Dividends and Distributions Payable

9 Months Ended

Sep. 30, 2013

Dividends and Distributions Payable [Abstract]

Dividends and Distributions Payable [Text Block]

8. Dividends and Distributions Payable

On September 10, 2013, the Company declared a dividend of $0.41 per common share for the quarter ended September 30, 2013. The holders of limited partnership interest in the Operating Partnership (“OP Units”) were entitled to an equal distribution per OP Unit held as of September 30, 2013. The dividend and distributions payable are recorded as liabilities in the Company’s consolidated balance sheet as of September 30, 2013. The dividend has been reflected as a reduction of stockholders’ equity and the distribution has been reflected as a reduction of the limited partners’ non-controlling interest. The amounts were paid on October 8, 2013.