Declaration of Distributions

6 Months Ended

Jun. 30, 2012

Declaration of Distributions [Abstract]

Declaration of Distributions

8. Declaration of Distributions

On June 19, 2012, the Company’s board of directors declared distributions for the third quarter of 2012 in the amount of $0.00184426 per day per share on the outstanding shares of common stock (equivalent to an annual distribution rate of 6.75% assuming the share was purchased for $10) payable to stockholders of record at the close of business on each day during the period from July 1, 2012 through September 30, 2012. Such distributions payable to each stockholder of record during a month will be paid on such date of the following month as the Company’s Chief Executive Officer may determine.