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Subsequent Events
9 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
Subsequent Events

NOTE 16.  SUBSEQUENT EVENTS



On October 4, 2017, the Company refinanced $14,470 of debt outstanding under two variable rate Western Alliance Bank loans and $10,500 of debt outstanding under the credit facility, in total collateralized by three properties, with a mortgage loan from Wells Fargo Bank, National Association (“Wells Fargo”), in the principal amount of $26,500.  The loan requires monthly principal and interest payments based on a 30-year amortization with the principal balance due and payable on November 1, 2022. Subject to the satisfaction of certain conditions, the loan also has two one-year extension options. The loan bears interest at one-month LIBOR plus 2.39%.  At the time of the origination of the loan, the Company also entered into an interest rate swap with Wells Fargo to effectively fix the interest rate of the loan at 4.44%.  The loan is non-recourse to the Company, except for certain customary carve-outs to the general non-recourse liability, which carve-outs are guaranteed by the Company.



Subsequent to September 30, 2017, the Company has sold 15,763 shares of common stock under the ATM program at an average sales price of $10.46 per share for gross proceeds totaling $165 and net proceeds, including cash commission fees paid to the Sales Agents, totaling $162.