Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Investments in real estate, net $ 587,969 $ 538,953
Lease intangibles, net 5,039 5,686
Cash and cash equivalents 28,705 14,730
Other assets, net 7,010 5,750
TOTAL ASSETS 628,723 565,119
LIABILITIES:    
Borrowings under lines of credit 100 100
Notes and bonds payable, net 350,144 335,788
Series A cumulative term preferred stock, $0.001 par value; $25.00 per share liquidation preference; 2,000,000 shares authorized, 1,150,000 shares issued and outstanding as of June 30, 2019, and December 31, 2018, net 28,241 28,124
Accounts payable and accrued expenses 9,134 9,152
Due to related parties, net 364 945
Other liabilities, net 9,386 9,957
Total liabilities 397,369 384,066
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Series B cumulative redeemable preferred stock, $0.001 par value; $25.00 per share liquidation preference; 6,500,000 shares authorized; 2,636,068 shares issued and outstanding as of June 30, 2019; 1,144,393 shares issued and outstanding as of December 31, 2018 3 1
Common stock, $0.001 par value; 91,500,000 shares authorized; 20,532,770 shares issued and outstanding as of June 30, 2019; 17,891,340 shares issued and outstanding as of December 31, 2018 21 18
Additional paid-in capital 263,249 202,053
Distributions in excess of accumulated earnings (31,919) (25,826)
Total stockholders’ equity 231,354 176,246
Non-controlling interests in Operating Partnership 0 4,807
Total equity 231,354 181,053
TOTAL LIABILITIES AND EQUITY $ 628,723 $ 565,119