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v3.8.0.1

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
OPERATING REVENUES: |  |  |  |  |
Rental revenue |  | $ 6,561 | $ 4,467 | $ 18,302 | $ 12,388
Tenant recovery revenue |  | 3 | 2 | 8 | 8
Total operating revenues |  | 6,564 | 4,469 | 18,310 | 12,396
OPERATING EXPENSES: |  |  |  |  |
Depreciation and amortization |  | 2,051 | 1,432 | 5,123 | 3,744
Property operating expenses |  | 257 | 161 | 747 | 545
Acquisition-related expenses |  | 22 | 123 | 68 | 243
Management fee | [1] | 523 | 385 | 1,446 | 1,158
Incentive fee | [1] | 261 | 22 | 688 | 181
Administration fee | [1] | 211 | 184 | 656 | 575
General and administrative expenses |  | 374 | 356 | 1,208 | 1,150
Total operating expenses |  | 3,699 | 2,663 | 9,936 | 7,596
Credits to fees from Adviser | [1] | (54) | 0 | (54) | 0
Total operating expenses |  | 3,645 | 2,663 | 9,882 | 7,596
OPERATING INCOME |  | 2,919 | 1,806 | 8,428 | 4,800
OTHER INCOME (EXPENSE): |  |  |  |  |
Other income |  | 4 | 2 | 190 | 106
Interest expense |  | (2,634) | (1,554) | (6,984) | (4,297)
Distributions attributable to mandatorily-redeemable preferred stock |  | (458) | (219) | (1,375) | (219)
Loss on disposal of real estate asset |  | (78) | 0 | (78) | 0
Total other expense |  | (3,166) | (1,771) | (8,247) | (4,410)
NET (LOSS) INCOME |  | (247) | 35 | 181 | 390
Plus (less) net loss (income) attributable to non-controlling interests |  | 26 | (3) | (23) | (16)
NET (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY |  | $ (221) | $ 32 | $ 158 | $ 374
(LOSS) EARNINGS PER COMMON SHARE: |  |  |  |  |
Basic and diluted (in dollars per share) |  | $ (0.02) | $ 0.00 | $ 0.01 | $ 0.04
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING: |  |  |  |  |
Basic and diluted (in shares) |  | 12,271,925 | 10,018,331 | 11,512,968 | 10,001,466
[1] | Refer to Note 6, “Related-Party Transactions,” for additional information.

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