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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
ASSETS:    
Investments in real estate, net of accumulated depreciation of $10,021 and $9,304, respectively $ 127,564 $ 128,124
Cash and cash equivalents 4,214 1,107
Restricted cash 1,204 1,072
Accounts receivable and other assets 274 543
Deferred costs, net of accumulated amortization of $27 and $15, respectively 497 506
Total assets 133,753 131,352
LIABILITIES AND EQUITY:    
Mortgage indebtedness 82,175 82,175
Accounts payable and accrued expenses 1,465 1,529
Other liabilities 643 590
Total liabilities 84,283 84,294
Equity:    
Preferred stock, $0.01 par value; 50,000,000 shares authorized, 125 shares issued and outstanding 0 0
Common stock, $0.01 par value; 300,000,000 shares authorized, 320,000 shares issued and outstanding 3 0
Additional paid-in capital 3,268 200
Retained earnings (accumulated deficit) (158) (113)
Total stockholder's equity 3,113 87
Non-controlling interest 46,357 46,971
Total equity 49,470 47,058
Total liabilities and equity $ 133,753 $ 131,352