$LAND
Gladstone Land Corp

2014 Q4 Form 10-Q Financial Statement

#000119312514383465 Filed on October 27, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $2.346M $1.778M $996.1K
YoY Change 99.17% 78.46% 17.4%
Cost Of Revenue $1.800M $1.476M $647.5K
YoY Change 103.67% 127.97% 19.28%
Gross Profit $545.7K $301.6K $348.6K
YoY Change 85.66% -13.49% 14.07%
Gross Profit Margin 23.27% 16.97% 35.0%
Selling, General & Admin $490.0K $480.0K $370.0K
YoY Change 6.52% 29.73% 208.33%
% of Gross Profit 89.79% 159.16% 106.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $670.0K $447.3K $171.8K
YoY Change 219.05% 160.41% 43.13%
% of Gross Profit 122.77% 148.3% 49.27%
Operating Expenses $1.800M $1.476M $550.0K
YoY Change 168.65% 168.38% 129.17%
Operating Profit -$1.254M $301.6K $348.6K
YoY Change 233.51% -13.49% 14.07%
Interest Expense -$730.0K $501.1K $276.0K
YoY Change 170.37% 81.53% 11.95%
% of Operating Profit 166.15% 79.18%
Other Income/Expense, Net -$484.7K -$194.4K -$258.5K
YoY Change 77.56% -24.8% 5.09%
Pretax Income $61.07K $107.2K $90.17K
YoY Change 191.04% 18.93% 51.07%
Income Tax $6.399K $6.857K $85.41K
% Of Pretax Income 10.48% 6.39% 94.72%
Net Earnings $54.67K $100.4K $4.760K
YoY Change -104.18% 2008.72% -88.04%
Net Earnings / Revenue 2.33% 5.65% 0.48%
Basic Earnings Per Share
Diluted Earnings Per Share $6.452K $15.13K $0.00
COMMON SHARES
Basic Shares Outstanding 7.754M shares 6.530M shares 6.530M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.600M $3.000M $39.40M
YoY Change -84.05% -92.39% 3183.33%
Cash & Equivalents $2.619M $3.031M $39.38M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.600M $3.000M $39.40M
YoY Change -84.05% -92.39% 3183.33%
LONG-TERM ASSETS
Property, Plant & Equipment $143.9M $113.2M $41.90M
YoY Change 91.1% 170.17% 12.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $700.0K $700.0K
YoY Change 0.0%
Other Assets $1.400M $1.100M $300.0K
YoY Change 366.67% 266.67% 0.0%
Total Long-Term Assets $149.1M $117.6M $46.30M
YoY Change 92.71% 154.03% 18.42%
TOTAL ASSETS
Total Short-Term Assets $2.600M $3.000M $39.40M
Total Long-Term Assets $149.1M $117.6M $46.30M
Total Assets $151.7M $120.6M $85.70M
YoY Change 61.95% 40.75% 112.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M $900.0K $700.0K
YoY Change 72.73% 28.57% 40.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.400M $1.300M $800.0K
YoY Change 84.62% 62.5% -46.67%
LONG-TERM LIABILITIES
Long-Term Debt $86.40M $57.30M $29.60M
YoY Change 100.0% 93.58% -3.58%
Other Long-Term Liabilities $2.900M $2.100M $300.0K
YoY Change 314.29% 600.0%
Total Long-Term Liabilities $89.30M $59.40M $29.90M
YoY Change 103.42% 98.66% -2.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.400M $1.300M $800.0K
Total Long-Term Liabilities $89.30M $59.40M $29.90M
Total Liabilities $91.73M $60.83M $31.38M
YoY Change 103.12% 93.88% -3.16%
SHAREHOLDERS EQUITY
Retained Earnings -$5.405M -$4.764M $2.992M
YoY Change 91.6% -259.2%
Common Stock $65.37M $7.680K $6.530K
YoY Change 1001034.2% 17.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.97M $59.79M $54.33M
YoY Change
Total Liabilities & Shareholders Equity $151.7M $120.6M $85.70M
YoY Change 61.95% 40.75% 112.66%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $54.67K $100.4K $4.760K
YoY Change -104.18% 2008.72% -88.04%
Depreciation, Depletion And Amortization $670.0K $447.3K $171.8K
YoY Change 219.05% 160.41% 43.13%
Cash From Operating Activities $1.510M $1.290M -$110.0K
YoY Change 12.69% -1272.73% 37.5%
INVESTING ACTIVITIES
Capital Expenditures -$31.51M -$27.36M -$370.0K
YoY Change -6.3% 7294.59% -95.07%
Acquisitions
YoY Change
Other Investing Activities $360.0K -$300.0K -$200.0K
YoY Change 157.14% 50.0% -68.25%
Cash From Investing Activities -$31.14M -$27.66M -$560.0K
YoY Change -7.02% 4839.29% -93.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.22M 25.56M -2.350M
YoY Change 223.23% -1187.66% -129.67%
NET CHANGE
Cash From Operating Activities 1.510M 1.290M -110.0K
Cash From Investing Activities -31.14M -27.66M -560.0K
Cash From Financing Activities 29.22M 25.56M -2.350M
Net Change In Cash -410.0K -810.0K -3.020M
YoY Change -98.23% -73.18% 941.38%
FREE CASH FLOW
Cash From Operating Activities $1.510M $1.290M -$110.0K
Capital Expenditures -$31.51M -$27.36M -$370.0K
Free Cash Flow $33.02M $28.65M $260.0K
YoY Change -5.58% 10919.23% -96.5%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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land Related Party Transaction Amended Base Management Fee
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land Percentage Of Rental Revenue
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397833
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land Operating Expenses Before Credit To Incentive Fee
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2 Farm
land Related Party Transaction Prior Management Advisory Fee
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land Debt Instrument Weighted Average Interest Rate
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0.036 pure
land Management Advisory Fee Allocated Overhead Expenses
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land Credit To Incentive Fee
