v2.4.0.8
Borrowings under Mortgage Notes Payable (Details) (USD $)
 0 Months Ended 1 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Feb. 28, 2013
Calamar Enterprises, Inc.
Care Cal JV LLC
Sep. 30, 2013
Mortgages
Dec. 31, 2012
Mortgages
Apr. 24, 2012
Mortgages
Mortgage Note Due 2022
loan
Sep. 30, 2013
Mortgages
Red Mortgage Capital, Inc
Mortgage Note Due 2015
property
Dec. 31, 2012
Mortgages
Red Mortgage Capital, Inc
Mortgage Note Due 2015
Jun. 30, 2008
Mortgages
Red Mortgage Capital, Inc
Mortgage Note Due 2015
Sep. 30, 2013
Mortgages
Red Mortgage Capital, Inc
Mortgage Note Due 2015
property
Dec. 31, 2012
Mortgages
Red Mortgage Capital, Inc
Mortgage Note Due 2015
Sep. 30, 2008
Mortgages
Red Mortgage Capital, Inc
Mortgage Note Due 2015
Sep. 30, 2013
Mortgages
KeyCorp Real Estate Capital Market
Mortgage Note Due 2022
Dec. 31, 2012
Mortgages
KeyCorp Real Estate Capital Market
Mortgage Note Due 2022
Apr. 24, 2012
Mortgages
KeyCorp Real Estate Capital Market
Mortgage Note Due 2022
Feb. 28, 2013
Mortgages
Liberty Bank
loan
Sep. 30, 2013
Mortgages
Liberty Bank
Sep. 30, 2013
Mortgages
Liberty Bank
Mortgage Note Due 2020
property
Jan. 31, 2013
Mortgages
Liberty Bank
Mortgage Note Due 2020
Dec. 31, 2012
Mortgages
Liberty Bank
Mortgage Note Due 2020
Sep. 30, 2013
Mortgages
Liberty Bank
Mortgage Note Due 2019
property
Dec. 31, 2012
Mortgages
Liberty Bank
Mortgage Note Due 2019
Jul. 31, 2012
Mortgages
Liberty Bank
Mortgage Note Due 2019
Debt Instrument [Line Items]                                              
Debt stated interest rate (as a percent)           4.76% [1]     6.845%     7.17%     4.76% [1]       4.50% [2]       4.00% [2]
Mortgage notes       $ 33,469,000 $ 94,859,000   $ 0 $ 71,978,000   $ 0 $ 7,332,000   $ 15,372,000 [1] $ 15,549,000 [1]       $ 7,618,000 [2]   $ 0 [2] $ 10,479,000 [2] $ 0 [2]  
Unamortized premium       0 373,000                                    
Unamortized discount       (215,000) 0                                    
Mortgage notes payable 33,254,000 95,232,000   33,254,000 95,232,000                                    
Number of properties             12     2               1     1    
Number of mortgage loans           3                   2              
Aggregate balance           $ 15,680,000 [1]                     $ 18,097,000 [2]            
Amortization period (in years)           30 years                                  
Date of first required interest and principal payment           Jun. 01, 2012                                  
Maturity Date           May 01, 2022                                  
Percentage of voting interest     75.00%                                        
Term of loan                               30 years              
[1] On April 24, 2012, the Company refinanced a bridge loan for the Greenfield properties by entering into three separate non-recourse loans (each a Greenfield Loan and collectively the Greenfield Loans) with KeyCorp Real Estate Capital Markets, Inc. (KeyCorp) for an aggregate amount of approximately $15,680. The Greenfield Loans bear interest at a fixed rate of 4.76%, amortize over a 30-year period, provide for monthly interest and principal payments commencing on June 1, 2012 and mature on May 1, 2022. The Greenfield Loans are secured by separate cross-collateralized, cross-defaulted first priority deeds of trust on each of the Greenfield properties. The Greenfield Loans are non-recourse to the Company except for certain non-recourse carveouts (customary for transactions of this type), as provided in the related guaranty agreements for each Greenfield Loan. Each Greenfield Loan contains typical representations and covenants for loans of this type. A breach of the representations or covenants could result in a default under each of the Greenfield Loans, which would result in all amounts owing under each of the Greenfield Loans to become immediately due and payable since all of the Greenfield Loans are cross-defaulted. In June 2012, KeyCorp sold each of the Greenfield Loans to Federal Home Loan Mortgage Corporation (Freddie Mac) under Freddie Mac’s Capital Markets Execution (CME) Program. As of September 30, 2013, the Company was in compliance with respect to all financial covenants related to the Greenfield Loans.
[2] (2)Effective February 2013, in connection with the acquisition of a 75% interest in Care Cal JV LLC by Care, the properties are encumbered by two separate loans from Liberty Bank with an aggregate balance of $18,097 as of September 30, 2013. Both of these loans amortize over a thirty year period at the fixed rates outlined in the table above. These loans are secured by separate first priority deeds of trust on each of the properties. Each of these loans contains typical representations and covenants for loans of this type. A breach of representations or covenants could result in a default under each of these loans, which would result in all amounts owing under the applicable loan to become immediately due and payable.