XML 23 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segments (Tables)
12 Months Ended
Dec. 31, 2014
Segments [Abstract]  
Schedule Of Segment Reporting Information By Segment And Reconciliation to Net Income Available to Common Stockholders [Table Text Block]
Year Ended December 31,
20142013
Industrial/Office Properties:
Rental income $11,800,819$10,448,256
Property and related expenses (4,769,364)(3,629,413)
Asset impairment(950,000)(2,000,000)
Net operating income, as defined 6,081,4554,818,843
Residential Properties:
Rental income 2,065,3272,995,612
Property and related expenses (102,082)(195,752)
Net operating income, as defined 1,963,2452,799,860
Retail Properties:
Rental income 2,607,7442,878,145
Property and related expenses (877,620)(861,327)
Net operating income, as defined 1,730,1242,016,818
Self-Storage Properties:
Rental income 3,428,5033,241,109
Property and related expenses (1,716,379)(1,695,933)
Net operating income, as defined 1,712,1241,545,176
Reconciliation to Net Loss:
Total net operating income, as defined, for reportable segments 11,486,94811,180,697
Unallocated other income (expense):
General and administrative expenses (5,555,449)(5,443,652)
Depreciation and amortization (6,049,385)(5,309,560)
Interest expense (6,478,976)(5,059,912)
Interest income85,806116,602
Gain on sales of real estate and partnerships, net5,120,6991,992,754
Gain on extinguishment of debt536,952-
Net loss (853,601)(2,523,071)
Reconciliation of Assets by Segment to Total Assets
As of December 31,
20142013
Assets:
Industrial/Office Properties:
Land, buildings and improvements, net (1) $122,351,316$85,234,171
Total assets (2) $130,185,089$90,589,726
Residential Property:
Land, buildings and improvements, net (1) $13,133,827$23,093,296
Total assets (2)$13,588,922$25,434,100
Retail Properties:
Land, buildings and improvements, net (1) $33,141,294$21,931,330
Total assets (2) $34,712,223$23,354,122
Self-Storage Properties:
Land, buildings and improvements, net (1) $29,107,675$121,390,988
Total assets (2) $30,003,506$31,028,008
Reconciliation to Total Assets:
Total assets for reportable segments $208,489,740$170,405,956
Other unallocated assets:
Cash and cash equivalents 5,636,00210,207,001
Other assets, net 6,499,1961,408,387
Total Assets $220,624,938$182,021,344
____________
(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
Year Ended December 31,
20142013
Capital Expenditures:(1)
Industrial/Office Properties:
Acquisition of operating properties $42,337,414$-
Capital expenditures and tenant improvements $2,123,438$2,758,787
Residential Property:
Acquisition of operating properties $5,726,700$4,189,389
Retail Properties:
Acquisition of operating properties $11,211,669$3,650,000
Capital expenditures and tenant improvements $359,473$70,235
Self Storage Properties:
Capital expenditures and tenant improvements $84,116$27,988
Totals:
Acquisition of operating properties, net $59,275,783$7,839,389
Capital expenditures and tenant improvements 2,567,0272,857,010
Total real estate investments $61,842,810$10,696,399

____________

(1) Total consolidated capital expenditures are equal to the same amounts disclosed for total reportable segments.