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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Land and improvements $ 433,666 $ 433,666
Building and improvements 438,281 435,318
Tenant improvements 2,986 2,986
Furniture, fixtures and equipment 9,420 9,281
Total Investment in real estate 884,353 881,251
Accumulated depreciation (61,879) (58,174)
Investment in real estate, net 822,474 823,077
Cash and cash equivalents 105,211 37,547
Restricted cash 16,539 11,105
Tenant and other receivables, net of allowance for doubtful accounts of $3,152 and $2,768, respectively 5,354 4,485
Deferred rent 3,748 3,825
Deferred costs and intangible assets, net 13,318 13,953
Prepaid expenses and other assets 14,639 11,216
TOTAL ASSETS 981,283 905,208
LIABILITIES AND EQUITY    
Notes payable, net of unamortized loan costs of $9,548 and $10,134, respectively 754,800 754,459
Accounts payable and accrued liabilities 6,515 8,982
Security deposits 6,380 6,248
Below-market leases, net 6,415 6,862
Other liabilities 6,603 2,441
TOTAL LIABILITIES 780,713 778,992
Preferred stock, $0.01 par value, 12.5% Series A Cumulative Non-Voting Preferred Stock; $137,500 liquidation preference, 132 shares issued and outstanding
Common stock, $0.01 par value, 500,000,000 shares authorized, 17,812,755 and 11,422,606, respectively, issued and outstanding 178 114
Additional paid-in-capital 91,346 46,671
Accumulated deficit (10,566) (8,584)
Total stockholders’ equity 80,958 38,201
Non-controlling interests 119,612 88,015
TOTAL EQUITY 200,570 126,216
TOTAL LIABILITIES AND EQUITY $ 981,283 $ 905,208