2016 Q4 Form 10-Q Financial Statement

#000119312516760879 Filed on November 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $21.30M $18.79M $14.62M
YoY Change 21.44% 28.56% 46.19%
Cost Of Revenue $8.530M $7.390M $5.840M
YoY Change 22.21% 26.54% 80.8%
Gross Profit $12.78M $11.41M $8.770M
YoY Change 20.91% 30.1% 29.73%
Gross Profit Margin 59.99% 60.72% 60.0%
Selling, General & Admin $1.890M $1.750M $1.070M
YoY Change 42.11% 63.55% -30.52%
% of Gross Profit 14.79% 15.34% 12.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.350M $7.760M $5.890M
YoY Change 36.9% 31.75% 45.43%
% of Gross Profit 73.16% 68.01% 67.16%
Operating Expenses $11.23M $17.15M $14.61M
YoY Change 37.62% 17.44% 55.32%
Operating Profit $1.550M $1.639M $10.00K
YoY Change -35.68% 16290.0% -98.32%
Interest Expense -$4.380M $3.521M $2.994M
YoY Change 6.05% 17.6% 60.36%
% of Operating Profit -282.58% 214.83% 29940.0%
Other Income/Expense, Net
YoY Change
Pretax Income -$3.190M -$1.880M -$2.980M
YoY Change 77.22% -36.91% 25.74%
Income Tax
% Of Pretax Income
Net Earnings -$3.193M -$1.944M -$2.499M
YoY Change 77.59% -22.21% 5.27%
Net Earnings / Revenue -14.99% -10.35% -17.1%
Basic Earnings Per Share -$0.08 -$0.20
Diluted Earnings Per Share -$135.2K -$0.08 -$0.20
COMMON SHARES
Basic Shares Outstanding 24.38M shares 23.88M shares 12.47M shares
Diluted Shares Outstanding 23.88M shares 12.47M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.70M $12.00M $10.50M
YoY Change 69.14% 14.29% 17.98%
Cash & Equivalents $13.70M $12.02M $10.52M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $17.26M $14.03M $12.68M
Other Receivables
Total Short-Term Assets $31.00M $26.00M $23.20M
YoY Change 37.78% 12.07% 42.33%
LONG-TERM ASSETS
Property, Plant & Equipment $550.3M $398.6M $356.5M
YoY Change 55.06% 11.81% 87.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.40M $21.60M $25.90M
YoY Change 5.42% -16.6% 39.25%
Total Long-Term Assets $630.5M $461.4M $428.1M
YoY Change 50.94% 7.78% 81.51%
TOTAL ASSETS
Total Short-Term Assets $31.00M $26.00M $23.20M
Total Long-Term Assets $630.5M $461.4M $428.1M
Total Assets $661.5M $487.4M $451.3M
YoY Change 50.27% 8.0% 78.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.00M $11.30M $10.60M
YoY Change 49.43% 6.6% 152.38%
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 $13.00M $11.30M $10.60M
YoY Change 49.43% 6.6% 152.38%
LONG-TERM LIABILITIES
Long-Term Debt $370.1M $302.8M $344.9M
YoY Change 8.44% -12.21% 92.04%
Other Long-Term Liabilities $22.40M $16.80M $17.00M
YoY Change 35.76% -1.18% 7.59%
Total Long-Term Liabilities $392.5M $319.6M $361.9M
YoY Change 9.7% -11.69% 85.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.00M $11.30M $10.60M
Total Long-Term Liabilities $392.5M $319.6M $361.9M
Total Liabilities $405.4M $330.8M $372.5M
YoY Change 10.63% -11.19% 86.6%
SHAREHOLDERS EQUITY
Retained Earnings -$53.61M -$42.80M -$25.10M
YoY Change 81.12% 70.48% 251.79%
Common Stock $195.8M $199.0M $94.94M
YoY Change 105.16% 109.65% 115779.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $254.2M $156.2M $69.84M
YoY Change
Total Liabilities & Shareholders Equity $661.5M $487.4M $451.3M
YoY Change 50.27% 8.0% 78.98%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$3.193M -$1.944M -$2.499M
YoY Change 77.59% -22.21% 5.27%
Depreciation, Depletion And Amortization $9.350M $7.760M $5.890M
YoY Change 36.9% 31.75% 45.43%
Cash From Operating Activities $6.360M $11.18M $6.880M
YoY Change 276.33% 62.5% 121.94%
INVESTING ACTIVITIES
Capital Expenditures -$175.4M $42.60M -$99.05M
YoY Change 8671.5% -143.01% 281.7%
Acquisitions
YoY Change
Other Investing Activities -$1.100M -$280.0K -$420.0K
YoY Change 214.29% -33.33% 200.0%
Cash From Investing Activities -$176.5M -$50.69M -$99.46M
YoY Change 7411.91% -49.03% 281.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 171.9M 43.88M 91.80M
YoY Change -10091.28% -52.2% 323.82%
NET CHANGE
Cash From Operating Activities 6.360M 11.18M 6.880M
Cash From Investing Activities -176.5M -50.69M -99.46M
Cash From Financing Activities 171.9M 43.88M 91.80M
Net Change In Cash 1.680M 4.370M -780.0K
YoY Change -170.59% -660.26% -41.35%
FREE CASH FLOW
Cash From Operating Activities $6.360M $11.18M $6.880M
Capital Expenditures -$175.4M $42.60M -$99.05M
Free Cash Flow $181.8M -$31.42M $105.9M
YoY Change 4826.56% -129.66% 264.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
24382226 shares
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
166788000
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
2010000
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10516000
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
21707000
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
24002000
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
88000
CY2015Q3 cio Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Lease Intangible Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseIntangibleLiabilities
2181000
CY2015Q3 cio Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tenant Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTenantImprovements
4817000
CY2015Q3 cio Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings And Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsAndImprovements
120365000
CY2016Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1900000
CY2016Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
71166000
CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
11270000
CY2016Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
306208000
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24382226 shares
CY2016Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
24382226 shares
CY2016Q3 us-gaap Assets
Assets
487429000
CY2016Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3439000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6832000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
10835000
