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Condensed Consolidated Statements of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net loss $ (1,269,204) $ (1,735,390)
Adjustments to reconcile net loss to net cash    
Depreciation amortization and amortization of above market rents 2,070,344 1,667,163
Stock compensation 219,240 167,400
Loss on sale of real estate assets 24,487 0
Bad debt expense 46,843 109,440
Equity Method Investment Dividends Or Distributions   (1,769)
Net Income Loss Attributable To Noncontrolling Interest 226,118 94,495
Other assets (759,733) (348,716)
IncreaseDecreaseInAccounts Payable And Accrued Liabilities (157,632) (648,515)
Contributions received (distributed) in excess of distributions 181,710 (194,350)
Net cash provided by (used in) operating activities 582,173 (890,242)
Cash flows from investing activities:    
Real estate acquisitions (14,022,897) (5,479,379)
Acquisition of company 0 (300,000)
Proceeds on sale of real estate assets 5,158,798 0
Deposits on potential acquisitions (283,000) 0
Purchase of notes receivable (113,275) 0
Restricted cash (79,981) 149,097
Net cash used in investing activities (9,340,355) (5,630,282)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 13,117,990 2,925,000
Repayment of mortgage notes payable (6,018,897) (416,624)
Proceeds from Issuance of Common Stock 5,349,559 7,520,033
Repurchase of common stock (302,075) 0
Repurchase of common stock - related parties (82,520) 0
Redemption of preferred stock 0 (1,255,000)
Deferred stock issuance costs (218,400) (331,646)
Exercise of warrants 0 1,890
Exercise of stock options 0 2,000
Dividends paid (1,697,448) (1,367,136)
Net cash provided by financing activities 10,148,209 7,078,517
Additions to cash from consolidation of joint venture 0 269,152
Net (decrease) increase in cash and cash equivalents 1,390,027 827,145
Cash and cash equivalents:    
Beginning of year 7,028,090 9,298,523
End of period 8,418,117 10,125,668
Supplemental Cash Flow Information [Abstract]    
Interest paid 1,397,560 852,610
Non-cash investing and financing activities:    
Reclassification Of Investment In Real Estate 0 21,188,400
Reinvestment of cash dividend 1,904,882 1,696,945
Accrual of dividends payable 916,878 718,219
Accrual of goodwill and related liability $ 0 $ 1,032,000