Long-Term Debt (Tables)

3 Months Ended

12 Months Ended

24 Months Ended

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013


	2014	2013
Revolving credit facility from Great Western Bank evidenced by a promissory note dated December 9, 2011. The revolving line of credit has a limit of $12.5 million with interest payable monthly. The facility bore interest at 4.95% per annum. On August 1, 2014, the maturity was extended to June 30, 2015, and the interest rate was lowered to 4.50%.	$7,885	$ 11,037

Mortgage loan payable to Great Western Bank evidenced by a promissory note dated December 9, 2011, in the amount of $7.5 million. The note bore interest at 6.00% per annum. Principal and interest payments are due in monthly installments with the outstanding principal and interest payable in full on the maturity date. On March 26, 2013, the maturity was extended to June 30, 2015, and the interest rate was lowered to 5.00%. This note was paid in full on January 15, 2015.	$ 1,425	$ 7,074

Mortgage loan payable to Great Western Bank evidenced by a promissory note dated May 5, 2009, in the amount of $10 million. The note bore interest at 6.00% per annum. Principal and interest payments are due in monthly installments with the outstanding principal and interest payable in full on the maturity date. On March 26, 2013, the maturity was extended to June 30, 2015, and the interest rate was lowered to 5.00%. The note was paid in full on May 6, 2014.	$0	$ 1,182

Mortgage loan payable to Citigroup Global Markets Realty Corp. evidenced by a promissory note dated November 7, 2005, in the amount of $14.8 million. The note bears interest at 5.97% per annum. Principal and interest payments are due in monthly installments with the outstanding principal and interest payable in full on November 11, 2015.	$ 11,869	$ 12,280

Mortgage loan payable to GE evidenced by a promissory note dated December 31, 2007, in the amount of $7.9 million. The note bears interest at three-month LIBOR plus 2.00% (reset monthly). Monthly installments of principal and interest are due until February 1, 2018 when the remaining principal balance is due. On March 16, 2009, the note was amended to increase the interest rate by 1.00%. It was further amended on November 9, 2009, to increase the interest rate by an additional 0.5%. On March 14, 2014, the loan was amended to convert the variable rate to fixed at 4.75% beginning on December 31, 2014.	$ 4,057	$ 4,321

Mortgage loan payable to GE evidenced by a promissory note dated August 18, 2006, in the amount of $17.9 million. On May 1, 2008, the Company converted the loan to a fixed rate equal to the seven-year weekly U.S. dollar interest rate swap plus 1.98%. Monthly installments of principal and interest are due until December 31, 2014 when the remaining principal balance is due. On March 16, 2009, the note was amended to increase the interest rate by 1.00%. It was further amended on November 9, 2009, to increase the interest rate by an additional 0.5%. On December 30, 2014, the maturity date was extended to March 2, 2015. On February 17, 2015, the maturity date was further extended to December 15, 2015.The rate as of December 31, 2014 was 7.17%.	$ 10,667	$ 15,510

Mortgage loan payable to GE evidenced by a promissory note dated January 5, 2007, in the amount of $15.6 million. On May 1, 2008, the Company converted the loan to a fixed rate equal to the seven-year weekly U.S. dollar interest rate swap plus 1.98%. Monthly installments of principal and interest are due until February 1, 2017 when the remaining principal balance was due. On March 16, 2009, the note was amended to increase the interest rate by 1.00%. It was further amended on November 9, 2009, to increase the interest rate by an additional 0.5%. The rate as of December 31, 2014 was 7.17%.	$ 11,335	$ 11,815

Mortgage loan payable to GE evidenced by a promissory note dated February 6, 2007, in the amount of $3.4 million. On May 1, 2008, the Company converted the loan to a fixed rate equal to the seven-year weekly U.S. dollar interest rate swap plus 1.98%. Monthly installments of principal and interest are due until December 31, 2014 when the remaining principal balance is due. On March 16, 2009, the note was amended to increase the interest rate by 1.00%. It was further amended on November 9, 2009, to increase the interest rate by an additional 0.5%. The loan was paid in full on August 21, 2014.	$ 0	$ 1,819

Mortgage loan payable to GE evidenced by a promissory note dated January 2, 2008, in the amount of $3.4 million. The note bears interest at the 90-day London Interbank Offered Rate plus a margin of 2.00% (reset monthly). Monthly installments of principal and interest are due until February 1, 2018 when the remaining principal balance is due. On March 16, 2009, the note was amended to increase the interest rate by 1.00%. It was further amended on November 9, 2009, to increase the interest rate by an additional 0.5%. The loan was paid in full on October 15, 2014.	$ 0	$ 2,934

