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Segments | 12 Months Ended
--- | ---
Dec. 31, 2011
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 10. SEGMENTS The Company's reportable segments consist of the four types of commercial real estate properties for which the Company's decision-makers internally evaluate operating performance and financial results: Residential Properties, Industrial and Office Properties, Retail Properties, Self-Storage Properties and Mortgage Loans. The Company also has certain corporate level activities including accounting, finance, legal administration and management information systems which are not considered separate operating segments. The Company's chief operating decision maker evaluates the performance of its segments based upon net operating income. Net operating income is defined as operating revenues (rental income, tenant reimbursements and other property income) less property and related expenses (property expenses, real estate taxes, ground leases and provisions for bad debts) and excludes other non-property income and expenses, interest expense, depreciation and amortization, and general and administrative expenses. The accounting policies of the reportable segments are the same as those described in the Company's significant accounting policies (see Note 2). There is no intersegment activity. The following tables reconcile the Company's segment activity to its results of operations and financial position as of and for the years ended December 31, 2011 and 2010.
|  | Year Ended December 31,
|  | 2011 |  |  | 2010
Industrial/Office Properties: |  |  |  |  |
Rental income | $ | 6,790,869 |  | $ | 5,098,989
Property and related expenses |  | 2,660,482 |  |  | 2,333,494
Asset impairment |  | - |  |  | 1,000,000
Net operating income, as defined |  | 4,130,387 |  |  | 1,765,495
Equity in earnings from real estate ventures |  | - |  |  | (22,378)
Residential Properties: |  |  |  |  |
Rental income |  | 2,982,300 |  |  | 1,497,714
Property and related expenses |  | 317,924 |  |  | 186,979
Asset impairment |  | 429,000 |  |  |
Net operating income, as defined |  | 2,235,376 |  |  | 1,310,735
Equity in earnings from real estate ventures |  | - |  |  | 24,147
Retail Properties: |  |  |  |  |
Rental income |  | 2,001,405 |  |  | 1,657,010
Property and related expenses |  | 587,938 |  |  | 521,894
Net operating income, as defined |  | 1,413,467 |  |  | 1,135,116
Self-Storage Properties: |  |  |  |  |
Rental income |  | 2,302,531 |  |  | 1,941,354
Property and related expenses |  | 1,377,666 |  |  | 1,269,654
Net operating income, as defined |  | 924,865 |  |  | 671,700
Mortgage loan activity: |  |  |  |  |
Interest income |  | 97,448 |  |  | 59,276
Reconciliation to Net Income Available to Common Shareholders: |  |  |  |  |
Total net operating income, as defined, for reportable segments |  | 8,801,543 |  |  | 4,944,091
Unallocated other income: |  |  |  |  |
Total other income |  | 28,214 |  |  | 42,609
Gain on sale of real estate |  | 119,925 |  |  | -
General and administrative expenses |  | 3,846,177 |  |  | 3,411,691
Interest expense |  | 3,194,887 |  |  | 2,044,394
Depreciation and amortization |  | 4,170,626 |  |  | 3,531,261
Bargain purchase gain from tender offer |  | - |  |  | 872,152
Net loss before noncontrolling interests |  | (2,262,008) |  |  | (3,128,494)
Noncontrolling interests |  | 354,895 |  |  | (139,145)
Net loss |  | (2,616,903) |  |  | (2,989,349)
Preferred dividends |  | - |  |  | (34,447)
Net loss available for common shareholders | $ | (2,616,903) |  | $ | (3,023,796)
|  | December 31,
|  | 2011 |  |  | 2010
Assets: |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |
Land, buildings and improvements, net (1) | $ | 75,314,093 |  | $ | 52,809,840
Total assets (2) |  | 77,563,998 |  |  | 53,999,471
Residential Property: |  |  |  |  |
Land, buildings and improvements, net |  | 21,129,410 |  |  | 24,149,325
Total assets |  | 22,434,205 |  |  | 25,922,496
Retail Properties: |  |  |  |  |
Land, buildings and improvements, net (1) |  | 23,647,629 |  |  | 17,228,980
Total assets (2) |  | 24,893,157 |  |  | 17,467,113
Self-Storage Properties: |  |  |  |  |
Land, buildings and improvements, net (1) |  | 27,663,755 |  |  | 25,596,881
Total assets (2) |  | 27,832,381 |  |  | 25,876,852
Mortgage loan activity: |  |  |  |  |
Mortgage receivable and accrued interest |  | 1,032,082 |  |  | 920,216
Total assets |  | 1,032,082 |  |  | 920,216
Reconciliation to Total Assets: |  |  |  |  |
Total assets for reportable segments |  | 153,755,823 |  |  | 124,186,148
Other unallocated assets: |  |  |  |  |
Cash and cash equivalents |  | 4,872,081 |  |  | 7,028,090
Prepaid expenses and other assets, net |  | 3,024,027 |  |  | 2,101,724
Total Assets | $ | 161,651,931 |  | $ | 133,315,962
____________ |  |  |  |  |
(1) Includes lease intangibles and the land purchase option
related to property acquisitions.
(2) Includes land, buildings and improvements, current receivables, deferred rent receivables and
deferred leasing costs and other related intangible assets, all shown on a net basis.
|  | Years ended December 31,
|  | 2011 |  |  | 2010
Capital Expenditures:(1) |  |  |  |  |
Industrial and Office Properties: |  |  |  |  |
Acquisition of operating properties | $ | 24,075,000 |  | $ | 10,000,000
Non-cash portion of acquisition of operating properties |  | (1,649,266) |  |  |
Capital expenditures and tenant improvements |  | 1,070,498 |  |  | 726,905
Residential Property: |  |  |  |  |
Acquisition of operating properties |  | 5,971,980 |  |  | 5,674,050
Retail Properties: |  |  |  |  |
Acquisition of operating properties |  | 6,767,700 |  |  | -
Capital expenditures and tenant improvements |  | 119,746 |  |  | 109,059
Self Storage Properties: |  |  |  |  |
Acquisition of operating properties |  | 2,615,000 |  |  | 4,875,000
Capital expenditures and tenant improvements |  | 21,952 |  |  | 49,257
Acquisition of operating properties |  | 37,780,414 |  |  | 20,549,050
Capital expenditures and tenant improvements |  | 1,212,196 |  |  | 885,221
Total real estate investments | $ | 38,992,610 |  | $ | 21,434,271
____________ (1) Total consolidated capital expenditures are equal to the same amounts disclosed for total reportable segments.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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