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Investments in Real Estate and Real Estate Under Construction (Tables)
 6 Months Ended
Jun. 30, 2011
Investments in Real Estate and Real Estate Under Construction [Abstract]  
Schedule of Acquired Properties [Table Text Block]
The Company acquired the following operating properties in separate transactions during the six months ended June 30, 2011:


 
 
 
 
 
 
 
 
 
Lease Intangibles
Property Type
Location
Acquisition Date
Initial Cost Basis
Lease Expiration
Land
 
Building and Improvements
 
Lease in-place Value
 
Customer Relationships Value
Industrial
Byhalia, MS
May 2011
$
27,492


03/2026
$
1,005


 
$
21,483


 
$
4,097


 
$
907


Office
Rock Hill, SC
May 2011
$
7,395


08/2021
$
551


 
$
4,313


 
$
1,853


 
$
678


Office (1)
Allen, TX
May 2011
$
36,304


03/2018
$
5,591


 
$
21,607


 
$
5,127


 
$
3,979


Industrial (2)
Shelby, NC
June 2011
$
23,470


05/2031
$
1,421


 
$
18,917


 
$
2,712


 
$
420


 
 
 
$
94,661


 
$
8,568


 
$
66,320


 
$
13,789


 
$
5,984


 
 
 
 
 
 
 
 
 
 
 
 
(1) The Company acquired the property from Net Lease Strategic Assets Fund L.P. pursuant to a purchase option.
(2) The Company funded the construction of the property commencing in 2010.
Schedule of Acquisition Development and Construction Arrangements Outstanding [Table Text Block]
As of June 30, 2011, the Company had the following acquisition, development and construction arrangements outstanding:
Location
Property Type
Square Feet
 
Maximum Loan Committment
 
Estimated Purchase Price
 
Lease Term (Years)
 
Estimated Completion Date
Saint Joseph, MO
Office
99,000


 
$
17,991


 
$
17,991


 
15
 
2Q 12
Huntington, WV
Office
70,000


 
$
11,826


 
$
13,000


 
15
 
4Q 11
Shreveport, LA
Industrial
257,000


 
$
2,520


 
$
13,064


 
10
 
2Q 12
 
 
426,000


 
$
32,337


 
$
44,055