2014 Q3 Form 10-Q Financial Statement
#000119312514308866 Filed on August 14, 2014
Income Statement
| Concept | 2014 Q3 | 2014 Q2 |
|---|---|---|
| Revenue | $9.998M | $8.393M |
| YoY Change | 46.34% | 90.36% |
| Cost Of Revenue | $3.230M | $2.640M |
| YoY Change | 64.8% | 94.12% |
| Gross Profit | $6.760M | $5.750M |
| YoY Change | 38.81% | 89.14% |
| Gross Profit Margin | 67.61% | 68.51% |
| Selling, General & Admin | $1.540M | $1.210M |
| YoY Change | 234.78% | 384.0% |
| % of Gross Profit | 22.78% | 21.04% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $4.050M | $3.420M |
| YoY Change | 60.08% | 113.75% |
| % of Gross Profit | 59.91% | 59.48% |
| Operating Expenses | $9.403M | $7.779M |
| YoY Change | 199.46% | 296.88% |
| Operating Profit | $595.4K | $614.4K |
| YoY Change | -65.58% | -43.11% |
| Interest Expense | $1.867M | $1.785M |
| YoY Change | -218.16% | -273.33% |
| % of Operating Profit | 313.55% | 290.56% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$2.370M | -$3.070M |
| YoY Change | -1581.25% | 116.2% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$2.374M | -$240.1K |
| YoY Change | -1602.45% | -83.12% |
| Net Earnings / Revenue | -23.74% | -2.86% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$216.1K | -$260.8K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 6.582M shares | 6.582M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2014 Q3 | 2014 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $8.900M | $10.20M |
| YoY Change | 17.11% | |
| Cash & Equivalents | $8.855M | $10.18M |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $7.372M | $6.288M |
| Other Receivables | ||
| Total Short-Term Assets | $16.30M | $16.50M |
| YoY Change | 36.97% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $189.8M | $167.1M |
| YoY Change | 91.14% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Other Assets | $18.60M | $18.00M |
| YoY Change | 82.35% | |
| Total Long-Term Assets | $235.9M | $212.8M |
| YoY Change | 81.16% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $16.30M | $16.50M |
| Total Long-Term Assets | $235.9M | $212.8M |
| Total Assets | $252.2M | $229.3M |
| YoY Change | 77.46% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $4.200M | $4.800M |
| YoY Change | 50.0% | |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $4.200M | $4.800M |
| YoY Change | 50.0% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $179.6M | $155.0M |
| YoY Change | 64.92% | |
| Other Long-Term Liabilities | $15.80M | $12.10M |
| YoY Change | 338.89% | |
| Total Long-Term Liabilities | $195.4M | $167.1M |
| YoY Change | 73.69% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $4.200M | $4.800M |
| Total Long-Term Liabilities | $195.4M | $167.1M |
| Total Liabilities | $199.6M | $172.0M |
| YoY Change | 71.51% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$7.136M | -$3.444M |
| YoY Change | ||
| Common Stock | $81.93K | $81.94K |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $38.45M | $41.76M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $252.2M | $229.3M |
| YoY Change | 77.46% |
Cashflow Statement
| Concept | 2014 Q3 | 2014 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$2.374M | -$240.1K |
| YoY Change | -1602.45% | -83.12% |
| Depreciation, Depletion And Amortization | $4.050M | $3.420M |
| YoY Change | 60.08% | 113.75% |
| Cash From Operating Activities | $3.100M | $690.0K |
| YoY Change | -36.48% | -48.51% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$25.95M | -$26.80M |
| YoY Change | 4705.56% | -62.52% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$140.0K | -$360.0K |
| YoY Change | -187.5% | 140.0% |
| Cash From Investing Activities | -$26.09M | -$27.16M |
| YoY Change | 6765.79% | -62.1% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $9.100M | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 21.66M | 30.12M |
| YoY Change | 7120.0% | -57.09% |
| NET CHANGE | ||
| Cash From Operating Activities | 3.100M | 690.0K |
| Cash From Investing Activities | -26.09M | -27.16M |
| Cash From Financing Activities | 21.66M | 30.12M |
| Net Change In Cash | -1.330M | 3.650M |
| YoY Change | -127.71% | -3141.67% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $3.100M | $690.0K |
| Capital Expenditures | -$25.95M | -$26.80M |
| Free Cash Flow | $29.05M | $27.49M |
| YoY Change | 435.98% | -62.26% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
6582150 | shares |
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88500000 | |
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Secured Debt
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|
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Partners Capital
PartnersCapital
|
27708115 | |
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Cash And Cash Equivalents At Carrying Value
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|
7127764 | |
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Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
8192915 | shares |
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Business Acquisition Percentage Of Voting Interests Acquired
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|
0.716 | pure |
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Common Stock Shares Issued
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Dividends Payable Amount Per Share
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0.235 | |
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Common Stock Shares Authorized
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100000000 | shares |
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|
3 | Property |
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Common Stock Par Or Stated Value Per Share
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0.01 | |
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Long Term Debt Maturities Repayments Of Principal After Year Five
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114105621 | |
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Long Term Debt Maturities Repayments Of Principal In Year Three
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2020590 | |
