2019 Q3 Form 10-Q Financial Statement

#000156792519000091 Filed on November 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $48.06M $45.52M
YoY Change 5.59% 25.72%
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 $45.77M $28.86M
YoY Change 58.59% 20.36%
Operating Profit $2.290M $16.65M
YoY Change -86.25% 36.23%
Interest Expense -$11.92M -$8.937M
YoY Change 33.38% 31.7%
% of Operating Profit -520.52% -53.66%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$9.630M $7.717M
YoY Change -224.79% 41.88%
Net Earnings / Revenue -20.04% 16.95%
Basic Earnings Per Share -$0.07 $0.06
Diluted Earnings Per Share -$0.07 $0.06
COMMON SHARES
Basic Shares Outstanding 137.1M shares 132.5M shares
Diluted Shares Outstanding 137.1M shares 132.5M shares

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $67.97M $84.79M
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 $1.989B $1.919B
YoY Change 3.68% 20.97%
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 $1.010B $871.5M
YoY Change 15.9% 25.74%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.374M $1.342M
YoY Change 2.38% 19.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $979.3M $1.047B
YoY Change
Total Liabilities & Shareholders Equity $1.989B $1.919B
YoY Change 3.68% 20.97%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$9.630M $7.717M
YoY Change -224.79% 41.88%
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

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DerivativeFairValueOfDerivativeLiability
0 USD
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
7516000 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0 USD
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
7506000 USD
us-gaap Derivative Inception Dates
DerivativeInceptionDates
2019-04-01
CY2018Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
304000 USD
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
328000 USD
CY2019Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
422000 USD
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
1784000 USD
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0 USD
CY2019Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
7516000 USD
CY2018Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 USD
CY2019Q3 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 USD
CY2019Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
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7845000 USD
CY2018Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
9447000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
27439000 USD
CY2019Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
10740000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
30010000 USD
CY2018Q1 us-gaap Dividends Common Stock
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19447000 USD
CY2018Q2 us-gaap Dividends Common Stock
DividendsCommonStock
20201000 USD
CY2018Q3 us-gaap Dividends Common Stock
DividendsCommonStock
20814000 USD
CY2019Q1 us-gaap Dividends Common Stock
DividendsCommonStock
21196000 USD
CY2019Q2 us-gaap Dividends Common Stock
DividendsCommonStock
21420000 USD
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
21798000 USD
CY2018Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
7317000 USD
CY2019Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
7127000 USD
CY2018Q4 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
12427000 USD
CY2019Q3 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
9592000 USD
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
42081000 USD
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
56004000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
154204000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
142643000 USD
us-gaap Gain Loss On Interest Rate Cash Flow Hedge Ineffectiveness
GainLossOnInterestRateCashFlowHedgeIneffectiveness
-28000 USD
us-gaap Gain Loss On Interest Rate Cash Flow Hedge Ineffectiveness
GainLossOnInterestRateCashFlowHedgeIneffectiveness
0 USD
CY2018Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1244000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3526000 USD
CY2019Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2239000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5177000 USD
CY2018Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2018Q3 us-gaap Impairment Of Real Estate
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0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2019Q3 us-gaap Impairment Of Real Estate
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13000000 USD
us-gaap Impairment Of Real Estate
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13000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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6349000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-316000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
133000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-150000 USD
us-gaap Increase Decrease In Other Operating Assets
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3450000 USD
us-gaap Increase Decrease In Other Operating Assets
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1526000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1171000 USD
us-gaap Interest Costs Capitalized
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69000 USD
CY2018Q3 us-gaap Interest Income Expense Nonoperating Net
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-8938000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-24885000 USD
CY2019Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-11920000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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us-gaap Interest Paid Net
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23583000 USD
us-gaap Interest Paid Net
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30248000 USD
CY2018Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3219000 USD
CY2019Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3224000 USD
CY2019Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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-1320000 USD
CY2018Q4 us-gaap Land
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246790000 USD
CY2019Q3 us-gaap Land
Land
247351000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
84260000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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81982000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
536000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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536000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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536000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
536000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
134000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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73775000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
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1706533000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
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151853000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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154253000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
37450000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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1059102000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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153242000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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150633000 USD
CY2018Q4 us-gaap Liabilities
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916444000 USD
CY2019Q3 us-gaap Liabilities
Liabilities
1010103000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1963829000 USD
CY2019Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1989369000 USD
CY2018Q4 us-gaap Line Of Credit
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352511000 USD
CY2019Q3 us-gaap Line Of Credit
LineOfCredit
436912000 USD
CY2019Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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780000000 USD
CY2019Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
700000000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
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CY2019Q3 us-gaap Long Term Debt
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900682000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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138476000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
282710000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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324876000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
155186000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4547000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
711000 USD
CY2019Q3 us-gaap Loss Contingency Pending Claims Number
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0 case
CY2018Q4 us-gaap Minority Interest
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2000 USD
CY2019Q3 us-gaap Minority Interest
