|
Consolidated and Combined Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
Predecessor
|
Dec. 31, 2011
Predecessor
|
| Revenues |
|
|
|
| Rental revenues |
$ 13,565 |
$ 9,821 |
$ 10,472 |
| Expense recoveries |
3,234 |
3,111 |
3,314 |
| Other revenues |
|
15 |
61 |
| Total Revenues |
16,799 |
12,947 |
13,847 |
| Expenses |
|
|
|
| Management fees |
475 |
951 |
951 |
| General and administrative |
3,214 |
362 |
301 |
| Operating expenses |
4,650 |
4,758 |
4,953 |
| Depreciation and amortization |
5,107 |
4,150 |
4,588 |
| Loss on sale of property under development |
2 |
228 |
|
| Impairment |
|
937 |
1,437 |
| Acquisition expenses |
1,938 |
|
|
| Total Expenses |
15,386 |
11,386 |
12,230 |
| Operating income |
1,413 |
1,561 |
1,617 |
| Other expense/(income) |
|
|
|
| Interest expense, net |
4,295 |
4,538 |
4,617 |
| Change in fair value of derivatives, net |
(246) |
(122) |
325 |
| Loss from continuing operations |
(2,636) |
(2,855) |
(3,325) |
| Discontinued Operations: |
|
|
|
| (Loss)/income from operations on discontinued investment properties |
|
(198) |
265 |
| Gain on sale of discontinued investment properties |
|
1,519 |
|
| Income from discontinued operations |
|
1,321 |
265 |
| Net loss |
(2,636) |
|
|
| Net loss |
|
(1,534) |
(3,060) |
| Less: Net loss attributable to Predecessor |
576 |
|
|
| Less: Net loss attributable to noncontrolling interests |
399 |
|
|
| Net loss attributable to common shareholders |
$ (1,661) |
|
|
| Net loss per share: |
|
|
|
| Basic and diluted (in dollars per share) |
$ (0.13) |
|
|
| Weighted average common shares: |
|
|
|
| Basic and diluted (in shares) |
12,883,917 |
|
|
| Dividends/distributions declared per common share and unit (in dollars per share) |
$ 0.225 |
|
|