2019 Q4 Form 10-Q Financial Statement

#000145293619000053 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $24.28M $25.28M $27.16M
YoY Change 2.41% -6.9% -25.42%
Cost Of Revenue $13.32M
YoY Change
Gross Profit $10.96M
YoY Change
Gross Profit Margin 45.14%
Selling, General & Admin $1.870M
YoY Change
% of Gross Profit 17.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.00M $9.239M $9.826M
YoY Change -5.97% -25.72%
% of Gross Profit 310.31%
Operating Expenses $10.60M
YoY Change
Operating Profit $360.0K $14.52M $43.26M
YoY Change -66.45%
Interest Expense -$7.660M $7.400M $8.400M
YoY Change -11.9% -12.5%
% of Operating Profit -2127.78% 50.98% 19.42%
Other Income/Expense, Net -$37.10M
YoY Change
Pretax Income -$28.70M $36.85M
YoY Change -449.59%
Income Tax -$68.00K $426.0K
% Of Pretax Income 1.16%
Net Earnings -$28.59M $772.0K $36.50M
YoY Change -367.31% -97.88% -446.47%
Net Earnings / Revenue -117.75% 3.05% 134.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$432.6K
COMMON SHARES
Basic Shares Outstanding 66.08M shares 66.32M shares 54.64M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.49M
YoY Change
Cash & Equivalents $76.49M $103.7M $93.36M
Short-Term Investments
Other Short-Term Assets $13.99M
YoY Change
Inventory
Prepaid Expenses
Receivables $16.59M
Other Receivables $0.00
Total Short-Term Assets $107.1M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $759.5M
YoY Change
Goodwill $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $159.7M
YoY Change
Other Assets $12.00M
YoY Change
Total Long-Term Assets $934.2M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $107.1M
Total Long-Term Assets $934.2M
Total Assets $1.041B $1.010B $1.109B
YoY Change 3.61% -8.97% -17.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.33M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.28M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $674.5M
YoY Change
Other Long-Term Liabilities $22.98M
YoY Change
Total Long-Term Liabilities $697.5M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $39.28M
Total Long-Term Liabilities $697.5M
Total Liabilities $736.8M $708.1M $785.5M
YoY Change 3.62% -9.86% -25.53%
SHAREHOLDERS EQUITY
Retained Earnings -$277.2M -$247.4M -$107.8M
YoY Change 7.87% 129.56% -38.05%
Common Stock $659.0K $661.0K $542.0K
YoY Change -1.35% 21.96% -4.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $276.6M $301.0M $321.4M
YoY Change
Total Liabilities & Shareholders Equity $1.041B $1.010B $1.109B
YoY Change 3.61% -8.97% -17.47%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$28.59M $772.0K $36.50M
YoY Change -367.31% -97.88% -446.47%
Depreciation, Depletion And Amortization $34.00M $9.239M $9.826M
YoY Change -5.97% -25.72%
Cash From Operating Activities -$4.156M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$90.27M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $59.25M
YoY Change
Cash From Investing Activities -$31.01M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -41.56M
YoY Change
NET CHANGE
Cash From Operating Activities -4.156M
Cash From Investing Activities -31.01M
Cash From Financing Activities -41.56M
Net Change In Cash -76.72M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$4.156M
Capital Expenditures -$90.27M
Free Cash Flow $86.11M
YoY Change

Facts In Submission

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CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
4000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1969000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
301884000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
294733000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
36421000 USD
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
454000 USD
CY2018Q3 pacoaksor Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
-1298000 USD
CY2018Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
5473000 USD
CY2018Q3 us-gaap Dividends Common Stock
DividendsCommonStock
870000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1000 USD
CY2018Q3 pacoaksor Noncontrolling Interest Contribution
NoncontrollingInterestContribution
17000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
323983000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
293964000 USD
us-gaap Profit Loss
ProfitLoss
13449000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
835000 USD
pacoaksor Adjustments To Additional Paid In Capital Transfers From Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersFromRedeemableCommonStock
6577000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
7433000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
1721000 USD
pacoaksor Real Estate Loss Dueto Property Damages
RealEstateLossDuetoPropertyDamages
0 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
6000 USD
pacoaksor Noncontrolling Interest Contribution
NoncontrollingInterestContribution
12000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3793000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
301884000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
260983000 USD
CY2017Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
2472000 USD
us-gaap Profit Loss
ProfitLoss
22711000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1418000 USD
us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
150299000 USD
pacoaksor Adjustments To Additional Paid In Capital Transfers From Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersFromRedeemableCommonStock
8671000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
120544000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
2786000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1000 USD
pacoaksor Noncontrolling Interest Contribution
NoncontrollingInterestContribution
760000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
323983000 USD
us-gaap Profit Loss
ProfitLoss
13449000 USD
us-gaap Profit Loss
ProfitLoss
22711000 USD
pacoaksor Real Estate Loss Dueto Property Damages
RealEstateLossDuetoPropertyDamages
964000 USD
us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
506000 USD
us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
0 USD
pacoaksor Equityinlossofunconsolidatedjointventure
Equityinlossofunconsolidatedjointventure
-6677000 USD
pacoaksor Equityinlossofunconsolidatedjointventure
Equityinlossofunconsolidatedjointventure
