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v3.7.0.1

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2017 | Mar. 31, 2016
OPERATING REVENUES: |  |  |
Rental revenue |  | $ 5,748 | $ 3,680
Tenant recovery revenue |  | 2 | 3
Total operating revenues |  | 5,750 | 3,683
OPERATING EXPENSES: |  |  |
Depreciation and amortization |  | 1,472 | 977
Property operating expenses |  | 248 | 213
Acquisition-related expenses |  | 9 | 95
Management fee | [1] | 394 | 387
Incentive fee | [1] | 350 | 0
Administration fee | [1] | 227 | 212
General and administrative expenses |  | 446 | 399
Total operating expenses |  | 3,146 | 2,283
OPERATING INCOME |  | 2,604 | 1,400
OTHER INCOME (EXPENSE): |  |  |
Other income |  | 184 | 95
Interest expense |  | (2,157) | (1,255)
Distributions attributable to mandatorily-redeemable preferred stock |  | (458) | 0
Total other expense |  | (2,431) | (1,160)
NET INCOME |  | 173 | 240
Less net income attributable to non-controlling interests |  | (21) | (6)
NET INCOME ATTRIBUTABLE TO THE COMPANY |  | $ 152 | $ 234
EARNINGS PER COMMON SHARE: |  |  |
Basic and diluted (in dollars per share) |  | $ 0.01 | $ 0.02
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING: |  |  |
Basic and diluted (in shares) |  | 10,395,736 | 9,992,941
[1] | Refer to Note 6, “Related-Party Transactions,” for additional information.

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