XML 21 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUE:      
Rental income $ 143,473 $ 137,416 $ 98,216
Tenant reimbursement income 5,719 5,587 4,401
Other property income 11,305 10,356 6,959
Property management and other income 719 29  
Total revenue 161,216 153,388 109,576
EXPENSES:      
Property operating expenses 64,716 63,148 46,281
Property management expenses 6,006 4,847 3,674
General and administrative expenses 9,526 10,864 7,790
Acquisition and integration expenses 1,342 43 13,555
Depreciation and amortization expense 34,201 34,824 28,094
Total expenses 115,791 113,726 99,394
Operating income 45,425 39,662 10,182
Interest expense (28,702) (35,535) (23,553)
Other income (expense) 89 (4) 19
Net gains (losses) on sale of assets 18,825 31,776 6,412
TSRE financing extinguishment and employee separation expenses     (27,508)
Gain (loss) on extinguishment of debt (572) (1,210)  
Acquisition related debt extinguishment expenses (3,624)    
Management internalization expense   (44,976)  
Gains (losses) on TSRE merger and property acquisitions   732 64,604
Net income (loss): 31,441 (9,555) 30,156
(Income) loss allocated to noncontrolling interest (1,235) (246) (1,914)
Net income (loss) allocable to common shares $ 30,206 $ (9,801) $ 28,242
Earnings (loss) per share:      
Basic $ 0.41 $ (0.19) $ 0.78
Diluted $ 0.41 $ (0.19) $ 0.78
Weighted-average shares:      
Basic 73,338,219 52,182,427 36,153,673
Diluted 73,599,869 52,182,427 36,160,274