CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Investment property
Land and improvements	$ 6,871	$ 7,140
Building and improvements	26,781	27,284
Furniture and fixtures	3,474	2,589
Construction in progress	1,257	323
Gross investment property	38,383	37,336
Less accumulated depreciation	(1,225)	(850)
Net investment property	37,158	36,486
Investments in unconsolidated affiliated entities	5,979	5,950
Cash and cash equivalents	10,161	8,152
Marketable securities, available for sale	8,113	8,144
Restricted escrows	1,619	2,799
Notes receivable from affiliate	2,340	2,340
Prepaid expenses and other assets	941	863
Total assets	66,311	64,734
Liabilities and Stockholders' Equity
Accounts payable and other accrued expenses	1,374	1,017
Margin loan	2,372	2,716
Mortgages payable	11,104	11,157
Due to sponsor	189	113
Distributions payable	874	860
Total liabilities	15,913	15,863
Commitments and contingencies (Note 11)
Company's stockholders' equity:
Preferred shares, $0.01 par value, 10,000 shares authorized, none issued and outstanding
Common stock, $0.01 par value; 100,000 shares authorized, 5,641 and 5,311 shares issued and outstanding in 2013 and 2012, respectively	56	53
Additional paid-in capital	44,205	41,652
Subscription receivable	(175)
Accumulated other comprehensive income	378	229
Accumulated (deficit)/surplus	(53)	939
Total Company stockholders' equity	44,411	42,873
Noncontrolling interests	5,987	5,998
Total Stockholders' Equity	50,398	48,871
Total Liabilities and Stockholders' Equity	$ 66,311	$ 64,734