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Minority Interest In Operating Partnerships
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Real Estate Investment Property Accumulated Depreciation
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|
10949359 | |
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Additional Paid In Capital
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|
45121480 | |
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Security Deposit Liability
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|
1861194 | |
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Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
|
155000000 | |
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Partners Capital Including Portion Attributable To Noncontrolling Interest
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57290432 | |
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Secured Debt
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Dividends Payable Current And Noncurrent
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Stockholders Equity
StockholdersEquity
|
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|
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Retained Earnings Accumulated Deficit
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Common Stock Value
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229254469 | |
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Long Term Debt Maturities Repayments Of Principal In Year Two
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Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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|
3025920 | |
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Number Of Properties Acquired
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|
6 | Property |
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Earn Out Liabilities
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|
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Deferred Costs Leasing Net
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25281548 | |
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Derivative Instruments In Hedges At Fair Value Net
DerivativeInstrumentsInHedgesAtFairValueNet
|
0 | |
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Additional Area Occupied Under Operating Lease
AdditionalAreaOccupiedUnderOperatingLease
|
40000 | sqft |
| CY2014Q2 | cio |
Percentage Of Outstanding Operating Partnership Units
PercentageOfOutstandingOperatingPartnershipUnits
|
0.284 | pure |
| CY2014Q2 | cio |
Percentage Of Future Minimum Lease Payment
PercentageOfFutureMinimumLeasePayment
|
0.474 | pure |
| CY2014Q2 | cio |
Estimated Fair Value Of Earn Out Liability
EstimatedFairValueOfEarnOutLiability
|
7100000 | |
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Finitelived Intangible Assets Amortization Expected To Be Recognized Net
FinitelivedIntangibleAssetsAmortizationExpectedToBeRecognizedNet
|
24589463 | |
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Deferred Finance Costs Net
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|
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Prepaid Expense And Other Assets
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|
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Liabilities
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Deferred Rent Credit
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|
438770 | |
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Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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|
516623 | |
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Long Term Debt Maturities Repayments Of Principal In Year Four
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|
2772027 | |
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Off Market Lease Unfavorable
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|
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Commitments And Contingencies
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|
||
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Finite Lived Intangible Assets Amortization Expense After Year Five
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|
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Operating Leases Future Minimum Payments Receivable In Four Years
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Real Estate Investment Property Net
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Tenant Improvements
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|
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Land
Land
|
57673760 | |
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Finite Lived Intangible Assets Amortization Expense Year Five
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|
1721733 | |
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Restricted Cash And Cash Equivalents
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Assets
Assets
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229254469 | |
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Real Estate Investment Property At Cost
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|
178044976 | |
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Operating Leases Future Minimum Payments Receivable Thereafter
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|
57764006 | |
| CY2014Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
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|
10175937 | |
| CY2014Q2 | us-gaap |
Furniture And Fixtures Gross
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|
198114 | |
| CY2014Q2 | us-gaap |
Operating Leases Future Minimum Payments Receivable
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|
163790812 | |
| CY2014Q2 | us-gaap |
Investment Building And Building Improvements
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|
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|
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Finite Lived Intangible Assets Amortization Expense Year Two