Mortgage loan payable to GE evidenced by a promissory note dated January 31, 2008 in the amount of $2.5 million, dated January 31, 2008. The note bears interest at the 90-day London Interbank Offered Rate plus a margin of 2.56% (reset monthly). Monthly installments of principal and interest are due until February 1, 2018 when the remaining principal balance is due. On March 16, 2009, the note was amended to increase the interest rate by 1.00%. It was further amended on November 9, 2009, to increase the interest rate by an additional 0.5%. The loan was paid in full on June 6, 2014.	$ 0	$ 2,122

Mortgage loan payable to Elkhorn Valley Bank evidenced by a promissory note dated June 7, 2011, in the amount of $3.1 million. The note bears interest at 5.5%. Monthly principal and interest payments are due through maturity, with the balance of the loan payable on June 15, 2016.	$ 2,583	$ 2,759

Mortgage loan payable to Morgan Stanley Mortgage Capital Holdings, LLC evidenced by a promissory note dated November 2, 2012, in the amount of $30.6 million. The note bears interest at 5.83%. Monthly principal and interest payments are due through maturity, with the balance of the loan payable on December 1, 2017.	$ 28,630	$ 29,655

Mortgage loan payable to Cantor Commercial Real Estate Lending evidenced by a promissory note dated October 12, 2012, in the amount of $6.2 million. The note bears interest at 4.25%. Monthly principal and interest payments are due through maturity, with the balance of the loan payable on November 6, 2017.	$ 5,936	$ 6,041

Mortgage loan payable to First State Bank evidenced by a promissory note dated January 10, 2013, in the amount of $2.4 million. The note bears interest at 5.5%. Monthly interest payments are due until September 1, 2016, when the remaining principal balance is due. The loan was paid in full on June 23, 2014.	$ 0	$ 1,196

Mortgage loan payable to Middle Patent Capital, LLC evidenced by a promissory note dated December 6, 2013, in the amount of $8.3 million. The note bears interest at 12.5%. Monthly interest payments are due until June 2015, when the remaining principal balance is due.	$ 8,300	$ 8,300

Total Debt	$ 92,687	$ 118,045

Loan Specific Loan To Value Ratio



	December 31,		December 31,
GE Covenants	2014		2014
Loan-specific loan to value ratio	Requirement		Calculation
calculated as follows:	≤ 60.0%
Loan balance (A) / Value (B)
Loan balance (A)		$	26,059

Value (B)		$	43,790

Loan-specific loan to value ratio			59.5	%

Loan Specific Fixed Charge Coverage Ratio



	December 31,		December 31,
GE Covenants	2014		2014
Loan-specific fixed charge coverage ratio	Requirement		Calculation
calculated as follows: *	≥ 1.20:1
Adjusted EBITDA (A) / Fixed charges (B)
Net loss per financial statements		$	(16,259)
Net adjustments per loan agreement			20,854
Adjusted EBITDA per loan agreement (A)		$	4,595

Interest expense per financial statements -
continuing operations			7,177
Interest expense per financial statements -
discontinued operations			1,357
Total interest expense per financial statements		$	8,534

Net adjustments per loan agreement			(5,161)
Fixed charges per loan agreement (B)		$	3,373
Loan-specific fixed charge coverage ratio			1.36 : 1
* Calculations based on prior four quarters

Aggregate Annual Principal Payments On Debt Associated With Assets Held For Use And Held For Sale



	Held For Sale		Held For Use		TOTAL
2015	$	18,410	$	28,462	$	46,872
2016		0		2,124		2,124
2017		0		42,693		42,693
2018		0		998		998
2019		0		0		0
Thereafter		0		0		0
	$	18,410	$	74,277	$	92,687

Great Western Bank [Member]

Consolidated Debt Service Coverage Ratio



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Consolidated debt service coverage ratio	Requirement		Calculation
calculated as follows: *	≥1.05:1
Adjusted NOI (A) / Debt service (B)
Net loss per financial statements		$	(16,259)
Net adjustments per loan agreement			32,326
Adjusted NOI per loan agreement (A)		$	16,067

Interest expense per financial statements -
continuing operations			7,177
Interest expense per financial statements -
discontinued operations			1,357
Total interest expense per financial statements		$	8,534

Net adjustments per loan agreement			1,441
Debt service per loan agreement (B)		$	9,975

Consolidated debt service coverage ratio			1.61 : 1
* Calculations based on prior four quarters

Loan Specific Debt Service Coverage Ratio



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Loan-specific debt service coverage ratio	Requirement		Calculation
calculated as follows: *	≥1.20:1
Adjusted NOI (A) / Debt service (B)
Net loss per financial statements		$	(16,259)
Net adjustments per loan agreement			18,088
Adjusted NOI per loan agreement (A)		$	1,829

Interest expense per financial statements -
continuing operations			7,177
Interest expense per financial statements -
discontinued operations			1,357
Total interest expense per financial statements		$	8,534

Net adjustments per loan agreement			(7,459)
Debt service per loan agreement (B)		$	1,075

Loan-specific debt service coverage ratio			1.70 : 1
* Calculations based on prior four quarters

