Pro Forma Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2014

Pro Forma Financial Information (Unaudited) [Abstract]

PRO FORMA FINANCIAL INFORMATION (UNAUDITED)

NOTE 16 – PRO FORMA FINANCIAL INFORMATION (UNAUDITED)

The following unaudited pro forma condensed financial information reflects the 2014 and 2013 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 2014 and 2013 assuming that the acquisitions had occurred as of January 1, 2013, 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. 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,
	2014	2013
Rental and Related Income	$65,503,000	$61,715,000
Community Operating Expenses	34,882,000	35,079,000
Net Loss Attributable to Common Shareholders	(4,223,000)	(4,603,000)
Net Loss Attributable to Common Shareholders per Share:
Basic	(0.19)	(0.25)
Diluted	(0.19)	(0.24)