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GLADSTONE COMMERCIAL CORP

2014 Q4 Form 10-K Financial Statement

#000119312516467081 Filed on February 17, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $19.22M $19.01M $18.39M
YoY Change 13.97% 17.44% 28.98%
Cost Of Revenue $1.490M $1.940M $1.970M
YoY Change -19.02% 36.62% 93.14%
Gross Profit $17.72M $17.07M $16.42M
YoY Change 17.9% 15.57% 24.02%
Gross Profit Margin 92.21% 89.78% 89.29%
Selling, General & Admin $1.480M $2.340M $690.0K
YoY Change -28.85% 30.73% -61.24%
% of Gross Profit 8.35% 13.71% 4.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.750M $7.520M $6.870M
YoY Change 19.97% 20.32% 31.61%
% of Gross Profit 43.74% 44.05% 41.84%
Operating Expenses $10.97M $11.46M $11.24M
YoY Change 14.97% 32.62% 52.57%
Operating Profit $6.750M $5.613M $5.177M
YoY Change 23.0% -8.45% -11.82%
Interest Expense -$7.420M $6.679M $6.509M
YoY Change 5.4% 1.61% 12.93%
% of Operating Profit -109.93% 118.99% 125.73%
Other Income/Expense, Net -$2.082M -$7.328M -$5.928M
YoY Change -70.19% 1.19% -7.92%
Pretax Income $6.160M $230.0K $1.220M
YoY Change 1766.67% -25.81% 171.11%
Income Tax
% Of Pretax Income
Net Earnings $6.164M $229.0K $1.219M
YoY Change 1745.51% -25.89% 170.29%
Net Earnings / Revenue 32.08% 1.2% 6.63%
Basic Earnings Per Share -$0.05 $0.01
Diluted Earnings Per Share $324.9K -$0.05 $0.01
COMMON SHARES
Basic Shares Outstanding 18.93M shares 17.74M shares 16.55M shares
Diluted Shares Outstanding 17.74M shares 16.89M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.600M $5.200M $2.400M
YoY Change 1.18% 15.56% -40.0%
Cash & Equivalents $8.599M $5.237M $2.367M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.600M $5.200M $2.400M
YoY Change 1.18% 15.56% -88.41%
LONG-TERM ASSETS
Property, Plant & Equipment $630.4M $607.2M $595.5M
YoY Change 12.35% 11.29% 20.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.60M $44.60M $43.20M
YoY Change 8.12% 11.5% 144.07%
Total Long-Term Assets $779.2M $754.2M $733.1M
YoY Change 14.25% 13.94% 27.85%
TOTAL ASSETS
Total Short-Term Assets $8.600M $5.200M $2.400M
Total Long-Term Assets $779.2M $754.2M $733.1M
Total Assets $787.8M $759.4M $735.5M
YoY Change 14.09% 13.95% 23.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.0K $1.700M $1.700M
YoY Change -35.71% 70.0% 112.5%
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 $900.0K $1.700M $1.700M
YoY Change -62.5% -52.78% -50.0%
LONG-TERM LIABILITIES
Long-Term Debt $541.1M $544.5M $520.4M
YoY Change 11.45% 14.1% 27.27%
Other Long-Term Liabilities $19.80M $16.80M $16.40M
YoY Change 8.79% -15.15% 12.33%
Total Long-Term Liabilities $560.9M $561.3M $536.8M
YoY Change 11.36% 12.94% 26.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $900.0K $1.700M $1.700M
Total Long-Term Liabilities $560.9M $561.3M $536.8M
Total Liabilities $570.1M $570.2M $545.0M
YoY Change 12.37% 13.69% 27.4%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $20.00K $18.00K $18.00K
YoY Change 25.0% 28.57% 28.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $217.7M $189.2M $190.6M
YoY Change
Total Liabilities & Shareholders Equity $787.8M $759.4M $735.5M
YoY Change 14.09% 13.95% 23.8%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $6.164M $229.0K $1.219M
YoY Change 1745.51% -25.89% 170.29%
Depreciation, Depletion And Amortization $7.750M $7.520M $6.870M
YoY Change 19.97% 20.32% 31.61%
Cash From Operating Activities $9.520M $7.640M $4.880M
YoY Change 120.37% -4.86% 8.69%
INVESTING ACTIVITIES
Capital Expenditures -$41.68M -$21.28M -$62.31M
YoY Change 59.08% -70.72% 96.44%
Acquisitions
YoY Change
Other Investing Activities -$720.0K -$5.900M $7.730M
YoY Change -614.29% -59100.0% -699.22%
Cash From Investing Activities -$42.40M -$27.18M -$54.58M
YoY Change 62.64% -62.59% 65.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 36.25M 22.41M 46.25M
YoY Change 40.67% -65.59% 83.02%
NET CHANGE
Cash From Operating Activities 9.520M 7.640M 4.880M
Cash From Investing Activities -42.40M -27.18M -54.58M
Cash From Financing Activities 36.25M 22.41M 46.25M
Net Change In Cash 3.370M 2.870M -3.450M
YoY Change -16.17% 474.0% 6.15%
FREE CASH FLOW
Cash From Operating Activities $9.520M $7.640M $4.880M
Capital Expenditures -$41.68M -$21.28M -$62.31M
Free Cash Flow $51.20M $28.92M $67.19M
YoY Change 67.76% -64.16% 85.56%

Facts In Submission

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0.015 pure
CY2015Q3 good Notice Period For Termination Of Agreement Without Cause
NoticePeriodForTerminationOfAgreementWithoutCause
P120D
CY2015Q3 good Notice Period For Termination Of Agreement With Cause
NoticePeriodForTerminationOfAgreementWithCause
P30D
CY2015Q3 good Quarterly Base Management Fee In Percentage Of Stockholders Equity Adjusted To Unrealized Gains Or Losses
