Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
ASSETS    
Investments in real estate, net $ 541,451 $ 538,953
Lease intangibles, net 5,364 5,686
Cash and cash equivalents 23,108 14,730
Other assets, net 6,026 5,750
TOTAL ASSETS 575,949 565,119
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 333,835 335,788
Series A cumulative term preferred stock, $0.001 par value; $25.00 per share liquidation preference; 2,000,000 shares authorized, 1,150,000 shares issued and outstanding as of March 31, 2019, and December 31, 2018, net 28,183 28,124
Accounts payable and accrued expenses 6,715 9,152
Due to related parties, net 676 945
Other liabilities, net 11,671 9,957
Total liabilities 381,180 384,066
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Series B cumulative redeemable preferred stock, $0.001 par value; $25.00 per share liquidation preference; 6,500,000 shares authorized; 1,891,709 shares issued and outstanding as of March 31, 2019; 1,144,393 shares issued and outstanding as of December 31, 2018 2 1
Common stock, $0.001 par value; 91,500,000 shares authorized; 18,462,219 shares issued and outstanding as of March 31, 2019; 17,891,340 shares issued and outstanding as of December 31, 2018 18 18
Additional paid-in capital 223,480 202,053
Distributions in excess of accumulated earnings (28,731) (25,826)
Total stockholders’ equity 194,769 176,246
Non-controlling interests in Operating Partnership 0 4,807
Total equity 194,769 181,053
TOTAL LIABILITIES AND EQUITY $ 575,949 $ 565,119