Consolidated Balance Sheets (USD $)	Sep. 30, 2012	Dec. 31, 2011
ASSETS
Property and equipment, less accumulated depreciation	$ 352,016,194	$ 355,661,993
Cash and cash equivalents	3,068,846	3,192,785
Restricted deposits and funded reserves	6,407,888	3,397,991
Investment in unconsolidated affiliates	4,376,857	1,506,776
Due from related party	253,593	367,642
Receivables	2,568,596	2,629,452
Prepaid expenses	128,348	709,061
Notes receivable	226,869	1,807,159
Financing costs, less accumulated amortization of $ 1,373,885 in 2012 and $1,011,602 in 2011	2,050,648	2,359,556
Assets held for sale		449,734
Rent Incentive, less accumulated amortization of $291,667 in 2012 and $216,667 in 2011	1,208,333	1,283,333
Intangible assets, less accumulated amortization of $2,340,606 in 2012 and $1,660,688 in 2011	8,981,968	7,177,854
Other assets	141,429	724,229
Total assets	381,429,569	381,267,565
LIABILITIES
Mortgage notes payable	202,287,592	217,479,862
Notes payable	4,050,000	8,000,000
Special assessments payable	1,791,219	1,574,376
Dividends payable	3,335,785	2,945,560
Due to related party	143,074	66,734
Tenant security deposits payable	1,698,905	1,529,891
Investment certificates	1,371,898	1,443,899
Unfavorable leases, net	909,829	519,305
Accounts payable - trade	106,592	9,151
Liabilities related to assets held for sale		6,324
Fair value of interest rate swap	516,950	452,586
Deferred insurance proceeds	49,490	49,189
Accrued expenses	5,014,375	2,964,421
Total Liabilities	221,275,709	237,041,298
Commitments - Note 15
SHAREHOLDERS' EQUITY
Noncontrolling interest in operating partnership	108,792,104	108,542,389
Beneficial interest	51,878,706	36,136,464
Accumulated comprehensive loss	(516,950)	(452,586)
Total shareholders' equity	160,153,860	144,226,267
Total liabilities and shareholders' equity	$ 381,429,569	$ 381,267,565