Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Real estate investment properties, net	$ 64,890,721	$ 66,631,039
Assets held for sale	22,299,057	24,949,185
Lease intangibles, net	15,094,552	18,178,099
Cash and cash equivalents	7,195,462	10,282,179
Deferred rent	2,137,020	1,092,466
Restricted cash	1,861,266	1,877,461
Loan costs, net	522,749	647,468
Other assets	331,672	236,135
Total assets	114,332,499	123,894,032
Liabilities:
Mortgage notes payable	56,471,137	57,467,718
Liabilities held for sale	14,186,890	15,382,632
Unearned rent	705,831	823,343
Accounts payable and accrued expenses	617,364	573,440
Other liabilities	441,144	455,848
Real estate taxes payable	795,915	1,030,510
Due to related parties	148,518	222,676
Total liabilities	73,366,799	75,956,167
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.01 par value per share, authorized and unissued 200,000,000 shares
Common stock, $0.01 par value per share, 1,120,000,000 shares authorized, 8,419,689 shares issued and 8,257,410 shares outstanding	82,575	82,575
Capital in excess of par value	70,070,012	70,070,012
Accumulated distributions	(13,587,267)	(9,572,863)
Accumulated deficit	(15,345,818)	(13,191,862)
Accumulated other comprehensive (loss) income	(253,802)	550,003
Total stockholders' equity	40,965,700	47,937,865
Total liabilities and stockholders' equity	$ 114,332,499	$ 123,894,032