7394000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25276000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
26133000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
19304000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-6546000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
18128000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
45340000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-861000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-26000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-50000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-21000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3213000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3508000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-5000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-856000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-853000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2683000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2675000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
13000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
104000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-73000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
45000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-10634000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
9106000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2164000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1744000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4527000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5901000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-559000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
37000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
8000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
39000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-97000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
409000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2144000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
439000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
90266000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
312348000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
25833000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
21147000 USD
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
43164000 USD
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
85615000 USD
pacoaksor Reimbursementof Construction Costs
ReimbursementofConstructionCosts
0 USD
pacoaksor Reimbursementof Construction Costs
ReimbursementofConstructionCosts
1636000 USD
pacoaksor Proceedsfrom Property Damage Insurance Policies
ProceedsfromPropertyDamageInsurancePolicies
438000 USD
pacoaksor Proceedsfrom Property Damage Insurance Policies
ProceedsfromPropertyDamageInsurancePolicies
0 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
134000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
28000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
163000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
5050000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1320000 USD
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
8051000 USD
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
2199000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
10015000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
15851000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
24076000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
633000 USD
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
-7750000 USD
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
pacoaksor Proceeds For Future Development Obligations
ProceedsForFutureDevelopmentObligations
0 USD
pacoaksor Proceeds For Future Development Obligations
ProceedsForFutureDevelopmentObligations
1055000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
1162000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47847000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-260853000 USD
pacoaksor Proceedsfrom Notesand Bonds Payable
ProceedsfromNotesandBondsPayable
84268000 USD
pacoaksor Proceedsfrom Notesand Bonds Payable
ProceedsfromNotesandBondsPayable
184351000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
73250000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
34348000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1121000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2791000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7433000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
120544000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
458000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
886000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38983000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
12000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
760000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
3793000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1822000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-383000 USD
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12013000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2367000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1127000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-48007000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-271300000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
162727000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
377182000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114720000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105882000 USD
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.001
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.999
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
561700000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
76300000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
282800000 USD
CY2011Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
220994 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
55249 shares
CY2011Q4 us-gaap Common Stock Value
CommonStockValue
2000000.0 USD
CY2019Q3 pacoaksor Number Of Investments In Unconsolidated Joint Venture
NumberOfInvestmentsInUnconsolidatedJointVenture
