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Subsequent Events | 6 Months Ended
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Jun. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | 12. SUBSEQUENT EVENTS On July 15, 2016, the Company sold the Havana/Parker Complex for $3.3 million and paid off the related mortgage notes payable totaling $2.5 million prior to the sale closing on June 29, 2016. On July 26, 2016, the Company redeemed 1,000 shares of its Series B preferred stock for $1,000,000. On August 2, 2016, the Company redeemed 1,000 shares of its Series B preferred stock for $1,000,000. As of August 3, 2016, the remaining outstanding share balance was 32,700. On August 1, 2016, the Company entered into a purchase and sale agreement to sell the Rangewood Medical Office Building for a purchase price of $2.3 million. The sale is expected to close during the fourth quarter of the 2016 fiscal year. On August 1, 2016 the Company entered into an agreement to refinance the mortgage on the Bismarck Office Building located in Bismarck, ND. The new principal balance on the loan will be $4.2M and it will mature on August 1, 2037. The loan’s interest rate will reset on the 85th and 169th months of the loan, the interest rate will be fixed at 4.02% per annum until the first interest rate reset date.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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