Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Investments in real estate, net $ 444,390 $ 326,311
Lease intangibles, net 5,796 2,000
Cash and cash equivalents 3,758 2,438
Deferred financing costs related to borrowings under line of credit, net 209 239
Other assets, net 2,407 2,997
TOTAL ASSETS 456,560 333,985
LIABILITIES:    
Borrowings under lines of credit 5,100 16,550
Mortgage notes and bonds payable, net 290,234 190,797
Series A cumulative term preferred stock, par value $0.001 per share; $25.00 per share liquidation preference; 2,000,000 shares authorized, 1,150,000 shares issued and outstanding as of September 30, 2017, and December 31, 2016, net 27,831 27,655
Accounts payable and accrued expenses 4,382 2,801
Due to related parties, net [1] 984 751
Other liabilities, net 9,043 7,654
Total liabilities 337,574 246,208
Commitments and contingencies [2]
Stockholders’ equity:    
Common stock, $0.001 par value; 98,000,000 shares authorized, 13,485,025 shares issued and outstanding as of September 30, 2017; 18,000,000 shares authorized, 10,024,875 shares issued and outstanding as of December 31, 2016 13 10
Additional paid-in capital 126,848 90,082
Accumulated deficit (17,801) (13,402)
Total stockholders’ equity 109,060 76,690
Non-controlling interests in the Operating Partnership 9,926 11,087
Total equity 118,986 87,777
TOTAL LIABILITIES AND EQUITY $ 456,560 $ 333,985
[1] Refer to Note 6, “Related-Party Transactions,” for additional information.
[2] Refer to Note 8, “Commitments and Contingencies,” for additional information.