5 investment
CY2019Q3 pacoaksor Numberof Investmentsin Equity Securities
NumberofInvestmentsinEquitySecurities
4 investment
us-gaap Use Of Estimates
UseOfEstimates
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
CY2019Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2600000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation.  These reclassifications have not changed the results of operations of prior periods.  During the nine months ended September 30, 2019, the Company sold one apartment property and one retail property. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. Upon adoption of the lease accounting standards of Topic 842 on January 1, 2019 (described below), the Company accounted for tenant reimbursements for property taxes, insurance and common area maintenance as variable lease payments and recorded these amounts as rental income on the statement of operations. For the three and nine months ended September 30, 2018, the Company reclassified $2.7 million and $8.1 million of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.00860000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.02580000
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01597500
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.04792500
CY2018Q4 us-gaap Incentive To Lessee
IncentiveToLessee
1300000 USD
CY2019Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
3400000 sqft
CY2019Q3 pacoaksor Percentage Of Real Estate Portfolio Occupied
PercentageOfRealEstatePortfolioOccupied
0.81
CY2019Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
795255000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
679309000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
66332000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
43742000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
728923000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
635567000 USD
CY2019Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
795255000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
66332000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
728923000 USD
pacoaksor Lease Weighted Average Remaining Lease Term
LeaseWeightedAverageRemainingLeaseTerm
P4Y8M12D
pacoaksor Recognition Of Deferred Revenue Net Of Discontinued Operations
RecognitionOfDeferredRevenueNetOfDiscontinuedOperations
3200000 USD
pacoaksor Recognition Of Deferred Revenue Net Of Discontinued Operations
RecognitionOfDeferredRevenueNetOfDiscontinuedOperations
3500000 USD
CY2019Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
14900000 USD
CY2018Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
9600000 USD
CY2019Q3 us-gaap Incentive To Lessee
IncentiveToLessee
3300000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
59388000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
16218000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
62786000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
52139000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
44360000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
133092000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
367983000 USD
CY2019Q3 pacoaksor Number Of Tenants
NumberOfTenants
250 tenant
CY2019Q3 pacoaksor Annualized Base Rent
AnnualizedBaseRent
16804000 USD
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.242
CY2019Q3 pacoaksor Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
37862000 USD
CY2018Q4 pacoaksor Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
31221000 USD
CY2019Q3 pacoaksor Above Market Leases Gross
AboveMarketLeasesGross
3714000 USD
CY2018Q4 pacoaksor Above Market Leases Gross
AboveMarketLeasesGross
3714000 USD
CY2019Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
6959000 USD
CY2018Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
6418000 USD
CY2019Q3 pacoaksor Tenant Origination And Absorption Costs Accumulated Amortization
TenantOriginationAndAbsorptionCostsAccumulatedAmortization
11490000 USD
CY2018Q4 pacoaksor Tenant Origination And Absorption Costs Accumulated Amortization
TenantOriginationAndAbsorptionCostsAccumulatedAmortization
7133000 USD
CY2019Q3 pacoaksor Above Market Leases Accumulated Amortization
AboveMarketLeasesAccumulatedAmortization
640000 USD
CY2018Q4 pacoaksor Above Market Leases Accumulated Amortization
AboveMarketLeasesAccumulatedAmortization
337000 USD
CY2019Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
2400000 USD
CY2018Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1471000 USD
CY2019Q3 pacoaksor Tenant Origination And Absorption Costs Net
TenantOriginationAndAbsorptionCostsNet
26372000 USD
CY2019Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
4559000 USD
CY2018Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
4947000 USD
CY2019Q3 pacoaksor Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
2000000 USD
CY2018Q4 pacoaksor Tenant Origination And Absorption Costs Net
TenantOriginationAndAbsorptionCostsNet
24088000 USD
CY2019Q3 pacoaksor Above Market Leases Net
AboveMarketLeasesNet
3074000 USD
CY2018Q4 pacoaksor Above Market Leases Net
AboveMarketLeasesNet
3377000 USD
CY2018Q3 pacoaksor Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
2312000 USD
CY2019Q3 pacoaksor Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
101000 USD
CY2018Q3 pacoaksor Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
104000 USD
CY2019Q3 pacoaksor Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
421000 USD
CY2018Q3 pacoaksor Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
457000 USD
pacoaksor Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
5324000 USD
pacoaksor Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
5937000 USD
pacoaksor Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
303000 USD
pacoaksor Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
259000 USD
pacoaksor Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
1159000 USD
CY2019Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
3845000 USD
CY2018Q3 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
741000 USD
pacoaksor Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
1112000 USD
CY2019Q3 pacoaksor Tax Abatement Asset
TaxAbatementAsset
1100000 USD
CY2018Q4 pacoaksor Tax Abatement Asset
TaxAbatementAsset
1600000 USD
CY2019Q3 pacoaksor Numberof Investmentsin Equity Securities
