Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

14. Subsequent Events

On July 31, 2013, the Company received a distribution from the Bank of America Portfolio joint venture in the amount of $2,000. The distribution was primarily derived from the Company’s pro-rata share of the net sales proceeds from unencumbered properties sold by the joint venture.

On August 1, 2013, the Company closed on the acquisition of a 42,000 square foot, multi-tenanted bank branch property located in Morristown, New Jersey in an all cash transaction for a purchase price of approximately $4,900. The property is 100% leased to Wells Fargo Bank, N.A. and US Bank, N.A. The Company is currently analyzing the fair value of the leases and real estate assets and accordingly, the purchase price allocation is preliminary and subject to change.

In July 2013, the Company received reimbursement for servicing advances, including accrued interest, in the amount of $4,745.