Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
ASSETS    
Real estate, at cost $ 821,921 $ 821,749
Less: accumulated depreciation 138,070 131,661
Total real estate, net 683,851 690,088
Lease intangibles, net 102,075 105,553
Real estate and related assets held for sale, net 2,359 9,562
Cash and cash equivalents 4,105 4,658
Restricted cash 3,116 3,030
Funds held in escrow 4,281 6,806
Deferred rent receivable, net 30,151 29,725
Other assets 3,039 2,320
TOTAL ASSETS 832,977 851,742
LIABILITIES    
Mortgage notes payable, net 407,574 445,278
Borrowings under Revolver, net 63,797 39,225
Borrowings under Term Loan, net 24,897 24,892
Deferred rent liability, net 12,316 12,647
Asset retirement obligation 3,440 3,406
Accounts payable and accrued expenses 3,461 5,891
Liabilities related to assets held for sale, net 332 1,041
Due to Adviser and Administrator [1] 2,103 2,075
Other liabilities 7,488 6,667
TOTAL LIABILITIES 525,408 541,122
Commitments and contingencies [2]
MEZZANINE EQUITY    
Series D redeemable preferred stock, net, par value $0.001 per share; $25 per share liquidation preference; 6,000,000 shares authorized; and 3,007,293 and 2,917,458 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively [3] 72,965 70,743
TOTAL MEZZANINE EQUITY 72,965 70,743
STOCKHOLDERS’ EQUITY    
Series A and B redeemable preferred stock, par value $0.001 per share; $25 per share liquidation preference; 5,350,000 shares authorized and 2,264,000 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 2 2
Senior common stock, par value $0.001 per share; 4,450,000 shares authorized; and 957,481 and 959,552 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 1 1
Common stock, par value $0.001 per share, 34,200,000 and 34,040,000 shares authorized and 25,003,842 and 24,882,758 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 25 25
Additional paid in capital 465,790 463,436
Distributions in excess of accumulated earnings (231,214) (223,587)
TOTAL STOCKHOLDERS' EQUITY 234,604 239,877
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY $ 832,977 $ 851,742
[1] Refer to Note 2 "Related-Party Transactions"
[2] Refer to Note 9 “Commitments and Contingencies”
[3] Refer to Note 10 “Stockholders' Equity and Mezzanine Equity”