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Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 11 – Subsequent Events

In connection with the preparation of its financial statements the Company has evaluated events that occurred subsequent to June 30, 2016 through the date on which these financial statements were available to be issued to determine whether any of these events required disclosure in the financial statements.

On July 1, 2016, the Operating Partnership, entered into a $40.0 million term loan agreement. The $40.0 million seven-year unsecured term loan facility (the “2023 Term Loan) is due July 1, 2023. Borrowings under the 2023 Term Loan are priced at LIBOR plus 165 to 225 basis points, depending on the Company’s leverage, and the Company entered into an interest rate swap starting on August 1, 2016 to fix LIBOR at 1.3985% until maturity.

There were no other reportable subsequent events or transactions.

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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

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