| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
OPERATING REVENUES: | ||||||||
Lease revenue, net | ||||||||
40,692 | - | - | - | - | - | - | - | - |
Fixed rents | ||||||||
- | - | 24,807 | - | - | - | - | - | - |
Participation rents | ||||||||
- | - | 304 | - | - | - | - | - | - |
Lease revenue, net | ||||||||
- | 29,362 | 25,111 | 17,306 | 11,888 | 7,170 | 4,027 | 3,390 | 2,964 |
Tenant recovery revenue | ||||||||
- | - | 11 | - | - | - | - | - | - |
Other Operating Income | ||||||||
0 | 7,325 | 0 | - | - | - | - | - | - |
Total operating revenues | ||||||||
40,692 | 36,687 | 25,122 | - | - | - | - | - | - |
Tenant recovery revenue | ||||||||
- | - | - | 11 | 13 | 14 | 10 | - | - |
Total operating revenues | ||||||||
- | - | - | 17,317 | 11,901 | 7,184 | 4,038 | 3,390 | 2,964 |
OPERATING EXPENSES: | ||||||||
Depreciation and amortization | ||||||||
12,790 | 9,375 | 7,237 | 5,187 | 3,113 | 1,735 | 722 | 474 | 505 |
Property operating expenses | ||||||||
2,473 | 2,043 | 1,323 | 787 | 803 | 434 | 119 | - | - |
Professional fees | ||||||||
- | - | - | - | - | - | 615 | 245 | 612 |
Acquisition-related expenses | ||||||||
- | - | - | 246 | 467 | 520 | 153 | 153 | 63 |
Base management fee | ||||||||
3,623 | 2,837 | 2,041 | 1,542 | 1,343 | 1,079 | 195 | 267 | 241 |
Incentive fee | ||||||||
847 | 0 | 688 | 350 | 0 | 0 | 41 | - | - |
Capital gains fee | ||||||||
0 | 628 | 0 | - | - | - | - | - | - |
Administration fee | ||||||||
1,207 | 1,275 | 914 | 771 | 680 | 442 | 194 | 180 | 68 |
Property operating expenses | ||||||||
- | - | - | - | - | - | - | 117 | 84 |
General and administrative expenses | ||||||||
1,989 | 1,751 | 1,597 | 1,378 | 1,247 | 1,372 | 679 | 50 | 105 |
Other operating expenses | ||||||||
0 | 7,680 | 0 | - | - | - | - | - | - |
Total operating expenses | ||||||||
22,929 | 25,589 | 13,800 | 10,261 | 7,653 | 5,584 | 2,721 | 1,488 | 1,681 |
Credits to fees from Adviser | ||||||||
1,543 | 1,014 | 54 | 0 | 321 | 0 | 41 | - | - |
Total operating expenses, net of credits to fees | ||||||||
- | - | - | 10,261 | 7,332 | 5,584 | 2,680 | 1,488 | 1,681 |
Total operating expenses, net of credits to fees | ||||||||
21,386 | 24,575 | 13,746 | - | - | - | - | - | - |
OPERATING INCOME | ||||||||
- | - | - | 7,056 | 4,569 | 1,599 | 1,357 | 1,901 | 1,282 |
OTHER INCOME (EXPENSE): | ||||||||
Interest income | ||||||||
- | - | - | - | - | - | - | 1 | 2 |
Other income | ||||||||
938 | 373 | 206 | 109 | 49 | 47 | 56 | 4 | 7 |
Interest expense | ||||||||
16,331 | 12,130 | 9,762 | 6,015 | 4,160 | 2,009 | 1,118 | 1,006 | 805 |
Dividends declared on Series A cumulative term preferred stock | ||||||||
1,833 | 1,833 | 1,833 | 677 | 0 | - | - | - | - |
Loss on dispositions of real estate assets, net | ||||||||
-328 | 5,532 | -21 | 0 | 14 | 0 | - | - | - |
Distributions attributable to mandatorily-redeemable preferred stock | ||||||||
- | - | - | - | - | 0 | - | - | - |
Property and casualty recovery | ||||||||
10 | -194 | 0 | 0 | 97 | 262 | - | - | - |
Inventory Write-down | ||||||||
0 | 1,100 | 0 | - | - | - | - | - | - |
Loss on early extinguishment of debt | ||||||||
- | - | - | - | - | - | - | - | -474 |
Total other expense, net | ||||||||
-17,544 | -9,346 | -11,410 | -6,583 | -4,000 | -1,698 | -1,062 | -1,000 | -1,269 |
Net income (loss) before income taxes | ||||||||
- | - | - | - | - | -98 | 295 | 900 | 13 |
Income tax provision | ||||||||
- | - | - | - | - | 26 | 1,519 | 300 | 7 |
NET INCOME | ||||||||
1,762 | 2,766 | -34 | 473 | 569 | -125 | - | - | - |
Net income attributable to non-controlling interests | ||||||||
21 | 137 | -3 | 25 | 0 | 0 | - | - | - |
NET INCOME ATTRIBUTABLE TO THE COMPANY | ||||||||
1,741 | 2,629 | -31 | 448 | 569 | -125 | -1,224 | 600 | 6 |
Dividends declared on Series B cumulative redeemable preferred stock | ||||||||
4,240 | 379 | 0 | - | - | - | - | - | - |
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS | ||||||||
-2,499 | 2,250 | -31 | - | - | - | - | - | - |
Earnings Per Share [Abstract] | ||||||||
EARNINGS (LOSS) PER COMMON SHARE: | ||||||||
Basic and diluted (in dollars per share) | ||||||||
-0.13 | 0.15 | 0.00 | 0.04 | 0.07 | -0.02 | -0.20 | 0.22 | 0.00 |
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING: | ||||||||
Basic and diluted (in shares) | ||||||||
19,602 | 15,503 | 12,055 | 10,007 | 8,639 | 6,852 | 6,214 | 2,750 | 2,750 |
COMPREHENSIVE INCOME: | ||||||||
Net Income (Loss) Attributable to Parent | ||||||||
1,741 | 2,629 | - | - | - | - | - | - | - |
Change in fair value related to interest rate hedging instruments | ||||||||
-390 | 0 | - | - | - | - | - | - | - |
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE COMPANY | ||||||||
1,351 | 2,629 | - | - | - | - | - | - | - |
Distributions declared per common share (in dollars per share) | ||||||||
- | - | 0.52 | - | - | - | - | - | - |