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Note and Mortgages Payable (Details 1) (USD $) | Dec. 31, 2013
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Year Ending December 31 |  |
2014 | $ 12,730,495 |
2015 | 13,191,970 | [1]
2016 | 12,520,195 |
2017 | 22,489,650 | [2]
2018 | 27,403,792 |
Thereafter | 70,061,657 |
Total debt | $ 158,397,759 |
[1] | Scheduled maturities in 2015 include the $9,500,000 outstanding balance under the Credit Facility as of December 31, 2013. The Credit Facility matures on October 26, 2015, and may be extended at the Company’s election, for two one-year terms to October 2017, subject to certain conditions.
[2] | Scheduled maturities in 2017 include $19,744,758 which represents the ending balance of a note payable due in 2017. The note matures May 14, 2017 and may be extended, at the Company’s election, for a two-year term to May 2019, subject to certain conditions.

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