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41037
land Related Party Transaction Net Incentive Fee
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land Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
262746
land Administration Fee Allocated Overhead Expenses
AdministrationFeeAllocatedOverheadExpenses
4498
land Number Of Farms Acquired
NumberOfFarmsAcquired
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land Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
2605718
land Decrease In Net Income Due To Out Of Period Adjustment
DecreaseInNetIncomeDueToOutOfPeriodAdjustment
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land Related Party Transaction Credit From Voluntary Irrevocable
RelatedPartyTransactionCreditFromVoluntaryIrrevocable
41037
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BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.02
land Administration Fee
AdministrationFee
135402
land Number Of Farms
NumberOfFarms
14 Farm
land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
1796918
land Percentage Of Area Of Land
PercentageOfAreaOfLand
1.000 pure
land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-52956
land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
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land Management Advisory Fee Allocated Payroll And Benefits
ManagementAdvisoryFeeAllocatedPayrollAndBenefits
38668
land Related Party Transaction Prior Administration Fee
RelatedPartyTransactionPriorAdministrationFee
18532
land Business Acquisitions Pro Forma Other Expense
BusinessAcquisitionsProFormaOtherExpense
1463264
dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
GLADSTONE LAND Corp
dei Trading Symbol
TradingSymbol
LAND
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.126 pure
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2032643
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y2M12D
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000 pure
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in accordance 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>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6555539 shares
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.27
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.126 pure
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Entity Central Index Key
EntityCentralIndexKey
0001495240
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.000 pure
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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us-gaap Repayments Of Secured Debt
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PaymentsOfStockIssuanceCosts
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TenantReimbursements
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RepaymentsOfLongTermLinesOfCredit
18100000
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1763171
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592000
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46456
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
89655
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
341733
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-159700
us-gaap Operating Income Loss
OperatingIncomeLoss
1054243
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
4828033
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1213943
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
299766
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
37899921
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
1839082
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
695254
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Investment Income Interest
InvestmentIncomeInterest
10945
us-gaap Interest And Other Income
InterestAndOtherIncome
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us-gaap Real Estate Revenue Net
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4839246
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
9587
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
6113996
us-gaap Depreciation Depletion And Amortization
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us-gaap Dividends
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1763171
us-gaap Interest Expense
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1280931
us-gaap Professional Fees
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
35648
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ProvisionForDoubtfulAccounts
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
134502
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-13240086
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20103
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
24920630
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14100000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-40193359
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
14122000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
334886
us-gaap Management Fee Expense
ManagementFeeExpense
778047
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
12513600
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
591359
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
