Annual report pursuant to Section 13 and 15(d)

Rental Revenue

v3.7.0.1
Rental Revenue
12 Months Ended
Dec. 31, 2016
Leases [Abstract]  
Operating Leases of Lessor Disclosure [Text Block]
Note 8 – Rental Revenue
 
The aggregate annual minimum cash to be received by the Company on the noncancelable operating leases related to its portfolio of facilities in effect as of December 31, 2016, are as follows for the subsequent years ended December 31; as listed below:
 
2017
 
$
15,177,903
 
2018
 
 
15,395,212
 
2019
 
 
15,716,511
 
2020
 
 
16,025,456
 
2021
 
 
13,881,629
 
Thereafter
 
 
78,717,957
 
Total
 
$
154,914,668
 
 
For the year ended December 31, 2016, the Omaha facility constituted approximately 21% of the Company’s rental revenue, the Plano facility constituted approximately 18% of rental revenue, the Tennessee facilities constituted approximately 17% of rental revenue, the West Mifflin facility constituted approximately 11% of rental revenue, the Melbourne facility constituted approximately 11% of rental revenue, the Reading facility constituted approximately 4% of rental revenue, and the Westland facilities constituted approximately 4% of rental revenue. The Asheville, East Orange, and Watertown facilities constituted approximately 3% of rental revenue each. The remaining 5% of rental revenue was derived from the other facilities in the Company’s portfolio.
 
The Omaha facility constituted approximately 80% of the Company’s rental revenue for the year ended December 31, 2015 and the West Mifflin and Asheville facilities constituted approximately 10% each.