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1000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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1000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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109753000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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23806000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155331000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-77824000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
57320000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
52540000 USD
CY2018Q3 us-gaap Net Income Loss
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7717000 USD
us-gaap Net Income Loss
NetIncomeLoss
22407000 USD
CY2019Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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995000 USD
CY2018Q4 us-gaap Notes Payable
NotesPayable
464345000 USD
CY2019Q3 us-gaap Notes Payable
NotesPayable
463770000 USD
CY2019Q3 us-gaap Number Of Properties Subject To Ground Leases
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10 lease
CY2019Q3 us-gaap Number Of Real Estate Properties
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90 property
us-gaap Payments Of Financing Costs
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1385000 USD
CY2018 us-gaap Number Of Reportable Segments
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2 segment
us-gaap Number Of Reportable Segments
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2 segment
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
28863000 USD
us-gaap Operating Expenses
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83468000 USD
CY2019Q3 us-gaap Operating Expenses
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45773000 USD
us-gaap Operating Expenses
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108824000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
16655000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
47292000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2290000 USD
us-gaap Operating Income Loss
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32643000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
10485000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13665000 USD
CY2018Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P27Y2M
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P69Y10M24D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2861000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
123000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
123000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
123000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
123000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
123000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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2246000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
7365000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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4575000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1818000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2018Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
1276000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
7693000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-1701000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-11502000 USD
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
0 USD
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
1016000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13351000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
6978000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
600000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
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0 USD
us-gaap Payments For Repurchase Of Common Stock
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32746000 USD
us-gaap Payments For Repurchase Of Common Stock
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22374000 USD
us-gaap Payments Of Dividends Common Stock
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29673000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
33329000 USD
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
10054000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2825000 USD
us-gaap Payments To Acquire Real Estate
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141380000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
69830000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
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CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
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CY2018Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
67533000 USD
CY2019Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
73631000 USD
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
8344000 USD
CY2019Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
12000000 USD
us-gaap Proceeds From Issuance Of Common Stock
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97286000 USD
us-gaap Proceeds From Issuance Of Common Stock
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0 USD
us-gaap Proceeds From Long Term Lines Of Credit
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90000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
85000000 USD
CY2018Q1 us-gaap Profit Loss
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7504000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
7186000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
7717000 USD
us-gaap Profit Loss
ProfitLoss
22407000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
4361000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
6264000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
995000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
84594000 USD
CY2019Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
112138000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
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1673732000 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1691461000 USD
CY2018Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
5128000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
18563000 USD
CY2019Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
6848000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
18920000 USD
us-gaap Repayments Of Notes Payable
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260000 USD
us-gaap Repayments Of Notes Payable
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1280000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
10944000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12700000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11167000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
10080000 USD
CY2018Q3 us-gaap Revenues
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45518000 USD
us-gaap Revenues
Revenues
130760000 USD
CY2019Q3 us-gaap Revenues
Revenues
48063000 USD
us-gaap Revenues
Revenues
141467000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
67000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
64000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
9920000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
10279000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
10320000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
30519000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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10385000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
10481000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
10409000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
31275000 USD
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
34096000 USD
CY2018Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
33848000 USD
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
29342000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
22000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
22000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
23000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
23000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
23000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
18000 USD
CY2018Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
8420000 USD
CY2018Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
14560000 USD
CY2018Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
9766000 USD
CY2019Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
10733000 USD
CY2019Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
10780000 USD
CY2019Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
861000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1047383000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
979265000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
990551000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1015706000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1030979000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1047189000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1047385000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1026661000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1003435000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
979266000 USD
us-gaap Straight Line Rent
StraightLineRent
10009000 USD
us-gaap Straight Line Rent
StraightLineRent
8440000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
23000 shares
CY2018Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2309000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
23000 shares
