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Investments In Real Estate | 3 Months Ended
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Mar. 31, 2014
Investments In Real Estate [Abstract] |
Investments In Real Estate | Note 4. Investments in Real Estate During the three months ended March 31, 2014, the Company acquired three industrial buildings containing 318,822 square feet, including the assumption of a mortgage loan with a total principal amount of approximately $2.8 million with a fixed interest rate of 5.09% that matures in August 2015. The total aggregate initial investment was approximately $33.9 million, of which $1 1.5 mi l lion was recorded to land, $20.3 million to buildings and improvements, $2.1 million to intangible assets and $0.3 million to intangible liabilities. The Company recorded revenues and net income for the three months ended March 31, 2014 of approximately $0.1 million and $16,000, respectively, related to the 2014 acquisitions. During the three months ended March 31, 2013, the Company acquired two industrial building s containing 117,867 square feet. The total aggregate initial investment was approximately $11.9 million, of which $5.3 million was recorded to land, $6.1 m illion to buildings and improvements, $0.5 million to intangible assets and $0.4 million to intangible liabilities. The Company recorded revenues and net income for the three months ended March 31, 2013 of approximately $0.1 million and $33,000, respectively, related to the 2013 acquisitions. The above assets and liabilities were recorded at fair value, which uses Level 3 inputs. The properties were acquired from unrelated third parties using existing cash on hand and borrowings under the credit facility and were accounted for as business combinations. Pro Forma Financial Information: The following supplementary pro forma financial information presents the results of operations of the Company for the three months ended March 31, 2014 and 2013 as if all of the Company’s acquisitions during the three months ended March 31, 2014 occurred on January 1, 2013. The following pro forma results for the three months ended March 31, 2014 and 2013 have been presented for comparative purposes only and are not necessarily indicative of the results of operations that would have actually occurred had all transactions taken place on January 1, 2013, or of future results of operations (dollars in thousands, except per share data).
|  | For the Three Months Ended March 31,
|  | 2014 |  |  | 2013
|  | (Unaudited)
Total revenues | $ | 16,172 |  | $ | 10,489
Net and comprehensive income available to common stockholders, net of |  |  |  |  |
preferred stock dividends |  | 1,353 |  |  | (1,381)
Basic and diluted net income available to common stockholders per share, net of preferred |  |  |  |  |
stock dividends | $ | 0.05 |  | $ | (0.09)

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Audit and Accounting Guide (AAG) -Number AAG-DEP -Paragraph 2, 6, 9-11, 18, 20 -IssueDate 2006-05-01 -Chapter 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 7, 34 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 34 -Paragraph 9, 11, 12, 13, 14, 15, 21 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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