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Consolidated Statements Of Cash Flow (unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 2,289,886 $ 1,127,404
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 8,881,130 6,649,818
Amortization of deferred financing costs and mortgage premiums, net 113,863 110,582
Straight-line rent adjustment (1,021,723) (959,388)
Amortization of above and below market rent (1,080,739) (748,257)
Amortization relating to stock based compensation 596,220 555,199
Provisions for tenant credit losses 312,348 382,608
Equity earned in earnings from unconsolidated joint ventures (231,194) (524,329)
Distribution of cumulative earnings from unconsolidated joint ventures   234,000
Other 108,411  
Change in operating assets and liabilities    
Restricted cash (72,890) (361,907)
Tenant and other receivables (208,501) (248,680)
Prepaid expenses (1,853,371) (308,334)
Accounts payable and accrued expenses (2,704,999) (2,307,295)
Other asset and liabilities, net (714,820) 512,686
Net cash provided by operating activities 4,413,621 4,114,107
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (28,955,340) (36,471,938)
Investments in mortgage notes receivables (294,000)  
Investments in unconsolidated joint ventures   (735,000)
Return of capital from unconsolidated joint ventures   617,500
Improvements to properties (3,093,770) (1,603,327)
Deposits on real estate acquisitions (2,000,000) (500,000)
Construction escrows and other (106,115) (110,364)
Net cash used in investing activities (34,449,225) (38,803,129)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayment on mortgages (365,198) (263,089)
Proceeds from the draw on term loan/credit facility 32,000,000 15,000,000
Payments on credit facility (133,000,000)  
Proceeds from exercise of warrants 154,869,414  
Payments to acquire warrants (10,687,500)  
Proceeds from the sale of stock   2,556,422
Deferred financing and other costs (108,038) (130,986)
Registration expenditures (25,305) (97,915)
Dividends paid to common shareholders (9,896,866) (5,954,011)
Repurchase of common stock (280,974)  
Retirement of options (268,550)  
Net cash provided by financing activities 32,236,983 11,110,421
Net increase (decrease) in cash and cash equivalents 2,201,379 (23,578,601)
Cash and cash equivalents at beginning of period 4,692,230 34,317,588
Cash and cash equivalents at end of period 6,893,609 10,738,987
Other non-cash investing and financing activities:    
Assumed mortgage at fair value 9,670,900  
Intangible lease liabilities 1,056,997 1,235,988
Proceeds receivable from exercise of warrants 600,000  
Accrued real estate improvement costs   $ 106,659