Notes Payable Related to Acquisitions (Tables)
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9 Months Ended |
Sep. 30, 2016 |
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| Debt Instrument [Line Items] |
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| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
A detail of the impact of adopting ASU 2015-03 on the Company’s Notes Payable Related to Acquisitions, net of unamortized discount balances, as of September 30, 2016 and December 31, 2015, is as follows: | | | September 30, 2016 | | December 31, 2015 | | | Notes payable related to acquisitions, gross | | $ | 41,097,797 | | $ | 23,788,065 | | | Less: Unamortized debt discount | | | (1,177,522) | | | (302,892) | | | Notes payable related to acquisitions, net | | $ | 39,920,275 | | $ | 23,485,173 | |
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| Schedule of Debt [Table Text Block] |
A rollforward of the unamortized debt discount balance as of September 30, 2016 is as follows: | Balance as of January 1, 2016, net | | $ | 302,892 | | | Additions Plano and Cantor financings | | | 1,090,079 | | | Write-off of Plano financing costs (a)(b)
| | | (53,280) | | | Debt discount amortization expense(b)
| | | (162,169) | | | Balance as of September 30, 2016, net | | $ | 1,177,522 | | | (a) | As disclosed in Note 3 “Property Portfolio,” the Plano loan was refinanced with proceeds from the Cantor Loan and accordingly the Plano related deferred financing costs were written off during the nine months ended September 30, 2016 into the “Interest Expense” line item in the accompanying Consolidated Statements of Operations. | | (b) | Sum equals amortization expense incurred on the debt discount for the nine months ended September 30, 2016 of $215,449. |
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| Cantor Loan [Member] |
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| Debt Instrument [Line Items] |
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| Schedule of Maturities of Long-term Debt [Table Text Block] |
As of September 30, 2016, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows: | 2016 | | $ | - | | | 2017 | | | - | | | 2018 | | | - | | | 2019 | | | - | | | 2020 | | | - | | | Thereafter | | | 32,097,400 | | | Total | | $ | 32,097,400 | | |
| West Mifflin Note Payable [Member] |
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| Debt Instrument [Line Items] |
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| Schedule of Maturities of Long-term Debt [Table Text Block] |
As of September 30, 2016, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows: | 2016 | | $ | - | | | 2017 | | | - | | | 2018 | | | 22,044 | | | 2019 | | | 136,007 | | | 2020 | | | 7,219,449 | | | Total | | $ | 7,377,500 | | |
| Asheville Note Payable [Member] |
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| Debt Instrument [Line Items] |
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| Schedule of Maturities of Long-term Debt [Table Text Block] |
As of September 30, 2016, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows: | 2016 | | $ | 13,515 | | | 2017 | | | 1,609,382 | | | Total | | $ | 1,622,897 | | |