QuarterlyBaseManagementFeeInPercentageOfStockholdersEquityAdjustedToUnrealizedGainsOrLosses
0.00375 pure
CY2015Q3 good Quarterly Incentive Fee Per Advisory Agreement
QuarterlyIncentiveFeePerAdvisoryAgreement
0.020 pure
CY2015Q3 good Annual Base Management Fee In Percentage Of Stockholders Equity In Excess Of Recorded Value Of Preferred Stock
AnnualBaseManagementFeeInPercentageOfStockholdersEquityInExcessOfRecordedValueOfPreferredStock
0.020 pure
CY2015Q4 us-gaap Straight Line Rent
StraightLineRent
20000
CY2015Q4 good Extended Lease Term
ExtendedLeaseTerm
P3Y
CY2015Q4 good Line Of Credit Facility Expiration Month And Year
LineOfCreditFacilityExpirationMonthAndYear
2019-08
CY2012Q1 us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2017-01-31
CY2011Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
500000 shares
CY2011Q1 good Shares Intended To Be Offered Pursuant To Primary Offering
SharesIntendedToBeOfferedPursuantToPrimaryOffering
3000000 shares
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
19885000
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13164244 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13164244 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13164244 shares
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.22
CY2013 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
2375000
CY2013 us-gaap Net Income Loss
NetIncomeLoss
1527000
CY2013 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
101000
CY2013 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3465000
CY2013 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2867000
CY2013 us-gaap Interest Paid
InterestPaid
26679000
CY2013 us-gaap Payments Of Dividends
PaymentsOfDividends
23940000
CY2013 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
59769000
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
83286000
CY2013 us-gaap Management Fees Base Revenue
ManagementFeesBaseRevenue
0
CY2013 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
4963000
CY2013 us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
399000
CY2013 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-26993000
CY2013 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
2117000
CY2013 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
16407000
CY2013 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
15511000
CY2013 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2051000
CY2013 us-gaap Tenant Reimbursements
TenantReimbursements
1574000
CY2013 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
0
CY2013 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
80081000
CY2013 us-gaap Straight Line Rent
StraightLineRent
3700000
CY2013 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
600000
CY2013 us-gaap Payments For Commissions
PaymentsForCommissions
1041000
CY2013 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
61343000
CY2013 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
76000000
CY2013 good Non Cash Capital Improvements Included In Accounts Payable And Accrued Expenses
NonCashCapitalImprovementsIncludedInAccountsPayableAndAccruedExpenses
350000
CY2013 good Asset Retirement Obligation Expense
AssetRetirementObligationExpense
129000
CY2013 good Administration Fee
AdministrationFee
1467000
CY2013 good Payments To Lenders For Reserves Held In Escrow
PaymentsToLendersForReservesHeldInEscrow
6606000
CY2013 good Capital Gain Distributions
CapitalGainDistributions
0 pure
CY2013 good Incentive Fee
IncentiveFee
4201000
CY2013 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
100000
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3000000
CY2013 us-gaap Operating Expenses
OperatingExpenses
32823000
CY2013 us-gaap Dividends
Dividends
24067000
CY2013 us-gaap Interest Expense
InterestExpense
24351000
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-137056000
CY2013 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-19000
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
120171000
CY2013 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
35000
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
88121000
CY2013 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
768000
CY2013 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1437000
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2171000
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1655000
CY2013 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
75400000
CY2013 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1780000
CY2013 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-171000
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7300000
CY2013 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22827000
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
