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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Rental revenues $ 21,303 $ 16,713 $ 59,401 $ 47,225
General contracting and real estate services revenues 53,822 31,532 129,959 71,261
Total revenues 75,125 48,245 189,360 118,486
Expenses        
Rental expenses 4,865 4,414 14,256 12,230
Real estate taxes 2,056 1,480 5,672 4,231
General contracting and real estate services expenses 51,716 30,468 125,141 67,807
Depreciation and amortization 6,317 4,567 16,991 12,593
General and administrative expenses 1,873 1,741 6,297 5,768
Acquisition, development and other pursuit costs 288 174 1,050 174
Impairment charges   15 23 15
Total expenses 67,115 42,859 169,430 102,818
Operating income 8,010 5,386 19,930 15,668
Interest expense (3,518) (2,734) (9,922) (7,977)
Loss on extinguishment of debt (3)   (410)  
Gain on real estate dispositions     13,407  
Other income (loss) (34) 59 (182) (23)
Income before taxes 4,455 2,711 22,823 7,668
Income tax benefit (provision) (118) 43 (83) (135)
Net income 4,337 2,754 22,740 7,533
Net income attributable to noncontrolling interests (1,649) (1,139) (8,426) (3,128)
Net income attributable to stockholders $ 2,688 $ 1,615 $ 14,314 $ 4,405
Net income per share and unit:        
Basic and diluted $ 0.10 $ 0.08 $ 0.56 $ 0.23
Weighted average outstanding:        
Common shares 25,958 20,266 25,532 19,574
Operating partnership units 15,919 14,291 15,159 13,905
Basic and diluted 41,877 34,557 40,691 33,479
Dividends declared per common share and unit $ 0.17 $ 0.16 $ 0.51 $ 0.48
Comprehensive income:        
Net income $ 4,337 $ 2,754 $ 22,740 $ 7,533
Unrealized cash flow hedge losses (1,026)   (1,574)  
Realized cash flow hedge losses reclassified to net income 13   13  
Comprehensive income 3,324 2,754 21,179 7,533
Comprehensive income attributable to noncontrolling interests (1,264) (1,139) (7,837) (3,128)
Comprehensive income attributable to stockholders $ 2,060 $ 1,615 $ 13,342 $ 4,405