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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2014
Fair Value Disclosures [Abstract] |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | The table below sets forth the Company’s fair value hierarchy for assets and liabilities measured or disclosed at fair value as of December 31, 2014.
Asset: |  | Level 1 |  | Level 2 |  | Level 3 |  | Carrying Value |
Interest rate swaps |  | $ | - |  | $ | 274,013 |  | $ | - |  | $ | 274,013 |
Liability: |  | Level 1 |  | Level 2 |  | Level 3 |  | Carrying Value |
Interest rate swaps |  | $ | - |  | $ | 2,383,308 |  | $ | - |  | $ | 2,383,308 |
Mortgage notes payable |  | $ | - |  | $ | - |  | $ | 107,814,314 |  | $ | 106,762,238 |
Revolving credit facility |  | $ | - |  | $ | 15,000,000 |  | $ | - |  | $ | 15,000,000 |
Unsecured term loans |  | $ | - |  | $ | - |  | $ | 97,918,642 |  | $ | 100,000,000 |
The table below sets forth the Company’s fair value hierarchy for liabilities measured or disclosed at fair value as of December 31, 2013.
Asset: |  | Level 1 |  | Level 2 |  | Level 3 |  | Carrying Value |
Interest rate swaps |  | $ | - |  | $ | 679,234 |  | $ | - |  | $ | 679,234 |
Liability: |  | Level 1 |  | Level 2 |  | Level 3 |  | Carrying Value |
Interest rate swaps |  | $ | - |  | $ | 204,696 |  | $ | - |  | $ | 204,696 |
Mortgage notes payable |  | $ | - |  | $ | - |  | $ | 108,385,281 |  | $ | 113,897,758 |
Revolving credit facility |  | $ | - |  | $ | 9,500,000 |  | $ | - |  | $ | 9,500,000 |
Unsecured term loan |  | $ | - |  | $ | - |  | $ | 32,728,011 |  | $ | 35,000,000 |

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- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
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