XML 45 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated and Combined Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
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
Building and improvement   62,908us-gaap_InvestmentBuildingAndBuildingImprovements
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Tenant improvement   14,591us-gaap_TenantImprovements
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Furniture, fixtures and equipment   198us-gaap_FurnitureAndFixturesGross
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Real estate properties, gross   107,862us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Accumulated depreciation   (7,735)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Real estate properties, net   100,127us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Investments in unconsolidated entity   4,338us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Cash and cash equivalents   7,128us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Restricted cash   7,368us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Rents receivable, net   4,680us-gaap_AccountsReceivableNetCurrent
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Deferred financing costs, net of accumulated amortization   1,168us-gaap_DeferredFinanceCostsNet
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Deferred leasing costs, net of accumulated amortization   2,303us-gaap_DeferredCostsLeasingNet
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Acquired lease intangibles assets, net   13,752us-gaap_FiniteLivedIntangibleAssetsNet
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Prepaid expenses and other assets   297us-gaap_PrepaidExpenseAndOtherAssets
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Deferred offering costs   1,829us-gaap_DeferredOfferingCosts
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Total Assets   142,990us-gaap_Assets
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Liabilities:    
Debt   109,916us-gaap_LongTermDebt
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Accounts payable and accrued liabilities   2,348us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Deferred rent   1,489us-gaap_DeferredRentCredit
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Tenant rent deposits   1,362us-gaap_SecurityDepositLiability
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Acquired lease intangibles liability, net   167us-gaap_OffMarketLeaseUnfavorable
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Total Liabilities   115,282us-gaap_Liabilities
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Commitments and Contingencies (Note 11)     
Equity:    
Predecessor equity   26,624cio_PartnersCapitalAttributableToParent
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Total Stockholders' and Predecessor Equity   26,624us-gaap_StockholdersEquity
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Non-controlling interests in properties   1,084us-gaap_PartnersCapitalAttributableToNoncontrollingInterest
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Total Equity   27,708us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember
Total Liabilities and Equity   $ 142,990us-gaap_LiabilitiesAndStockholdersEquity
/ us-gaap_StatementScenarioAxis
= us-gaap_PredecessorMember