2015 Q1 Form 10-K Financial Statement
#000119312515102141 Filed on March 24, 2015
Income Statement
Concept | 2015 Q1 | 2014 Q2 | 2014 |
---|---|---|---|
Revenue | $11.26M | $8.393M | $36.90M |
YoY Change | 41.16% | 90.36% | 79.98% |
Cost Of Revenue | $4.450M | $2.640M | $15.00M |
YoY Change | 80.89% | 94.12% | 76.47% |
Gross Profit | $6.810M | $5.750M | $21.90M |
YoY Change | 23.37% | 89.14% | 82.5% |
Gross Profit Margin | 60.48% | 68.51% | 59.36% |
Selling, General & Admin | $820.0K | $1.210M | $2.400M |
YoY Change | 60.78% | 384.0% | |
% of Gross Profit | 12.04% | 21.04% | 10.96% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $4.410M | $3.420M | $14.73M |
YoY Change | 39.56% | 113.75% | 89.33% |
% of Gross Profit | 64.76% | 59.48% | 67.26% |
Operating Expenses | $9.880M | $7.779M | $34.28M |
YoY Change | 158.64% | 296.88% | 345.21% |
Operating Profit | $1.379M | $614.4K | $2.615M |
YoY Change | -18.88% | -43.11% | -39.19% |
Interest Expense | $2.178M | $1.785M | $7.854M |
YoY Change | 66.26% | -273.33% | -257.08% |
% of Operating Profit | 157.94% | 290.56% | 300.34% |
Other Income/Expense, Net | $0.00 | ||
YoY Change | -100.0% | ||
Pretax Income | -$800.0K | -$3.070M | -$4.900M |
YoY Change | -136.36% | 116.2% | 16.67% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$743.0K | -$240.1K | -$1.973M |
YoY Change | -133.71% | -83.12% | -51.88% |
Net Earnings / Revenue | -6.6% | -2.86% | -5.35% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$60.26K | -$260.8K | -$352.9K |
COMMON SHARES | |||
Basic Shares Outstanding | 12.28M shares | 6.582M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2015 Q1 | 2014 Q2 | 2014 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $24.00M | $10.20M | $34.90M |
YoY Change | 269.23% | 391.55% | |
Cash & Equivalents | $23.99M | $10.18M | $34.90M |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | $9.252M | $6.288M | |
Other Receivables | |||
Total Short-Term Assets | $33.30M | $16.50M | $42.90M |
YoY Change | 177.5% | 263.56% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $219.4M | $167.1M | $211.8M |
YoY Change | 51.52% | 111.59% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Other Assets | $15.00M | $18.00M | $16.60M |
YoY Change | -17.13% | 30.71% | |
Total Long-Term Assets | $263.3M | $212.8M | $258.6M |
YoY Change | -2294.29% | 97.1% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $33.30M | $16.50M | $42.90M |
Total Long-Term Assets | $263.3M | $212.8M | $258.6M |
Total Assets | $296.6M | $229.3M | $301.5M |
YoY Change | 29659200.0% | 110.84% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.900M | $4.800M | $4.100M |
YoY Change | -30.36% | 78.26% | |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.900M | $4.800M | $4.100M |
YoY Change | -30.36% | 78.26% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $189.7M | $155.0M | $189.9M |
YoY Change | 19.01% | 72.79% | |
Other Long-Term Liabilities | $15.80M | $12.10M | $16.30M |
YoY Change | 464.29% | 443.33% | |
Total Long-Term Liabilities | $205.5M | $167.1M | $206.2M |
YoY Change | 26.7% | 82.64% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.900M | $4.800M | $4.100M |
Total Long-Term Liabilities | $205.5M | $167.1M | $206.2M |
Total Liabilities | $209.4M | $172.0M | $221.4M |
YoY Change | 24.13% | 90.21% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$15.63M | -$3.444M | |
YoY Change | |||
Common Stock | $91.84M | $81.94K | |
YoY Change | 918399900.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $76.21M | $41.76M | $80.10M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $296.6M | $229.3M | $301.5M |
YoY Change | 48.52% | 110.84% |
Cashflow Statement
Concept | 2015 Q1 | 2014 Q2 | 2014 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$743.0K | -$240.1K | -$1.973M |
YoY Change | -133.71% | -83.12% | -51.88% |
Depreciation, Depletion And Amortization | $4.410M | $3.420M | $14.73M |
YoY Change | 39.56% | 113.75% | 89.33% |
Cash From Operating Activities | $2.670M | $690.0K | $7.790M |
YoY Change | 21.92% | -48.51% | 7.75% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$10.91M | -$26.80M | -$93.72M |
YoY Change | -11.59% | -62.52% | 24.61% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$570.0K | -$360.0K | -$860.0K |
YoY Change | 714.29% | 140.0% | -960.0% |
Cash From Investing Activities | -$11.48M | -$27.16M | -$94.58M |
YoY Change | -7.49% | -62.1% | 25.92% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | $4.784M | ||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $9.100M | $72.47M | |
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -2.070M | 30.12M | 114.5M |
YoY Change | -121.52% | -57.09% | 59.29% |
NET CHANGE | |||
Cash From Operating Activities | 2.670M | 690.0K | 7.790M |
Cash From Investing Activities | -11.48M | -27.16M | -94.58M |
Cash From Financing Activities | -2.070M | 30.12M | 114.5M |
Net Change In Cash | -10.88M | 3.650M | 27.74M |
YoY Change | 1713.33% | -3141.67% | 590.05% |
FREE CASH FLOW | |||
Cash From Operating Activities | $2.670M | $690.0K | $7.790M |
Capital Expenditures | -$10.91M | -$26.80M | -$93.72M |
Free Cash Flow | $13.58M | $27.49M | $101.5M |
YoY Change | -6.54% | -62.26% | 23.13% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2014Q2 | cio |
Number Of Properties Refinanced
NumberOfPropertiesRefinanced
|
3 | Property |
CY2014Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
12.50 | |
CY2015Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
12279110 | shares |
CY2014Q2 | dei |
Entity Public Float
