Subsequent Events

12 Months Ended

Dec. 31, 2012

Subsequent Events

Subsequent Events

17. Subsequent Events

        We had the following events occur subsequent to the balance sheet date.

        We granted 20,000 shares of restricted common stock at $36.26 per share. These shares all vest on June 1, 2016. Additionally, we declared a monthly cash dividend of $0.155 per share on our common stock for the months of January, February and March 2013. The monthly cash dividends are payable on January 31, February 28 and March 28, 2013, respectively, to stockholders of record on January 23, February 20 and March 20, 2013, respectively.

        During January 2013, we borrowed $2,000,000 at an interest rate of LIBOR plus 1.25%. After this borrowing, we had $117,500,000 outstanding and $122,500,000 available for borrowing.

        In January and February of 2013, we funded $776,000 and $128,000, respectively, under a $10,600,000 mortgage and construction loan and we have a remaining commitment of $7,077,000. We also funded $2,484,000 and $488,000 in January and February of 2013, respectively, under investment commitments. See Note 6. Real Estate Investments for further discussion.