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</LabelSeparator><Level>2</Level><ElementName>reit_ShelfRegistrationStatementAnd2013FollowOnOfferingTextBlock</ElementName><ElementPrefix>reit_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="From2013-01-01to2013-06-30" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p&gt;&lt;font style="font-size: x-small"&gt;&lt;b&gt;3. 2013 SHELF REGISTRATION STATEMENT AND 2013
FOLLOW-ON OFFERING &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p&gt;&lt;font style="font-size: x-small"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;u&gt;2013
Shelf Registration Statement &lt;/u&gt;- On June 21, 2013, we filed a universal shelf
registration statement on Form S-3 with the SEC, which was declared effective
on July 1, 2013. The 2013 Shelf Registration Statement allows us, from time to
time, to offer and sell up to $350 million of our debt and/or equity securities
over the next three years. After completion of our 2013 Follow-on Offering as
discussed below, we have approximately $287 million in our securities available
for future issuance under our 2013 Shelf Registration Statement. &lt;/font&gt;&lt;/p&gt;

&lt;p&gt;&lt;font style="font-size: x-small"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;u&gt;2013
Follow-on Offering&lt;/u&gt; - On July 19, 2013, we completed the sale of 3,450,000
shares of our common stock, including 450,000 shares of our common stock sold
pursuant to the exercise of an over-allotment option by the underwriters. The
2013 Follow-on Offering was completed pursuant to our 2013 Shelf Registration
Statement at an offering price to the public of $18.25 per share. We received
net proceeds of approximately $60.0 million after deducting the underwriters&amp;#146;
discounts and other offering expenses. The proceeds were used to repay
borrowings under our $75 Million Facility and are also expected to be used to
fund the future acquisition of Woodlake Square. See also Note 4 for a
discussion of our acquisitions and Note 8 for repayment of portions of our
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