Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
ASSETS    
Investments in real estate, net $ 740,608 $ 538,953
Lease intangibles, net 5,257 5,686
Cash and cash equivalents 3,992 14,730
Other assets, net 7,170 5,750
TOTAL ASSETS 757,027 565,119
LIABILITIES:    
Borrowings under lines of credit 4,100 100
Notes and bonds payable, net 448,004 335,788
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 September 30, 2019, and December 31, 2018, net 28,301 28,124
Accounts payable and accrued expenses 7,015 9,152
Due to related parties, net 1,194 945
Other liabilities, net 15,123 9,957
Total liabilities 503,737 384,066
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; 3,465,527 shares issued and outstanding as of September 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; 20,888,075 shares issued and outstanding as of September 30, 2019; 17,891,340 shares issued and outstanding as of December 31, 2018 21 18
Additional paid-in capital 286,562 202,053
Accumulated other comprehensive loss (347)  
Distributions in excess of accumulated earnings (35,344) (25,826)
Total stockholders’ equity 250,895 176,246
Non-controlling interests in Operating Partnership 2,395 4,807
Total equity 253,290 181,053
TOTAL LIABILITIES AND EQUITY $ 757,027 $ 565,119