280924
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
56700000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
21500000
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
652000
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
284924
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1304081
land Related Party Transaction Amended Base Management Fee
RelatedPartyTransactionAmendedBaseManagementFee
778047
land Percentage Of Rental Revenue
PercentageOfRentalRevenue
1.000 pure
land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition Two
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionTwo
0.20 pure
land Additions To Real Estate Included In Accounts Payable And Accrued Expenses
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpenses
191610
land Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
20103
land Minimum Percentage Likelihood To Recognize Tax Benefit From Uncertain Tax Position
MinimumPercentageLikelihoodToRecognizeTaxBenefitFromUncertainTaxPosition
0.50 pure
land Incentive Fee Per Advisory Agreement
IncentiveFeePerAdvisoryAgreement
0.0175 pure
land Area Of Real Estate Properties
AreaOfRealEstateProperties
7641 acre
land Business Acquisitions Pro Forma Net Income Loss Before Income Tax
BusinessAcquisitionsProFormaNetIncomeLossBeforeIncomeTax
319869
land Related Party Transaction Amended Administration Fee
RelatedPartyTransactionAmendedAdministrationFee
276157
land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne
1.00 pure
land Operating Expenses Before Credit To Incentive Fee
OperatingExpensesBeforeCreditToIncentiveFee
3785003
land Number Of Farms Acquired Not Covered Under Business Combination
NumberOfFarmsAcquiredNotCoveredUnderBusinessCombination
8 Farm
land Offering Costs Included In Accounts Payable And Accrued Liabilities
OfferingCostsIncludedInAccountsPayableAndAccruedLiabilities
101140
land Initial Farmable Area Under Lease
InitialFarmableAreaUnderLease
121 acre
land Annual Base Management Fee In Percentage Of Stockholders Equity In Excess Of Recorded Value Of Preferred Stock
AnnualBaseManagementFeeInPercentageOfStockholdersEquityInExcessOfRecordedValueOfPreferredStock
0.010 pure
land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
26684
land Debt Instrument Weighted Average Interest Rate
DebtInstrumentWeightedAverageInterestRate
0.036 pure
land Maximum Overhead Expenses As Percentage Of Average Invested Assets
MaximumOverheadExpensesAsPercentageOfAverageInvestedAssets
0.020 pure
land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
0
land Business Acquisition Pro Forma Weighted Average Number Of Common Shares Outstanding Basic And Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
6555539 shares
land Related Party Transaction Net Incentive Fee
RelatedPartyTransactionNetIncentiveFee
land Maximum Annual Percentage Of Adjusted Stockholders Equity To Pay Full Pre Incentive Fee To Adviser
MaximumAnnualPercentageOfAdjustedStockholdersEquityToPayFullPreIncentiveFeeToAdviser
0.0875 pure
land Follow On Lease Number Of Renewal Options
FollowOnLeaseNumberOfRenewalOptions
1 Renewal_Options
land Overhead Expense Reimbursements Limitation Period
OverheadExpenseReimbursementsLimitationPeriod
P1Y
land 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
land Number Of Farms Acquired
NumberOfFarmsAcquired
8 Farm
land Percentage Of Expected Annual Base Management Fee To Aggregate Stockholders Equity
PercentageOfExpectedAnnualBaseManagementFeeToAggregateStockholdersEquity
0.020 pure
land Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
4023811
land Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.05
land Additional Debt To Finance Farms Acquisition
AdditionalDebtToFinanceFarmsAcquisition
0
land Administration Fee
AdministrationFee
276157
land Number Of Farms
NumberOfFarms
29 Farm
land Percentage Of Area Of Land
PercentageOfAreaOfLand
1.000 pure
land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-120666
land Additional Farmable Area Under Lease
AdditionalFarmableAreaUnderLease
60 acre
land Annualized Incentive Fee Per Advisory Agreement
AnnualizedIncentiveFeePerAdvisoryAgreement
0.07 pure
land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
3785003
land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
4228
land Maximum Payroll And Benefits Reimbursed As Percentage Of Average Invested Assets
MaximumPayrollAndBenefitsReimbursedAsPercentageOfAverageInvestedAssets
0.020 pure
land Proceeds From Refund On Deposits
ProceedsFromRefundOnDeposits
50000
land 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
land Business Acquisitions Pro Forma Other Expense
BusinessAcquisitionsProFormaOtherExpense
1770316
land Number Of Real Estate Farms
NumberOfRealEstateFarms
29 Farm
land Maximum Management Advisory Fee As Percentage Of Average Invested Assets
MaximumManagementAdvisoryFeeAsPercentageOfAverageInvestedAssets
0.020 pure
land Number Of Properties Recoverable
NumberOfPropertiesRecoverable
2 Property
land Insurance Proceeds Received Utilized For Repairs To Real Estate Assets
InsuranceProceedsReceivedUtilizedForRepairsToRealEstateAssets
34879
land Insurance Proceeds Received Capitalized As Real Estate Asset Additions
