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Business Development and Other Significant Transactions (Tables)
12 Months Ended
Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Allocated Purchase Price
The allocation for the assets acquired is as follows:
 
 
Hutchinson
 
Clinton Place
Purchase Price
 
$
4,250,000

 
$
3,300,000

Acquisition Costs
 
43,000

 
34,000

 
 
$
4,293,000

 
$
3,334,000

 
 
 
 
 
Allocation:
 
 
 
 
Buildings
 
$
3,443,000

 
$
2,898,000

Land
 
365,000

 
267,000

Furniture, Fixtures and Equipment
 
485,000

 
169,000

 
 
$
4,293,000

 
$
3,334,000

The allocation of the purchase price to the net assets acquired is as follows:
 
 
Park Place
Purchase Price
 
$
8,750,000

Gain on bargain purchase
 
925,000

 
 
$
9,675,000

 
 
 
Allocation:
 
 
Building
 
$
8,435,000

Land
 
760,000

Land Improvements
 
145,000

Furniture, Fixtures and Equipment
 
335,000

 
 
$
9,675,000