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|
6289564 | |
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Partners Capital
PartnersCapital
|
32058047 | |
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Shares Issued Price Per Share
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|
12.50 | |
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Number Of Properties Refinanced
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|
3 | Property |
| CY2014Q2 | us-gaap |
Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
|
0.183 | |
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|
5800000 | shares |
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Payments To Acquire Businesses Gross
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|
19400000 | |
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Payments For Underwriting Expense
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|
5100000 | |
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Proceeds From Issuance Initial Public Offering
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|
63400000 | |
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Gross Proceeds From Issuance Of Common Stock In Underwritten Public Offer
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|
72500000 | |
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Other Expenses Related To Initial Public Offering
OtherExpensesRelatedToInitialPublicOffering
|
4000000 | |
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Payments For Underwriting Expense
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|
700000 | |
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Payments For Repurchase Of Common Stock
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|
9100000 | |
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Proceeds From Issuance Initial Public Offering
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|
9100000 | |
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Gross Proceeds From Issuance Of Common Stock In Underwritten Public Offer
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|
9800000 | |
| CY2014Q2 | cio |
Stock Issued During Period Shares Issued To Underwriters Under Over Allotment Option
StockIssuedDuringPeriodSharesIssuedToUnderwritersUnderOverAllotmentOption
|
782150 | shares |
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|
3905445 | ||
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Profit Loss
ProfitLoss
|
1944487 | ||
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Partners Capital Account Distributions
PartnersCapitalAccountDistributions
|
1500000 | ||
| dei |
Trading Symbol
TradingSymbol
|
CIO | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
City Office REIT, Inc. | ||
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|
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Entity Filer Category
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|
Non-accelerated Filer | ||
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2014 | ||
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|
10-Q | ||
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|
2014-06-30 | ||
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Entity Incorporation Date Of Incorporation
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|
2013-11-26 | ||
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0001593222 | ||
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--12-31 | ||
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Q2 | ||
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|
3251904 | shares | |
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Common Stock Dividends Per Share Declared
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|
0.18 | ||
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Fair Value Inputs Discount Rate
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|
0.08 | pure | |
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Nature Of Operations
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>1. Organization and Description of Business</b></p> <!-- xbrl,body --> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> City Office REIT, Inc. (the “Company”) was organized in the state of Maryland on November 26, 2013. On April 21, 2014, the Company completed its initial public offering (“IPO”) of shares of the Company’s common stock. The Company contributed the net proceeds of the IPO to City Office REIT Operating Partnership, L.P., a Maryland limited partnership (the “Operating Partnership”), in exchange for common units in the Operating Partnership. Both the Company and the Operating Partnership commenced operations upon completion of the IPO and certain related formation transactions (the “Formation Transactions”).</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company’s interest in the Operating Partnership entitles the Company to share in distributions from, and allocations of profits and losses of, the Operating Partnership in proportion to the Company’s percentage ownership of common units. As the sole general partner of the Operating Partnership, the Company has the exclusive power under the partnership agreement to manage and conduct the Operating Partnership’s business, subject to limited approval and voting rights of the limited partners.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> City Office REIT, Inc. Predecessor (the “Predecessor”) represents the combination of the six properties outlined below (the “Properties”). The Predecessor does not represent a legal entity. The Predecessor and its related assets and liabilities are under common control and were contributed to a newly formed Operating Partnership in connection with the “IPO” of the Company on April 21, 2014.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The historical financial results in these financial statements for periods prior to April 21, 2014 relate to the Predecessor. The Predecessor is comprised of the following properties:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"><b>City Center</b>: Property in St. Petersburg, Florida, acquired in December 2010.