Consolidated and Combined Balance Sheets (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2014
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Dec. 31, 2013
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Assets | ||
Land | $ 66,204us-gaap_Land | |
Building and improvement | 132,964us-gaap_InvestmentBuildingAndBuildingImprovements | |
Tenant improvement | 27,773us-gaap_TenantImprovements | |
Furniture, fixtures and equipment | 198us-gaap_FurnitureAndFixturesGross | |
Real estate properties, gross | 227,139us-gaap_RealEstateInvestmentPropertyAtCost | |
Accumulated depreciation | (15,311)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation | |
Real estate properties, net | 211,828us-gaap_RealEstateInvestmentPropertyNet | |
Cash and cash equivalents | 34,862us-gaap_CashAndCashEquivalentsAtCarryingValue | 7,128us-gaap_CashAndCashEquivalentsAtCarryingValue |
Restricted cash | 11,093us-gaap_RestrictedCashAndCashEquivalents | |
Rents receivable, net | 7,981us-gaap_AccountsReceivableNetCurrent | |
Deferred financing costs, net of accumulated amortization | 2,901us-gaap_DeferredFinanceCostsNet | |
Deferred leasing costs, net of accumulated amortization | 2,618us-gaap_DeferredCostsLeasingNet | |
Acquired lease intangibles assets, net | 29,391us-gaap_FiniteLivedIntangibleAssetsNet | |
Prepaid expenses and other assets | 832us-gaap_PrepaidExpenseAndOtherAssets | |
Total Assets | 301,506us-gaap_Assets | |
Liabilities: | ||
Debt | 189,940us-gaap_LongTermDebt | |
Accounts payable and accrued liabilities | 4,080us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent | |
Deferred rent | 2,212us-gaap_DeferredRentCredit | |
Tenant rent deposits | 1,862us-gaap_SecurityDepositLiability | |
Acquired lease intangibles liability, net | 606us-gaap_OffMarketLeaseUnfavorable | |
Dividend distributions payable | 3,571us-gaap_DividendsPayableCurrentAndNoncurrent | |
Earn-out liability | 8,000cio_EarnOutLiabilities | |
Total Liabilities | 210,271us-gaap_Liabilities | |
Commitments and Contingencies (Note 11) | ||
Equity: | ||
Common stock, $0.01 par value, 100,000,000 shares authorized, 12,279,110 shares issued and outstanding | 123us-gaap_CommonStockValue | |
Additional paid-in capital | 91,308us-gaap_AdditionalPaidInCapital | |
Accumulated deficit | (11,320)us-gaap_RetainedEarningsAccumulatedDeficit | |
Total Stockholders' and Predecessor Equity | 80,111us-gaap_StockholdersEquity | |
Operating Partnership unitholders' non-controlling interests | 11,878us-gaap_MinorityInterestInOperatingPartnerships | |
Non-controlling interests in properties | (754)us-gaap_PartnersCapitalAttributableToNoncontrollingInterest | |
Total Equity | 91,235us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest | |
Total Liabilities and Equity | 301,506us-gaap_LiabilitiesAndStockholdersEquity | |
Predecessor [Member] | ||
Assets | ||
Land | 30,165us-gaap_Land / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Building and improvement | 62,908us-gaap_InvestmentBuildingAndBuildingImprovements / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Tenant improvement | 14,591us-gaap_TenantImprovements / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Furniture, fixtures and equipment | 198us-gaap_FurnitureAndFixturesGross / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Real estate properties, gross | 107,862us-gaap_RealEstateInvestmentPropertyAtCost / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Accumulated depreciation | (7,735)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Real estate properties, net | 100,127us-gaap_RealEstateInvestmentPropertyNet / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Investments in unconsolidated entity | 4,338us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Cash and cash equivalents | 7,128us-gaap_CashAndCashEquivalentsAtCarryingValue / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Restricted cash | 7,368us-gaap_RestrictedCashAndCashEquivalents / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Rents receivable, net | 4,680us-gaap_AccountsReceivableNetCurrent / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Deferred financing costs, net of accumulated amortization | 1,168us-gaap_DeferredFinanceCostsNet / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Deferred leasing costs, net of accumulated amortization | 2,303us-gaap_DeferredCostsLeasingNet / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Acquired lease intangibles assets, net | 13,752us-gaap_FiniteLivedIntangibleAssetsNet / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Prepaid expenses and other assets | 297us-gaap_PrepaidExpenseAndOtherAssets / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Deferred offering costs | 1,829us-gaap_DeferredOfferingCosts / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Total Assets | 142,990us-gaap_Assets / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Liabilities: | ||
Debt | 109,916us-gaap_LongTermDebt / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Accounts payable and accrued liabilities | 2,348us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Deferred rent | 1,489us-gaap_DeferredRentCredit / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Tenant rent deposits | 1,362us-gaap_SecurityDepositLiability / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Acquired lease intangibles liability, net | 167us-gaap_OffMarketLeaseUnfavorable / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Total Liabilities | 115,282us-gaap_Liabilities / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Commitments and Contingencies (Note 11) | ||
Equity: | ||
Predecessor equity | 26,624cio_PartnersCapitalAttributableToParent / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Total Stockholders' and Predecessor Equity | 26,624us-gaap_StockholdersEquity / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Non-controlling interests in properties | 1,084us-gaap_PartnersCapitalAttributableToNoncontrollingInterest / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Total Equity | 27,708us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
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Total Liabilities and Equity | $ 142,990us-gaap_LiabilitiesAndStockholdersEquity / us-gaap_StatementScenarioAxis = us-gaap_PredecessorMember |
X | ||||||||||
- Definition
Earn Out Liabilities No definition available.
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X | ||||||||||
- Definition
Amount of partners' capital attributable to the parent interests. No definition available.
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X | ||||||||||
- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This element is net of accumulated amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Specific incremental costs directly attributable to a proposed or actual offering of securities which are deferred at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of the equity interests owned by noncontrolling partners in an operating partnership included in the entity's consolidated financial statements. No definition available.
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X | ||||||||||
- Definition
This element represents a liability associated with the acquisition of an off-market lease when the terms of the lease are unfavorable to the market terms for the lease at the date of acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total of all Partners' Capital (deficit) items which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of partners' capital (deficit), including portions attributable to both the parent and noncontrolling interests. Excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets. No definition available.
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X | ||||||||||
- Definition
The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The carrying amount of investments in unconsolidated real estate and other joint ventures not separately presented. This includes direct and indirect investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of improvements having a life longer than one year that were made for the benefit of one or more tenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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