Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Investments in real estate, net $ 463,274 $ 449,486
Lease intangibles, net 5,078 5,492
Cash and cash equivalents 2,583 2,938
Crop inventory 0 1,528
Other assets, net 4,276 2,834
TOTAL ASSETS 475,211 462,278
LIABILITIES:    
Borrowings under lines of credit 3,500 10,000
Mortgage notes and bonds payable, net 289,924 291,002
Series A cumulative term preferred stock, par value $0.001 per share; $25.00 per share liquidation preference; 2,000,000 shares authorized, 1,150,000 shares issued and outstanding as of June 30, 2018, and December 31, 2017, net 28,007 27,890
Accounts payable and accrued expenses 9,958 7,398
Due to related parties, net 807 940
Other liabilities, net 7,864 7,097
Total liabilities 340,060 344,327
Commitments and contingencies
Stockholders’ equity:    
Series B cumulative redeemable preferred stock, $0.001 par value; 6,500,000 shares authorized, 20,280 shares issued and outstanding as of June 30, 2018; no shares authorized, issued, or outstanding as December 31, 2017 0 0
Common stock, $0.001 par value; 91,500,000 shares authorized, 16,023,872 shares issued and outstanding as of June 30, 2018; 98,000,000 shares authorized, 13,791,574 shares issued and outstanding as of December 31, 2017 16 14
Additional paid-in capital 155,106 129,705
Distributions in excess of accumulated earnings (25,763) (19,802)
Total stockholders’ equity 129,359 109,917
Non-controlling interests in Operating Partnership 5,792 8,034
Total equity 135,151 117,951
TOTAL LIABILITIES AND EQUITY $ 475,211 $ 462,278