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Segments (Tables) | 3 Months Ended
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Mar. 31, 2015
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 and for the three months ended March 31, 2015 and 2014.
| Three Months Ended
| March 31,
| 2015 |  | 2014
Office/Industrial Properties: |  |  |  |  |
Rental income | $ | 4,008,818 |  | $ | 2,607,246
Property and related expenses |  | (1,580,965) |  |  | (1,039,090)
Net operating income, as defined |  | 2,427,853 |  |  | 1,568,156
Residential Properties: |  |  |  |  |
Rental income |  | 357,903 |  |  | 671,186
Property and related expenses |  | (11,238) |  |  | (6,735)
Net operating income, as defined |  | 346,665 |  |  | 664,451
Retail Properties: |  |  |  |  |
Rental income |  | 1,015,878 |  |  | 640,826
Property and related expenses |  | (347,385) |  |  | (214,732)
Net operating income, as defined |  | 668,493 |  |  | 426,094
Self-Storage Properties (discontinued operations): |  |  |  |  |
Rental income |  | 892,977 |  |  | 860,587
Property and related expenses |  | (862,674) |  |  | (794,905)
Net operating income, as defined |  | 30,303 |  |  | 65,682
Reconciliation to net (loss) income: |  |  |  |  |
Total net operating income, as defined, for reportable segments |  | 3,473,314 |  |  | 2,724,383
General and administrative expenses |  | (1,154,802) |  |  | (1,124,856)
Depreciation and amortization |  | (1,861,546) |  |  | (1,345,756)
Interest expense |  | (2,379,592) |  |  | (1,049,082)
Interest income |  | 14,604 |  |  | 18,369
Gain on sales of real estate and partnerships, net |  | 78,496 |  |  | 727,776
Net (loss) income | $ | (1,829,526) |  | $ | (49,166)
Reconciliation of Assets by Segment to Total Assets |
|  |  | March 31, |  | December 31,
|  |  | 2015 |  | 2014
Assets by Reportable Segment: |  |  |  |  |
Office/Industrial Properties: |  |  |  |  |
Land, buildings and improvements, net (1) | $ | 121,138,911 |  | $ | 122,351,316
Total assets (2) | $ | 130,059,818 |  | $ | 130,185,089
Residential Properties: |  |  |  |  |
Land, buildings and improvements, net (1) | $ | 12,603,823 |  | $ | 13,133,827
Total assets (2) | $ | 13,810,493 |  | $ | 13,588,922
Retail Properties: |  |  |  |  |
Land, buildings and improvements, net (1) | $ | 33,766,924 |  | $ | 33,141,294
Total assets (2) | $ | 36,805,479 |  | $ | 34,712,223
Self-Storage Properties (real estate held for sale): |  |  |  |  |
Land, buildings and improvements, net (1) | $ | 28,929,279 |  | $ | 29,107,675
Total assets (2) | $ | 29,898,476 |  | $ | 30,003,506
Reconciliation to Total Assets: |  |  |  |  |
Total assets for reportable segments | $ | 210,574,266 |  | $ | 208,489,740
Other unallocated assets: |  |  |  |  |
Cash and cash equivalents |  | 4,475,600 |  |  | 5,636,002
Other assets, net |  | 8,091,495 |  |  | 6,499,196
Total Assets | $ | 223,141,361 |  | $ | 220,624,938
(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 |
Capital Expenditures by Reportable Segment | Three Months Ended
| March 31,
| 2015 |  | 2014
Office/Industrial Properties: |  |  |  |  |
Capital expenditures and tenant improvements |  | 1,118,854 |  |  | 678,304
Residential Properties: |  |  |  |  |
Acquisition of operating properties |  | 3,756,740 |  |  | 1,781,300
Retail Properties: |  |  |  |  |
Capital expenditures and tenant improvements |  | 41,333 |  |  | 194,781
Self-Storage Properties (real estate held for sale): |  |  |  |  |
Capital expenditures and tenant improvements |  | 6,250 |  |  | 33,408
Totals: |  |  |  |  |
Acquisition of operating properties, net |  | 3,756,740 |  |  | 1,781,300
Capital expenditures and tenant improvements |  | 1,166,437 |  |  | 906,493
Total real estate investments | $ | 4,923,177 |  | $ | 2,687,793

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
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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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