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Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Assets [Abstract]    
Real estate assets and lease intangibles, net $ 165,638,719 $ 147,754,887
Mortgages receivable 920,216 1,032,082
Cash And Cash Equivalents At Carrying Value 10,746,536 4,872,081
Restricted cash 1,113,123 966,687
Other real estate owned 900,000 2,178,531
Other assets, net 5,813,399 4,847,663
TOTAL ASSETS 185,131,993 161,651,931
Liabilities:    
Mortgage notes payable 92,480,363 65,929,797
Accounts payable and accrued liabilities 4,126,771 4,001,055
Liabililities related to assets held for sale 800,000  
Dividends payable 1,142,191 1,008,699
Total liabilities 97,749,325 70,939,551
Shareholders' equity:    
Convertible series AA preferred stock, no par value, $25 liquidating preference, shares authorized: 1,000,000; no shares issued and outstanding liquidating value of $1,255,000 0 0
Convertible Preferred Stock 16 16
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 157,674 152,881
Common stock series B, no par value, shares authorized: 1,000; no shares issued and outstanding 0 0
Additional paid-in capital 134,884,312 130,416,731
Dividends in excess of accumulated losses (58,337,457) (47,777,886)
Total shareholders' equity before noncontrolling interest 76,704,545 82,791,742
Noncontrolling interest 10,678,123 7,920,638
Total shareholders' equity 87,382,668 90,712,380
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 185,131,993 $ 161,651,931