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Real Estate Held For Sale and Discontinued Operations
 6 Months Ended
Jun. 30, 2015
Real Estate Held For Sale and Discontinued Operations [Abstract]  
Real Estate Held For Sale and Discontinued Operations [Text Block]

6. REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS

Discontinued operations for the three and six months ended June 30, 2015 and year ended December 31, 2014 include the operations of its Sparky’s Self-Storage Portfolio located in Southern California. The following summary presents the major components of real estate held for sale and liabilities related to real estate held for sale as of June 30, 2015 and December 31, 2014:

June 30,December 31,
20152014
Real estate assets$-$32,637,520
Less: accumulated depreciation-(3,529,845)
Real estate assets, net-29,107,675
Other assets-895,831
Total assets$-$30,003,506
Mortgage notes payable$-$16,923,524
Other liabilities-499,955
Total liabilities$-$17,423,479

The following table summarizes certain revenue and expenses related to these properties for the three and six months ended June 30, 2015 and 2014:

Three months ended June 30,Six months ended June 30,
2015201420152014
Rental revenues $150,564$761,768$940,048$1,545,475
Fee and other income8,72587,323112,218164,203
Rental operating expenses(114,871)(387,538)(595,832)(794,295)
Depreciation-(166,394)(165,646)(333,663)
Interest expense(206,097)(221,151)(422,163)(442,030)
Gain on sale of real estate4,730,398(156,651)4,730,398(156,651)
Discontinued operations before non-controlling interests$4,568,719$(82,643)$4,599,023$(16,961)