Acquired Below Market Lease Intangibles

12 Months Ended

Dec. 31, 2012

Intangible Liabilities Disclosure [Abstract]

ACQUIRED BELOW MARKET LEASE INTANGIBLES

ACQUIRED BELOW MARKET LEASE INTANGIBLES

Acquired below market lease intangibles consisted of the following:

		As of December 31,
		2012		2011
Acquired below market leases, net of accumulated amortization of $51,089 and
	$2,044, respectively (with a weighted average life of 19.5 and 20.6 years, respectively)	$	902,350	$	951,395

During the years ended December 31, 2012 and 2011, $49,000 and $2,000, respectively, were recorded as an increase to rental and other property income resulting from the amortization of the intangible lease liability.

As of December 31, 2012, the estimated amortization of the intangible lease liability for each of the five succeeding fiscal years is as follows:

	Amortization of
Year ending December 31,	Below Market Leases
2013	$	49,045
2014	$	49,045
2015	$	49,045
2016	$	49,045
2017	$	49,045