EntityPublicFloat
|
83200000 | |
CY2013Q4 | us-gaap |
Secured Debt
SecuredDebt
|
109916000 | |
CY2013Q4 | us-gaap |
Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
|
7735000 | |
CY2013Q4 | us-gaap |
Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
|
953065 | |
CY2013Q4 | us-gaap |
Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
|
88500000 | |
CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
7128000 | |
CY2013Q4 | us-gaap |
Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
|
107862000 | |
CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12279110 | shares |
CY2014 | us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
62000 | |
CY2014Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
12279110 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
|
189804000 | |
CY2014Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
211828000 | |
CY2014Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
832000 | |
CY2014Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
11093000 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
29391000 | |
CY2014Q4 | us-gaap |
Business Acquisition Percentage Of Voting Interests Acquired
BusinessAcquisitionPercentageOfVotingInterestsAcquired
|
0.808 | pure |
CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2014Q4 | us-gaap |
Number Of Real Estate Properties
NumberOfRealEstateProperties
|
3 | Property |
CY2014Q4 | us-gaap |
Secured Debt
SecuredDebt
|
189940000 | |
CY2014Q4 | us-gaap |
Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
|
15311000 | |
CY2014Q4 | us-gaap |
Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
|
11878000 | |
CY2014Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
123709000 | |
CY2014Q4 | us-gaap |
Partners Capital Including Portion Attributable To Noncontrolling Interest
PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
|
91235000 | |
CY2014Q4 | us-gaap |
Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
|
-754000 | |
CY2014Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
2918000 | |
CY2014Q4 | us-gaap |
Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
|
1496605 | |
CY2014Q4 | us-gaap |
Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
|
192500000 | |
CY2014Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
3571000 | |
CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
123000 | |
CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2014Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
4080000 | |
CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-11320000 | |
CY2014Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
25414000 | |
CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
80111000 | |
CY2014Q4 | us-gaap |
Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
|
606000 | |
CY2014Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
34783000 | |
CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
301506000 | |
CY2014Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
91308000 | |
CY2014Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
15311000 | |
CY2014Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
1082000 | |
CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
210271000 | |
CY2014Q4 | us-gaap |
Deferred Rent Credit
DeferredRentCredit
|
2212000 | |
CY2014Q4 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
1862000 | |
CY2014Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
2034000 | |
CY2014Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
189940000 | |
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
34862000 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
2862000 | |
CY2014Q4 | us-gaap |
Furniture And Fixtures Gross
FurnitureAndFixturesGross
|
198000 | |
CY2014Q4 | us-gaap |
Land
Land
|
66204000 | |
CY2014Q4 | us-gaap |
Other Receivables
OtherReceivables
|
7396000 | |
CY2014Q4 | us-gaap |
Billed Contract Receivables
BilledContractReceivables
|
585000 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
2654000 | |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
|
20544000 | |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
|
23964000 | |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
|
59872000 | |
CY2014Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
2901000 | |
CY2014Q4 | us-gaap |
Derivative Instruments In Hedges At Fair Value Net
DerivativeInstrumentsInHedgesAtFairValueNet
|
0 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
5537000 | |
CY2014Q4 | us-gaap |
Assets
Assets
|
301506000 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
6589000 | |
CY2014Q4 | us-gaap |
Tenant Improvements
TenantImprovements
|
27773000 | |
CY2014Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
7981000 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
7097000 | |
CY2014Q4 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
132964000 | |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
|
16202000 | |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
|
31504000 | |
CY2014Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
227139000 | |
CY2014Q4 | us-gaap |
Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
|
227139000 | |
CY2014Q4 | us-gaap |
Deferred Costs Leasing Net
DeferredCostsLeasingNet
|
2618000 | |
CY2014Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
4046000 | |
CY2014Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
|
37718000 | |
CY2014Q4 | cio |
Percentage Of Future Minimum Lease Payment
PercentageOfFutureMinimumLeasePayment
|
0.398 | pure |
CY2014Q4 | cio |
