2016 Q1 Form 10-Q Financial Statement

#000119312516588492 Filed on May 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $11.42M $9.025M $2.310M
YoY Change 394.55% 3218.01%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.935M $9.184M $2.219M
YoY Change 302.66% 375.61%
Operating Profit $2.489M -$159.0K $91.00K
YoY Change 2635.16% -90.42%
Interest Expense -$879.0K -$683.0K -$370.0K
YoY Change 137.57% 596.94%
% of Operating Profit -35.32% -406.59%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $1.610M -$842.0K -$279.0K
YoY Change -677.06% -52.08%
Net Earnings / Revenue 14.09% -9.33% -12.08%
Basic Earnings Per Share $0.03 -$0.02 -$0.02
Diluted Earnings Per Share $0.03 -$0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 53.67M shares 43.74M shares 11.61M shares
Diluted Shares Outstanding 53.68M shares 43.74M shares 11.61M shares

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $50.96M $31.26M $29.86M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $610.0M $506.6M
YoY Change 417.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $127.4M $106.3M
YoY Change 160.77%
SHAREHOLDERS EQUITY
Retained Earnings -$32.95M -$26.06M
YoY Change 754.74%
Common Stock $585.0K $485.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $482.6M $400.3M
YoY Change
Total Liabilities & Shareholders Equity $610.0M $506.6M
YoY Change 417.67%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income $1.610M -$842.0K -$279.0K
YoY Change -677.06% -52.08%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $4.631M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$85.82M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$93.53M -$103.2M
YoY Change -9.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $100.9M
YoY Change
NET CHANGE
Cash From Operating Activities $4.631M
Cash From Investing Activities -$85.82M
Cash From Financing Activities $100.9M
Net Change In Cash $19.70M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $4.631M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 cik0001567925 Additions To Real Estate Held For Investment And Capital Improvements
AdditionsToRealEstateHeldForInvestmentAndCapitalImprovements
28395000 USD
CY2016Q1 cik0001567925 Additions To Real Estate Held For Investment And Capital Improvements
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85650000 USD
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8004000 USD
CY2016Q1 cik0001567925 Adjustmentsto Additional Paidin Capital Distributionand Servicing Fees
AdjustmentstoAdditionalPaidinCapitalDistributionandServicingFees
22000 USD
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P14Y6M
CY2016Q1 cik0001567925 Below Market Lease Weighted Average Remaining Life
BelowMarketLeaseWeightedAverageRemainingLife
P14Y3M18D
CY2015Q1 cik0001567925 Business Acquisition Pro Forma Net Income Loss Attributable To Parent
BusinessAcquisitionProFormaNetIncomeLossAttributableToParent
3286000 USD
CY2016Q1 cik0001567925 Business Acquisition Pro Forma Net Income Loss Attributable To Parent
BusinessAcquisitionProFormaNetIncomeLossAttributableToParent
3798000 USD
CY2016Q1 cik0001567925 Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed In Place Leases
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInPlaceLeases
6170000 USD
CY2016Q1 cik0001567925 Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tenant Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTenantImprovements
1326000 USD
CY2016Q1 cik0001567925 Capitalized Acquisition Costs And Fees Additions
CapitalizedAcquisitionCostsAndFeesAdditions
1387000 USD
CY2016Q1 cik0001567925 Cumulative Non Compounded Annual Return
CumulativeNonCompoundedAnnualReturn
0.06
CY2015Q4 cik0001567925 Debt Issuance Costs Lineof Credit Arrangements Net
DebtIssuanceCostsLineofCreditArrangementsNet
103000 USD
CY2016Q1 cik0001567925 Debt Issuance Costs Lineof Credit Arrangements Net
DebtIssuanceCostsLineofCreditArrangementsNet
98000 USD
CY2015Q4 cik0001567925 Investment Building And Building Improvements Net
InvestmentBuildingAndBuildingImprovementsNet
361632000 USD
CY2016Q1 cik0001567925 Investment Building And Building Improvements Net
InvestmentBuildingAndBuildingImprovementsNet
419863000 USD
CY2016Q1 cik0001567925 Line Of Credit Facility Increase In Borrowing Capacity Properties Added
LineOfCreditFacilityIncreaseInBorrowingCapacityPropertiesAdded
9 property
CY2016Q1 cik0001567925 Line Of Credit Facility Increase In Current Borrowing Capacity
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57555000 USD
CY2016Q1 cik0001567925 Longterm Lineof Credit Gross
LongtermLineofCreditGross
110000000 USD
CY2016Q1 cik0001567925 Number Of Metropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMetropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
21 metropolitan
CY2016Q1 cik0001567925 Number Of Real Estate Investments
NumberOfRealEstateInvestments
26 real_estate_investment
CY2016Q1 cik0001567925 Numberof Micropolitan Statistical Areas In Which Company Owns Rental Property
NumberofMicropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
1 micropolitan
CY2016Q1 cik0001567925 Period Of Notice Required For Changes To Share Repurchase Program
PeriodOfNoticeRequiredForChangesToShareRepurchaseProgram
P30D
CY2016Q1 cik0001567925 Period Required To Issue Class B Units
PeriodRequiredToIssueClassBUnits
P30D
CY2016Q1 cik0001567925 Share Repurchase Program Percentageof Outstanding Common Stock Maximum
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0.05
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CY2016Q1 dei Document Type
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CY2016Q1 dei Entity Filer Category
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Carter Validus Mission Critical REIT II, Inc.
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CY2016Q1 us-gaap Accounts Payable Current And Noncurrent
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CY2016Q1 us-gaap Accounts Payable Related Parties Current And Noncurrent
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400000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
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206000 USD
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12070000 USD
CY2016Q1 us-gaap Payments Of Stock Issuance Costs
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CY2015Q1 us-gaap Payments To Acquire Real Estate