CY2016Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1900000
CY2016Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
75073000
CY2016Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
220000
CY2016Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
198792000
CY2016Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
3280000
CY2016Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2050000
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
749000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12022000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4753000
CY2016Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1230000
CY2016Q3 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
4612000
CY2016Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14026000
CY2016Q3 us-gaap Common Stock Value
CommonStockValue
244000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2913000
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
7783000
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
12203000
CY2016Q3 us-gaap Deferred Rent Credit
DeferredRentCredit
4873000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7214000
CY2016Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3899000
CY2016Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
174000
CY2016Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5739000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
14915000
CY2016Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
432881000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
234600000
CY2016Q3 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
318400000
CY2016Q3 us-gaap Long Term Debt
LongTermDebt
302769000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
27154000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
38973000
CY2016Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32559000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
4463000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
48536000
CY2016Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
289311000
CY2016Q3 us-gaap Land
Land
98651000
CY2016Q3 us-gaap Liabilities
Liabilities
330832000
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
487429000
CY2016Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38607000
CY2016Q3 us-gaap Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
238000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
35668000
CY2016Q3 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
121000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
43189000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
799000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
120420000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3524000
CY2016Q3 us-gaap Tenant Improvements
TenantImprovements
44699000
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
156238000
CY2016Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
2120000
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
156597000
CY2016Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
34290000
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-42798000
CY2016Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
398591000
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
17009000
CY2016Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
2562000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
322571000
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
56538000
CY2016Q3 us-gaap Secured Debt
SecuredDebt
306208000
CY2016Q3 cio Below Market Ground Lease Net
BelowMarketGroundLeaseNet
111000
CY2016Q3 cio Below Market Ground Lease Gross
BelowMarketGroundLeaseGross
138000
CY2016Q3 cio Percentage Of Outstanding Operating Partnership Units
PercentageOfOutstandingOperatingPartnershipUnits
0.002 pure
CY2016Q3 cio Additional Area Occupied Under Operating Lease
AdditionalAreaOccupiedUnderOperatingLease
1500 sqft
CY2016Q3 cio Below Market Ground Lease Accumulated Amortization
BelowMarketGroundLeaseAccumulatedAmortization
27000
CY2016Q3 cio Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Lease Intangible Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseIntangibleLiabilities
353000
CY2016Q3 cio Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tenant Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTenantImprovements
5035000
CY2016Q3 cio Accumulated Amortization Of Intangible Lease Liabilities
AccumulatedAmortizationOfIntangibleLeaseLiabilities
1257000
CY2016Q3 cio Finite Lived Intangible Assets Amortization Expected To Be Recognized Net
FiniteLivedIntangibleAssetsAmortizationExpectedToBeRecognizedNet
36446000
CY2016Q3 cio Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings And Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsAndImprovements
50980000
CY2016Q3 cio Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
2161000
CY2016Q3 cio Intangible Lease Liabilities Gross
IntangibleLeaseLiabilitiesGross
3418000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34862000
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
67624000
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
8745000
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12517777 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12517777 shares
CY2015Q4 us-gaap Assets
Assets
440207000
CY2015Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3393000
CY2015Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
5678000
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
198000
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
95318000
CY2015Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2928000
CY2015Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2178000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8138000
CY2015Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
750000
CY2015Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
5074000