Number Of Properties Acquired
NumberOfPropertiesAcquired
|
6 | Property |
CY2014Q4 | cio |
Earn Out Liabilities
EarnOutLiabilities
|
8000000 | |
CY2014Q4 | cio |
Percentage Of Outstanding Operating Partnership Units
PercentageOfOutstandingOperatingPartnershipUnits
|
0.192 | pure |
CY2014Q4 | cio |
Additional Area Occupied Under Operating Lease
AdditionalAreaOccupiedUnderOperatingLease
|
14000 | sqft |
CY2014Q4 | cio |
Estimated Fair Value Of Earn Out Liability
EstimatedFairValueOfEarnOutLiability
|
8000000 | |
CY2014Q4 | cio |
Finitelived Intangible Assets Amortization Expected To Be Recognized Net
FinitelivedIntangibleAssetsAmortizationExpectedToBeRecognizedNet
|
28785000 | |
CY2014Q2 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
782150 | shares |
CY2014Q2 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
9100000 | |
CY2014Q2 | us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
700000 | |
CY2014Q2 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
9100000 | |
CY2014Q2 | cio |
Gross Proceeds From Issuance Of Common Stock In Underwritten Public Offer
GrossProceedsFromIssuanceOfCommonStockInUnderwrittenPublicOffer
|
9800000 | |
CY2014Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
5800000 | shares |
CY2014Q2 | us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
19400000 | |
CY2014Q2 | us-gaap |
Payments For Underwriting Expense
PaymentsForUnderwritingExpense
|
5100000 | |
CY2014Q2 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
63400000 | |
CY2014Q2 | cio |
Gross Proceeds From Issuance Of Common Stock In Underwritten Public Offer
GrossProceedsFromIssuanceOfCommonStockInUnderwrittenPublicOffer
|
72500000 | |
CY2014Q2 | cio |
Other Expenses Related To Initial Public Offering
OtherExpensesRelatedToInitialPublicOffering
|
4000000 | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
72471000 | ||
us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-7180000 | ||
us-gaap |
Tenant Reimbursements
TenantReimbursements
|
2314000 | ||
us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
1091000 | ||
us-gaap |
Profit Loss
ProfitLoss
|
-6854000 | ||
us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
24371000 | ||
us-gaap |
Other Income
OtherIncome
|
448000 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1374000 | ||
us-gaap |
Revenues
Revenues
|
27133000 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5010000 | ||
us-gaap |
Dividends
Dividends
|
8355000 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
25759000 | ||
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
10867000 | ||
us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
10557000 | ||
us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
1327000 | ||
us-gaap |
Management Fee Expense
ManagementFeeExpense
|
682000 | ||
us-gaap |
Partners Capital Account Distributions
PartnersCapitalAccountDistributions
|
171000 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1235000 | ||
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
111000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1091000 | ||
us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
-1955000 | ||
cio |
Formation Transaction Expenses
FormationTransactionExpenses
|
42620000 | ||
cio |
Change In Fair Value Of Earn Out Liability
ChangeInFairValueOfEarnOutLiability
|
1048000 | ||
CY2013 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | |
CY2013 | cio |
Aggregate Cash Distributions Paid
AggregateCashDistributionsPaid
|
3600000 | |
CY2014 | dei |
Document Type
DocumentType
|
10-K | |
CY2014 | dei |
Entity Registrant Name
EntityRegistrantName
|
City Office REIT, Inc. | |
CY2014 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2014 | dei |
Trading Symbol
TradingSymbol
|
CIO | |
CY2014 | us-gaap |
Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
|
2915709 | shares |
CY2014 | us-gaap |
Fair Value Inputs Discount Rate
FairValueInputsDiscountRate
|
0.08 | pure |
CY2014 | us-gaap |
Operations Commenced Date1
OperationsCommencedDate1
|
2014-04-21 | |
CY2014 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2014 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2013-11-26 | |
CY2014 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2014 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <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; TEXT-INDENT: 4%"> 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; TEXT-INDENT: 4%"> 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; TEXT-INDENT: 4%"> 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; TEXT-INDENT: 4%"> 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; TEXT-INDENT: 4%"> The Company intends to elect to be taxed and to continue 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 dividend 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 and state income tax on its taxable income at regular corporate tax rates and any applicable alternative minimum tax.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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><i>Initial Public Offering and Formation Transactions</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company’s operations are 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.</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; TEXT-INDENT: 4%"> 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: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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 were used for general working capital purposes and to fund acquisitions.