Derivative Instruments and Hedging Activity (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

The Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

	Number of Instruments				Notional
	December 31,		December 31,		December 31,		December 31,
Interest Rate Derivatives	2015		2014		2015		2014
Interest Rate Swap		4		4	$	145,740,838	$	146,398,078

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below presents the estimated fair value of the Company’s derivative financial instruments as well as their classification in the consolidated balance sheets.

	Asset Derivatives
	December 31, 2015			December 31, 2014
	Balance Sheet			Balance Sheet
	Location	Fair Value		Location	Fair Value
Derivatives designated as cash flow hedges:
Interest Rate Swaps	Other Assets	$	98,562	Other Assets	$	274,013

	Liability Derivatives
	December 31, 2015			December 31, 2014
	Balance Sheet			Balance Sheet
	Location	Fair Value		Location	Fair Value
Derivatives designated as cash flow hedges:
Interest Rate Swaps	Other Liabilities	$	3,301,108	Other Liabilities	$	2,383,308

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The table below presents the effect of the Company’s derivative financial instruments in the consolidated statements of operations and other comprehensive loss for the years ended December 31, 2015 and 2014.

Amount of Loss Recognized in Income on Derivative

Location of Loss

(Ineffective

Recognized In

Portion and

Income of

Amount

Location of

Derivative

Excluded from

Income/(Loss)

(Ineffective Portion

Effectiveness

Derivatives in

Reclassifed from

and Amount

Testing and

Cash Flow

Accumulated OCI

Amount of Income/(Loss) Reclassified

Excluded from

Missed

Hedging

Amount of Income/(Loss) Recognized

into Income

from Accumulated OCI into Expense

Effectiveness

Forecasted

Relationships

in OCI on Derivative (Effective Portion)

(Effective Portion)

(Effective Portion)

Testing)

Transactions)

2015

2014

2015

2014

2015

2014

Interest rate swaps

$

(1,093,251)

$

(2,583,832)

Interest Expense

$

(2,796,000)

$

(1,875,420)

$

-

$

-