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Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash Flows from Operating Activities:    
Net income (loss) $ 4,546,682 $ (1,730,072)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain on disposition (5,634,101) 0
Depreciation 798,614 897,363
Amortization of deferred financing costs 207,016 206,859
Other amortization 557,512 563,949
Changes in assets and liabilities:    
Increase in tenant receivables (80,889) (436,762)
Decrease in other assets 1,286,785 1,524,926
(Decrease) increase in accounts payable and accrued expenses (887,574) 119,323
Increase in due to affiliates 9,429 5,365
Decrease in deferred income (281,901) (173,556)
Net cash provided by operating activities 521,573 977,395
Cash Flows from Investing Activities:    
Net proceeds from sale of real estate assets 30,456,527 0
Investment in real estate (639,208) 0
Due from other assets for investing activities 0 (57,831)
Net cash provided by (used in) investing activities 29,817,319 (57,831)
Cash Flows from Financing Activities:    
Deferred financing costs paid (192,378) (150,320)
Proceeds from note payable 0 237,786
Repayments of note payable (19,237,786) 0
Distributions paid to members (7,000,000) 0
Net cash (used in) provided by financing activities (26,430,164) 87,466
Net Increase in Cash and Cash Equivalents 3,908,728 1,007,030
Cash and Cash Equivalents, beginning of period 2,963,396 2,153,542
Cash and Cash Equivalents, end of period 6,872,124 3,160,572
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Investment in real estate funded with deposit accounts included in other assets 0 372,372
Payment of deferred leasing costs funded with deposit accounts included in other assets 0 59,002
Accrued capital expenditures 4,947 11,400
Accrued deferred financing costs 0 2,378
Accrued deferred leasing costs $ 0 $ 7,431