79995000
CY2013 us-gaap Real Estate Improvements
RealEstateImprovements
5176000
CY2013 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
103424000
CY2013 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
4394000
CY2013 good Business Acquisition Pro Forma Other Expenses
BusinessAcquisitionProFormaOtherExpenses
32929000
CY2013 good Payments To Acquire Real Estate And Intangible Assets
PaymentsToAcquireRealEstateAndIntangibleAssets
131188000
CY2013 good Senior Common Dividend Issued In Dividend Reinvestment Program
SeniorCommonDividendIssuedInDividendReinvestmentProgram
126000
CY2013 good Receipts From Tenants For Reserves
ReceiptsFromTenantsForReserves
6085000
CY2013 good Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.26
CY2013 good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
1.04
CY2013 good Business Acquisition Pro Forma Net Income
BusinessAcquisitionProFormaNetIncome
929000
CY2013 good Payments To Tenants From Reserves
PaymentsToTenantsFromReserves
3949000
CY2013 good Net Income Loss Available To Common Stockholders Plus Assumed Conversion
NetIncomeLossAvailableToCommonStockholdersPlusAssumedConversion
-2867000
CY2013 good Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-333000
CY2013 good Improvements Of Existing Real Estate
ImprovementsOfExistingRealEstate
5176000
CY2013 good Proceeds From Deposits Applied Against Acquisition Of Real Estate Investments
ProceedsFromDepositsAppliedAgainstAcquisitionOfRealEstateInvestments
2725000
CY2013 good Operating Expenses Before Credits
OperatingExpensesBeforeCredits
36280000
CY2013 good Base Management Fee
BaseManagementFee
2014000
CY2013 good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
300000
CY2013 good Credit To Incentive Fee
CreditToIncentiveFee
3457000
CY2013 good Secured Mortgages Financing Fee Percent
SecuredMortgagesFinancingFeePercent
0.002 pure
CY2013 good Repayment Of Principal On Notes Receivable
RepaymentOfPrincipalOnNotesReceivable
35000
CY2013 good Receipts From Lenders For Reserves Held In Escrow
ReceiptsFromLendersForReservesHeldInEscrow
5545000
CY2013 good Payment Of Financing Fee
PaymentOfFinancingFee
100000
CY2013 good Business Acquisition Pro Forma Operating Expenses
BusinessAcquisitionProFormaOperatingExpenses
46223000
CY2013 good Weighted Average Shares Of Senior Common Stock Outstanding Basic
WeightedAverageSharesOfSeniorCommonStockOutstandingBasic
287178 shares
CY2013 good Property Operating Expenses
PropertyOperatingExpenses
3348000
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.61
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
28197000
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.61
CY2014 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P11Y6M
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17253503 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17253503 shares
CY2014 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
405000
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17253503 shares
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.61
CY2014 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
3050000
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-5902000
CY2014 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
174000
CY2014 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-9263000
CY2014 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10538000
CY2014 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
39490000
CY2014 us-gaap Interest Paid
InterestPaid
27557000
CY2014 us-gaap Payments Of Dividends
PaymentsOfDividends
30363000
CY2014 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
71211000
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
71002000
CY2014 us-gaap Management Fees Base Revenue
ManagementFeesBaseRevenue
200000
CY2014 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3140000
CY2014 us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
265000
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-22252000
CY2014 us-gaap Mortgage Loan Related To Property Sales1
MortgageLoanRelatedToPropertySales1
17373000
CY2014 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-1504000
CY2014 us-gaap Payments For Commissions
PaymentsForCommissions
1159000
CY2014 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
5274000
CY2014 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
73756000
CY2014 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
5600000
CY2014 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
8144000
CY2014 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
18814000
CY2014 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1029000
CY2014 us-gaap Tenant Reimbursements
TenantReimbursements
2079000
CY2014 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