NumberofInvestmentsinEquitySecurities
4 investment
CY2019Q3 us-gaap Investment Owned Balance Shares
InvestmentOwnedBalanceShares
60403796 shares
CY2019Q3 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
79112000 USD
CY2018Q4 us-gaap Investment Owned Balance Shares
InvestmentOwnedBalanceShares
61533775 shares
CY2018Q4 us-gaap Available For Sale Securities Equity Securities
AvailableForSaleSecuritiesEquitySecurities
73876000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
19304000 USD
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
-6546000 USD
CY2019Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 USD
CY2018Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-57000 USD
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
-3397000 USD
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
32000 USD
CY2019Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
3845000 USD
CY2018Q3 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
684000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
15907000 USD
us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
-6514000 USD
CY2019Q3 pacoaksor Interest And Dividend Income Securities Available For Sale1
InterestAndDividendIncomeSecuritiesAvailableForSale1
2200000 USD
pacoaksor Interest And Dividend Income Securities Available For Sale1
InterestAndDividendIncomeSecuritiesAvailableForSale1
4300000 USD
CY2018Q3 pacoaksor Interest And Dividend Income Securities Available For Sale1
InterestAndDividendIncomeSecuritiesAvailableForSale1
2900000 USD
pacoaksor Interest And Dividend Income Securities Available For Sale1
InterestAndDividendIncomeSecuritiesAvailableForSale1
5100000 USD
CY2019Q3 pacoaksor Notesand Bond Payable Principal Outstanding
NotesandBondPayablePrincipalOutstanding
668080000 USD
CY2018Q4 pacoaksor Notesand Bond Payable Principal Outstanding
NotesandBondPayablePrincipalOutstanding
663318000 USD
CY2019Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
808000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
198000 USD
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6348000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
8044000 USD
CY2019Q3 pacoaksor Notesand Bond Payable Net
NotesandBondPayableNet
662540000 USD
CY2018Q4 pacoaksor Notesand Bond Payable Net
NotesandBondPayableNet
655472000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
7400000 USD
us-gaap Interest Expense
InterestExpense
21800000 USD
CY2019Q3 pacoaksor Amortization Of Debt Issuance Costs Excluding Other Liabilities
AmortizationOfDebtIssuanceCostsExcludingOtherLiabilities
900000 USD
pacoaksor Amortization Of Debt Issuance Costs Excluding Other Liabilities
AmortizationOfDebtIssuanceCostsExcludingOtherLiabilities
2600000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
8400000 USD
us-gaap Interest Expense
InterestExpense
22800000 USD
CY2018Q3 pacoaksor Amortization Of Debt Issuance Costs Excluding Other Liabilities
AmortizationOfDebtIssuanceCostsExcludingOtherLiabilities
1000000.0 USD
pacoaksor Amortization Of Debt Issuance Costs Excluding Other Liabilities
AmortizationOfDebtIssuanceCostsExcludingOtherLiabilities
2700000 USD
CY2019Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
2300000 USD
CY2018Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
5200000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
30399000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
107367000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
278162000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
131233000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
115764000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
5155000 USD
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
668080000 USD
CY2019Q3 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
0 USD
CY2018Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
13000000 USD
CY2019Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
444802000 USD
CY2018Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
403802000 USD
CY2019Q3 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
65000 USD
us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
198000 USD
CY2018Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
44869000 USD
CY2018Q3 us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
74000 USD
us-gaap Payment For Administrative Fees
PaymentForAdministrativeFees
235000 USD
CY2019Q3 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
51537000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2079000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1916000 USD
us-gaap Interest Paid Net
InterestPaidNet
21981000 USD
us-gaap Interest Paid Net
InterestPaidNet
22485000 USD
pacoaksor Noncash Increase In Accrued Improvements To Real Estate
NoncashIncreaseInAccruedImprovementsToRealEstate
3414000 USD
pacoaksor Noncash Increase In Accrued Improvements To Real Estate
NoncashIncreaseInAccruedImprovementsToRealEstate
4896000 USD
pacoaksor Mortgage Loan Assumedby Buyerin Connectionwith Saleof Real Estate
MortgageLoanAssumedbyBuyerinConnectionwithSaleofRealEstate
23663000 USD
pacoaksor Mortgage Loan Assumedby Buyerin Connectionwith Saleof Real Estate
MortgageLoanAssumedbyBuyerinConnectionwithSaleofRealEstate
0 USD
pacoaksor Redeemable Common Stock Payable
RedeemableCommonStockPayable
3423000 USD
pacoaksor Redeemable Common Stock Payable
RedeemableCommonStockPayable
4442000 USD
pacoaksor Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
835000 USD
pacoaksor Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
1418000 USD
pacoaksor Distributionspaidtocommonstockholdersthroughcommonstockissuancespursuanttospecialdividend
Distributionspaidtocommonstockholdersthroughcommonstockissuancespursuanttospecialdividend
0 USD
pacoaksor Distributionspaidtocommonstockholdersthroughcommonstockissuancespursuanttospecialdividend
Distributionspaidtocommonstockholdersthroughcommonstockissuancespursuanttospecialdividend
150299000 USD
pacoaksor Redemptionof Held To Maturity Securities In Exchange Transaction
RedemptionofHeldToMaturitySecuritiesInExchangeTransaction
2992000 USD
pacoaksor Redemptionof Held To Maturity Securities In Exchange Transaction
RedemptionofHeldToMaturitySecuritiesInExchangeTransaction
0 USD

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