Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table reconciles the components of basic and diluted net loss per common share (amounts in thousands, except share and per share amounts):

	For the Year Ended December 31,
	2015		2014

Net income (loss) from continuing operations attributable to common stockholders	$	635	$	(5,288)
Dividends on restricted stock expected to vest		(16)		(7)
Basic net income (loss) from continuing operations attributable to common stockholders	$	619	$	(5,295)
Basic net income from discontinued operations attributable to common stockholders	$	—	$	116

Weighted average common shares outstanding ⁽¹⁾		17,404,348		5,381,787

Potential dilutive shares ⁽²⁾		12,850		-
Weighted average common shares outstanding and potential dilutive shares ⁽³⁾		17,417,198		5,381,787
Income (loss) per common share, basic
Continuing operations	$	0.04	$	(0.98)
Discontinued operations	$	0.00	$	0.02
	$	0.04	$	(0.96)
Income (loss) per common share, diluted
Continuing operations	$	0.04	$	(0.98)
Discontinued operations	$	0.00	$	0.02
	$	0.04	$	(0.96)

⁽¹⁾

For 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding.

⁽²⁾

Excludes 5,280 shares of Class B common stock and 212,263 OP Units for the year ended December 31, 2014 related to non-vested restricted stock and OP Units, as the effect would be anti-dilutive.

⁽³⁾

For 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding.

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the status of the Company’s non-vested shares as of December 31, 2015, and 2014, is as follows (dollars in thousands):

Non-Vested shares	Shares ⁽¹⁾		Weighted average grant-date fair value ⁽¹⁾
Balance at January 1, 2014		6,593	$	150
Granted		—		—
Vested		(2,637)		(60)
Forfeited		—		—
Balance at December 31, 2014		3,956		90
Granted		15,000		197
Vested		(4,480)		(78)
Forfeited		—		—
Balance at December 31, 2015		14,476	$	209

⁽¹⁾ The number of shares and per share amounts for the prior period have been retroactively restated to reflect the two reverse stock splits of the Class B common stock discussed above.

Schedule of Distributions Made to Members or Limited Partners, by Distribution [Table Text Block]

Distributions paid for the year ended December 31, 2015 were as follows (amounts in thousands):

	Distributions
2015	Declared		Paid
First Quarter
Class A Common Stock	$	3,554	$	3,073
Class B-1 Common Stock		68		103
Class B-2 Common Stock		103		103
Class B-3 Common Stock		103		103
OP Units		82		82
LTIP Units		96		96
Total first quarter	$	4,006	$	3,560
Second Quarter
Class A Common Stock	$	4,852	$	4,236
Class B-2 Common Stock		103		103
Class B-3 Common Stock		103		103
OP Units		82		82
LTIP Units		110		104
Total second quarter	$	5,250	$	4,628
Third Quarter
Class A Common Stock	$	5,500	$	5,465
Class B-2 Common Stock		68		103
Class B-3 Common Stock		103		103
OP Units		82		82
LTIP Units		221		178
Total third quarter	$	5,974	$	5,931
Fourth Quarter
Class A Common Stock	$	5,568	$	5,568
Class B-3 Common Stock		103		103
Series A Preferred Stock		1,153		-
OP Units		84		82
LTIP Units		263		255
Total fourth quarter	$	7,171	$	6,008
Total year	$	22,401	$	20,127