400000
CY2014 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
87439000
CY2014 us-gaap Straight Line Rent
StraightLineRent
3230000
CY2014 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
700000
CY2014 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
79550000
CY2014 us-gaap Derivative Cost Of Hedge
DerivativeCostOfHedge
31000
CY2014 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
100000
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
53000
CY2014 us-gaap Operating Expenses
OperatingExpenses
57406000
CY2014 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
7922000
CY2014 us-gaap Dividends
Dividends
30574000
CY2014 us-gaap Interest Expense
InterestExpense
26197000
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-130441000
CY2014 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
57000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
102297000
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
73931000
CY2014 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1438000
CY2014 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
857000
CY2014 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
11162000
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
204000
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2689000
CY2014 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
62231000
CY2014 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
98450000
CY2014 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1656000
CY2014 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-267000
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10000000
CY2014 us-gaap Asset Impairment Charges
AssetImpairmentCharges
14238000
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
28864000
CY2014 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
52085000
CY2014 us-gaap Real Estate Improvements
RealEstateImprovements
13889000
CY2014 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
105813000
CY2014 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
4636000
CY2014 good Business Acquisition Pro Forma Other Expenses
BusinessAcquisitionProFormaOtherExpenses
26014000
CY2014 good Operating Leases Income Statement Lease Revenue From Acquired Properties
OperatingLeasesIncomeStatementLeaseRevenueFromAcquiredProperties
5605000
CY2014 good Payments To Acquire Real Estate And Intangible Assets
PaymentsToAcquireRealEstateAndIntangibleAssets
124315000
CY2014 good Non Cash Capital Improvements Included In Accounts Payable And Accrued Expenses
NonCashCapitalImprovementsIncludedInAccountsPayableAndAccruedExpenses
5510000
CY2014 good Asset Retirement Obligation Expense
AssetRetirementObligationExpense
104000
CY2014 good Administration Fee
AdministrationFee
1526000
CY2014 good Payments To Lenders For Reserves Held In Escrow
PaymentsToLendersForReservesHeldInEscrow
8659000
CY2014 good Capital Gain Distributions
CapitalGainDistributions
0 pure
CY2014 good Incentive Fee
IncentiveFee
4305000
CY2014 good Senior Common Dividend Issued In Dividend Reinvestment Program
SeniorCommonDividendIssuedInDividendReinvestmentProgram
211000
CY2014 good Receipts From Tenants For Reserves
ReceiptsFromTenantsForReserves
3101000
CY2014 good Annualized Straight Line Rent
AnnualizedStraightLineRent
14216000
CY2014 good Fixed Asset Additions Paid For By Tenant
FixedAssetAdditionsPaidForByTenant
2031000
CY2014 good Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.54
CY2014 good Credit To Base Management Fee
CreditToBaseManagementFee
150000
CY2014 good Purchase Price
PurchasePrice
140011000
CY2014 good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
1.05
CY2014 good Business Acquisition Pro Forma Net Income
BusinessAcquisitionProFormaNetIncome
-4627000
CY2014 good Payments To Tenants From Reserves
PaymentsToTenantsFromReserves
4298000
CY2014 good Net Income Loss Available To Common Stockholders Plus Assumed Conversion
NetIncomeLossAvailableToCommonStockholdersPlusAssumedConversion
-10538000
CY2014 good Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-389000
CY2014 good Improvements Of Existing Real Estate
ImprovementsOfExistingRealEstate
6347000
CY2014 good Proceeds From Deposits Applied Against Acquisition Of Real Estate Investments
ProceedsFromDepositsAppliedAgainstAcquisitionOfRealEstateInvestments
3150000
CY2014 good Operating Expenses Before Credits
OperatingExpensesBeforeCredits
60569000
CY2014 good Security Deposit Applied To Rental Income
SecurityDepositAppliedToRentalIncome
147000
CY2014 good Base Management Fee
BaseManagementFee
2798000
CY2014 good Deferred Rent Expense
DeferredRentExpense
800000
CY2014 good Net Income Loss From Acquired Properties
NetIncomeLossFromAcquiredProperties
2492000
CY2014 good Purchase Price Of Acquired Property
