2017 Q1 Form 10-K Financial Statement

#000156459017004724 Filed on March 17, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 2015 Q4
Revenue $32.45M
YoY Change 35.34%
Cost Of Revenue $10.14M
YoY Change 19.01%
Gross Profit $22.32M
YoY Change 44.37%
Gross Profit Margin 68.78%
Selling, General & Admin $5.070M
YoY Change 8.57%
% of Gross Profit 22.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.504M $10.26M
YoY Change -5.87% 31.74%
% of Gross Profit 45.95%
Operating Expenses $25.46M
YoY Change 21.38%
Operating Profit $5.609M $22.32M
YoY Change -6.26% 45.55%
Interest Expense $3.316M $13.53M
YoY Change -2.14% 25.58%
% of Operating Profit 59.12% 60.63%
Other Income/Expense, Net -$2.793M -$12.57M
YoY Change -14.33% 30.45%
Pretax Income -$5.360M
YoY Change -16.9%
Income Tax $27.42K $213.9K
% Of Pretax Income
Net Earnings -$1.014M -$5.812M
YoY Change -8.18% 52.21%
Net Earnings / Revenue -17.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$508.8K
COMMON SHARES
Basic Shares Outstanding 17.50M 17.08M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.100M
YoY Change -53.03%
Cash & Equivalents $7.261M $3.100M $6.626M
Short-Term Investments
Other Short-Term Assets $600.0K
YoY Change -25.0%
Inventory
Prepaid Expenses
Receivables $600.0K
Other Receivables $0.00
Total Short-Term Assets $4.300M
YoY Change -46.91%
LONG-TERM ASSETS
Property, Plant & Equipment $234.7M
YoY Change 5.2%
Goodwill $2.423M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.200M
YoY Change -47.9%
Total Long-Term Assets $253.7M
YoY Change 1.56%
TOTAL ASSETS
Total Short-Term Assets $4.300M
Total Long-Term Assets $253.7M
Total Assets $258.0M $254.3M
YoY Change 0.04% 15.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.100M
YoY Change -18.67%
Accrued Expenses $2.300M
YoY Change -4.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.600M
YoY Change -12.73%
LONG-TERM LIABILITIES
Long-Term Debt $158.9M
YoY Change 9.81%
Other Long-Term Liabilities $1.700M
YoY Change -22.73%
Total Long-Term Liabilities $160.6M
YoY Change 9.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.600M
Total Long-Term Liabilities $160.6M
Total Liabilities $182.8M $189.1M
YoY Change 7.59% 26.84%
SHAREHOLDERS EQUITY
Retained Earnings -$93.82M
YoY Change 12.83%
Common Stock $146.7M
YoY Change 2.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $75.20M $53.06M
YoY Change
Total Liabilities & Shareholders Equity $258.0M $254.3M
YoY Change 0.04% 15.25%

Cashflow Statement

Concept 2017 Q1 2016 2015 Q4
OPERATING ACTIVITIES
Net Income -$1.014M -$5.812M
YoY Change -8.18% 52.21%
Depreciation, Depletion And Amortization $2.504M $10.26M
YoY Change -5.87% 31.74%
Cash From Operating Activities $1.207M $3.722M
YoY Change 8.81% -1.24%
INVESTING ACTIVITIES
Capital Expenditures -$4.150M
YoY Change 45.61%
Acquisitions
YoY Change
Other Investing Activities -$12.34M
YoY Change -63.06%
Cash From Investing Activities $4.237M -$16.49M
YoY Change -164.99% -54.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.76K $55.03K
YoY Change 136.22% -56.48%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.809M 9.260M
YoY Change -215.75% -72.35%
NET CHANGE
Cash From Operating Activities 1.207M 3.722M
Cash From Investing Activities 4.237M -16.49M
Cash From Financing Activities -4.809M 9.260M
Net Change In Cash 634.8K -5.998M
YoY Change -150.59% -705.64%
FREE CASH FLOW
Cash From Operating Activities $1.207M $3.722M
Capital Expenditures -$4.150M
Free Cash Flow $7.872M
YoY Change 18.93%

