$SILA
Sila Realty Trust, Inc.

2016 Q3 Form 10-Q Financial Statement

#000156792516000045 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $13.59M $6.884M
YoY Change 97.47% 10490.77%
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 $10.46M $8.103M
YoY Change 29.09% 1543.61%
Operating Profit $3.134M -$1.219M
YoY Change -357.1% 184.81%
Interest Expense -$626.0K $542.0K
YoY Change -215.5% 903.7%
% of Operating Profit -19.97%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $2.508M -$1.761M
YoY Change -242.42% 265.35%
Net Earnings / Revenue 18.45% -25.58%
Basic Earnings Per Share $0.03 -$0.05
Diluted Earnings Per Share $0.03 -$0.05
COMMON SHARES
Basic Shares Outstanding 71.85M shares 34.79M shares
Diluted Shares Outstanding 71.87M shares 34.79M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $49.09M $50.36M
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 $770.9M $403.2M
YoY Change 91.2%
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 $160.5M $78.30M
YoY Change 104.93%
SHAREHOLDERS EQUITY
Retained Earnings -$18.19M
YoY Change
Common Stock $753.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $610.4M $324.9M
YoY Change
Total Liabilities & Shareholders Equity $770.9M $403.2M
YoY Change 91.2%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $2.508M -$1.761M
YoY Change -242.42% 265.35%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
cik0001567925 Additions To Real Estate Held For Investment And Capital Improvements
AdditionsToRealEstateHeldForInvestmentAndCapitalImprovements
257778000 USD
cik0001567925 Additions To Real Estate Held For Investment And Capital Improvements
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244109000 USD
cik0001567925 Adjustmentsto Additional Paid In Capital Commissionson Saleof Common Stockand Related Dealer Manager Fees
AdjustmentstoAdditionalPaidInCapitalCommissionsonSaleofCommonStockandRelatedDealerManagerFees
19938000 USD
cik0001567925 Adjustmentsto Additional Paidin Capital Distributionand Servicing Fees
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4462000 USD
CY2015 cik0001567925 Below Market Lease Weighted Average Remaining Life
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P14Y6M
cik0001567925 Below Market Lease Weighted Average Remaining Life
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P13Y9M18D
CY2015Q3 cik0001567925 Business Acquisition Pro Forma Net Income Loss Attributable To Parent
BusinessAcquisitionProFormaNetIncomeLossAttributableToParent
4929000 USD
cik0001567925 Business Acquisition Pro Forma Net Income Loss Attributable To Parent
BusinessAcquisitionProFormaNetIncomeLossAttributableToParent
1792000 USD
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14664000 USD
CY2016Q3 cik0001567925 Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Tenant Improvements
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1431000 USD
CY2015Q3 cik0001567925 Capitalized Acquisition Costs And Fees Additions
CapitalizedAcquisitionCostsAndFeesAdditions
0 USD
cik0001567925 Capitalized Acquisition Costs And Fees Additions
CapitalizedAcquisitionCostsAndFeesAdditions
234000 USD
CY2016Q3 cik0001567925 Capitalized Acquisition Costs And Fees Additions
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cik0001567925 Capitalized Acquisition Costs And Fees Additions
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cik0001567925 Cumulative Non Compounded Annual Return
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cik0001567925 Distributionand Servicing Fees Incurred But Not Yet Paid
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0 USD
cik0001567925 Distributionand Servicing Fees Incurred But Not Yet Paid
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4226000 USD
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361632000 USD
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cik0001567925 Line Of Credit Facility Increase In Borrowing Capacity Properties Added
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cik0001567925 Line Of Credit Facility Increase In Current Borrowing Capacity
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CY2016Q3 cik0001567925 Longterm Lineof Credit Gross
LongtermLineofCreditGross
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CY2016Q3 cik0001567925 Number Of Metropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMetropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
24 metropolitan
CY2016Q3 cik0001567925 Number Of Real Estate Investments
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CY2016Q3 cik0001567925 Numberof Micropolitan Statistical Areas In Which Company Owns Rental Property
NumberofMicropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
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cik0001567925 Period Of Notice Required For Changes To Share Repurchase Program
PeriodOfNoticeRequiredForChangesToShareRepurchaseProgram
P30D
cik0001567925 Period Required To Issue Class B Units
PeriodRequiredToIssueClassBUnits
P30D
cik0001567925 Share Repurchase Program Percentageof Outstanding Common Stock Maximum
ShareRepurchaseProgramPercentageofOutstandingCommonStockMaximum
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
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2016-09-30
dei Document Type
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10-Q
dei Entity Central Index Key
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0001567925
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Registrant Name
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Carter Validus Mission Critical REIT II, Inc.
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836000 USD
us-gaap General And Administrative Expense
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2358000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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3380000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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1042000 USD
us-gaap Increase Decrease In Due To Affiliates
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266000 USD
us-gaap Increase Decrease In Due To Affiliates
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230000 USD
us-gaap Increase Decrease In Other Operating Assets
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1800000 USD
us-gaap Increase Decrease In Other Operating Assets
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610000 USD
us-gaap Increase Decrease In Restricted Cash
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-478000 USD
us-gaap Interest Costs Capitalized
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293000 USD
CY2015Q3 us-gaap Interest Income Expense Nonoperating Net
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-542000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1203000 USD
CY2016Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-626000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-2237000 USD
us-gaap Interest Paid Net
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600000 USD
us-gaap Interest Paid Net
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1887000 USD
CY2015Q4 us-gaap Interest Payable Current And Noncurrent
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221000 USD
CY2016Q3 us-gaap Interest Payable Current And Noncurrent
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290000 USD
CY2016Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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-56000 USD
CY2015Q4 us-gaap Land
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48882000 USD
CY2016Q3 us-gaap Land
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89857000 USD
CY2015Q4 us-gaap Liabilities
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106291000 USD
CY2016Q3 us-gaap Liabilities
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160452000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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506627000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
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CY2015Q4 us-gaap Line Of Credit
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CY2016Q3 us-gaap Line Of Credit
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CY2016Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
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252479000 USD
CY2016Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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117479000 USD
CY2015Q4 us-gaap Long Term Debt
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89897000 USD
CY2016Q3 us-gaap Long Term Debt
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134706000 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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0 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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50000000 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
85000000 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 USD
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2016Q3 us-gaap Loss Contingency Pending Claims Number
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0 case
CY2015Q4 us-gaap Minority Interest
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2000 USD
CY2016Q3 us-gaap Minority Interest
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2000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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303342000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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254177000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-257581000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-251886000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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900000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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15537000 USD
