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Segments | 9 Months Ended
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Sep. 30, 2013
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 7. 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 in come, tenant reimbursements, other property income and impairment charges, if any.) 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, de preciation 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 three and nine months ended September 30, 2013 and 2012, respectively.
|  | Three Months Ended |  | Nine Months Ended,
|  | September 30, |  | September 30,
|  | 2013 |  | 2012 |  | 2013 |  | 2012
Industrial/Office Properties: |  |  |  |  |  |  |  |  |  |  |
Rental income | $ | 2,638,194 |  | $ | 2,350,032 |  | $ | 7,848,551 |  | $ | 6,499,299
Property and related expenses |  | 880,108 |  |  | 806,940 |  |  | 2,537,538 |  |  | 2,204,997
Net operating income, as defined |  | 1,758,086 |  |  | 1,543,092 |  |  | 5,311,013 |  |  | 4,294,302
Residential Properties: |  |  |  |  |  |  |  |  |  |  |
Rental income |  | 696,922 |  |  | 731,188 |  |  | 2,327,340 |  |  | 2,113,044
Property and related expenses |  | 25,722 |  |  | 75,185 |  |  | 178,556 |  |  | 259,426
Net operating income, as defined |  | 671,200 |  |  | 656,003 |  |  | 2,148,784 |  |  | 1,853,618
Retail Properties: |  |  |  |  |  |  |  |  |  |  |
Rental income |  | 614,979 |  |  | 789,580 |  |  | 2,255,351 |  |  | 2,161,924
Property and related expenses |  | 234,942 |  |  | 260,294 |  |  | 622,246 |  |  | 620,263
Net operating income, as defined |  | 380,037 |  |  | 529,286 |  |  | 1,633,105 |  |  | 1,541,661
Self-Storage Properties: |  |  |  |  |  |  |  |  |  |  |
Rental income |  | 839,272 |  |  | 730,947 |  |  | 2,383,990 |  |  | 2,188,805
Property and related expenses |  | 466,697 |  |  | 359,722 |  |  | 1,276,518 |  |  | 1,082,494
Net operating income, as defined |  | 372,575 |  |  | 371,225 |  |  | 1,107,472 |  |  | 1,106,311
Property management expenses (1) |  | 83,811 |  |  | - |  |  | 226,951 |  |  | -
Mortgage loan activity: |  |  |  |  |  |  |  |  |  |  |
Interest income |  | 14,901 |  |  | 21,010 |  |  | 44,215 |  |  | 57,533
Reconciliation to Net Loss |  |  |  |  |  |  |  |  |  |  |
| Available to Common Shareholders: |  |  |  |  |  |  |  |  |  |  |
Total net operating income, |  |  |  |  |  |  |  |  |  |  |
| as defined, for reportable segments |  | 3,112,988 |  |  | 3,120,616 |  |  | 10,017,638 |  |  | 8,853,425
Unallocated other income: |  |  |  |  |  |  |  |  |  |  |
Total other income |  | 1,708 |  |  | 286,508 |  |  | 64,089 |  |  | 290,474
Gain on sale of real estate |  | 169,460 |  |  | 81,695 |  |  | 1,026,371 |  |  | 180,770
General and administrative expenses |  | 1,166,374 |  |  | 980,508 |  |  | 3,606,963 |  |  | 3,176,778
Interest expense |  | 1,247,604 |  |  | 1,167,736 |  |  | 3,800,959 |  |  | 3,220,906
Depreciation and amortization |  | 1,353,612 |  |  | 1,219,925 |  |  | 3,994,350 |  |  | 3,610,813
Asset impairments |  | (1,500,000) |  |  | (358,000) |  |  | (1,500,000) |  |  | (358,000)
Net loss before noncontrolling interests |  | (1,983,434) |  |  | (237,350) |  |  | (1,794,174) |  |  | (1,041,828)
Noncontrolling interests |  | 236,653 |  |  | 139,068 |  |  | 875,264 |  |  | 339,422
Net loss | $ | (2,220,087) |  | $ | (376,418) |  | $ | (2,669,438) |  | $ | (1,381,250)
| September 30, |  | December 31,
| 2013 |  | 2012
Assets: |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |
Land, buildings and improvements, net (1) | $ | 85,039,844 |  | $ | 86,695,553
Total assets (2) |  | 91,681,052 |  |  | 90,286,093
Residential Property: |  |  |  |  |
Land, buildings and improvements, net (1) |  | 23,293,730 |  |  | 29,399,405
Total assets (2) |  | 23,619,550 |  |  | 31,869,016
Retail Properties: |  |  |  |  |
Land, buildings and improvements, net (1) |  | 22,090,970 |  |  | 22,613,528
Total assets (2) |  | 23,457,174 |  |  | 23,913,305
Self-Storage Properties: |  |  |  |  |
Land, buildings and improvements, net (1) |  | 30,131,911 |  |  | 26,930,233
Total assets (2) |  | 31,028,008 |  |  | 27,384,412
Mortgage loan activity: |  |  |  |  |
Mortgage receivable and accrued interest |  | 920,216 |  |  | 920,216
Total assets |  | 920,216 |  |  | 920,216
Reconciliation to Total Assets: |  |  |  |  |
Total assets for reportable segments |  | 170,706,000 |  |  | 174,373,042
Other unallocated assets: |  |  |  |  |
Cash and cash equivalents |  | 8,611,182 |  |  | 10,746,536
Other assets, net |  | 1,599,055 |  |  | 12,415
Total Assets | $ | 180,916,237 |  | $ | 185,131,993
____________ |  |  |  |  |
(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.
| Nine Months Ended September 30,
| 2013 |  | 2012
Capital Expenditures:(1) |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |
Acquisition of operating properties | $ | - |  | $ | 6,350,000
Capital expenditures and tenant improvements |  | 2,219,666 |  |  | 693,105
Residential Property: |  |  |  |  |
Acquisition of operating properties |  | 1,671,059 |  |  | 13,577,518
Retail Properties: |  |  |  |  |
Acquisition of operating properties |  | - |  |  | 1,125,000
Capital expenditures and tenant improvements |  | 45,000 |  |  | 158,005
Self Storage Properties: |  | 3,650,000 |  |  | -
Capital expenditures and tenant improvements |  | 22,141 |  |  | 20,964
Total acquisition of operating properties, net |  | 5,321,059 |  |  | 21,052,518
Total capital expenditures and tenant improvements |  | 2,286,807 |  |  | 872,074
Total additions to real estate assets | $ | 7,607,866 |  | $ | 21,924,592
(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 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 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 Reference 12: 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 13: 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 14: 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 15: 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 + Details
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