PurchasePriceOfAcquiredProperty
134461000
CY2014 good Fixed Rate Debt Assumed In Connection With Acquisitions
FixedRateDebtAssumedInConnectionWithAcquisitions
10146000
CY2014 good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
542000
CY2014 good Credit To Incentive Fee
CreditToIncentiveFee
3013000
CY2014 good Secured Mortgages Financing Fee Percent
SecuredMortgagesFinancingFeePercent
0.003 pure
CY2014 good Interest Income From Mortgage Note Receivable
InterestIncomeFromMortgageNoteReceivable
466000
CY2014 good Receipts From Lenders For Reserves Held In Escrow
ReceiptsFromLendersForReservesHeldInEscrow
2911000
CY2014 good Payment Of Financing Fee
PaymentOfFinancingFee
100000
CY2014 good Business Acquisition Pro Forma Operating Expenses
BusinessAcquisitionProFormaOperatingExpenses
66052000
CY2014 good Weighted Average Shares Of Senior Common Stock Outstanding Basic
WeightedAverageSharesOfSeniorCommonStockOutstandingBasic
516937 shares
CY2014 good Business Acquisition Expenses
BusinessAcquisitionExpenses
1292000
CY2014 good Property Operating Expenses
PropertyOperatingExpenses
4711000
CY2014 good Gains Losses On Sales Of Real Estate
GainsLossesOnSalesOfRealEstate
1240000
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
31487000
CY2015 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
One month LIBOR was approximately 0.43%
CY2015 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0001234006
CY2015 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2015 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P14Y3M18D
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 us-gaap Incentive Fee Description
IncentiveFeeDescription
However, in no event shall the incentive fee for a particular quarter exceed by 15.0% (the cap) the average quarterly incentive fee paid by us for the previous four quarters (excluding quarters for which no incentive fee was paid).
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Registrant Name
EntityRegistrantName
GLADSTONE COMMERCIAL CORP
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21159597 shares
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
75000000
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21159597 shares
CY2015 us-gaap Description Of Lessee Leasing Arrangements Capital Leases
DescriptionOfLesseeLeasingArrangementsCapitalLeases
The other tenants in the building have varying lease expirations from December 2015 to October 2018. No other tenants have renewal options.
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Impairment Charges</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> We account for the impairment of real estate in accordance with ASC 360-10-35, &#x201C;Property, Plant, and Equipment,&#x201D; which requires us to periodically review the carrying value of each property to determine if circumstances indicate impairment of the carrying value of the investment exists or that depreciation periods should be modified. If circumstances indicate the possibility of impairment, we prepare a projection of the undiscounted future cash flows, without interest charges, of the specific property and determine if the carrying value of the investment in such property is recoverable. In performing the analysis, we consider such factors as each tenant&#x2019;s payment history and financial condition, the likelihood of lease renewal, business conditions in the industry in which the tenants operate, whether there are indications that the fair value of the real estate has decreased and our intended holding period of the property. If the carrying amount is more than the aggregate undiscounted future cash flows, we would recognize an impairment loss to the extent the carrying amount exceeds the estimated fair value of the property. We evaluate our entire portfolio of properties each quarter for any impairment indicators and perform an impairment analysis on those select properties that have an indication of impairment.</p> </div>
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates.</p> </div>
CY2015 us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
56000
CY2015 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0043 pure
CY2015 us-gaap Derivative Cost Of Hedge
DerivativeCostOfHedge
151000
CY2015 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
200000
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
CY2015 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
66714000
CY2015 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
22220000
CY2015 us-gaap Preferred Stock Redemption Terms
PreferredStockRedemptionTerms
On or after January 31, 2016, we may redeem the shares at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends to and including the date of redemption.
