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REAL ESTATE, NET (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of unaudited pro forma information

	For the three months ended March 31, 2013
	Company					Consolidated
	Historical			Acquisitions		Pro Forma
Operating lease income	$	6,484,040		433,880		$	6,917,920
Net income	88,049,972			190,352		88,240,324
Net (income) loss attributable to noncontrolling interest	(27,244		)	(16,690	)	(43,934		)
Net income attributable to preferred and common unit holders	88,022,728			173,663		88,196,391

Schedule of additional detail related to the entity's real estate portfolio

	March 31, 2014			December 31, 2013

Land	$	91,609,368		$	91,609,368
Building	460,927,579			474,301,322
In-place leases and other intangibles	83,909,105			83,909,105
Real estate	636,446,052			649,819,795
Less: Accumulated depreciation and amortization	(32,693,319		)	(25,600,780		)

Real estate, net	$	603,752,733		$	624,219,015

Schedule of depreciation and amortization expense recorded

	Three Months Ended March 31,
	2014		2013

Depreciation expense	$	4,842,086	$	2,388,871
Amortization expense	2,448,149		597,885
Total real estate deprecation and amortization expense (1)	$	7,290,235	$	2,986,756

(1) Depreciation expense on the combined consolidated statement of income also includes $137,023 and $136,827 of depreciation on corporate fixed assets for the three months ended March 31, 2014 and 2013, respectively.

Schedule of expected amortization expense related to the acquired in-place lease intangibles, for property owned

Period ended December 31,	Amount
2014 (last 9 months)	$	7,808,714
2015	10,411,619
2016	10,288,686
2017	5,399,510
2018	3,938,820
Thereafter	28,886,327
Total	$	66,733,676

Schedule of contractual future minimum rent under leases

Period ended December 31,	Amount
2014 (last 9 months)	$	32,912,425
2015	41,011,099
2016	35,572,690
2017	32,504,605
2018	30,157,074
Thereafter	291,112,205
Total	$	463,270,098