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"><b>Central Fairwinds</b>: Property in Orlando, Florida, acquired in May 2012.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"><b>AmberGlen</b>: Property in Portland, Oregon, acquired in December 2009.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"><b>Washington Group Plaza</b>: Property in downtown Boise, Idaho, acquired in June 2013.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"><b>Corporate Parkway</b>: Property in Allentown, Pennsylvania, acquired in May 2013.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%"> </td> <td valign="top" width="2%" align="left">•</td> <td valign="top" width="1%"> </td> <td valign="top" align="left"><b>Cherry Creek</b>: Property in Denver, Colorado, acquired in January 2014.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company intends to elect to be taxed and to operate in a manner that will allow it to qualify as a real estate investment trust (“REIT”) commencing with its taxable year ending December 31, 2014. Subject to qualification as a REIT, the Company will be permitted to deduct distributions paid to its stockholders, eliminating the U.S. federal taxation of income represented by such distributions at the Company level. REITs are subject to a number of organizational and operational requirements. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate tax rates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Pursuant to the Jumpstart Our Business Startups Act (the “JOBS Act”), the Company qualifies as an emerging growth company (“EGC”). An EGC may choose to take advantage of the extended private company transition period provided for complying with new or revised accounting standards that may be issued by the Financial Accounting Standards Board (“FASB”) or the Securities and Exchange Commission (the “SEC”). The Company has elected to opt out of such extended transition period. This election is irrevocable.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Initial Public Offering and Formation Transactions</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The Company’s operations will be carried on primarily through the Operating Partnership and wholly owned subsidiaries of the Operating Partnership. Both the Company and the Operating Partnership commenced operations upon completion of the IPO and certain related formation transactions (the “Formation Transactions”).</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> On April 21, 2014, the Company closed the IPO, pursuant to which it sold 5,800,000 shares of common stock to the public at a public offering price of $12.50 per share. The Company raised $72.5 million in gross proceeds, resulting in net proceeds to us of approximately $63.4 million after deducting approximately $5.1 million in underwriting discounts and approximately $4.0 million in other expenses relating to the IPO. On May 9, 2014, the underwriters of the IPO exercised their overallotment option to purchase an additional 782,150 shares of the Company’s common stock at the IPO price of $12.50 a share resulting in additional gross proceeds of approximately $9.8 million. The net proceeds to the Company were $9.1 million after deducting approximately $0.7 million in underwriting discounts. The Company’s common stock began trading on the New York Stock Exchange under the symbol “CIO” on April 15, 2014.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> The Company contributed the net proceeds of the IPO to the Operating Partnership in exchange for common units in the Operating Partnership. The Operating Partnership utilized a portion of the net proceeds of the IPO to pay fees in connection with the assumption of the indebtedness, pay expenses incurred in connection with the IPO and Formation Transactions and repay loans that were made to several of the contributing entities by certain investors in such entities. The remaining funds are expected to be used for general working capital purposes and to fund potential future acquisitions.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Pursuant to the Formation Transactions and exercise of the underwriters’ overallotment option, the Operating Partnership acquired a 100% interest in each of the Washington Group Plaza, Cherry Creek and Corporate Parkway properties and acquired an approximate 76% economic interest in the AmberGlen property, 90% interest in the Central Fairwinds property and 95% interest in the City Center property. These initial property interests were contributed in exchange for 3,731,209 common units, 1,610,765 common stock and $19.4 million of cash. On May 9, 2014, subsequent to the exercise of the underwriters’ overallotment option, 479,305 common units and 248,095 common stock were redeemed for $9.1 million in cash.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> In connection with the IPO and Formation Transactions, the Company, through its Operating Partnership, extinguished the loan on the Central Fairwinds property and completed a refinancing of three properties (Cherry Creek, City Center and Corporate Parkway) with a new $95 million non-recourse mortgage loan and proceeds from the IPO. The loan bears a fixed interest rate of 4.34% and matures on May 6, 2021.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The following is a summary of the Predecessor Statement of Operations for the period from April 1, 2014 through April 20, 2014 and for the period from January 1, 2014 through April 20, 2014, and the Company’s Statement of Operations for the period from April 21, 2014 through June 30, 2014. These amounts are included in the condensed consolidated and combined statement of operations herein for the three and six months ended June 30, 2014. All balances as of December 31, 2013 and for the three and six months ended June 30, 2013 are those of the Predecessor.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt">  </p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="61%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="6" align="center"><b>Predecessor</b></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"><b>City Office REIT, Inc.