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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Investments in real estate:    
Investments in real estate at cost $ 153,717 $ 153,565
Accumulated depreciation (13,110) (12,283)
Investments in real estate, net 140,607 141,282
Cash and cash equivalents 2,728 2,533
Restricted cash 1,176 1,150
Accounts receivable and other assets 284 345
Intangible assets, net of accumulated amortization of $196 and $79, respectively 157 274
Deferred costs, net of accumulated amortization of $86 and $68, respectively 595 613
Total Assets 145,547 146,197
LIABILITIES AND EQUITY:    
Mortgage indebtedness 92,413 92,413
Accounts payable and accrued expenses 1,770 1,986
Accrued interest payable 32 32
Dividends payable 504 499
Other liabilities 456 416
Total Liabilities 95,175 95,346
Stockholders' equity:    
Preferred stock, $0.01 par value; 50,000,000 shares authorized, 125 and 125 shares issued and outstanding, respectively 0 0
Common stock, $0.01 par value; 300,000,000 shares authorized, 356,558 and 345,063 shares issued and outstanding, respectively 4 3
Additional paid-in capital 3,591 3,490
Retained earnings (accumulated deficit) (448) (401)
Total stockholders' equity 3,147 3,092
Non-controlling interest 47,225 47,759
Total Equity 50,372 50,851
Total Liabilities and Equity $ 145,547 $ 146,197