Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Real estate properties
Land and land improvements	$ 33,476	$ 29,884
Buildings, improvements, and lease intangibles	248,922	222,755
Personal property	102	97
Total real estate properties	282,500	252,736
Less accumulated depreciation	(22,328)	(18,404)
Total real estate properties, net	260,172	234,332
Cash and cash equivalents	2,044	1,568
Mortgage note receivable, net	10,652	10,786
Other assets, net	4,905	4,843
Total assets	277,773	251,529
Liabilities
Debt, net	81,235	51,000
Accounts payable and accrued liabilities	2,964	3,541
Other liabilities	3,566	2,981
Total liabilities	87,765	57,522
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 450,000,000 shares authorized; 13,105,253 and 12,988,482 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	131	130
Additional paid-in capital	214,640	214,323
Cumulative net income	2,178	1,265
Accumulated other comprehensive loss	(152)	0
Cumulative dividends	(26,789)	(21,711)
Total stockholders’ equity	190,008	194,007
Total liabilities and stockholders' equity	$ 277,773	$ 251,529