Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

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

The table below sets forth the Company’s fair value hierarchy for assets and liabilities measured or disclosed at fair value as of June 30, 2015.

Asset:	Level 1		Level 2		Level 3		Carrying Value
Interest rate swaps	$	-	$	91,561	$	-	$	91,561

Liability:	Level 1		Level 2		Level 3		Carrying Value
Interest rate swaps	$	-	$	2,591,506	$	-	$	2,591,506
Mortgage notes payable	$	-	$	-	$	109,294,924	$	102,996,683
Unsecured term loans	$	-	$	-	$	97,153,088	$	100,000,000
Senior unsecured notes	$	-	$	-	$	99,638,809	$	100,000,000
Revolving credit facility	$	-	$	15,000,000	$	-	$	15,000,000