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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, 1,858,860 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; TEXT-INDENT: 4%"> 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: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> The following is a summary of the Predecessor Statements of Operations 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 December 31, 2014. These amounts are included in the consolidated and combined statement of operations herein for the year ended December 31, 2014. All balances as of December 31, 2013 and December 31, 2012 are those of the Predecessor.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <i>(in thousands)</i></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="92%" align="center" border="0"><!-- Begin Table Head --> <tr> <td width="92%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></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="2" 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>January 1, 2014<br /> through April 20,<br /> 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 /> December 31, 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> </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"> Rental income</p> </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">8,865</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom">$</td> <td valign="bottom" align="right">24,371</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: 3em; TEXT-INDENT: -1em"> Expense reimbursement</p> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">555</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">2,314</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: 3em; TEXT-INDENT: -1em"> Other</p> </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">343</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom">  </td> <td valign="bottom"> </td> <td valign="bottom" align="right">448</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> </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"> <b>Total Revenues</b></p> </td> <td valign="bottom"></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>9,763</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>27,133</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> </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"></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" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Property operating expenses</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,775</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,557</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: 3em; TEXT-INDENT: -1em"> Acquisition costs</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">806</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,327</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: 3em; TEXT-INDENT: -1em"> Stock-based compensation</p> </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,091</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: 3em; TEXT-INDENT: -1em"> General and administrative</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">79</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,235</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: 3em; TEXT-INDENT: -1em"> Base management fees</p> </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">682</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: 3em; TEXT-INDENT: -1em"> Depreciation and amortization</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">3,862</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">10,867</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> </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"> <b>Total Operating Expenses</b></p> </td> <td valign="bottom"></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>8,522</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>25,759</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> </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"> Operating income</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,241</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,374</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"> Interest expense, net</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(3,772</td> <td valign="bottom" nowrap="nowrap">) </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(7,180</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"> Change in fair value of earn-out</p> </td> <td valign="bottom"></td> <td valign="bottom" nowrap="nowrap"> </td> <td valign="bottom" nowrap="nowrap" align="right"> —  </td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(1,048</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"> Gain on equity investment</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">4,475</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></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> </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>Net income / (loss)</b></p> </td> <td valign="bottom"></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>1,944</b></td> <td valign="bottom" nowrap="nowrap"><b>  </b></td> <td valign="bottom"></td> <td valign="bottom"><b> </b></td> <td valign="bottom" align="right"><b>(6,854</b></td> <td valign="bottom" nowrap="nowrap"><b>) </b></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 non-controlling interests in