Notes Payable Related to Acquisitions and Revolving Credit Facility (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Debt Instrument [Line Items] |
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| Schedule Of Proceeds From Notes Payable [Table Text Block] |
A summary of the total proceeds received from notes payable related to acquisitions during the years ended December 31, 2016 and December 31, 2015, is as follows | | | December 31, 2016 | | December 31, 2015 | | | Plano Facility Financing | | $ | 9,223,500 | | $ | - | | | West Mifflin Facility Financing | | | - | | | 7,377,500 | | | Cantor Loan | | | 32,097,400 | | | - | | | Total Proceeds Received from Notes Payable Related to Acquisitions | | $ | 41,320,900 | | $ | 7,377,500 | |
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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 December, 2016 and December 31, 2015, is as follows: | | | December 31, 2016 | | December 31, 2015 | | | Notes payable related to acquisitions, gross | | $ | 39,474,900 | | $ | 23,788,065 | | | Less: Unamortized debt discount | | | (1,061,602) | | | (302,892) | | | Notes payable related to acquisitions, net | | $ | 38,413,298 | | $ | 23,485,173 | |
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| Schedule of Debt [Table Text Block] |
A rollforward of the unamortized debt discount balance as of December 31, 2016 is as follows: | Balance as of January 1, 2016, net | | $ | 302,892 | | | Additions Plano and Cantor financings | | | 1,090,078 | | | Write-off of Plano financing costs (a)(b)
| | | (53,280) | | | Debt discount amortization expense(b)
| | | (278,088) | | | Balance as of December 31, 2016, net | | $ | 1,061,602 | | | (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 year ended December 31, 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 year ended December 31, 2016 of $331,368. | A rollforward of the unamortized debt discount balance as of December 31, 2015 is as follows: | Balance as of January 1, 2015, net | | $ | 291,691 | | | Additions West Mifflin financing | | | 137,736 | | | Debt discount amortization expense | | | (126,535) | | | Balance as of December 31, 2015, net | | $ | 302,892 | |
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| Schedule Of Deferred Financing Costs [Table Text Block] |
A rollforward of the deferred financing cost balance as of December 31, 2016 is as follows: | Balance as of January 1, 2016, net | | $ | - | | | Additions revolving credit facility | | | 946,161 | | | Debt discount amortization expense | | | (19,076) | | | Balance as of December 31, 2015, net | | $ | 927,085 | |
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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 December 31, 2016, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows: | 2017 | | $ | - | | | 2018 | | | - | | | 2019 | | | - | | | 2020 | | | - | | | 2021 | | | - | | | 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 December 31, 2016, scheduled principal payments due for each fiscal year ended December 31 are listed below as follows: | 2017 | | $ | - | | | 2018 | | | 22,044 | | | 2019 | | | 136,007 | | | 2020 | | | 7,219,449 | | | Total | | $ | 7,377,500 | | |