (12,066)
Distributions attributable to senior common stock (263) (137) (748) (347)
Net loss attributable to common stockholders $ (1,382) $ (931) $ (2,788) $ (15,483)
Loss per weighted average share of common stock - basic & diluted Loss attributable to common shareholders $ (0.06) $ (0.05) $ (0.13) $ (0.93)
Weighted average shares of common stock outstanding        
Basic 21,403,808 17,739,084 20,820,559 16,685,162
Diluted 21,403,808 17,739,084 20,820,559 16,685,162
Earnings per weighted average share of senior common stock $ 0.26 $ 0.26 $ 0.79 $ 0.79
Weighted average shares of senior common stock outstanding - basic 993,069 518,592 948,347 438,196
Series C Preferred Stock [Member]        
Other expense        
Distributions attributable to Series C mandatorily redeemable preferred stock $ (686) $ (686) $ (2,057) $ (2,057)
Series A and B Preferred Stock [Member]        
Other 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"