XML 26 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (2,669,438) $ (1,381,250)
Adjustments to reconcile net loss to net cash    
Depreciation amortization and amortization of above market rents 4,057,956 3,660,692
Stock compensation 390,342 365,056
Gain on sale of real estate assets (1,026,371) (180,770)
Asset impairments 1,500,000  
Bad debt expense 49,908 63,078
Income attributable to noncontrolling interests 875,264 339,422
Other assets (124,080) (22,450)
Restricted cash (324,472) 127,142
IncreaseDecreaseInAccounts Payable And Accrued Liabilities 83,560 434,823
Net cash provided by (used in) operating activities 3,137,141 3,636,601
Cash flows from investing activities:    
Real estate acquisitions (5,321,059) (21,052,518)
Building and tenant improvements (2,286,807) (872,074)
Proceeds received sale of real estate assets 8,450,159 6,503,816
Net repayments of notes receivable 0 111,866
Net cash used in investing activities (127,268) (15,252,082)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 23,052,635 16,122,341
Repayment of mortgage notes payable (26,284,654) (4,076,843)
Deferred stock issuance costs 0 (18,895)
Contributions received (distributed) in excess of distributions 1,997,829 2,075,547
Repurchase of common stock (34,172) (15,660)
Repurchase of common stock - related parties 0 (155,904)
Dividends paid (3,527,122) (3,166,063)
Net cash provided by financing activities (5,145,227) 10,676,688
Net (decrease) increase in cash and cash equivalents (2,135,354) (938,793)
Cash and cash equivalents:    
Beginning of year 10,746,536 4,872,081
End of period 8,611,182 3,933,288
Supplemental Cash Flow Information [Abstract]    
Interest paid 3,857,943 3,128,998
Non-cash investing and financing activities:    
Reinvestment of cash dividend 2,010,605 3,036,195
Accrual of dividends payable 1,204,753 1,104,427
BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable $ 1,900,000