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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Rental income from operating leases $ 11,672 $ 9,863 $ 23,567 $ 20,899
Advisory services income - related party 869 872 1,615 1,715
Real estate fee income     100  
Total revenues 12,541 10,735 25,282 22,614
Expenses:        
General and administrative 2,005 2,069 4,113 4,030
Property expense 3,459 2,660 7,188 5,843
Legal and professional 315 258 695 506
Real estate commissions 74 52 129 104
Acquisition costs 224 126 224 126
Depreciation and amortization 3,090 2,732 6,216 6,025
Total expenses 9,167 7,897 18,565 16,634
Operating income 3,374 2,838 6,717 5,980
Other income (expense):        
Gain on sale of real estate acquired for investment          7,696
Interest and other income 59 154 170 267
Interest and other income - related party 12 53 22 109
Income from Advised Funds 181 192 368 44
Income tax expense for taxable REIT subsidiary (12) (17) (24) (15)
Interest expense (2,484) (2,267) (4,951) (4,760)
Income from continuing operations 1,130 953 2,302 9,321
Income from discontinued operations    28    56
Net income $ 1,130 $ 981 $ 2,302 $ 9,377
Net income per share of common stock - basic and diluted        
Income from continuing operations $ 0.05 $ 0.06 $ 0.11 $ 0.59
Net income per share $ 0.05 $ 0.06 $ 0.11 $ 0.59
Weighted average shares of common stock used to compute net income per share, basic and diluted 19,104 [1] 15,609 [1] 19,092 [1] 15,600 [1]
Distributions per share of common stock $ 0.20 $ 0.20 $ 0.40 $ 0.40
[1] Weighted average shares outstanding do not include unvested shares of restricted stock totaling 574 and 563 for the three months ended June 30, 2014, and 2013 and 567 and 552 for the six months ended June 30, 2014 and 2013, respectively.