Real Estate Held for Investment

3 Months Ended

Mar. 31, 2013

Real Estate Disclosure [Text Block]

(3) Real Estate Held for Investment –

On February 23, 2012, the Company purchased a 53% interest in a Tractor Supply Company store in Starkville, Mississippi for $1,510,500. The Company allocated $257,767 of the purchase price to Acquired Intangible Lease Assets, representing in-place lease intangibles, and allocated $92,542 to Acquired Below-Market Lease Intangibles. The Company incurred $28,135 of acquisition expenses related to the purchase that were expensed. The property is leased to Tractor Supply Company under a Lease Agreement with a remaining primary term of 15 years (as of the date of purchase) and annual rent of $115,542 for the interest purchased. The remaining interest in the property was purchased by AEI Net Lease Income & Growth Fund XX Limited Partnership, an affiliate of the Company.