Mortgages Payable (Tables)

3 Months Ended

Mar. 31, 2015

Mortgages Payable [Abstract]

Schedule of Maturities of Long-term Debt [Table Text Block]

The Company’s aggregate borrowings as of March 31, 2015 contractually mature over the next five years and thereafter as follows: 

2015	$	84,172,098
2016	24,872,528
2017	143,627,104
2018	1,217,740
2019	125,418,023
Thereafter	—
Total	$	379,307,493

The Company’s mortgages payable as of March 31, 2015 contractually mature over the next five years and thereafter as follows:

2015	$	9,130,349
2016	24,265,268
2017	13,581,274
2018	3,968,570
2019	25,499,990
Thereafter	—
Total	$	76,445,451