CY2015 dei Trading Symbol
TradingSymbol
GOOD
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21159597 shares
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2015 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2015-12-31
CY2015 us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
200000
CY2015 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
1700000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
3596000
CY2015 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
14000
CY2015 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-431000
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1505000
CY2015 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
6425000
CY2015 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1880000
CY2015 us-gaap Tenant Reimbursements
TenantReimbursements
1753000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3447000
CY2015 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
300000
CY2015 us-gaap Interest Paid
InterestPaid
29259000
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
36871000
CY2015 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
80892000
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
49151000
CY2015 us-gaap Management Fees Base Revenue
ManagementFeesBaseRevenue
0
CY2015 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1066000
CY2015 us-gaap Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1185000
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-29205000
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
658000
CY2015 us-gaap Payments For Commissions
PaymentsForCommissions
1615000
CY2015 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
83766000
CY2015 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
100000
CY2015 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
86321000
CY2015 us-gaap Straight Line Rent
StraightLineRent
4464000
CY2015 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
900000
CY2015 us-gaap Operating Expenses
OperatingExpenses
50965000
CY2015 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
1264000
CY2015 us-gaap Dividends
Dividends
36923000
CY2015 us-gaap Interest Expense
InterestExpense
28014000
CY2015 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-314000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-74482000
CY2015 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
40000
CY2015 us-gaap Loan Restructuring Trial Modifications Amount
LoanRestructuringTrialModificationsAmount
500000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
39548000
CY2015 us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
375000
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50165000
CY2015 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
622000
CY2015 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-43000
CY2015 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
6683000
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-452000
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
25000000
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2094000
CY2015 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
43379000
CY2015 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
77000000
CY2015 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1955000
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13100000
CY2015 us-gaap Asset Impairment Charges
AssetImpairmentCharges
622000
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
35288000
CY2015 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
68499000
CY2015 us-gaap Real Estate Improvements
RealEstateImprovements
6527000
CY2015 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
60231000
CY2015 good Number Of Long Term Mortgages Issued
NumberOfLongTermMortgagesIssued
8 Mortgages
CY2015 good Incentive Fee On Capital Gains Percentage Description
IncentiveFeeOnCapitalGainsPercentageDescription
At the end of the fiscal year, if this number is positive, then the capital gain fee payable for such time period shall equal 15.0% of such amount.