CY2015Q3 us-gaap Net Income Loss
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-1761000 USD
us-gaap Net Income Loss
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-3925000 USD
CY2016Q3 us-gaap Net Income Loss
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2508000 USD
us-gaap Net Income Loss
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5951000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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0 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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1236000 USD
us-gaap Number Of Businesses Acquired
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15 real_estate_investment
CY2016Q3 us-gaap Number Of Real Estate Properties
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43 property
us-gaap Number Of Reportable Segments
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2 segment
CY2015Q3 us-gaap Operating Expenses
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8103000 USD
us-gaap Operating Expenses
OperatingExpenses
14983000 USD
CY2016Q3 us-gaap Operating Expenses
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10460000 USD
us-gaap Operating Expenses
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29033000 USD
CY2015Q3 us-gaap Operating Income Loss
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-1219000 USD
us-gaap Operating Income Loss
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-2722000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3134000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable
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CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
49153000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
50013000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
49396000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
48533000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
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12009000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
494425000 USD
CY2015Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
6230000 USD
us-gaap Operating Leases Income Statement Lease Revenue
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11419000 USD
CY2016Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
12183000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
33092000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
0 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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88000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-13000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
88000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-13000 USD
us-gaap Payments For Capital Improvements
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640000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
4380000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
281000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
5287000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
155000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2043000 USD
us-gaap Payments Of Dividends Common Stock
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3759000 USD
us-gaap Payments Of Dividends Common Stock
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12285000 USD
us-gaap Payments Of Financing Costs
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581000 USD
us-gaap Payments Of Financing Costs
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767000 USD
us-gaap Payments Of Stock Issuance Costs
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36618000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
23979000 USD
us-gaap Payments To Acquire Real Estate
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257138000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
239729000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
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0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2016Q3 us-gaap Prepaid Expense Current And Noncurrent
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1129000 USD
us-gaap Proceeds From Issuance Of Common Stock
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311955000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
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10218000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
22815000 USD
CY2015Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
604000 USD
us-gaap Proceeds From Issuance Of Common Stock
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248251000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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72000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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115000000 USD
us-gaap Profit Loss
ProfitLoss
-3925000 USD
us-gaap Profit Loss
ProfitLoss
5951000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
5262000 USD
CY2016Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
14240000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
410514000 USD
CY2016Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
631360000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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39500000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
70000000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1927000 USD
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4417000 USD
CY2015Q3 us-gaap Revenues
Revenues
6884000 USD
us-gaap Revenues
Revenues
12261000 USD
CY2016Q3 us-gaap Revenues
Revenues
13594000 USD
us-gaap Revenues
Revenues
37221000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
41000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
5795000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
16285000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
248251000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
41000 USD
us-gaap Stock Redeemed Or Called During Period Value
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2043000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
400334000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
610432000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
400336000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
610434000 USD
us-gaap Straight Line Rent
StraightLineRent
1549000 USD
us-gaap Straight Line Rent
StraightLineRent
4344000 USD
CY2015Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
505000 USD
CY2016Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
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CY2015Q3 us-gaap Tenant Reimbursements
TenantReimbursements
654000 USD
us-gaap Tenant Reimbursements
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CY2016Q3 us-gaap Tenant Reimbursements
TenantReimbursements
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us-gaap Tenant Reimbursements
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CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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15000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
16000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23573522 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71852230 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63044148 shares
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;">September&#160;30, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company had cash on deposit, including restricted cash, in certain financial institutions that had deposits in excess of current federally insured levels; however, the Company has not experienced any losses in such accounts. The Company limits its cash investments to financial institutions with high credit standings; 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 of 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>
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.</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;">September&#160;30, 2016</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, the Company had issued approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">75,573,000</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;">$746,094,000</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;">$64,577,000</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;">$4,462,000</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;">$14,383,000</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;">September&#160;30, 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;">$1,603,906,000</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 notes receivable. The Company expects real estate-related notes receivable originations and investments to be focused on first mortgage loans, but also may include real estate-related bridge loans, mezzanine loans and securitized notes receivable. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">September&#160;30, 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;">30</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;">43</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;">24</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>
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>
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>

Files In Submission

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cik0001567925-20160930.xml Edgar Link completed
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