Pro Forma Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Pro Forma Financial Information (Unaudited) [Abstract]

PRO FORMA FINANCIAL INFORMATION (UNAUDITED)

NOTE 17 – PRO FORMA FINANCIAL INFORMATION (UNAUDITED)

The following unaudited pro forma condensed financial information reflects the 2013 and 2012 acquisitions that have closed.  This information has been prepared utilizing the historical financial statements of the Company and the effect of additional revenue and expenses from the properties acquired during 2013 and 2012 assuming that the acquisitions had occurred as of January 1, 2012, after giving effect to certain adjustments including (a) rental and related income; (b)  community operating expenses; (c) interest expense resulting from the assumed increase in mortgages and loans payable related to the new acquisitions and (d) depreciation expense related to the new acquisitions; (e) net income attributable to common shareholders have been reduced by preferred dividends related to the proceeds from capital raising used for property acquisitions.  The unaudited pro forma condensed financial information is not indicative of the results of operations that would have been achieved had the acquisitions reflected herein been consummated on the dates indicated or that will be achieved in the future.   

	For the years ended December 31,
	2013		2012
Rental and Related Income	$	56,640,000	$	54,528,000
Community Operating Expenses		30,759,000		12,198,000
Net Income Attributable to Common Shareholders		5,755,000		1,991,000
Net Income Attributable to Common Shareholders per Share:
Basic		0.31		0.12
Diluted		0.31		0.12