properties</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">29</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">(111</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"></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 income attributable to Predecessor</p> </td> <td valign="bottom"></td> <td valign="bottom"> </td> <td valign="bottom" align="right">1,973</td> <td valign="bottom" nowrap="nowrap">  </td> <td valign="bottom"></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"></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 attributable to Operating Partnership unitholders’ non-controlling interests</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" align="right">1,955</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"> <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: 3em; TEXT-INDENT: -1em"> Net loss attributable to stockholders</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" align="right">(5,010</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"> <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> | |
CY2014 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
7787000 | |
CY2014 | us-gaap |
Property Management Fee Percent Fee Description
PropertyManagementFeePercentFeeDescription
|
Fee ranging from 1.75% to 3.5% of gross revenue | |
CY2014 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
5800000 | shares |
CY2014 | us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
1263580 | shares |
CY2014 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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 consolidated and combined financial statements and the reported amounts of revenues and expenses during the period. Significant items subject to such estimates and assumptions include allocation of the purchase price of acquired real estate properties among tangible and intangible assets, and determination of the useful life of real estate properties and other long lived assets. 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> | |
CY2014 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
8475697 | shares |
CY2014 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-12-31 | |
CY2014 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2014 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2014 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | |
CY2014 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
782150 | shares |
CY2014 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001593222 | |
CY2014 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.653 | |
CY2014 | us-gaap |
Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
|
3844000 | |
CY2014 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.59 | |
CY2014 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2014 | 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. | |
CY2014 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2915709 | shares |
CY2014 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Concentration of Credit Risk</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company places its temporary cash investments in high credit financial institutions. However, a portion of temporary cash investments may exceed FDIC insured levels from time to time. The Company has never experienced any losses related to these balances.</p> </div> | |
CY2014 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2014 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
161837000 | |
CY2014 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-10952000 | |
CY2014 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
3725000 | |
CY2014 | us-gaap |
Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
|
4320000 | |
CY2014 | us-gaap |
Tenant Reimbursements
TenantReimbursements
|
2869000 | |
CY2014 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
4784000 | |
CY2014 | us-gaap |
Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
|
859000 | |
CY2014 | us-gaap |
Profit Loss
ProfitLoss
|
-4910000 | |
CY2014 | us-gaap |
Payments Of Capital Distribution
PaymentsOfCapitalDistribution
|
1347000 | |
CY2014 | us-gaap |
Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
|
6056000 | |
CY2014 | us-gaap |
Straight Line Rent
StraightLineRent
|
1315000 | |
CY2014 | us-gaap |
Other Income
OtherIncome
|
791000 | |
CY2014 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2615000 | |
CY2014 | us-gaap |
Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
|
4475000 | |
CY2014 | us-gaap |
Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
|
33236000 | |
CY2014 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
399000 | |
CY2014 | us-gaap |
Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
|
649192 | |
CY2014 | us-gaap |
Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
|
89565000 | |
CY2014 | us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
324000 | |
CY2014 | us-gaap |
Revenues
Revenues
|
36896000 | |
CY2014 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5010000 | |
CY2014 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1973000 | |
CY2014 | us-gaap |
Interest Paid
InterestPaid
|
7826000 | |
CY2014 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1986000 | |
CY2014 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-1655000 | |
CY2014 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Unrealized Gains Included In Earnings
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnobservableInputUnrealizedGainsIncludedInEarnings
|
100000 | |
CY2014 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
