10-Q Filing

AGREE REALTY CORP CIK: 917251 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-061414`
Period End Date	20110930
Filing Date	20111104
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	adc-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 103 Income Statement 99 Cash Flow Statement 70 Stockholders Equity 8

Balance Sheet 103 line items

Line Item	Tag	Value	Unit	Period
Accounts Receivable - Tenants, allowance	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Accounts Receivable - Tenants, allowance	`AllowanceForDoubtfulAccountsReceivable`	$35.00K	USD	Point-in-time
Financing costs, accumulated amortization	`AccumulatedAmortizationDeferredFinanceCosts`	$5.39M	USD	Point-in-time
Financing costs, accumulated amortization	`AccumulatedAmortizationDeferredFinanceCosts`	$5.58M	USD	Point-in-time
Leasing costs, accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$1.18M	USD	Point-in-time
Leasing costs, accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$934.40K	USD	Point-in-time
Land	`Land`	$103.69M	USD	Point-in-time
Land	`Land`	$106.70M	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$225.80M	USD	Point-in-time
Lease intangibles costs, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$50.48K	USD	Point-in-time
Buildings	`InvestmentBuildingAndBuildingImprovements`	$227.65M	USD	Point-in-time
Lease intangibles costs, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$429.37K	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$66.11M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Less accumulated depreciation	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$70.61M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment, Net, Total	`PropertyPlantAndEquipmentNet`	$261.88M	USD	Point-in-time
Property, Plant and Equipment, Net, Total	`PropertyPlantAndEquipmentNet`	$265.23M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	13.35M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.85M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$420.52K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.76M	shares	Point-in-time
Property under development	`DevelopmentInProcess`	$359.30K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.85M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.76M	shares	Point-in-time
Property held for sale, net	`RealEstateHeldforsale`	$6.52M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$262.30M	USD	Point-in-time
Net Real Estate Investments	`RealEstateInvestmentPropertyNet`	$272.11M	USD	Point-in-time
Excess stock, par value	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, par value	`ExcessStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Excess stock, shares authorized	`ExcessStockSharesAuthorized`	6.50M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$886.79K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$336.93K	USD	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 at September 30, 2011 and December 31, 2010	`AccountsReceivableNet`	$1.33M	USD	Point-in-time
Accounts Receivable - Tenants, net of allowance of $35,000 at September 30, 2011 and December 31, 2010	`AccountsReceivableNet`	$2.67M	USD	Point-in-time
Excess stock, shares issued	`ExcessStockSharesIssued`	0.00	shares	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Excess stock, shares outstanding	`ExcessStockSharesOutstanding`	0.00	shares	Point-in-time
Financing costs, net of accumulated amortization of $5,584,486 and $5,392,802 at September 30, 2011 and December 31, 2010, respectively	`DeferredFinanceCostsNet`	$1.01M	USD	Point-in-time
Financing costs, net of accumulated amortization of $5,584,486 and $5,392,802 at September 30, 2011 and December 31, 2010, respectively	`DeferredFinanceCostsNet`	$1.13M	USD	Point-in-time
Series A junior participating preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A junior participating preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,175,117 and $934,399 at September 30, 2011 and December 31, 2010, respectively	`DeferredCostsLeasingNet`	$812.29K	USD	Point-in-time
Leasing costs, net of accumulated amortization of $1,175,117 and $934,399 at September 30, 2011 and December 31, 2010, respectively	`DeferredCostsLeasingNet`	$722.17K	USD	Point-in-time
Series A junior participating preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Series A junior participating preferred stock, shares authorized	`PreferredStockSharesAuthorized`	150,000.00	shares	Point-in-time
Lease intangibles costs, net of accumulated amortization of $429,369 and $50,479 at September 30, 2011 and December 31, 2010 respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$13.53M	USD	Point-in-time
Series A junior participating preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Lease intangibles costs, net of accumulated amortization of $429,369 and $50,479 at September 30, 2011 and December 31, 2010 respectively	`FiniteLivedIntangibleAssetAcquiredInPlaceLeases`	$8.15M	USD	Point-in-time
Series A junior participating preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Series A junior participating preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Series A junior participating preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other Assets	`OtherAssets`	$911.80K	USD	Point-in-time
Other Assets	`OtherAssets`	$902.04K	USD	Point-in-time
Assets	`Assets`	$285.04M	USD	Point-in-time
Assets	`Assets`	$282.02M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$65.71M	USD	Point-in-time
Mortgages Payable	`SecuredDebt`	$71.53M	USD	Point-in-time
Notes Payable	`NotesPayable`	$28.38M	USD	Point-in-time
Notes Payable	`NotesPayable`	$43.38M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$4.07M	USD	Point-in-time
Dividends and Distributions Payable	`DividendsPayableCurrentAndNoncurrent`	$5.15M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$9.35M	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$2.51M	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$221.15K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrentAndNoncurrent`	$474.43K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$286.08K	USD	Point-in-time
Capital expenditures	`ConstructionPayableCurrentAndNoncurrent`	$54.32K	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.64M	USD	Point-in-time
Operating	`AccountsPayableCurrentAndNoncurrent`	$1.43M	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$759.20K	USD	Point-in-time
Interest Rate Swap	`InterestRateDerivativeLiabilitiesAtFairValue`	$793.21K	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilities`	$705.00K	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilities`	$705.00K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$80.40K	USD	Point-in-time
Tenant Deposits	`SecurityDepositLiability`	$93.23K	USD	Point-in-time
Total Liabilities	`Liabilities`	$119.39M	USD	Point-in-time
Total Liabilities	`Liabilities`	$117.91M	USD	Point-in-time
Common stock, $0.0001 par value; 13,350,000 shares authorized, 9,851,914 and 9,759,014 shares issued and outstanding, respectively	`CommonStockValue`	$976.00	USD	Point-in-time
Common stock, $0.0001 par value; 13,350,000 shares authorized, 9,851,914 and 9,759,014 shares issued and outstanding, respectively	`CommonStockValue`	$986.00	USD	Point-in-time
Excess stock, $0.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Excess stock, $0.0001 par value, 6,500,000 shares authorized, 0 shares issued and outstanding	`ExcessStock`	-	USD	Point-in-time
Series A junior participating preferred stock, $0.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Series A junior participating preferred stock, $0.0001 par value, 150,000 shares authorized, 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$179.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$180.75M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-20.09M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-14.70M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-764.74K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-731.88K	USD	Point-in-time
Total stockholders' equity-Agree Realty Corporation	`StockholdersEquity`	$159.93M	USD	Point-in-time
Total stockholders' equity-Agree Realty Corporation	`StockholdersEquity`	$164.24M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.89M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.70M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.63M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$285.04M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$282.02M	USD	Point-in-time