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28383000 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
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85403000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
10218000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
12270000 USD
CY2015Q4 us-gaap Prepaid Expense Current And Noncurrent
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CY2016Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
810000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
103191000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
93868000 USD
CY2015Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
2000000 USD
CY2016Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
20000000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-279000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
1610000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
5262000 USD
CY2016Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
7955000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
410514000 USD
CY2016Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
487124000 USD
CY2015Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
39500000 USD
CY2016Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1927000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1697000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26061000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-32949000 USD
CY2015Q1 us-gaap Revenues
Revenues
2310000 USD
CY2016Q1 us-gaap Revenues
Revenues
11424000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
11000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
776000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
4626000 USD
CY2016Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
93868000 USD
CY2016Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
338000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
400334000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
482555000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
400336000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
482557000 USD
CY2015Q1 us-gaap Straight Line Rent
StraightLineRent
315000 USD
CY2016Q1 us-gaap Straight Line Rent
StraightLineRent
1166000 USD
CY2015Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
505000 USD
CY2016Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
764000 USD
CY2015Q1 us-gaap Tenant Reimbursements
TenantReimbursements
87000 USD
CY2016Q1 us-gaap Tenant Reimbursements
TenantReimbursements
1403000 USD
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
13000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11612028 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53679723 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11612028 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53666785 shares
CY2016Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;">Concentration of Credit Risk and Significant Leases</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company had cash on deposit in certain financial institutions which were in excess of current federally insured levels. The Company limits its cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. To date, the Company has experienced no loss or lack of access to cash in its accounts. Concentration of credit risk with respect to accounts receivable from tenants is limited.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company owned real estate investments in </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">21</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> MSAs and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">one</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> &#181;SA, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">four</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> MSAs of which accounted for 10.0% or more of rental revenue. Real estate investments located in the Houston-The Woodlands-Sugar Land, Texas MSA, the Dallas-Fort Worth-Arlington, Texas MSA, the Oklahoma City, Oklahoma MSA, and the Cincinnati, Ohio-Kentucky-Indiana MSA accounted for </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">15.7%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">12.8%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">11.6%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">10.4%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, respectively, of rental revenue for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">three months</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> ended </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company had </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">one</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> tenant's exposure concentration that accounted for 10.0% or more of rental revenue. The leases with tenants under common control of the guarantor Post Acute Medical, LLC accounted for </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">13.6%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> of rental revenue for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">three months</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> ended </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">.</font></div></div>
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:18px;text-align:left;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-weight:bold;">Organization and Business Operations</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;"> </font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Carter Validus Mission Critical REIT II, Inc., or the Company, is a Maryland corporation that was formed on January&#160;11, 2013, which elected to be taxed as a real estate investment trust, or a REIT, under the Internal Revenue Code of 1986, as amended, for federal income tax purposes commencing with its taxable year ended December&#160;31, 2014. The Company commenced principal operations on July&#160;3, 2014 when it satisfied the minimum offering requirement and issued approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">213,333</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> shares of Class&#160;A common stock for gross proceeds of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$2,000,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">. Substantially all of