Consolidated Loan To Value Ratio



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Consolidated loan to value ratio	Requirement		Calculation
calculated as follows:	70.0%
Loan balance (A) / Value (B)
Loan balance (A)		$	92,687
Value (B)		$	195,646
Consolidated loan to value ratio			47.4	%

Loan Specific Loan To Value Ratio



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Loan-specific loan to value ratio	Requirement		Calculation
calculated as follows:	70.0%
Loan balance (A) / Value (B)
Loan balance (A)		$	9,311
Value (B)		$	26,063
Loan-specific loan to value ratio			35.7	%

Consolidated Leverage Ratio



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Consolidated leverage ratio	Requirement		Calculation
calculated as follows:	≤ 3.50
Total liabilities (A) / Tangible net worth (B)
Total liabilities per financial statements		$	119,691
Net adjustments per loan agreement			(20,337)
Total liabilities per loan agreement (A)		$	99,354

Total assets per financial statements		$	146,444

Total liabilities per financial statements		$	119,691
Net adjustments per loan agreement			(20,337)
Total liabilities per loan agreement		$	99,354

Tangible net worth per loan agreement (B)		$	47,090

Consolidated Leverage Ratio			2.11

Debt Instrument Covenant



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Consolidated debt service coverage ratio	Requirement		Calculation
calculated as follows: *	≥1.05:1
Adjusted NOI (A) / Debt service (B)
Net loss per financial statements		$	(16,259)
Net adjustments per loan agreement			32,326
Adjusted NOI per loan agreement (A)		$	16,067

Interest expense per financial statements -
continuing operations			7,177
Interest expense per financial statements -
discontinued operations			1,357
Total interest expense per financial statements		$	8,534

Net adjustments per loan agreement			1,441
Debt service per loan agreement (B)		$	9,975

Consolidated debt service coverage ratio			1.61 : 1
* Calculations based on prior four quarters



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Loan-specific debt service coverage ratio	Requirement		Calculation
calculated as follows: *	≥1.20:1
Adjusted NOI (A) / Debt service (B)
Net loss per financial statements		$	(16,259)
Net adjustments per loan agreement			18,088
Adjusted NOI per loan agreement (A)		$	1,829

Interest expense per financial statements -
continuing operations			7,177
Interest expense per financial statements -
discontinued operations			1,357
Total interest expense per financial statements		$	8,534

Net adjustments per loan agreement			(7,459)
Debt service per loan agreement (B)		$	1,075

Loan-specific debt service coverage ratio			1.70 : 1
* Calculations based on prior four quarters



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Consolidated loan to value ratio	Requirement		Calculation
calculated as follows:	70.0%
Loan balance (A) / Value (B)
Loan balance (A)		$	92,687
Value (B)		$	195,646
Consolidated loan to value ratio			47.4	%



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Loan-specific loan to value ratio	Requirement		Calculation
calculated as follows:	70.0%
Loan balance (A) / Value (B)
Loan balance (A)		$	9,311
Value (B)		$	26,063
Loan-specific loan to value ratio			35.7	%



	December 31,		December 31,
Great Western Bank Covenants	2014		2014
Consolidated leverage ratio	Requirement		Calculation
calculated as follows:	≤ 3.50
Total liabilities (A) / Tangible net worth (B)
Total liabilities per financial statements		$	119,691
Net adjustments per loan agreement			(20,337)
Total liabilities per loan agreement (A)		$	99,354

Total assets per financial statements		$	146,444

Total liabilities per financial statements		$	119,691
Net adjustments per loan agreement			(20,337)
Total liabilities per loan agreement		$	99,354

Tangible net worth per loan agreement (B)		$	47,090

Consolidated Leverage Ratio			2.11

GE [Member]

Debt Instrument Covenant



	December 31,		December 31,
GE Covenants	2014		2014
Loan-specific fixed charge coverage ratio	Requirement		Calculation
calculated as follows: *	≥ 1.20:1
Adjusted EBITDA (A) / Fixed charges (B)
Net loss per financial statements		$	(16,259)
Net adjustments per loan agreement			20,854
Adjusted EBITDA per loan agreement (A)		$	4,595

Interest expense per financial statements -
continuing operations			7,177
Interest expense per financial statements -
discontinued operations			1,357
Total interest expense per financial statements		$	8,534

Net adjustments per loan agreement			(5,161)
Fixed charges per loan agreement (B)		$	3,373
Loan-specific fixed charge coverage ratio			1.36 : 1
* Calculations based on prior four quarters



	December 31,		December 31,
GE Covenants	2014		2014
Loan-specific loan to value ratio	Requirement		Calculation
calculated as follows:	≤ 60.0%
Loan balance (A) / Value (B)
Loan balance (A)		$	26,059

Value (B)		$	43,790

Loan-specific loan to value ratio			59.5	%