Real Estate

12 Months Ended

Dec. 31, 2011

Real Estate

Real Estate Disclosure [Text Block]

Note 5 — Real Estate

       As of December 31, 2011 we owned 1 commercial property located in Richardson, Texas comprising approximately 201,000 square feet.

Property consisted of the following at December 31, 2011 and 2010 respectively:

	December 31,
	2011	2010
Land	$      4,787,500	$                  -
Building and improvements	10,706, 882	-
In-place lease value intangible	3,473,763	-
	$    18,968,145	$                  -
Less accumulated depreciation and amortization	(352,612)	-
Real estate assets, net	$    18,615,533	$                  -

       Depreciation expense for the year ended December 31, 2011 and 2010 was $87,880 and $0, respectively.  Amortization expense of in-place lease value intangible was $264,732 and $0 for the year ended, December 31, 2011 and 2010, respectively.

       Acquisition fees paid to Advisor were $430,875 and $47,875 and are included in asset management and acquisition fees of the Company’s consolidated statements of operations for the years ended December 31, 2011 and 2010, respectively.