</b></td> <td valign="bottom"> </td> </tr> <tr style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"> <b>April 1, 2014 through</b><br /> <b>April 20, 2014</b></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"> <b>January 1, 2014 through</b><br /> <b>April 20, 2014</b></td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td style="BORDER-BOTTOM: rgb(0,0,0) 1pt solid" valign="bottom" colspan="2" align="center"> <b>April 21, 2014 through<br /> June 30, 2014</b></td> <td valign="bottom"> </td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> <b>Revenues:</b></p> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Rental income</p> </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,628,480</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,865,238</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,085,796</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Expense reimbursement</p> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">105,569</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">555,611</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">397,203</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Other</p> </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">47,198</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">342,859</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"> </td> <td valign="bottom"> </td> <td valign="bottom" align="right">128,963</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 7em; TEXT-INDENT: -1em"> <b>Total Revenues</b></p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>1,781,247</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>9,763,708</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>6,611,962</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> <b>Operating Expenses:</b></p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Property operating expenses</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">510,431</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,764,893</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,757,182</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Insurance</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">23,570</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">176,428</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">145,998</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Property taxes</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">136,684</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">597,788</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">424,524</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Property management fees</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">27,265</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">234,882</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">158,896</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Acquisition costs</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">806,344</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">343,803</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Base management fees</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">185,176</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Stock based compensation</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">285,142</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> General and administrative</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">29,799</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">79,799</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">334,504</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Depreciation and amortization</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">701,962</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,861,939</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,713,845</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 7em; TEXT-INDENT: -1em"> <b>Total Operating Expenses</b></p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>1,429,711</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>8,522,073</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>6,349,070</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Operating income</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">351,536</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,241,635</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">262,892</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Interest expense, net</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(610,378</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(3,771,792</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(2,966,616</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Change in fair value of earn-out</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(104,865</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Gain on equity investment</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,474,644</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> <b>Net (Loss)/Income</b></p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>(258,842</b></td> <td valign="bottom" nowrap="nowrap"><b>) </b></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>1,944,487</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>(2,808,589</b></td> <td valign="bottom" nowrap="nowrap"><b>) </b></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net Loss attributable to noncontrolling interests in properties</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">18,785</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">28,710</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">50,260</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net (Loss)/Income attributable to Predecessor</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(240,057</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,973,197</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td> </td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net loss attributable to Operating Partnership noncontrolling interests</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">814,127</td> <td valign="bottom" nowrap="nowrap">  </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 1px solid"> </p> </td> <td> </td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net loss attributable to Stockholders</p> </td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font style="FONT-SIZE: 8pt"> </font></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,944,202</td> <td valign="bottom" nowrap="nowrap">) </td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> <td valign="bottom"> <p style="BORDER-TOP: rgb(0,0,0) 3px double"> </p> </td> </tr> </table> </div> | ||