CY2015 good Number Of Properties Issued To Collateralized Mortgage Notes Payable
NumberOfPropertiesIssuedToCollateralizedMortgageNotesPayable
10 Property
CY2015 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
5101000
CY2015 good Business Acquisition Pro Forma Other Expenses
BusinessAcquisitionProFormaOtherExpenses
29926000
CY2015 good Operating Leases Income Statement Lease Revenue From Acquired Properties
OperatingLeasesIncomeStatementLeaseRevenueFromAcquiredProperties
4919000
CY2015 good Payments To Acquire Real Estate And Intangible Assets
PaymentsToAcquireRealEstateAndIntangibleAssets
77798000
CY2015 good Pre Incentive Fee In Percentage Of Common Stockholders Equity That Awards Adviser Hundred Percent Of Amount Of Pre Incentive Fee Maximum Percentage
PreIncentiveFeeInPercentageOfCommonStockholdersEquityThatAwardsAdviserHundredPercentOfAmountOfPreIncentiveFeeMaximumPercentage
0.021875 pure
CY2015 good Non Cash Capital Improvements Included In Accounts Payable And Accrued Expenses
NonCashCapitalImprovementsIncludedInAccountsPayableAndAccruedExpenses
4488000
CY2015 good Asset Retirement Obligation Expense
AssetRetirementObligationExpense
152000
CY2015 good Administration Fee
AdministrationFee
1419000
CY2015 good Sales Commission Fee In Percentage Of Gross Proceeds Of Shares Of Senior Common Stock Sold
SalesCommissionFeeInPercentageOfGrossProceedsOfSharesOfSeniorCommonStockSold
0.030 pure
CY2015 good Payments To Lenders For Reserves Held In Escrow
PaymentsToLendersForReservesHeldInEscrow
3385000
CY2015 good Capital Gain Distributions
CapitalGainDistributions
0 pure
CY2015 good Minimum Percentage Likelihood To Recognize Tax Benefit From Uncertain Tax Position
MinimumPercentageLikelihoodToRecognizeTaxBenefitFromUncertainTaxPosition
0.50 pure
CY2015 good Incentive Fee
IncentiveFee
4650000
CY2015 good Pre Incentive Fee In Percentage Of Common Stockholders Equity That Awards Adviser Twenty Percent Of Amount Of Pre Incentive Fee Minimum Percentage
PreIncentiveFeeInPercentageOfCommonStockholdersEquityThatAwardsAdviserTwentyPercentOfAmountOfPreIncentiveFeeMinimumPercentage
0.021875 pure
CY2015 good Annualized Straight Line Rent
AnnualizedStraightLineRent
7984000
CY2015 good Senior Common Dividend Issued In Dividend Reinvestment Program
SeniorCommonDividendIssuedInDividendReinvestmentProgram
52000
CY2015 good Receipts From Tenants For Reserves
ReceiptsFromTenantsForReserves
3429000
CY2015 good Improvements Of Existing Real Estate
ImprovementsOfExistingRealEstate
6689000
CY2015 good Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition Two
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionTwo
0.200 pure
CY2015 good Fixed Asset Additions Paid For By Tenant
FixedAssetAdditionsPaidForByTenant
766000
CY2015 good Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.02
CY2015 good Earnings Per Weighted Average Share Of Senior Common Stock
EarningsPerWeightedAverageShareOfSeniorCommonStock
1.05
CY2015 good Business Acquisition Pro Forma Net Income
BusinessAcquisitionProFormaNetIncome
4670000
CY2015 good Payments To Tenants From Reserves
PaymentsToTenantsFromReserves
2811000
CY2015 good Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne
1.000 pure
CY2015 good Net Income Loss Available To Common Stockholders Plus Assumed Conversion
NetIncomeLossAvailableToCommonStockholdersPlusAssumedConversion
-1505000
CY2015 good Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-515000
CY2015 good Line Of Credit Facility Percentage Of Extension Fee On Initial Maturity
LineOfCreditFacilityPercentageOfExtensionFeeOnInitialMaturity
0.0025 pure
CY2015 good Weighted Average Shares Of Senior Common Stock Outstanding Basic
WeightedAverageSharesOfSeniorCommonStockOutstandingBasic
960016 shares
CY2015 good Proceeds From Deposits Applied Against Acquisition Of Real Estate Investments
ProceedsFromDepositsAppliedAgainstAcquisitionOfRealEstateInvestments
1800000
CY2015 good Operating Expenses Before Credits
OperatingExpensesBeforeCredits
53465000
CY2015 good Base Management Fee
BaseManagementFee
3474000
CY2015 good Annualized Incentive Fee Per Advisory Agreement
AnnualizedIncentiveFeePerAdvisoryAgreement
0.070 pure
CY2015 good Net Income Loss From Acquired Properties
NetIncomeLossFromAcquiredProperties
1635000
CY2015 good Cash Equivalents Maximum Maturity Period Of Highly Liquid Investments
CashEquivalentsMaximumMaturityPeriodOfHighlyLiquidInvestments
Three months or less
CY2015 good Purchase Price Of Acquired Property
PurchasePriceOfAcquiredProperty
77798000
CY2015 good Distributions Attributable To Senior Common Stock
DistributionsAttributableToSeniorCommonStock
1007000
CY2015 good Credit To Incentive Fee
CreditToIncentiveFee
2500000
CY2015 good Secured Mortgages Financing Fee Percent
SecuredMortgagesFinancingFeePercent
0.003 pure
CY2015 good Repayment Of Principal On Notes Receivable
RepaymentOfPrincipalOnNotesReceivable
375000
CY2015 good Interest Income From Mortgage Note Receivable
InterestIncomeFromMortgageNoteReceivable
1121000
CY2015 good Number Of Subsidiaries Interest Owned In General And Limited Partnership
NumberOfSubsidiariesInterestOwnedInGeneralAndLimitedPartnership
2 Subsidiary
CY2015 good Receipts From Lenders For Reserves Held In Escrow
