Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following:

	December 31, 2016				December 31, 2015
			Due Within				Due Within
	Total		One Year		Total		One Year
Credit Facility	$	34,300,000	$	—	$	38,300,000	$	—
Mortgage Note Payable (originated with UBS)		7,300,000		—		7,300,000		—
Mortgage Note Payable (originated with BOA)		—		—		23,100,000		—
Mortgage Note Payable (originated with Wells Fargo)		30,000,000		—		30,000,000		—
Mortgage Note Payable (originated with Wells Fargo)		25,000,000		—		—		—
4.50% Convertible Senior Notes due 2020, net of discount		70,880,581		—		69,759,722		—
Loan Costs, net of accumulated amortization		(1,235,380)		—		(1,662,869)		—
Total Long-Term Debt	$	166,245,201	$	—	$	166,796,853	$	—

Summary of Payments Applicable to Reduction of Principal Amounts

Payments applicable to reduction of principal amounts will be required as follows:

Year Ending December 31,	Amount
2017		—
2018		41,600,000
2019		—
2020		75,000,000
2021		25,000,000
Thereafter		30,000,000
Total Long-Term Debt - Face Value	$	171,600,000

Summary of Carrying Value of Long-Term Debt

The carrying value of long-term debt as of December 31, 2016 consisted of the following:

	Total
Current Face Amount	$	171,600,000
Unamortized Discount on Convertible Debt		(4,119,419)
Loan Costs, net of accumulated amortization		(1,235,380)
Total Long-Term Debt	$	166,245,201