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Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Real Estate Investment Property, Net [Abstract]    
Land $ 40,867,782 $ 40,422,812
Buildings and improvements 131,425,970 128,719,410
Tenant improvements 15,509,400 13,164,998
Lease Intangibles 9,380,711 9,793,814
Real estate assets and lease intangibles, cost 197,183,863 192,101,034
Accumulated depreciation and amortization (26,072,295) (23,011,006)
Real estate assets and lease intangibles, net 171,111,568 169,090,028
Real estate assets held for sale, net 0 29,107,675
Cash and cash equivalents 11,471,805 5,636,002
Restricted cash 8,956,326 4,086,498
Deferred leasing and finance costs, net 4,831,901 5,438,857
Goodwill 2,423,000 2,423,000
Other assets, net 6,370,127 4,842,878
TOTAL ASSETS 205,164,727 220,624,938
Liabilities:    
Mortgage notes payable [1] 108,615,615 106,966,774
Liabilities related to Assets Held for Sale 0 16,932,524
Accounts payable and accrued liabilities 5,926,568 6,631,804
Dividends payable 1,045,654 997,175
Below Market Rent 908,231 960,328
Total liabilities $ 133,096,068 $ 149,088,605
Commitments and contingencies    
Shareholders' equity:    
Additional paid-in capital $ 144,971,664 $ 143,715,876
Dividends in excess of accumulated losses (85,556,159) (83,150,866)
Total stockholders' equity before noncontrolling interest 59,585,617 60,733,884
Noncontrolling interest 12,483,042 10,802,449
Total equity 72,068,659 71,536,333
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 205,164,727 220,624,938
Redeemable Convertible Preferred Stock Series B [Member]    
Liabilities:    
Mandatorily redeemable Series B Preferred Stock, $0.01 par value, $1,000 liquidating preference; shares authorized: 40,000; shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively 16,600,000 16,600,000
Common Class A [Member]    
Shareholders' equity:    
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 16,941,250 and 16,887,377 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively $ 170,112 $ 168,874
[1] Each Model Home has a standalone mortgage note at interest rates ranging from 4.9% to 5.8% (at June 30, 2015).