Annual report pursuant to section 13 and 15(d)

Consolidated and Combined Statements of Cash Flows

v2.4.0.8
Consolidated and Combined Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,375,226) $ (1,205,657)
Adjustments to reconcile consolidated and combined net loss to net cash from operating activities    
Depreciation and amortization 3,466,957 822,152
Other noncash adjustments (473,142) 11,561
Provision for credit losses 106,828 25,000
Changes in assets and liabilities    
Tenant receivables and accrued revenue, net (799,717) (246,445)
Unbilled rent 33,822 32,922
Deferred costs and other assets (3,188,002) 88,211
Accounts payable, accrued expenses and other liabilities 2,776,910 182,372
Net cash from operating activities (2,451,570) (289,884)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment property acquisitions (21,875,065) (8,754,718)
Capital expenditures (707,089) (47,337)
Net cash from investing activities (22,582,154) (8,802,055)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Dividends and distributions paid (2,886,574) (126,084)
Proceeds from sales of preferred stock 3,943,936 494,000
Conversion of preferred stock (7,168)  
Proceeds from sales of common stock 11,862,198 13,370,984
(Payments to) proceeds from related parties (364,852) 128,855
Loan proceeds 22,891,045  
Loan principal payments (11,302,970) (2,826,631)
Net cash from financing activities 24,135,615 11,041,124
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (898,109) 1,949,185
CASH AND CASH EQUIVALENTS, beginning of period 2,053,192 104,007
CASH AND CASH EQUIVALENTS, end of period 1,155,083 2,053,192
Other Cash Transactions:    
Cash paid for interest 2,459,743 941,185
Non-cash Transactions:    
Debt incurred for acquisitions 51,216,465 22,541,179
Noncontrolling interests resulting from the issuance of common units $ 945,271 $ 7,588,970