Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.8.0.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
OPERATING REVENUES:        
Rental revenue $ 6,561 $ 4,467 $ 18,302 $ 12,388
Tenant recovery revenue 3 2 8 8
Total operating revenues 6,564 4,469 18,310 12,396
OPERATING EXPENSES:        
Depreciation and amortization 2,051 1,432 5,123 3,744
Property operating expenses 257 161 747 545
Acquisition-related expenses 22 123 68 243
Management fee [1] 523 385 1,446 1,158
Incentive fee [1] 261 22 688 181
Administration fee [1] 211 184 656 575
General and administrative expenses 374 356 1,208 1,150
Total operating expenses 3,699 2,663 9,936 7,596
Credits to fees from Adviser [1] (54) 0 (54) 0
Total operating expenses 3,645 2,663 9,882 7,596
OPERATING INCOME 2,919 1,806 8,428 4,800
OTHER INCOME (EXPENSE):        
Other income 4 2 190 106
Interest expense (2,634) (1,554) (6,984) (4,297)
Distributions attributable to mandatorily-redeemable preferred stock (458) (219) (1,375) (219)
Loss on disposal of real estate asset (78) 0 (78) 0
Total other expense (3,166) (1,771) (8,247) (4,410)
NET (LOSS) INCOME (247) 35 181 390
Plus (less) net loss (income) attributable to non-controlling interests 26 (3) (23) (16)
NET (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY $ (221) $ 32 $ 158 $ 374
(LOSS) EARNINGS PER COMMON SHARE:        
Basic and diluted (in dollars per share) $ (0.02) $ 0.00 $ 0.01 $ 0.04
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic and diluted (in shares) 12,271,925 10,018,331 11,512,968 10,001,466
[1] Refer to Note 6, “Related-Party Transactions,” for additional information.