ReceiptsFromLendersForReservesHeldInEscrow
6947000
CY2015 good Payment Of Financing Fee
PaymentOfFinancingFee
200000
CY2015 good Business Acquisition Pro Forma Operating Expenses
BusinessAcquisitionProFormaOperatingExpenses
51725000
CY2015 good Non Qualifying Income Related To Real Estate Portfolio
NonQualifyingIncomeRelatedToRealEstatePortfolio
0
CY2015 good Business Acquisition Expenses
BusinessAcquisitionExpenses
586000
CY2015 good Lease Expiration Period Month And Year
LeaseExpirationPeriodMonthAndYear
2016-11
CY2015 good Dealer Manager Fee In Percentage Of Gross Proceeds Of Shares Of Senior Common Stock Sold
DealerManagerFeeInPercentageOfGrossProceedsOfSharesOfSeniorCommonStockSold
0.070 pure
CY2015 good Property Operating Expenses
PropertyOperatingExpenses
5296000
CY2015 good Gains Losses On Sales Of Real Estate
GainsLossesOnSalesOfRealEstate
1538000
CY2015 good Incentive Fee On Capital Gains
IncentiveFeeOnCapitalGains
0
CY2015 good Extended Lease Expiration Date
ExtendedLeaseExpirationDate
2019-03-31
CY2015 good Number Of Lender Added
NumberOfLenderAdded
3 Lenders
CY2015 good Quarterly Incentive Fee Per Advisory Agreement
QuarterlyIncentiveFeePerAdvisoryAgreement
0.0175 pure
CY2015 good Allowance For Tenant Improvements Capitalized
AllowanceForTenantImprovementsCapitalized
520000
CY2015 good Number Of Properties Shared
NumberOfPropertiesShared
22 Property
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.93
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-13514000
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14637000
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6914000
CY2014Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
17136000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
23736000
CY2014Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
14000000
CY2014Q1 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1123000
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
694000
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-553000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
11243000
CY2014Q2 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1133000
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
CY2015Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1283000
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
7429000
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
19880000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
11757000
CY2015Q1 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1247000
CY2015Q1 good Shares Of Senior Common Stock Sold In This Ongoing Offering
SharesOfSeniorCommonStockSoldInThisOngoingOffering
189052 shares
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
1219000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
86000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5928000
CY2014Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
18390000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
431000
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-853000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
7662000
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
20688000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
12595000
CY2015Q2 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1284000
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
229000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-931000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7328000
CY2014Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
19014000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
11457000
CY2014Q3 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1160000
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-96000
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1382000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
7828000
CY2015Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
21375000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
13643000
CY2015Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
600000
CY2015Q3 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1286000
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.36
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
6164000
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4944000
CY2014Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2082000
CY2014Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
5300000
CY2014Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
19216000
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
10970000
CY2014Q4 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1220000
CY2015Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
6286000
CY2015Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
21823000
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
12970000
CY2015Q4 good Business Acquisition Pro Forma Dividends Attributable To Preferred And Senior Common Stock
BusinessAcquisitionProFormaDividendsAttributableToPreferredAndSeniorCommonStock
1284000
CY2015Q4 good Gains Losses On Sales Of Real Estate
GainsLossesOnSalesOfRealEstate
1500000

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