Investments in Real Estate (Tables)

6 Months Ended

Jun. 30, 2013

The table below summarizes our investments in real estate as of June 30, 2013 and December 31, 2012:


	As of June 30, 2013			As of December 31, 2012
Land	$	30,168		$	30,168
Building		121,390			121,390
Furniture, fixtures and equipment		2,482			2,007

Total investment in real estate		154,040			153,565
Accumulated depreciation		(13,949	)		(12,283	)

Investments in real estate, net	$	140,091		$	141,282

Summary of Aggregate Carrying Value of Assets and Liabilities

The following table summarizes the aggregate carrying value of the assets and liabilities associated with the properties acquired during the year ended December 31, 2012, on the respective date of each acquisition, for the real estate accounted for under FASB ASC Topic 805.


Description	Carrying Amount
Assets acquired:
Investments in real estate	$	15,397
Intangible asset		353
Liabilities assumed:
Mortgage indebtedness		(10,238	)

Carrying amount of net assets acquired		5,512

Pro Forma of Financial Information Purport to Represent Results of Operations for Future Periods

Our consolidated unaudited pro forma information, after including the acquisition of real estate properties, is presented below as if the acquisitions occurred on January 1, 2012. These pro forma results are not necessarily indicative of the results which actually would have occurred if the acquisition had occurred on the first day of the periods presented, nor does the pro forma financial information purport to represent the results of operations for future periods:


Description	For the Three-Month Period Ended June 30, 2012			For the Six-Month Period Ended June 30, 2012
Total revenue, as reported	$	4,086		$	8,076
Pro forma revenue		4,625			9,154
Net income (loss) allocable to common shares, as reported		(14	)		(40	)
Pro forma net income (loss) allocable to common shares		(12	)		(43	)