| us-gaap |
Operations Commenced Date1
OperationsCommencedDate1
|
2014-04-21 | ||
| us-gaap |
Units Of Partnership Interest Description
UnitsOfPartnershipInterestDescription
|
Beginning on or after the date which is 12 months after the later of the completion of this offering or the date on which a person first became a holder of common units, each limited partner and assignees of limited partners will have the right, subject to the terms and conditions set forth in the partnership agreement, to require the Operating Partnership to redeem all or a portion of the common units held by such limited partner or assignee in exchange for a cash amount per common unit equal to the value of one share of common stock, determined in accordance with and subject to adjustment under the partnership agreement. The Company has the sole option at its discretion to redeem the common units by issuing common stock on a one for one basis. | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8057521 | shares | |
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
2883844 | ||
| us-gaap |
Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
|
2014-07-17 | ||
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.24 | ||
| us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
1263580 | shares | |
| us-gaap |
Property Management Fee Percent Fee Description
PropertyManagementFeePercentFeeDescription
|
Fee ranging from 1.75% to 3.5% of gross revenue | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3251904 | shares | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the combined financial statements and the reported amounts of revenues and expenses during the period. Such estimates are based on management’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from management’s estimates.</p> </div> | ||
| us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
5800000 | shares | |
| us-gaap |
Tenant Reimbursements
TenantReimbursements
|
952814 | ||
| us-gaap |
Revenues
Revenues
|
16375669 | ||
| us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-6738407 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1944202 | ||
| us-gaap |
Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
|
1297485 | ||
| us-gaap |
Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
|
649192 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-864102 | ||
| us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-1654826 | ||
| us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
2090373 | ||
| us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
161313968 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1504526 | ||
| us-gaap |
Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
|
37171675 | ||
| us-gaap |
Straight Line Rent
StraightLineRent
|
834229 | ||
| us-gaap |
Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
|
434854 | ||
| us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
17989533 | ||
| us-gaap |
Interest Paid
InterestPaid
|
4605306 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
773075 | ||
| us-gaap |
Other Income
OtherIncome
|
471822 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
1973197 | ||
| us-gaap |
Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
|
4474644 | ||
| us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Unrealized Gains Included In Earnings
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnobservableInputUnrealizedGainsIncludedInEarnings
|
400000 | ||
| us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
14951033 | ||
| us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
5441540 | ||
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
3290364 | ||
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
414303 | ||
| us-gaap |
Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
|
170400000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
39738011 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1049848 | ||
| us-gaap |
Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
|
243569 | ||
| us-gaap |
Real Estate Insurance
RealEstateInsurance
|
322426 | ||
| us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
153000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
285142 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
6575784 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
3048173 | ||
| us-gaap |
Amortization Of Deferred Charges
AmortizationOfDeferredCharges
|
1970837 | ||
| us-gaap |
Increase Decrease In Other Deposits
IncreaseDecreaseInOtherDeposits
|
499554 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-39573682 | ||
| us-gaap |
Debt Issuance Costs
DebtIssuanceCosts
|
3537811 | ||
| us-gaap |
Interest Expense
InterestExpense
|
3954535 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
72470455 | ||
| us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
62000 | ||
| us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
1150147 | ||
| us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
63400000 | ||
| us-gaap |
Real Estate Tax Expense
RealEstateTaxExpense
|
1022312 | ||
| us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Unrealized Losses Included In Earnings
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnobservableInputUnrealizedLossesIncludedInEarnings
|
400000 | ||
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1129046 | ||
| us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