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<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates<font style="font-weight:normal;font-style:normal;">. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include the allocation of purchase price paid for property acquisitions between land, building and intangible assets acquired including their useful lives; valuation of long-lived assets, and the allowance for doubtful accounts, which is based on an evaluation of the tenants&#8217; ability to pay. Actual results may differ from those estimates.</font></p></div>
CY2016 us-gaap Revenue Recognition Leases Operating
RevenueRecognitionLeasesOperating
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Revenue Recognition.<font style="font-weight:normal;font-style:normal;"> The Company recognizes revenue from rent, tenant reimbursements, and other revenue once all of the following criteria are met:</font></p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-size:10pt;">a.</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Persuasive evidence of an arrangement exists;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-size:10pt;">b.</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Delivery has occurred or services have been rendered;</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-size:10pt;">c.</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The amount is fixed or determinable; and</p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td> <td valign="top" style="width:3.4%;white-space:nowrap"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-size:10pt;">d.</p></td> <td valign="top"> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The collectability of the amount is reasonably assured.</p></td></tr></table></div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Rental revenue is recognized on a straight-line basis over the term of the related lease. Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other operating expenses are recognized as revenues in the period the applicable expenses are incurred or as specified in the leases. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenue on a straight-line basis over the term of the related leases.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain of the Company&#8217;s leases currently contain rental increases at specified intervals. The Company records as an asset, and include in revenues, deferred rent receivable that will be received if the tenant makes all rent payments required through the expiration of the initial term of the lease. Deferred rent receivable in the accompanying balance sheets includes the cumulative difference between rental revenue recorded on a straight-line basis and rents received from the tenants in accordance with the lease terms. Accordingly, Management determines to what extent the deferred rent receivable applicable to each specific tenant is collectible. The Company reviews material deferred rent receivable and takes into consideration the tenant&#8217;s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of deferred rent with respect to any given tenant is in doubt, we record an increase in the allowance for uncollectible accounts, the Company records a direct write-off of the specific rent receivable. No such reserves related to deferred rent receivables have been recorded as of December 31, 2016 and 2015.</p></div>
CY2016 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications.<font style="font-weight:normal;font-style:normal;"> &#160; Certain reclassifications have been made to the prior year&#8217;s consolidated financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of consolidated operations or equity.</font></p></div>
CY2016 netr Number Of Limited Partnerships In Which Company Is Sole General Partner
NumberOfLimitedPartnershipsInWhichCompanyIsSoleGeneralPartner
2
CY2016 netr Number Of Partnerships That Purchase And Leaseback Model Homes From Developers In Which Company Is Limited Partner
NumberOfPartnershipsThatPurchaseAndLeasebackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
4
CY2016 netr Number Of Limited Liability That Purchase And Leaseback Model Homes From Developers In Which Company Is Limited Partner
NumberOfLimitedLiabilityThatPurchaseAndLeasebackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
1
CY2016 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2016 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-286000
CY2015 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
44000
CY2016 netr Amortization Of Value Of In Place Leases
AmortizationOfValueOfInPlaceLeases
P10Y
CY2016 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1224000
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
839000
CY2015 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2016 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
754000
CY2015 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
556000
CY2016 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2015 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
10256185
CY2015 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
7784917
CY2016Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
650000
CY2016Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2016 netr Loss On Federal Deposit Insurance Corporation
LossOnFederalDepositInsuranceCorporation
0
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
26000
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
91000
CY2016Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
1920000
CY2015Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
1483000
CY2016 us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
494000
CY2015 us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
412000
CY2016Q4 netr Unamortized Deferred Stock Costs
UnamortizedDeferredStockCosts
1942000
CY2015Q4 netr Unamortized Deferred Stock Costs
UnamortizedDeferredStockCosts
2052000
CY2016 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
We have elected to be taxed as a REIT under Sections 856 through 860 of the Code, for federal income tax purposes. To maintain our qualification as a REIT, we are required to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership
CY2016 netr Percentage Of Distributed Taxable Income To Qualify As Reit
PercentageOfDistributedTaxableIncomeToQualifyAsReit
0.90
CY2016Q4 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
0
CY2015Q4 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
0
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
643510
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
722019
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7944757
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5866534
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5829342
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8015758
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
1652832
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
1380667
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
1127224
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
895185
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
585710
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
12081874
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
112624246
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
160828604
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2052169
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3771756
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
224916
CY2016Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
455632
CY2015Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
536533
CY2016Q4 netr Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
160828604
CY2015Q4 netr Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
144690570
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1942493
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7366855
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
19917067
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5066806
CY2016Q4 netr Scheduled Payments Due In Year Two
ScheduledPaymentsDueInYearTwo
32700000
CY2016 us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2017-08-01
CY2016 netr Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
4517000
CY2015 netr Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
4124000
CY2016 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.40
CY2012Q1 netr Registered Shares Of Common Stock Pursuant To Dividend Reinvestment Plan
RegisteredSharesOfCommonStockPursuantToDividendReinvestmentPlan
3000000
CY2012Q1 netr Percentage Of Purchase Price Per Share
PercentageOfPurchasePricePerShare
0.95
CY2012Q1 netr Sales Price Per Share Of Stock
SalesPricePerShareOfStock
10.00
CY2012Q1 netr Payment Of Sales Commission Or Dealer Manager Fee
PaymentOfSalesCommissionOrDealerManagerFee
0
CY2016 netr Notice Period For Amendments To Dividend Reinvestment Plan
NoticePeriodForAmendmentsToDividendReinvestmentPlan
P30D
CY2016 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
16325429
CY2016 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1718466
CY2016 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
1280000
CY2015 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
1036000
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
520000
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
465000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
15332319
CY2016 netr General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
5424479
CY2015 netr General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
5193888
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10256185
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7784917
CY2016 us-gaap Interest Expense
InterestExpense
13531337
CY2015 us-gaap Interest Expense
InterestExpense
10774660
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
246969993
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
239948063
CY2015 netr Acquisition Of Retail Properties
AcquisitionOfRetailProperties
2908176
CY2016 netr Real Estate Acquisitions
RealEstateAcquisitions
27817748
CY2015 netr Real Estate Acquisitions
RealEstateAcquisitions
70707531
CY2016 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
160829000
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
51202000
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
212326000
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
263528000
CY2016Q4 us-gaap Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovements
14982000
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
51274000
CY2016Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
227307000
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
278581000
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
36311485
CY2016Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
1748000
CY2016 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
23667535
CY2016Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
240522000
CY2014Q4 netr Real Estate Investment Property And Lease Intangibles At Cost
RealEstateInvestmentPropertyAndLeaseIntangiblesAtCost
224730052
CY2015 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
68482972
CY2016 us-gaap Real Estate Improvements
RealEstateImprovements
4150213
CY2015 us-gaap Real Estate Improvements
RealEstateImprovements
2854939
CY2016 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
11083652
CY2015 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
35020312
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
29961472
CY2014Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
26540852
CY2016 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
3906172
CY2015 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
4364297

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