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v2.4.0.8

Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013
Condensed Consolidated Statements of Operations (Unaudited) [Abstract] |  |  |  |
Rental income | $ 4,556,419 | $ 4,759,887 | $ 9,249,084 | $ 9,833,729
Fee and other income | 135,452 | 97,382 | 222,626 | 192,136
Total Revenues | 4,691,871 | 4,857,269 | 9,471,710 | 10,025,865
Costs and expenses: |  |  |  |
Rental operating costs | 1,742,830 | 1,623,937 | 3,410,145 | 3,185,873
General and administrative | 1,563,793 | 1,237,818 | 2,688,649 | 2,405,245
Depreciation and amortization | 1,426,916 | 1,325,534 | 2,772,673 | 2,640,738
Total costs and expenses | 4,733,539 | 4,187,289 | 8,871,467 | 8,231,856
(Loss) income from operations | (41,668) | 669,980 | 600,243 | 1,794,009
Other income (expense): |  |  |  |
Interest expense | (1,371,123) | (1,219,329) | (2,641,085) | (2,553,355)
Interest and other income | 41,790 | 70,439 | 60,159 | 91,695
Gain on sale of real estate | 779,379 | 410,258 | 1,204,324 | 856,911
Gain on dissolution of partnership assets | 0 | 0 | 302,831 | 0
Total other expense, net | (549,954) | (738,632) | (1,073,771) | (1,604,749)
Net (loss) income | (591,622) | (68,652) | (473,528) | 189,260
Income attributable to noncontrolling interests | 504,797 | 327,550 | 982,905 | 638,611
Net loss attributable to common stockholders | $ (1,096,419) | $ (396,202) | $ (1,456,433) | $ (449,351)
Loss per common share: |  |  |  |
Basic and diluted (in dollars per share) | $ (0.07) | $ (0.02) | $ (0.09) | $ (0.07)
Weighted average number of common shares outstanding - basic and diluted (in shares) | 16,831,217 | 15,986,632 | 16,768,211 | 15,316,875

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