Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Investments in real estate, net $ 458,915 $ 449,486
Lease intangibles, net 5,328 5,492
Cash and cash equivalents 2,679 2,938
Crop inventory 2,059 1,528
Other assets, net 3,935 2,834
TOTAL ASSETS 472,916 462,278
LIABILITIES:    
Borrowings under lines of credit 3,900 10,000
Mortgage notes and bonds payable, net 289,050 291,002
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 March 31, 2018, and December 31, 2017, net 27,948 27,890
Accounts payable and accrued expenses 8,575 7,398
Due to related parties, net [1] 950 940
Other liabilities, net 10,525 7,097
Total liabilities 340,948 344,327
Commitments and contingencies [2]
Series B cumulative redeemable preferred stock, $0.001 par value; 6,500,000 shares authorized, no shares issued and outstanding as of March 31, 2018; no shares authorized, issued, or outstanding as of December 31, 2017 0 0
Stockholders’ equity:    
Common stock, $0.001 par value; 91,500,000 shares authorized, 15,216,199 shares issued and outstanding as of March 31, 2018; 98,000,000 shares authorized, 13,791,574 shares issued and outstanding as of December 31, 2017 15 14
Additional paid-in capital 145,990 129,705
Distributions in excess of accumulated earnings (21,950) (19,802)
Total stockholders’ equity 124,055 109,917
Non-controlling interests in Operating Partnership 7,913 8,034
Total equity 131,968 117,951
TOTAL LIABILITIES AND EQUITY $ 472,916 $ 462,278
[1] Refer to Note 6, “Related-Party Transactions,” for additional information.
[2] Refer to Note 8, “Commitments and Contingencies,” for additional information.