-814127 | ||
| us-gaap |
Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
|
-78970 | ||
| us-gaap |
Dividends
Dividends
|
2100000 | ||
| us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
4522074 | ||
| us-gaap |
Asset Management Costs
AssetManagementCosts
|
393779 | ||
| us-gaap |
Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
|
3843445 | ||
| us-gaap |
Operating Expenses
OperatingExpenses
|
14871143 | ||
| us-gaap |
Partners Capital Account Distributions
PartnersCapitalAccountDistributions
|
1347000 | ||
| us-gaap |
Management Fee Expense
ManagementFeeExpense
|
185176 | ||
| cio |
Operating Expenses Per Square Foot
OperatingExpensesPerSquareFoot
|
4 | ||
| cio |
Formation Transaction Expenses
FormationTransactionExpenses
|
35244570 | ||
| cio |
Change In Fair Value Of Earn Out Liability
ChangeInFairValueOfEarnOutLiability
|
104865 | ||
| cio |
Percentage Of Reit Taxable Income Distributed To Stockholders
PercentageOfReitTaxableIncomeDistributedToStockholders
|
0.90 | pure | |
| cio |
Initial Public Offering Closure Date
InitialPublicOfferingClosureDate
|
2014-04-21 | ||
| cio |
Operating Lease Space Occupied Percentage
OperatingLeaseSpaceOccupiedPercentage
|
0.67 | pure | |
| cio |
Net Proceeds From Initial Public Offering By Underwriters
NetProceedsFromInitialPublicOfferingByUnderwriters
|
9100000 | ||
| cio |
Stock Issued During Period Shares Issued To Underwriters Under Over Allotment Option
StockIssuedDuringPeriodSharesIssuedToUnderwritersUnderOverAllotmentOption
|
782150 | shares | |
| cio |
Impact On Net Income Loss
ImpactOnNetIncomeLoss
|
0 | ||
| cio |
Rent Per Square Foot
RentPerSquareFoot
|
14 | ||
| cio |
Additions To Real Estate Properties
AdditionsToRealEstateProperties
|
1967153 | ||
| cio |
Accrued Dividend Payable
AccruedDividendPayable
|
2094400 | ||
| cio |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Gains Losses Included In Earnings Net Percentage
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnobservableInputGainsLossesIncludedInEarningsNetPercentage
|
0.10 | pure | |
| CY2014Q2 | us-gaap |
Tenant Reimbursements
TenantReimbursements
|
397203 | |
| CY2014Q2 | us-gaap |
Revenues
Revenues
|
6611962 | |
| CY2014Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1944202 | |
| CY2014Q2 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
285142 | |
| CY2014Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-2808589 | |
| CY2014Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
262892 | |
| CY2014Q2 | us-gaap |
Other Income
OtherIncome
|
128963 | |
| CY2014Q2 | us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
6085796 | |
| CY2014Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
72470465 | |
| CY2014Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-50260 | |
| CY2014Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
334504 | |
| CY2014Q2 | us-gaap |
Real Estate Insurance
RealEstateInsurance
|
145998 | |
| CY2014Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
285142 | |
| CY2014Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
2713845 | |
| CY2014Q2 | us-gaap |
Interest Expense
InterestExpense
|
2966616 | |
| CY2014Q2 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
343803 | |
| CY2014Q2 | us-gaap |
Real Estate Tax Expense
RealEstateTaxExpense
|
424524 | |
| CY2014Q2 | us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
814127 | |
| CY2014Q2 | us-gaap |
Dividends
Dividends
|
2094400 | |
| CY2014Q2 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
1757182 | |
| CY2014Q2 | us-gaap |
Asset Management Costs
AssetManagementCosts
|
158896 | |
| CY2014Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
6349070 | |
| CY2014Q2 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
185176 | |
| CY2014Q2 | cio |
Formation Transaction Expenses
FormationTransactionExpenses
|
42049949 | |
| CY2014Q2 | cio |
Change In Fair Value Of Earn Out Liability
ChangeInFairValueOfEarnOutLiability
|
104865 | |
| CY2014Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.18 | |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8057521 | shares |
| CY2014Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.24 | |
| CY2014Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
614428 | |
| CY2014Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3251904 | shares |
| CY2014Q2 | us-gaap |
Tenant Reimbursements
TenantReimbursements
|
502772 | |
| CY2014Q2 | us-gaap |
Revenues
Revenues
|
8393209 | |
| CY2014Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-3576993 | |
| CY2014Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1944202 | |
| CY2014Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-3067430 | |
| CY2014Q2 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-1654826 | |
| CY2014Q2 | us-gaap |
Other Income
OtherIncome
|
176162 | |
| CY2014Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-240057 | |
| CY2014Q2 | us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
7714275 | |
| CY2014Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
364303 | |
| CY2014Q2 | us-gaap |
Real Estate Insurance
RealEstateInsurance
|
169568 | |
| CY2014Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
285142 | |
| CY2014Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
3415807 | |
| CY2014Q2 | us-gaap |
Interest Expense
InterestExpense
|
1785288 | |
| CY2014Q2 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
343803 | |
| CY2014Q2 | us-gaap |
Real Estate Tax Expense
RealEstateTaxExpense
|
561208 | |
| CY2014Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
136879 | |
| CY2014Q2 | us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
-814127 | |
| CY2014Q2 | us-gaap |
Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
|
-69044 | |
| CY2014Q2 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
2267612 | |
| CY2014Q2 | us-gaap |
Asset Management Costs
AssetManagementCosts
|
186162 | |
| CY2014Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
7778781 | |
| CY2014Q2 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
185176 | |
| CY2014Q2 | cio |
Change In Fair Value Of Earn Out Liability
ChangeInFairValueOfEarnOutLiability
|
104865 |
