Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following:

	December 31, 2015
	Total		Due Within One Year
Credit Facility	$	38,300,000	$	—
Mortgage Note Payable (originated with UBS)		7,300,000		—
Mortgage Note Payable (originated with BOA)		23,100,000		—
Mortgage Note Payable (originated with Wells Fargo)		30,000,000		—
4.50% Convertible Senior Notes due 2020, net of discount		69,759,722		—
Total Long-Term Debt	$	168,459,722	$	—

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
2016	$	—
2017		—
2018		45,600,000
2019		—
2020		75,000,000
Thereafter		53,100,000
Total Long-Term Debt	$	173,700,000

Summary of Carrying Value of Long-Term Debt

The carrying value of long-term debt as of December 31, 2015 consisted of the following:

	Total
Current Face Amount	$	173,700,000
Unamortized Discount on Convertible Debt		(5,240,278	)
Total Long-Term Debt	$	168,459,722