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Segments (Tables) | 9 Months Ended
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Sep. 30, 2014
Segments [Abstract] |
Net Operating Income by Segment | The following tables reconcile the Company's segment activity to its results of operations and financial position as of September 30, 2014 and December 31, 2013 and for the three and nine months ended September 30, 2014 and 2013, respectively.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Industrial/Office Properties: |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  | $ | 3,122,423 |  |  | $ | 2,638,194 |  |  | $ | 8,368,703 |  |  | $ | 7,848,551 |
Property and related expenses |  |  | 1,277,080 |  |  |  | 963,919 |  |  |  | 3,418,279 |  |  |  | 2,764,489 |
Net operating income, as defined |  |  | 1,845,343 |  |  |  | 1,674,275 |  |  |  | 4,950,424 |  |  |  | 5,084,062 |
Residential Properties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  |  | 479,400 |  |  |  | 696,922 |  |  |  | 1,723,462 |  |  |  | 2,327,340 |
Property and related expenses |  |  | 18,212 |  |  |  | 25,722 |  |  |  | 63,055 |  |  |  | 178,556 |
Net operating income, as defined |  |  | 461,188 |  |  |  | 671,200 |  |  |  | 1,660,407 |  |  |  | 2,148,784 |
Retail Properties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  |  | 649,649 |  |  |  | 614,979 |  |  |  | 1,921,338 |  |  |  | 2,255,351 |
Property and related expenses |  |  | 228,010 |  |  |  | 234,942 |  |  |  | 657,814 |  |  |  | 622,246 |
Net operating income, as defined |  |  | 421,639 |  |  |  | 380,037 |  |  |  | 1,263,524 |  |  |  | 1,633,105 |
Self-Storage Properties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rental income |  |  | 833,648 |  |  |  | 839,272 |  |  |  | 2,543,326 |  |  |  | 2,383,990 |
Property and related expenses |  |  | 461,503 |  |  |  | 466,697 |  |  |  | 1,255,798 |  |  |  | 1,276,518 |
Net operating income, as defined |  |  | 372,145 |  |  |  | 372,575 |  |  |  | 1,287,528 |  |  |  | 1,107,472 |
Reconciliation to Net Loss Available to Common Stockholders |
Reconciliation to Net Loss Available to Common Shareholders: |  |  |  |  |  |  |  |  |  |  |  |
Total net operating income, as defined, for reportable segments |  | $ | 3,100,318 |  |  | $ | 3,098,087 |  |  | $ | 9,161,883 |  |  | $ | 9,973,423 |
Unallocated other income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and other income |  |  | 15,418 |  |  |  | 16,609 |  |  |  | 75,577 |  |  |  | 108,304 |
Gain on sale of real estate |  |  | 1,221,680 |  |  |  | 169,460 |  |  |  | 2,426,004 |  |  |  | 1,026,371 |
Gain on dissolution of partnership assets |  |  | - |  |  |  | - |  |  |  | 302,831 |  |  |  | - |
General and administrative expenses |  |  | 1,200,536 |  |  |  | 1,166,374 |  |  |  | 3,889,185 |  |  |  | 3,606,963 |
Interest expense - mortgage notes payable |  |  | 1,344,698 |  |  |  | 1,247,604 |  |  |  | 3,985,783 |  |  |  | 3,800,959 |
Interest and amortization of issuance costs - Series B preferred stock |  |  | 353,014 |  |  |  | - |  |  |  | 353,014 |  |  |  | - |
Depreciation and amortization |  |  | 1,614,503 |  |  |  | 1,353,612 |  |  |  | 4,387,175 |  |  |  | 3,994,350 |
Asset impairments |  |  | 950,000 |  |  |  | 1,500,000 |  |  |  | 950,000 |  |  |  | 1,500,000 |
Net loss before noncontrolling interests |  |  | (1,125,335 | ) |  |  | (1,983,434 | ) |  |  | (1,598,862 | ) |  |  | (1,794,174 | )
Income attributable to noncontrolling interests |  |  | 726,222 |  |  |  | 327,550 |  |  |  | 1,709,127 |  |  |  | 875,264 |
Net loss |  | $ | (1,851,557 | ) |  | $ | (2,310,984 | ) |  | $ | (3,307,989 | ) |  | $ | (2,669,438 | )
Reconciliation of Assets by Segment to Total Assets |
|  | September 30, 2014 |  |  | December 31, 2013 |
Assets: |  |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |  |
Land, buildings and improvements, net (1) |  | $ | 96,745,749 |  |  | $ | 84,458,209 |
Total assets (2) |  |  | 102,289,988 |  |  |  | 89,813,764 |
Residential Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  |  | 14,480,114 |  |  |  | 23,093,296 |
Total assets (2) |  |  | 21,400,286 |  |  |  | 25,434,100 |
Retail Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  |  | 21,785,362 |  |  |  | 21,931,330 |
Total assets (2) |  |  | 23,046,831 |  |  |  | 23,354,122 |
Self-Storage Properties: |  |  |  |  |  |  |  |
Land, buildings and improvements, net (1) |  |  | 29,267,682 |  |  |  | 29,972,327 |
Total assets (2) |  |  | 30,040,789 |  |  |  | 31,028,008 |
Reconciliation to Total Assets: |  |  |  |  |  |  |  |
Total assets for reportable segments |  |  | 176,777,894 |  |  |  | 169,629,994 |
Other unallocated assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | 11,893,187 |  |  |  | 10,207,001 |
Other assets, net |  |  | 9,673,214 |  |  |  | 1,408,387 |
Total Assets |  | $ | 198,344,295 |  |  | $ | 181,245,382 |
____________ (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.
Reconciliation of Capital Expenditures by Segment to Total Real Estate Investments |
|  | Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |
Capital Expenditures:(1) |  |  |  |  |  |
Industrial/Office Properties: |  |  |  |  |  |
Acquisition of operating property |  | $ | 14,763,625 |  |  | $ | - |
Capital expenditures and tenant improvements |  |  | 1,506,010 |  |  |  | 2,219,666 |
Residential Property: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | 2,745,900 |  |  |  | 1,671,059 |
Retail Properties: |  |  |  |  |  |  |  |
Capital expenditures and tenant improvements |  |  | 402,799 |  |  |  | 45,000 |
Self-Storage Properties: |  |  |  |  |  |  |  |
Acquisition of operating properties |  |  | - |  |  |  | 3,650,000 |
Capital expenditures and tenant improvements |  |  | 69,560 |  |  |  | 22,141 |
Acquisition of operating properties |  |  | 17,509,525 |  |  |  | 5,321,059 |
Capital expenditures and tenant improvements |  |  | 1,978,375 |  |  |  | 2,286,807 |
Total real estate investments |  | $ | 19,487,900 |  |  | $ | 7,607,866 |
____________
(1) | Total consolidated capital expenditures are equal to the same amounts disclosed for total reportable segments.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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