InsuranceProceedsReceivedCapitalizedAsRealEstateAssetAdditions
89888
CY2013 land Decrease In Net Income Due To Out Of Period Adjustment
DecreaseInNetIncomeDueToOutOfPeriodAdjustment
40438
CY2013Q1 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
41037
CY2014Q2 land Number Of Properties Damaged In Fire
NumberOfPropertiesDamagedInFire
2 Property
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6605264 shares
CY2014Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.09
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2014Q3 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
756
CY2014Q3 us-gaap Tenant Reimbursements
TenantReimbursements
6569
CY2014Q3 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
296934
CY2014Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
48781
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
107232
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
301583
CY2014Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
1771106
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-194351
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
100375
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
971
CY2014Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
172
CY2014Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
1777675
CY2014Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
8838
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
447251
CY2014Q3 us-gaap Interest Expense
InterestExpense
501094
CY2014Q3 us-gaap Professional Fees
ProfessionalFees
164269
CY2014Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
72493
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6857
CY2014Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
114140
CY2014Q3 us-gaap Management Fee Expense
ManagementFeeExpense
300552
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
167069
CY2014Q3 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
137859
CY2014Q3 land Related Party Transaction Amended Base Management Fee
RelatedPartyTransactionAmendedBaseManagementFee
300552
CY2014Q3 land Related Party Transaction Amended Administration Fee
RelatedPartyTransactionAmendedAdministrationFee
144952
CY2014Q3 land Operating Expenses Before Credit To Incentive Fee
OperatingExpensesBeforeCreditToIncentiveFee
1476092
CY2014Q3 land Debt Instrument Weighted Average Interest Rate
DebtInstrumentWeightedAverageInterestRate
0.036 pure
CY2014Q3 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
0
CY2014Q3 land Related Party Transaction Net Incentive Fee
RelatedPartyTransactionNetIncentiveFee
CY2014Q3 land Administration Fee
AdministrationFee
144952
CY2014Q3 land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
1476092
CY2014Q3 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
3768
CY2013Q4 land Decrease In Net Income Due To Out Of Period Adjustment
DecreaseInNetIncomeDueToOutOfPeriodAdjustment
9638
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6530264 shares
CY2013Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.36
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.00
CY2013Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
0
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
90166
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
348616
CY2013Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
996096
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-258450
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
4760
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
17594
CY2013Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
213
CY2013Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
996096
CY2013Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
171751
CY2013Q3 us-gaap Interest Expense
InterestExpense
276044
CY2013Q3 us-gaap Professional Fees
ProfessionalFees
140147
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
11218
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
85406
CY2013Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
59970
CY2013Q3 us-gaap Management Fee Expense
ManagementFeeExpense
19485
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
192001
CY2013Q3 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
24564
CY2013Q3 land Related Party Transaction Amended Base Management Fee
RelatedPartyTransactionAmendedBaseManagementFee
19485
CY2013Q3 land Related Party Transaction Amended Administration Fee
RelatedPartyTransactionAmendedAdministrationFee
39562
CY2013Q3 land Operating Expenses Before Credit To Incentive Fee
OperatingExpensesBeforeCreditToIncentiveFee
647480
CY2013Q3 land Debt Instrument Weighted Average Interest Rate
DebtInstrumentWeightedAverageInterestRate
0.036 pure
CY2013Q3 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
0
CY2013Q3 land Related Party Transaction Net Incentive Fee
RelatedPartyTransactionNetIncentiveFee
CY2013Q3 land Decrease In Net Income Due To Out Of Period Adjustment
DecreaseInNetIncomeDueToOutOfPeriodAdjustment
30800
CY2013Q3 land Administration Fee
AdministrationFee
39562
CY2013Q3 land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
647480
CY2013Q3 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
0

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