CY2015Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14382000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
125000
CY2015Q4 us-gaap Deferred Rent Credit
DeferredRentCredit
2653000
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
3663000
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
381789000
CY2015Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
285900000
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
341278000
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
26634000
CY2015Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
256317000
CY2015Q4 us-gaap Land
Land
90205000
CY2015Q4 us-gaap Liabilities
Liabilities
366487000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
440207000
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
40990000
CY2015Q4 us-gaap Partners Capital Attributable To Noncontrolling Interest
PartnersCapitalAttributableToNoncontrollingInterest
-675000
CY2015Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
8550000
CY2015Q4 us-gaap Tenant Improvements
TenantImprovements
35069000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
65845000
CY2015Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
2178000
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
73720000
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
26909000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-29598000
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
354880000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15176000
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1567000
CY2015Q4 us-gaap Secured Debt
SecuredDebt
344671000
CY2015Q4 cio Below Market Ground Lease Net
BelowMarketGroundLeaseNet
114000
CY2015Q4 cio Below Market Ground Lease Gross
BelowMarketGroundLeaseGross
138000
CY2015Q4 cio Below Market Ground Lease Accumulated Amortization
BelowMarketGroundLeaseAccumulatedAmortization
24000
CY2015Q4 cio Accumulated Amortization Of Intangible Lease Liabilities
AccumulatedAmortizationOfIntangibleLeaseLiabilities
774000
CY2015Q4 cio Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
2292000
CY2015Q4 cio Intangible Lease Liabilities Gross
IntangibleLeaseLiabilitiesGross
3066000
CY2016Q3 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
3126084 shares
CY2016Q3 cio Repurchase Of Redeemable Noncontrolling Interest
RepurchaseOfRedeemableNoncontrollingInterest
3126084 shares
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.235
CY2016Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42600000
CY2016Q3 cio Area Of Property Acquired
AreaOfPropertyAcquired
175835 sqft
CY2016Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
40001 shares
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
550000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-24346000
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
2871000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
55137000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.705
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1313000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2893000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
14788000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
2211000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
13764000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
361000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
600000
us-gaap Revenues
Revenues
37509000
us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
6910000
us-gaap Interest Paid
InterestPaid
6472000
us-gaap Operating Expenses
OperatingExpenses
35316000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
105812000
us-gaap Net Income Loss
NetIncomeLoss
-5039000
us-gaap Other Income
OtherIncome
934000
us-gaap Interest Expense
InterestExpense
7460000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-173117000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3890000
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
1234000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
50000000
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-1199000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
166724000
us-gaap Operating Income Loss
OperatingIncomeLoss
2193000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
3522000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
32838000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10834000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
136300000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4950000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
934000
us-gaap Management Fee Expense
ManagementFeeExpense
981000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
12471000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
6327000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12373000 shares
us-gaap Tenant Reimbursements
TenantReimbursements
3737000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12373000 shares
us-gaap Profit Loss
ProfitLoss
-5867000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
807000
us-gaap Share Based Compensation
ShareBasedCompensation
1403000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
540000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
310000
us-gaap Straight Line Rent
StraightLineRent
805000
cio Payments For Earn Out
PaymentsForEarnOut
3163000
cio Net Income Loss Attributable To Noncontrolling Interest In Properties
NetIncomeLossAttributableToNoncontrollingInterestInProperties
371000
cio Increase Decrease In Tenant Rent Deposits
IncreaseDecreaseInTenantRentDeposits
-13000
cio External Advisor Acquisition Costs
ExternalAdvisorAcquisitionCosts
174000
cio Business Acquisition Pro Forma Property Acquisition Expense Benefit
BusinessAcquisitionProFormaPropertyAcquisitionExpenseBenefit
230000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
671000
dei Entity Registrant Name
EntityRegistrantName
City Office REIT, Inc.