CY2019Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
3248000 USD
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
25000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136484303 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
132467127 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
129614816 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
132491755 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129637967 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137063509 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
136461135 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137063509 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, 2019</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. 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 not experienced a loss or lack of access to cash in its accounts. </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, 2019</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;">one</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> micropolitan statistical area and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">45</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> metropolitan statistical areas, or MSAs, </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;"> of which accounted for 10.0% or more of revenue. Real estate investments located in the</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> Atlanta-Sandy Springs-Roswell, Georgia MSA </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">accounted for </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">16.9%</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> of revenue for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">nine 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;">September&#160;30, 2019</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;">September&#160;30, 2019</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;">no</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> exposure to tenant concentration that accounted for 10.0% or more of revenue for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">nine 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;">September&#160;30, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">.</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. The Company elected, and currently qualifies, to be taxed as a real estate investment trust, or a REIT, under the Internal Revenue Code of 1986, as amended, or the Code, for federal income tax purposes. 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 special 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 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 leases to creditworthy tenants, as well as to make other real estate-related investments in such property types, which may include equity or debt interests, including securities, in other real estate entities. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">September&#160;30, 2019</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;">64</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;">90</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> properties. </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 commenced the initial public offering 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, or the Initial Offering, 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 May 29, 2014 pursuant to a Registration Statement on Form S-11 filed with the SEC. The Company ceased offering shares of common stock pursuant to the Initial Offering on November 24, 2017. At the completion of the Initial Offering, the Company had accepted investors' subscriptions for and issued approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">125,095,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> shares of Class A, Class I and Class T common stock, including shares of common stock issued pursuant to the DRIP, resulting in gross proceeds of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$1,223,803,000</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;">On October 13, 2017, the Company filed a Registration Statement on Form S-3 to register </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">10,893,246</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> shares of common stock under the DRIP for a proposed maximum offering price of </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, or the DRIP Offering. The Company will continue to issue shares of common stock under the DRIP Offering until such time as the Company sells all of the shares registered for sale under the DRIP Offering, unless the Company files a new registration statement with the U.S. Securities and Exchange Commission, or the SEC, or the DRIP Offering is terminated by the Company's board of directors. </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;">On November 27, 2017, the Company commenced its follow-on offering of up to </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$1,000,000,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> in shares of common stock, or the Offering, and collectively with the Initial Offering and the DRIP Offering, or the Offerings. On March 14, 2018, the Company ceased offering shares of Class T common stock in the Offering and began offering shares of Class T2 common stock on March 15, 2018. The Company continues to offer shares of Class T common stock in the DRIP Offering. The Company ceased offering shares of common stock pursuant to the Offering on November 27, 2018. At the completion of the Offering, the Company had accepted investors' subscriptions for and issued approximately </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">13,491,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> shares of Class A, Class I, Class T and Class T2 common stock resulting in gross proceeds of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$129,308,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">. The Company deregistered the remaining </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">$870,692,000</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> of shares of Class A, Class I, Class T and Class T2 common stock under 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;">On April&#160;11, 2019, the Company, along with Carter Validus Mission Critical REIT, Inc., or REIT I, the Operating Partnership, Carter/Validus Operating Partnership, LP, the operating partnership of REIT I, or REIT I Operating Partnership, and Lightning Merger Sub, LLC, a wholly-owned subsidiary of the Company, or Merger Sub, entered into an Agreement and Plan of Merger, or the Merger Agreement.</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;">Pursuant to the terms and conditions of the Merger Agreement, on </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">October 4, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">, REIT I merged with and into Merger Sub, or the REIT Merger, with Merger Sub surviving the REIT Merger, or the Surviving Entity, such that following the REIT Merger, the Surviving Entity continues as a wholly-owned subsidiary of the Company. In accordance with the applicable provisions of the Maryland General Corporation Law, the separate existence of REIT I ceased. The combined company after the REIT Merger, or the Combined Company, retained the name &#8220;Carter Validus Mission Critical REIT II, Inc.&#8221; See </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Note 16&#8212;"Subsequent Events"</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> for further discussion. See&#160;</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Note 16&#8212;"Subsequent Events"</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> for further discussion.</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, the &#8220;Company&#8221; refers to Carter Validus Mission Critical REIT II, Inc., the Operating Partnership and all wholly-owned subsidiaries through the quarter ended September 30, 2019, and does not take into account the REIT Merger or the Contributions (as defined in </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;vertical-align:bottom;">Note 10&#8212;"Related-Party Transactions and Arrangements"</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">). See&#160;</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Note 16&#8212;"Subsequent Events"</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> for further discussion.</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, primarily related to the recently adopted accounting pronouncements discussed within this note. Amounts previously disclosed as rental and parking revenue and tenant reimbursements during the&#160;</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">three and nine months</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">&#160;ended </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">September&#160;30, 2019</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;"> and 2018,&#160;are now included in rental revenue and will no longer be presented separately on the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">condensed consolidated statements of comprehensive (loss) income</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">.</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 condensed consolidated 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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