Self Administration Transaction (Tables)

6 Months Ended

Jun. 30, 2019

Business Acquisition, Pro Forma Information [Table Text Block]

The following condensed pro forma operating information is presented as if the Self Administration Transaction and Mergers occurred in 2018 and had been included in operations as of January 1, 2018. The pro forma operating information excludes certain nonrecurring adjustments, such as acquisition fees and expenses incurred, to reflect the pro forma impact the acquisition would have on earnings on a continuous basis:



	Six Months Ended June 30, 2018
Revenue	$	166,390
Net income	$	32,989
Net income attributable to noncontrolling interests	$	5,001
Net income attributable to common stockholders ⁽¹⁾	$	27,812
Net income attributable to common stockholders per share, basic and diluted	$	0.16


(1)	Amount is net of net income attributable to noncontrolling interests, distributions to redeemable noncontrolling interests attributable to common stockholders and distributions to preferred shareholders.

Schedule of Consideration Given to Acquire Interest

Under the terms of the Self Administration Transaction, the following consideration was given in exchange for 100% of the membership interests in GRECO:



	Amount
Fair value of EA-1 Operating Partnership units issued	$	205,000
Fair value of earn-outs	29,380
Accrued liabilities:
Executive deferred compensation plan	7,795
Other liabilities	11,890
Total consideration	254,065
Less: accounts receivable from affiliates and other assets	(19,878		)
Net consideration	$	234,187

Schedule of Purchase Price Allocation

During the six months ended June 30, 2019, the allocation of the Self Administration Transaction purchase price is considered preliminary. The Company is continuing to gather additional information to finalize the fair values of the assets and liabilities acquired. The following table summarizes the preliminary purchase price allocation:



	Amount
Assets:
Accounts receivable from affiliates and other assets	$	19,878
Management contract intangibles	4,239
Goodwill	229,948
Total assets acquired	254,065
Liabilities:
Earn-outs (due to affiliates)	29,380
Executive deferred compensation plan	7,795
Other liabilities	11,890
Total liabilities assumed	49,065
Net assets acquired	$	205,000