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001593222
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2013-11-26
dei Document Period End Date
DocumentPeriodEndDate
2016-09-30
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3884000
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
973000
us-gaap Fair Value Inputs Discount Rate
FairValueInputsDiscountRate
0.08 pure
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
55333000
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Amendment Flag
AmendmentFlag
false
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.705
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2751000
us-gaap Dividends Common Stock
DividendsCommonStock
17179000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
339000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
20834000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-2105000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
19779000
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2016-10-25
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2016-09-15
us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2016-10-11
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
139000
us-gaap Revenues
Revenues
51158000
us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
10206000
us-gaap Interest Paid
InterestPaid
10354000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
86786000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
1025000
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
42983000
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
1025000
us-gaap Operating Expenses
OperatingExpenses
52645000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
30875000
us-gaap Net Income Loss
NetIncomeLoss
2456000
us-gaap Other Income
OtherIncome
1090000
us-gaap Interest Expense
InterestExpense
10877000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-40246000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
949000
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
718000
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
871000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
75073000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
355000
us-gaap Operating Income Loss
OperatingIncomeLoss
-1487000
us-gaap Operations Commenced Date1
OperationsCommencedDate1
2014-04-21
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
7183000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
15934000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
44919000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15100000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
31342000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2010000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2213000
us-gaap Management Fee Expense
ManagementFeeExpense
109000
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 14pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>1. Organization and Description of Business</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; -webkit-text-stroke-width: 0px"> City Office REIT, Inc. (the &#x201C;Company&#x201D;) was organized in the state of Maryland on November&#xA0;26, 2013. On April&#xA0;21, 2014, the Company completed its initial public offering (&#x201C;IPO&#x201D;) of shares of the Company&#x2019;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 &#x201C;Operating Partnership&#x201D;), in exchange for common units of limited partnership interest in the Operating Partnership (&#x201C;common units&#x201D;). Both the Company and the Operating Partnership commenced operations upon completion of the IPO and certain related formation transactions (the &#x201C;Formation Transactions&#x201D;).</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; -webkit-text-stroke-width: 0px"> The Company&#x2019;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&#x2019;s percentage ownership of common units. As the sole general partner of the Operating Partnership, the Company has the exclusive power under the Operating Partnership&#x2019;s partnership agreement to manage and conduct the Operating Partnership&#x2019;s business, subject to limited approval and voting rights of the limited partners.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; -webkit-text-stroke-width: 0px"> The Company has elected to be taxed and will continue to operate in a manner that will allow it to qualify as a real estate investment trust (&#x201C;REIT&#x201D;) under the Internal Revenue Code of 1986, as amended (the &#x201C;Code&#x201D;). 