XML 18 R48.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note and Mortgages Payable (Details Textual) (USD $)
12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
June 2014 [Member]
May 31, 2012
June 2014 [Member]
Mortgage Loans On Real Estate [Member]
Dec. 31, 2013
May 14 2017 [Member]
Jun. 30, 2012
May 14 2017 [Member]
Mortgage Loans On Real Estate [Member]
Jul. 31, 2012
June 2016 [Member]
Mortgage Loans On Real Estate [Member]
Dec. 31, 2013
April 4 2018 [Member]
Dec. 31, 2012
April 4 2018 [Member]
Mortgage Loans On Real Estate [Member]
Dec. 31, 2012
Jan 1 2013 [Member]
Mortgage Loans On Real Estate [Member]
Dec. 31, 2012
Jan 1 2013 [Member]
Mortgage Loans On Real Estate Non Recourse Two [Member]
Dec. 31, 2013
January 1 2023 [Member]
Dec. 31, 2013
January 2020 [Member]
Dec. 31, 2013
July 2026 [Member]
Dec. 31, 2013
February 2017 [Member]
Dec. 31, 2013
February 2020 [Member]
Dec. 31, 2013
June 11 2016 [Member]
Dec. 31, 2013
Notes Payable, Other Payables [Member]
Dec. 31, 2013
Letter of Credit [Member]
Dec. 31, 2013
Unsecured Term Loan [Member]
Note And Mortgages Payable [Line Items]                                          
Line of Credit Facility, Current Borrowing Capacity $ 85,000,000                                        
Line of Credit Facility, Maximum Borrowing Capacity 135,000,000                                        
Line of Credit Facility, Expiration Date Oct. 26, 2015                                        
Extension Options two one-year terms                                        
Line Of Credit Facility Extension Option Expiration Date October 2017                                        
Line of Credit Facility, Interest Rate Description interest at LIBOR plus a spread of 150 to 215 basis points, or the base rate, depending on the Companys leverage ratio           interest at LIBOR plus a spread of 170 basis points     interest rate of LIBOR plus 160 basis points which has been swapped to a fixed rate of 2.49%                      
Line of Credit Facility, Amount Outstanding 9,500,000                                        
Line Of Credit Facility Weighted Average Interest Rate 3.75%                                        
Line Of Credit Facility Available For Borrowing Subject To Customary Condition 75,500,000                                        
Debt Instrument, Face Amount                                         35,000,000
Debt Instrument, Maturity Date                   Apr. 04, 2018   Jan. 01, 2023                 Sep. 29, 2020
Debt Instrument, Interest Rate, Stated Percentage       5.08%                 3.60% 6.90% 6.27% 6.63% 6.24% 6.56%     3.85%
Debt Instrument, Description of Variable Rate Basis                                         interest at LIBOR plus a spread of 165 to 225 basis points depending on the Companys leverage ratio
DebtInstrument Additional Borrowing Capacity Amount                                         35,000,000
Real Estate Investments, Net, Total 146,657,000                                        
Short-term Debt, Weighted Average Interest Rate 4.38% 4.43%                                      
Long-term Debt, Maturities, Repayments of Principal in Year Two 13,191,970 [1]                                     9,500,000  
Long-term Debt, Maturities, Repayments of Principal in Year Four 22,489,650 [2]                                   19,744,758    
Short Term Debt Percentage Bearing Fixed Interest Rate One             3.744%     2.49% 3.60%                    
Long-Term Debt, Gross     9,200,000   9,640,000   22,882,778                            
Debt Maturity Date         June 1, 2014     June 2016                          
Debt Stated Percentage         5.08%     6.56%                          
Mortgage Loans on Real Estate, Final Maturity Date             May 14, 2019                            
Short Term Debt Percentage Bearing Fixed Interest Rate Two             3.62%                            
Non-Recourse Debt                   25,000,000   23,640,000                  
Mortgage Loans on Real Estate, Number of Loans                   11   12                  
Percentage Of Mortgage Debt Secured By Limited Guaranty           50.00%                              
Debt Instrument, Periodic Payment, Principal       60,097   50,120               153,838 91,675 99,598 23,004 48,467      
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid       $ 9,167,573   $ 19,744,758                     $ 2,766,628 $ 8,580,000      
Interest Rate Swap Description           interest at 170 basis points over LIBOR, swapped to a fixed rate of 3.62%     interest only at LIBOR plus 160 basis points, swapped to a fixed rate of 2.49%                        
Line of Credit Facility, Number of Variable Rate Basis Points 150 to 215 basis points, or the base rate,                                        
Derivative, Number of Variable Rate Basis Points             170 basis points     160 basis points                      
[1] Scheduled maturities in 2015 include the $9,500,000 outstanding balance under the Credit Facility as of December 31, 2013. The Credit Facility matures on October 26, 2015, and may be extended at the Company’s election, for two one-year terms to October 2017, subject to certain conditions.
[2] Scheduled maturities in 2017 include $19,744,758 which represents the ending balance of a note payable due in 2017. The note matures May 14, 2017 and may be extended, at the Company’s election, for a two-year term to May 2019, subject to certain conditions.