42865000 | |
CY2014 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
723000 | |
CY2014 | us-gaap |
Increase Decrease In Other Deposits
IncreaseDecreaseInOtherDeposits
|
500000 | |
CY2014 | us-gaap |
Interest Expense
InterestExpense
|
7854000 | |
CY2014 | us-gaap |
Operating Expenses
OperatingExpenses
|
34281000 | |
CY2014 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1443000 | |
CY2014 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
27734000 | |
CY2014 | us-gaap |
Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
|
-82000 | |
CY2014 | us-gaap |
Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
|
7576000 | |
CY2014 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
14729000 | |
CY2014 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
14332000 | |
CY2014 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-94580000 | |
CY2014 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
114527000 | |
CY2014 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
72471000 | |
CY2014 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1091000 | |
CY2014Q4 | us-gaap |
Revenues
Revenues
|
10529000 | |
CY2014 | us-gaap |
Real Estate Improvements
RealEstateImprovements
|
4156000 | |
CY2014 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
2133000 | |
CY2014 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
682000 | |
CY2014 | us-gaap |
Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
|
205860000 | |
CY2014 | us-gaap |
Real Estate Other Acquisitions
RealEstateOtherAcquisitions
|
115121000 | |
CY2014 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1314000 | |
CY2014 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-88000 | |
CY2014 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
63400000 | |
CY2014 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
15500000 | |
CY2014 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-15500000 | |
CY2014 | us-gaap |
Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
|
541000 | |
CY2014 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Unobservable Input Unrealized Losses Included In Earnings
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareUnobservableInputUnrealizedLossesIncludedInEarnings
|
100000 | |
CY2014 | us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
1955000 | |
CY2014 | cio |
Initial Public Offering Closure Date
InitialPublicOfferingClosureDate
|
2014-04-21 | |
CY2014 | cio |
Rent Per Square Foot
RentPerSquareFoot
|
14 | |
CY2014 | cio |
Formation Transaction Expenses
FormationTransactionExpenses
|
35245000 | |
CY2014 | cio |
Additions To Real Estate Properties
AdditionsToRealEstateProperties
|
4156000 | |
CY2014 | cio |
Aggregate Cash Distributions Paid
AggregateCashDistributionsPaid
|
4800000 | |
CY2014 | cio |
Operating Expenses Per Square Foot
OperatingExpensesPerSquareFoot
|
4 | |
CY2014 | cio |
Payments Of Debt Issuances And Debt Extinguishment Costs
PaymentsOfDebtIssuancesAndDebtExtinguishmentCosts
|
4063000 | |
CY2014 | cio |
Net Proceeds From Initial Public Offering By Underwriters
NetProceedsFromInitialPublicOfferingByUnderwriters
|
9100000 | |
CY2014 | cio |
Operating Lease Space Occupied Percentage
OperatingLeaseSpaceOccupiedPercentage
|
0.75 | pure |
CY2014 | cio |
Change In Fair Value Of Earn Out Liability
ChangeInFairValueOfEarnOutLiability
|
1048000 | |
CY2014Q4 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1299000 | |
CY2014 | cio |
Percentage Of Dividend Amount Paid To Stockholders
PercentageOfDividendAmountPaidToStockholders
|
0.90 | pure |
CY2014 | cio |
Impact On Net Income Loss
ImpactOnNetIncomeLoss
|
0 | |
CY2014 | cio |
Accrued Dividend Payable
AccruedDividendPayable
|
3571000 | |
CY2014 | 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 |
CY2014 | cio |
Gain Loss On Early Extinguishments Of Debt
GainLossOnEarlyExtinguishmentsOfDebt
|
-885000 | |
CY2014 | cio |
Proceeds From Secondary Public Offering Value
ProceedsFromSecondaryPublicOfferingValue
|
49671000 | |
CY2014 | cio |
Payment Of Capital Distribution Declared
PaymentOfCapitalDistributionDeclared
|
8400000 | |
CY2014 | cio |
Business Combination Pro Forma Property Acquisition Costs
BusinessCombinationProFormaPropertyAcquisitionCosts
|
2133000 | |
CY2013Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-76000 | |
CY2013Q1 | us-gaap |
Revenues
Revenues
|
3385000 | |
CY2014Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2204000 | |
CY2014Q1 | us-gaap |
Revenues
Revenues
|
7976000 | |
CY2013Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-1422000 | |
CY2013Q2 | us-gaap |
Revenues
Revenues
|
4409000 | |
CY2014Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.24 | |
CY2014Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-3067000 | |
CY2014Q2 | us-gaap |
Revenues
Revenues
|
8393000 | |
CY2014Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1944000 | |
CY2013Q3 | us-gaap |
Profit Loss
ProfitLoss
|
158000 | |
CY2013Q3 | us-gaap |
Revenues
Revenues
|
6832000 | |
CY2014Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.22 | |
CY2014Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-2374000 | |
CY2014Q3 | us-gaap |
Revenues
Revenues
|
9998000 | |
CY2014Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1767000 | |
CY2013Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-2837000 | |
CY2013Q4 | us-gaap |
Revenues
Revenues
|
5865000 | |
CY2014Q4 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.14 | |
CY2014Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-1673000 |