Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.7.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
OPERATING REVENUES:        
Rental revenue $ 5,994 $ 4,241 $ 11,742 $ 7,921
Tenant recovery revenue 2 3 4 6
Total operating revenues 5,996 4,244 11,746 7,927
OPERATING EXPENSES:        
Depreciation and amortization 1,599 1,335 3,071 2,312
Property operating expenses 242 172 490 384
Acquisition-related expenses 37 25 46 120
Management fee [1] 530 385 924 773
Incentive fee [1] 76 159 427 159
Administration fee [1] 219 179 445 391
General and administrative expenses 387 395 834 794
Total operating expenses 3,090 2,650 6,237 4,933
OPERATING INCOME 2,906 1,594 5,509 2,994
OTHER INCOME (EXPENSE):        
Other income 0 9 185 103
Interest expense (2,193) (1,487) (4,349) (2,741)
Distributions attributable to mandatorily-redeemable preferred stock (458) 0 (917) 0
Total other expense (2,651) (1,478) (5,081) (2,638)
NET INCOME 255 116 428 356
Less net income attributable to non-controlling interests (28) (8) (49) (14)
NET INCOME ATTRIBUTABLE TO THE COMPANY $ 227 $ 108 $ 379 $ 342
EARNINGS PER COMMON SHARE:        
Basic and diluted (in dollars per share) $ 0.02 $ 0.01 $ 0.03 $ 0.03
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic and diluted (in shares) 11,850,624 9,992,941 11,127,199 9,992,941
[1] Refer to Note 6, “Related-Party Transactions,” for additional information.