| Land | |
| Buildings and improvements | |
| Furniture, fixtures and equipment | |
| Operating real estate assets, gross | |
| Less: accumulated depreciation | |
| Operating real estate assets | |
| Construction in progress and real estate under development | |
| Real estate assets held for sale | 4.28M |
| Net real estate assets | |
| CASH AND CASH EQUIVALENTS | 17.44M |
| RESTRICTED CASH | |
| DEFERRED FINANCING & LEASING COSTS - Net of accumulated amortization of $204,583 and $190,193 at June 30, 2011 and December 31, 2010, respectively | |
| LEASE INTANGIBLES - Net of accumulated amortization of $355,921 and $324,847 at June 30, 2011 and December 31, 2010, respectively | |
| OTHER ASSETS - Net | 181.47K |
| Total assets | 21.91M |
| Mortgage notes payable | |
| Land notes payable | |
| Accounts payable and accrued expenses | 578.99K |
| Due to affiliates | 213.36K |
| Security deposits and prepaid rents | |
| Total liabilities | 808.88K |
| COMMITMENTS AND CONTINGENCIES (Note 11) | 0 |
| NONCONTROLLING INTEREST - OPERATING PARTNERSHIP | 788.22K |
| Preferred shares, $.01 par value, 20,000,000 shares authorized, no shares issued and outstanding | 0 |
| Common shares, $.01 par value, 100,000,000 shares authorized, 10,357,831 and 10,349,065 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively | 205.37K |
| Additional paid-in capital | 44.46M |
| Treasury shares, at cost | -71.33K |
| Accumulated deficit | -24.29M |
| Total shareholders' equity | 20.31M |
| Total Liabilities and Shareholders' Equity | 21.91M |