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; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; -webkit-text-stroke-width: 0px"> On February 1, 2016, the Company closed on the previously announced management internalization (&#x201C;the Internalization&#x201D;).&#xA0;The Company had previously entered into a Stock Purchase Agreement (&#x201C;Stock Purchase Agreement&#x201D;) with certain stockholders of the Company&#x2019;s external advisor, City Office Real Estate Management Inc. (the &#x201C;Advisor&#x201D;) pursuant to which the Company acquired all of the outstanding stock of the Advisor. Pursuant to this Stock Purchase Agreement, at closing, the Company issued 297,321 shares of its common stock with a fair market value of $3.5 million to the stockholders of the Advisor (the &#x201C;Sellers&#x201D;), which included the Company&#x2019;s three executive officers and Samuel Belzberg, a director of the Company.&#xA0;In addition, the Company was required to make cash payments to the Sellers of up to $3.5 million if the Company&#x2019;s fully diluted market capitalization reached the following thresholds prior to December 31, 2016: $1 million upon the Company achieving a $200 million fully diluted market capitalization, an additional $1 million upon the Company achieving a $225 million fully diluted market capitalization and an additional $1.5 million upon the Company achieving a $250 million fully diluted market capitalization. The Company paid an additional $3.5 million in the first quarter of 2016 representing the payments to be made to the Sellers upon reaching these fully diluted market capitalizations, which, together with the initial payment and professional fees, resulted in a total cost of $7.0 million in the nine months ended September 30, 2016.&#xA0;The amount was recorded as an expense in the accompanying condensed consolidated statements of operations as it represented the cost of terminating the relationship.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; -webkit-text-stroke-width: 0px"> In connection with the closing of the Internalization, the Company entered into an amendment to the Advisory Agreement between the Company, the Operating Partnership and the Company&#x2019;s former external Advisor (&#x201C;Advisory Agreement&#x201D;) that eliminates the payment of acquisition fees by the Company to the Advisor.&#xA0;In addition, each of the Company&#x2019;s executive officers entered into an employment agreement with the Company and became employees of the Company, and, at the same time, approximately eleven additional former employees of the Advisor and its affiliates became employees of the Company.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 5%; -webkit-text-stroke-width: 0px"> In connection with the closing of the transactions under the Stock Purchase Agreement, a subsidiary of the Company entered into an Administrative Services Agreement (the &#x201C;Administrative Services Agreement&#x201D;) with Second City Capital II Corporation and Second City Real Estate II Corporation, related entities controlled by Mr. Belzberg.&#xA0;The Administrative Services Agreement has a three year term and pursuant to the agreement, the Company will provide various administrative services and support to the related entities managing the Second City funds. The Company&#x2019;s subsidiary will receive annual payments for these services under the Administrative Services Agreement as follows: first 12 months&#x2014;$1.5 million, second 12 months&#x2014;$1.15 million and third 12 months&#x2014;$0.625 million, for a total of $3.275 million over the three-year term.</p> </div>
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
12788000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
1833000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21731000 shares
us-gaap Tenant Reimbursements
TenantReimbursements
5149000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
50000000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
86786000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19143000 shares
dei Trading Symbol
TradingSymbol
CIO
us-gaap Units Of Partnership Interest Description
UnitsOfPartnershipInterestDescription
Beginning on or after the date which is 12 months after 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 tendered common units by issuing common stock on a one-for-one basis.
