Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The table below sets forth the Company’s fair value hierarchy for liabilities measured or disclosed at fair value as of December 31, 2012.

Liability:	Level 1		Level 2		Level 3		Carrying Value
Interest rate swaps	$	-	$	1,337,998	$	-	$	1,337,998
Mortgages payable	$	-	$	-	$	119,581,000	$	117,376,142
Note payable	$	-	$	43,530,005	$	-	$	43,530,005

The table below sets forth the Company’s fair value hierarchy for liabilities measured or disclosed at fair value as of December 31, 2011.

Liability:	Level 1		Level 2		Level 3		Carrying Value
Interest rate swap	$	-	$	629,460	$	-	$	629,460
Mortgages payable	$	-	$	-	$	64,243,000	$	62,854,057
Variable rate debt	$	-	$	56,443,898	$	-	$	56,443,898

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The following table represents estimated aggregate amortization expense related to deferred expenses as of December 31, 2012.

Year Ending December 31,
2013	$	1,881,155
2014		1,795,619
2015		1,523,036
2016		1,399,528
2017		1,355,536
Thereafter		16,939,390
Total	$	24,894,264

Schedule of Dividends Payable [Table Text Block]

The Company declared dividends of $1.60, $1.60 and $2.04 per share during the years ended December 31, 2012, 2011, and 2010; the dividends have been reflected for federal income tax purposes as follows:

December 31,	2012		2011		2010
Ordinary income	$	1.20	$	1.57	$	1.84
Return of capital		.40		.03		.20
Total	$	1.60	$	1.60	$	2.04

Schedule of Earnings Per Share Reconciliation [Table Text Block]

The following is a reconciliation of the denominator of the basic net earnings per common share computation to the denominator of the diluted net earnings per common share computation for each of the periods presented:

	Year Ended December 31,
	2012		2011		2010
Weighted average number of common shares outstanding		11,321,498		9,854,285		9,322,509
Unvested restricted stock		250,180		216,920		166,850
Weighted average number of common shares outstanding used in basic earnings per share		11,071,318		9,637,365		9,155,659
Weighted average number of common shares outstanding used in basic earnings per share		11,071,318		9,637,365		9,155,659
Effect of dilutive securities:
Restricted stock		65,592		43,867		35,841
Weighted average number of common shares outstanding used in diluted earnings per share		11,136,910		9,681,232		9,191,500