Proforma Financial Information (Unaudited)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Proforma Financial Information (Unaudited)

NOTE 12 – PROFORMA FINANCIAL INFORMATION (UNAUDITED)

The following unaudited pro forma condensed financial information reflects the acquisitions during 2016 and through September 30, 2017. 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 this period assuming that the acquisitions had occurred as of the first day of the applicable period, 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.

	Three Months Ended						Nine Months Ended
	9/30/17			9/30/16			9/30/17			9/30/16
Rental and Related Income	$	25,855,000		$	24,502,000		$	76,009,000		$	71,594,000
Community Operating Expenses		12,318,000			11,441,000			35,833,000			34,206,000
Net Loss Attributable to Common Shareholders		(5,179,000	)		(628,000	)		(6,888,000	)		(2,261,000	)
Net Loss Attributable to Common Shareholders Per Share – Basic and Diluted	$	(0.15	)	$	(0.02	)	$	(0.22	)	$	(0.08	)