XML 31 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Real estate assets:    
Land $ 191,578 $ 191,578
Buildings and improvements 1,924,664 1,857,935
Fixtures and equipment 11,665 8,839
Total real estate assets, gross 2,127,907 2,058,352
Less accumulated depreciation 490,697 432,579
Real estate assets, net 1,637,210 1,625,773
Acquired real estate leases, less accumulated amortization of $60,749 and $101,897, respectively 40,704 59,595
Cash, cash equivalents and restricted cash 9,790 11,177
Tenant rent receivables 3,851 3,938
Straight-line rent receivable 66,881 54,006
Prepaid expenses and other assets 7,246 10,400
Other assets: derivative asset 3,022 14,765
Related party mortgage loan receivable 21,000 70,660
Office computers and furniture, net of accumulated depreciation of $1,362 and $1,512, respectively 183 197
Deferred leasing commissions, net of accumulated amortization of $28,114 and $24,318, respectively 52,767 47,591
Total assets 1,842,654 1,898,102
Liabilities:    
Bank note payable   25,000
Term loans payable, less unamortized financing costs of $4,267 and $5,722, respectively 765,733 764,278
Series A & Series B Senior Notes, less unamortized financing costs of $985 and $1,150, respectively 199,015 198,850
Accounts payable and accrued expenses 66,658 59,183
Accrued compensation 3,400 3,043
Tenant security deposits 9,346 6,319
Lease liability 1,890  
Other liabilities: derivative liabilities 7,704  
Acquired unfavorable real estate leases, less accumulated amortization of $4,676 and $6,605, respectively 2,512 3,795
Total liabilities 1,056,258 1,060,468
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, $.0001 par value, 20,000,000 shares authorized, none issued or outstanding
Common stock, $.0001 par value, 180,000,000 shares authorized, 107,269,201 and 107,231,155 shares issued and outstanding, respectively 11 11
Additional paid-in capital 1,356,794 1,356,457
Accumulated other comprehensive income (loss) (4,682) 14,765
Distributions in excess of accumulated earnings (565,727) (533,599)
Total stockholders' equity 786,396 837,634
Total liabilities and stockholders' equity $ 1,842,654 $ 1,898,102