the Company&#8217;s business is conducted through Carter Validus Operating Partnership II, LP, a Delaware limited partnership, or the Operating Partnership, formed on January&#160;10, 2013. The Company is the sole general partner of the Operating Partnership and Carter Validus Advisors II, LLC, or the Advisor, is the initial limited partner of the Operating Partnership. </font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The Company is offering for sale a maximum of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$2,350,000,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> in shares of common stock, consisting of up to </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$2,250,000,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> in shares in its primary offering and up to </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$100,000,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> in shares of common stock to be made available pursuant to the Company&#8217;s distribution reinvestment plan, or the DRIP, on a &#8220;best efforts&#8221; basis, or the Offering, pursuant to a registration statement on Form S-11, or the Registration Statement, filed with the Securities and Exchange Commission, or the SEC, under the Securities Act of 1933, as amended, or the Securities Act, which was declared effective on May&#160;29, 2014. The Company has registered for offering shares of Class A common stock and shares of Class&#160;T common stock, in any combination with a dollar value up to the maximum primary offering amount. The initial offering price for the shares in the primary offering is </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$10.00</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> per Class&#160;A share and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$9.574</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> per Class T share.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company had accepted investors&#8217; subscriptions for and issued approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">58,514,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> shares of Class&#160;A and Class T common stock (including shares of common stock issued pursuant to the DRIP) in the Offering, resulting in receipt of gross proceeds of approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$580,052,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, before selling commissions and dealer manager fees of approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$52,643,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, distribution and servicing fees of approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$22,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> and other offering costs of approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$11,290,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company had approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$1,769,948,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> in Class&#160;A shares and Class T shares of common stock remaining in the Offering.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Substantially all of the Company&#8217;s business is managed by the Advisor. Carter Validus Real Estate Management Services&#160;II, LLC, or the Property Manager, an affiliate of the Advisor, serves as the Company&#8217;s property manager. The Advisor and the Property Manager have received, and will continue to receive, fees for services related to the acquisition and operational stages. The Advisor will also be eligible to receive fees during the liquidation stage. SC Distributors, LLC, an affiliate of the Advisor, or the Dealer Manager, serves as the dealer manager of the Offering. The Dealer Manager has received and will continue to receive fees for services related to the Offering.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The Company was formed to invest primarily in quality income-producing commercial real estate, with a focus on data centers and healthcare properties, preferably with long-term net leases to investment grade and other creditworthy tenants, as well as to make other real estate-related investments that relate to such property types. Real estate-related investments may include equity or debt interests, including securities, in other real estate entities. The Company also may originate or invest in real estate-related debt. The Company expects real estate-related debt originations and investments to be focused on first mortgage loans, but also may include real estate-related bridge loans, mezzanine loans and securitized debt. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">March&#160;31, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company owned </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">26</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> real estate investments, consisting of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">38</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> properties, located in </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">21</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> metropolitan statistical areas, or MSAs, and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">one</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> micropolitan statistical area, or &#181;SA.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Except as the context otherwise requires, &#8220;we,&#8221; &#8220;our,&#8221; &#8220;us,&#8221; and the &#8220;Company&#8221; refer to Carter Validus Mission Critical REIT&#160;II, Inc., the Operating Partnership and all wholly-owned subsidiaries.</font></div></div>
CY2016Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company&#8217;s </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">condensed consolidated</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> financial position or results of operations.</font></div></div>
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The preparation of the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">condensed consolidated</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> financial statements and accompanying notes in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.</font></div></div>

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