us-gaap Profit Loss
ProfitLoss
3570000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
1788000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
19338000
us-gaap Share Based Compensation
ShareBasedCompensation
1788000
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
828000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
355000
us-gaap Straight Line Rent
StraightLineRent
3901000
cio Payments For Earn Out
PaymentsForEarnOut
3778000
cio Operating Lease Space Occupied Percentage
OperatingLeaseSpaceOccupiedPercentage
0.88 pure
cio Net Income Loss Attributable To Noncontrolling Interest In Properties
NetIncomeLossAttributableToNoncontrollingInterestInProperties
243000
cio Rent Per Square Foot
RentPerSquareFoot
14
cio Stock Issued During Period Value Earn Out
StockIssuedDuringPeriodValueEarnOut
3778000
cio Increase Decrease In Tenant Rent Deposits
IncreaseDecreaseInTenantRentDeposits
-289000
CY2016Q3 us-gaap Revenues
Revenues
18791000
cio External Advisor Acquisition Costs
ExternalAdvisorAcquisitionCosts
7045000
cio Fair Value Investments Entities That Calculate Net Asset Value Per Share Change In Unobservable Input Percentage
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerShareChangeInUnobservableInputPercentage
0.10 pure
cio Operating Expenses Per Square Foot
OperatingExpensesPerSquareFoot
3
cio Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfShares
1263580 shares
cio Change In Fair Value Of Earn Out Liability
ChangeInFairValueOfEarnOutLiability
0
cio Internalization Shares Issued
InternalizationSharesIssued
3464000
cio Stock Issued During Period Value Internalization Shares
StockIssuedDuringPeriodValueInternalizationShares
3464000
cio Business Acquisition Pro Forma Property Acquisition Expense Benefit
BusinessAcquisitionProFormaPropertyAcquisitionExpenseBenefit
-230000
cio Redemption Of Common Units For Common Stock Shares
RedemptionOfCommonUnitsForCommonStockShares
3206084 shares
CY2016Q1 cio Payments For Earn Out
PaymentsForEarnOut
3800000
CY2015Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
196000
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.235
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
411000
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2015Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1802000
CY2015Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5888000
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2015Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
5521000
CY2015Q3 us-gaap Revenues
Revenues
14615000
CY2015Q3 us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
2798000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
14605000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-2499000
CY2015Q3 us-gaap Other Income
OtherIncome
313000
CY2015Q3 us-gaap Interest Expense
InterestExpense
2994000
CY2015Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-601000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10000
CY2015Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
12601000
CY2015Q3 us-gaap Management Fee Expense
ManagementFeeExpense
322000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12473000 shares
CY2015Q3 us-gaap Tenant Reimbursements
TenantReimbursements
1701000
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12473000 shares
CY2015Q3 us-gaap Profit Loss
ProfitLoss
-2984000
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
487000
CY2015Q3 cio Net Income Loss Attributable To Noncontrolling Interest In Properties
NetIncomeLossAttributableToNoncontrollingInterestInProperties
116000
CY2015Q3 cio External Advisor Acquisition Costs
ExternalAdvisorAcquisitionCosts
174000
CY2016Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
200000
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.235
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1122000
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2016Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
252000
CY2016Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7763000
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2016Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
7385000
CY2016Q3 us-gaap Interest Expense Lessee Assets Under Capital Lease
InterestExpenseLesseeAssetsUnderCapitalLease
3321000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
17152000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-1944000
CY2016Q3 us-gaap Other Income
OtherIncome
342000
CY2016Q3 us-gaap Interest Expense
InterestExpense
3521000
CY2016Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-3000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23884000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23884000 shares
CY2016Q3 us-gaap Tenant Reimbursements
TenantReimbursements
1805000
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-1882000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1639000
CY2016Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
16644000
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
630000
CY2016Q3 cio Net Income Loss Attributable To Noncontrolling Interest In Properties
NetIncomeLossAttributableToNoncontrollingInterestInProperties
65000

Files In Submission

Name View Source Status
0001193125-16-760879-index-headers.html Edgar Link pending
0001193125-16-760879-index.html Edgar Link pending
0001193125-16-760879.txt Edgar Link pending
0001193125-16-760879-xbrl.zip Edgar Link pending
cio-20160930.xml Edgar Link completed
cio-20160930.xsd Edgar Link pending
cio-20160930_cal.xml Edgar Link unprocessable
cio-20160930_def.xml Edgar Link unprocessable
cio-20160930_lab.xml Edgar Link unprocessable
cio-20160930_pre.xml Edgar Link unprocessable
d187088d10q.htm Edgar Link pending
d187088dex104.htm Edgar Link pending
d187088dex105.htm Edgar Link pending
d187088dex311.htm Edgar Link pending
d187088dex312.htm Edgar Link pending
d187088dex321.htm Edgar Link pending
d187088dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending