Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt as of September 30, 2016 consisted of the following: 

	September 30, 2016
			Due Within
	Total		One Year
Credit Facility	$	4,000,000	$	—
Mortgage Note Payable (originated with UBS)		7,300,000		—
Mortgage Note Payable (originated with Wells Fargo)		30,000,000		—
Mortgage Note Payable (originated with Wells Fargo)		25,000,000		—
4.50% Convertible Senior Notes due 2020, net of discount		70,593,625		—
Loan Costs, net of accumulated amortization		(1,339,869)		—
Total Long-Term Debt	$	135,553,756	$	—

Summary of Payments Applicable to Reduction of Principal Amounts

Payments applicable to reduction of principal amounts as of September 30, 2016 will be required as follows:

Year Ending December 31,	Amount
Remainder of 2016	$	—
2017		—
2018		11,300,000
2019		—
2020		75,000,000
2021		25,000,000
Thereafter		30,000,000
Total Long-Term Debt - Face Value	$	141,300,000

Summary of Carrying Value of Long-Term Debt

The carrying value of long-term debt as of September 30, 2016 consisted of the following:

	Total
Current Face Amount	$	141,300,000
Unamortized Discount on Convertible Debt		(4,406,375)
Loan Costs, net of accumulated amortization		(1,339,869)
Total Long-Term Debt	$	135,553,756