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Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net loss$ (1,686,801)$ (2,486,218)
Adjustments to reconcile net loss to net cash  
Depreciation amortization and amortization of above market rents3,231,4652,547,187
Stock compensation312,540243,405
Loss on sale of real estate assets56,9110
Bad debt expense51,429147,459
Equity Method Investment Dividends Or Distributions (1,769)
Net Income Loss Attributable To Noncontrolling Interest301,305155,391
Other assets(1,230,538)(383,571)
IncreaseDecreaseInAccounts Payable And Accrued Liabilities(15,145)(12,760)
Contributions received (distributed) in excess of distributions354,696(318,416)
Net cash provided by (used in) operating activities1,375,862(109,292)
Cash flows from investing activities:  
Real estate acquisitions(23,230,017)(15,653,167)
Acquisition of company0(300,000)
Proceeds on sale of real estate assets6,566,9510
Deposits on potential acquisitions(150,000)0
Purchase of notes receivable(112,602)0
Restricted cash(391,162)11,001
Net cash used in investing activities(17,316,830)(15,942,166)
Cash flows from financing activities:  
Proceeds from mortgage notes payable17,501,8907,925,000
Repayment of mortgage notes payable(8,178,513)(681,492)
Proceeds from Issuance of Common Stock7,993,76810,204,261
Repurchase of common stock(302,075)(62,934)
Repurchase of common stock - related parties(82,520)0
Redemption of preferred stock0(1,255,000)
Deferred stock issuance costs(171,362)(299,481)
Exercise of warrants01,890
Exercise of stock options02,000
Dividends paid(2,614,325)(2,084,884)
Net cash provided by financing activities14,146,86313,749,360
Additions to cash from consolidation of joint venture0269,152
Net (decrease) increase in cash and cash equivalents(1,794,105)(2,032,946)
Cash and cash equivalents:  
Beginning of year7,028,0909,298,523
End of period5,233,9857,265,577
Supplemental Cash Flow Information [Abstract]  
Interest paid2,444,7931,411,426
Non-cash investing and financing activities:  
Reclassification Of Investment In Real Estate021,188,400
Reinvestment of cash dividend2,867,2412,609,877
Accrual of dividends payable967,927751,228
Accrual of goodwill and related liability01,032,000
Change in par value for Maryland reincorporation085,343,431
Common Shares issued upon exercise of warrants$ 0$ 453,889