Fair Value of Financial Instruments

6 Months Ended

12 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Note 9 — Fair Value of Financial Instruments

As of June 30, 2014 and December 31, 2013, the Company believes the carrying values of cash and cash equivalents and receivables and payables from affiliates, accounts payable, accrued liabilities, distributions payable and mortgages payable approximate their fair values based on their highly-liquid nature and/or short-term maturities, including prepayment options. As of June 30, 2014, the carrying value and approximate fair value of the mortgages payables, as presented on the balance sheet, were $218.3 million and $219.7 million respectively. The fair value of mortgages payables is estimated based on the Company’s current interest rates (Level 3 inputs) for similar types of borrowing arrangements.

Note 9 — Fair Value Measurement Financial Instruments

As of December 31, 2013 and 2012, the Company believes the carrying values of cash and cash equivalents and receivables and payables from affiliates, accounts payable, accrued liabilities, distribution payable and notes payable approximate their fair values based on their highly-liquid nature and/or short-term maturities, including prepayment options. As of December 31, 2013, the carrying value and approximate fair value of the mortgage payables, as presented on the balance sheet, were $111.3 million and $111.0 million, respectively. The fair value of mortgage payables is estimated based on the Company’s current interest rates (Level 3 inputs) for similar types of borrowing arrangements. The only nonrecurring fair value measurements during the years ended December 31, 2013 and 2012 were in connection with the consolidation of previously unconsolidated properties, as discussed in Note 3, “Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests.”