Acquisition of Real Estate (Tables)

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Schedule of Purchase Prices Allocations [Table Text Block]

The following table summarizes the Company's preliminary allocations of the purchase prices of assets acquired and liabilities assumed during 2014 which have yet to be finalized:

	Preliminary Purchase Price Allocation
Land	$	16,252,000
Building		120,983,328
Building improvements		3,192,975
Land improvements		13,753,490
Furniture and fixtures		3,341,114
In-place leases		4,170,018
Total	$	161,692,925