As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 3/31/2019 USD 2019 Q1 YTD 3/31/2019 USD
Source Document Currency Code 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2018 USD 2018 Y 3/31/2019 USD 2019 Q1 YTD 3/31/2019 USD

Assets

Real estate assets

Land 170,021 196,178 191,578 191,578 191,578
Buildings and improvements 1,637,066 1,822,183 1,811,631 1,857,935 1,872,082
Fixtures and equipment 2,528 4,136 5,614 8,839 9,153
Total 1,809,615 2,022,497 2,008,823 2,058,352 2,072,813
Less accumulated depreciation 299,991 337,228 376,131 432,579 447,980
Real estate assets, net 1,509,624 1,685,269 1,632,692 1,625,773 1,624,833
Acquired real estate leases, less accumulated amortization 108,046 125,491 86,520 59,595 53,948
Investment in non-consolidated REITs 77,019 75,165 70,164 NA NA
Asset held for sale 0 3,871 0 NA NA
Cash and cash equivalents 18,163 9,335 NA NA NA
Restricted cash 23 31 NA NA NA
Cash, cash equivalents and restricted cash NA NA 9,819 11,177 8,832
Tenant rent receivables 2,898 3,113 3,123 3,938 4,489
Straight-line rent receivable 48,502 50,930 53,194 54,006 55,836
Prepaid expenses and other assets 5,484 5,231 8,387 10,400 10,469
Related party mortgage loan receivables 118,641 81,780 71,720 70,660 72,795
Other assets - derivative asset 1,132 12,907 13,925 14,765 10,469
Office computers and furniture, net of accumulated depreciation 484 313 289 197 166
Deferred leasing commissions, net of accumulated amortization 28,999 34,697 40,679 47,591 49,408
Total assets 1,919,015 2,088,133 1,990,512 1,898,102 1,891,245

Liabilities and Stockholders' Equity

Liabilities

Bank note payable 290,000 280,000 78,000 25,000 40,000
Term loans payable, less unamortized financing costs 617,647 765,217 764,901 764,278 764,642
Series A & Series B Senior Notes, less unamortized financing costs NA 0 198,692 198,850 198,892
Accounts payable and accrued expenses 49,489 57,259 61,039 59,183 52,248
Accrued compensation 3,726 3,784 3,641 3,043 1,073
Tenant security deposits 4,829 5,355 5,383 6,319 6,352
Lease liability NA NA NA 0 2,141
Other liabilities - derivative liabilities 8,243 5,551 1,759 0 2,496
Acquired unfavorable real estate leases, less accumulated amortization 9,425 8,923 5,805 3,795 3,414
Total liabilities 983,359 1,126,089 1,119,220 1,060,468 1,071,258

Stockholders' Equity

Preferred stock 0 0 0 0 0
Common stock 10 11 11 11 11
Additional paid-in capital 1,273,556 1,356,457 1,356,457 1,356,457 1,356,457
Accumulated other comprehensive income (7,111) 5,478 12,166 14,765 7,973
Accumulated distributions in excess of accumulated earnings (330,799) (399,902) (497,342) (533,599) (544,454)
Total stockholders' equity 935,656 962,044 871,292 837,634 819,987
Total liabilities and stockholders' equity 1,919,015 2,088,133 1,990,512 1,898,102 1,891,245
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.