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Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Assets:    
Land $ 7,281,349 $ 7,281,349
Building and improvements, less accumulated depreciation of $6,248,717 and $5,740,531 as of March 31, 2012 and December 31, 2011, respectively 40,480,231 40,543,466
Intangible lease assets, less accumulated amortization of $2,136,799 and $2,021,328 as of March 31, 2012 and December 31, 2011, respectively 1,155,554 1,271,025
Construction in progress 0 160,940
Total real estate assets 48,917,134 49,256,780
Cash and cash equivalents 2,929,572 2,963,396
Tenant receivables 2,600,931 2,593,389
Other assets 1,373,609 1,688,101
Deferred financing costs, less accumulated amortization of $517,382 and $413,874 as of March 31, 2012 and December 31, 2011, respectively 724,555 828,063
Intangible lease origination costs, less accumulated amortization of $1,821,014 and $1,723,048 as of March 31, 2012 and December 31, 2011, respectively 798,295 896,261
Deferred leasing costs, less accumulated amortization of $656,746 and $599,672 as of March 31, 2012 and December 31, 2011, respectively 2,254,168 2,349,390
Total assets 59,598,264 60,575,380
Liabilities:    
Note payable 19,237,786 19,237,786
Accounts payable, accrued expenses and accrued capital expenditures 1,235,020 1,540,206
Due to affiliates 55,187 39,224
Deferred income 523,087 491,706
Intangible lease liabilities, less accumulated amortization of $255,139 and $241,923 as of March 31, 2012 and December 31, 2011, respectively 131,333 144,549
Total liabilities 21,182,413 21,453,471
Commitments and Contingencies      
Members' Capital:    
Member Shares, $1,000 par value; 150,000 shares authorized; 51,854 shares issued and outstanding 38,415,851 39,121,909
Total liabilities and members’ capital $ 59,598,264 $ 60,575,380