CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (9,806)	$ (9,421)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,504	6,776
Amortization of deferred financing costs	1,155	597
Accretion of below- and amortization of above-market lease liabilities and assets, net	(1,251)	(877)
Share-based compensation	20	2
Changes in assets and liabilities:
Prepaid expenses, other assets and deferred costs	(2,573)	(4,916)
Accounts payable, accrued expenses and other liabilities	(216)	2,550
Deferred revenue	1,221	477
Net cash used in operating activities	(1,946)	(4,812)
Cash flows from investing activities:
Investments in real estate	(79,162)	(157,029)
Purchase of investment securities	(4)	(7)
Acquisition funds released from escrow	0	2,068
Capital expenditures	(9,014)	(3,663)
Net cash used in investing activities	(88,180)	(158,631)
Cash flows from financing activities:
Payments of offering costs and fees related to common stock issuances	0	(27,688)
Payments of financing costs	(3,327)	(4,588)
Proceeds from issuance of common stock	0	209,576
Distributions paid	(12,177)	(8,727)
Repurchases of common stock	(1,677)	(172)
Restricted cash	(2,132)	0
Net cash provided by (used in) financing activities	(19,313)	168,401
Net change in cash and cash equivalents	(109,439)	4,958
Cash and cash equivalents, beginning of period	182,700	184,341
Cash and cash equivalents, end of period	73,261	189,299
Supplemental Disclosures:
Cash paid for interest	1,484	427
Non-Cash Investing and Financing Activities
Receivable for offering cost reimbursement	775	750
Mortgage note payable used to acquire investments in real estate	99,000	96,000
Accrued stock repurchase requests	10,651	1,430
Distributions payable	3,829	3,593
Accrued offering costs	17	606
Accrued capital expenditures	17	1,881
Other assets acquired in real estate transactions	0	458
Other liabilities assumed in real estate transactions	353	429
Common stock issued through distribution reinvestment plan	$ 10,986	$ 8,994