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SCHEDULE III – Real Estate Assets and Accumulated Depreciation (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Property
Dec. 31, 2011
Initial Costs to Company    
Land $ 12,765,587 [1],[2]  
Buildings And Improvements 16,893,217 [1],[2]  
Total Adjustment to Basis 180,446 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 29,839,250 [1],[2],[3],[4]  
Accumulated Depreciation 439,687 [1],[2],[5],[6]  
Number of single-tenant freestanding retail properties, owned 9  
Number of multi-tenant retail properties, owned 1  
Property Plant And Equipment Land And Real Estate Assets, Aggregate Cost Tax Basis 33,200,000  
Property, plant and equipment, land and real estate assets, net tax basis 32,700,000  
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]    
Balance, beginning of period 28,068,946 0
Additions    
Acquisitions 1,589,858 28,068,946
Improvements 180,446 0
Total additions 1,770,304 28,068,946
Deductions    
Cost of real estate sold 0 0
Total deductions 0 0
Balance, end of period 29,839,250 28,068,946
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]    
Balance, beginning of period 17,214 0
Additions    
Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired 419,439 17,214
Improvements - Depreciation Expense for Tenant Improvements & Building Equipment 3,034 0
Total additions 422,473 17,214
Deductions    
Cost of real estate sold 0 0
Total deductions 0 0
Balance, end of period 439,687 17,214
Line of credit
   
Initial Costs to Company    
Debt, Long-term and Short-term, Combined Amount 20,600,000  
Building [Member]
   
Initial Costs to Company    
Acquired real estate asset, useful life 40 years  
Advance Auto: | Macomb Township, MI
   
Initial Costs to Company    
Land 718,120 [1],[2]  
Buildings And Improvements 1,145,823 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 1,863,943 [1],[2],[3],[4]  
Accumulated Depreciation 32,256 [1],[2],[5],[6]  
CVS: | Austin, TX
   
Initial Costs to Company    
Land 1,416,853 [1],[2]  
Buildings And Improvements 1,579,318 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 2,996,171 [1],[2],[3],[4]  
Accumulated Depreciation 42,869 [1],[2],[5],[6]  
CVS: | Erie, PA
   
Initial Costs to Company    
Land 1,007,152 [1],[2]  
Buildings And Improvements 1,157,106 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 2,164,258 [1],[2],[3],[4]  
Accumulated Depreciation 30,936 [1],[2],[5],[6]  
CVS: | Mansfield, OH
   
Initial Costs to Company    
Land 269,662 [1],[2]  
Buildings And Improvements 1,690,964 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 1,960,626 [1],[2],[3],[4]  
Accumulated Depreciation 45,145 [1],[2],[5],[6]  
Dollar General: | Berwick, LA
   
Initial Costs to Company    
Land 141,433 [1],[2]  
Buildings And Improvements 1,448,425 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 1,589,858 [1],[2],[3],[4]  
Accumulated Depreciation 6,299 [1],[2],[5],[6]  
The Parke: | San Antonio, TX
   
Initial Costs to Company    
Land 6,911,678 [1],[2]  
Buildings And Improvements 148,057 [1],[2]  
Total Adjustment to Basis 170,820 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 7,230,555 [1],[2],[3],[4]  
Accumulated Depreciation 9,979 [1],[2],[5],[6]  
Tractor Supply: | Brunswick, GA
   
Initial Costs to Company    
Land 437,809 [1],[2]  
Buildings And Improvements 2,267,578 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 2,705,387 [1],[2],[3],[4]  
Accumulated Depreciation 68,087 [1],[2],[5],[6]  
Tractor Supply: | Lockhart, TX
   
Initial Costs to Company    
Land 464,318 [1],[2]  
Buildings And Improvements 2,046,158 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 2,510,476 [1],[2],[3],[4]  
Accumulated Depreciation 59,380 [1],[2],[5],[6]  
Walgreens: | Albuquerque, NM
   
Initial Costs to Company    
Land 789,017 [1],[2]  
Buildings And Improvements 1,609,069 [1],[2]  
Total Adjustment to Basis 9,626 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 2,407,712 [1],[2],[3],[4]  
Accumulated Depreciation 42,588 [1],[2],[5],[6]  
Walgreens: | Reidsville, NC
   
Initial Costs to Company    
Land 609,545 [1],[2]  
Buildings And Improvements 3,800,719 [1],[2]  
Total Adjustment to Basis 0 [1],[2]  
Gross Amount at Which Carried At December 31, 2012 4,410,264 [1],[2],[3],[4]  
Accumulated Depreciation $ 102,148 [1],[2],[5],[6]  
[1] As of December 31, 2012, the Company owned nine single tenant, freestanding retail properties and one multi-tenant retail property.
[2] Part of the Credit Facility’s Borrowing Base. As of December 31, 2012, the Company had $20.6 million outstanding under the Credit Facility.
[3] The aggregate cost for federal income tax purposes is approximately $33.2 million.
[4] The following is a reconciliation of total real estate carrying value for the years ended December 31, 2012 and December 31, 2011: Year Ended December 31, 2012 December 31, 2011Balance, beginning of period$28,068,946 $— Additions Acquisitions1,589,858 28,068,946 Improvements180,446 — Total additions1,770,304 28,068,946 Deductions Cost of real estate sold— — Total deductions— —Balance, end of period$29,839,250 $28,068,946
[5] The following is a reconciliation of accumulated depreciation for the years ended December 31, 2012 and December 31, 2011: Year Ended December 31, 2012 December 31, 2011Balance, beginning of period$17,214 $— Additions Acquisitions - Depreciation Expense for Building & Tenant Improvements Acquired419,439 17,214 Improvements - Depreciation Expense for Tenant Improvements & Building Equipment3,034 — Total additions422,473 17,214 Deductions Cost of real estate sold— — Total deductions— —Balance, end of period$439,687 $17,214
[6] The Company’s assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. Generally, tenant improvements are amortized over the respective lease term and buildings are depreciated over 40 years.