Income Statement 99 line items

Line Item	Tag	Value	Unit	Period
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$23.98M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$8.14M	USD	1 Quarter
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$31.62M	USD	3 Qtrs
Minimum rents	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$14.27M	USD	1 Quarter
Percentage rents	`PercentageRent`	$564.00	USD	1 Quarter
Percentage rents	`PercentageRent`	$21.97K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$20.84K	USD	3 Qtrs
Percentage rents	`PercentageRent`	$7.84K	USD	1 Quarter
Operating cost reimbursements	`TenantReimbursements`	$849.15K	USD	1 Quarter
Operating cost reimbursements	`TenantReimbursements`	$590.09K	USD	1 Quarter
Operating cost reimbursements	`TenantReimbursements`	$2.35M	USD	3 Qtrs
Operating cost reimbursements	`TenantReimbursements`	$1.90M	USD	3 Qtrs
Development fee income	`ConstructionRevenue`	$47.00K	USD	1 Quarter
Development fee income	`ConstructionRevenue`	$894.69K	USD	3 Qtrs
Development fee income	`ConstructionRevenue`	$582.90K	USD	3 Qtrs
Other income	`OtherIncome`	$111.68K	USD	3 Qtrs
Other income	`OtherIncome`	$28.09K	USD	1 Quarter
Other income	`OtherIncome`	$62.70K	USD	3 Qtrs
Other income	`OtherIncome`	$28.13K	USD	1 Quarter
Total Revenues	`Revenues`	$15.15M	USD	1 Quarter
Total Revenues	`Revenues`	$35.00M	USD	3 Qtrs
Total Revenues	`Revenues`	$8.81M	USD	1 Quarter
Total Revenues	`Revenues`	$26.55M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$870.57K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$455.38K	USD	1 Quarter
Real estate taxes	`RealEstateTaxExpense`	$2.28M	USD	3 Qtrs
Real estate taxes	`RealEstateTaxExpense`	$1.45M	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$396.90K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.19M	USD	3 Qtrs
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$377.78K	USD	1 Quarter
Property operating expenses	`DirectCostsOfLeasedAndRentedPropertyOrEquipment`	$1.12M	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$290.48K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$736.57K	USD	3 Qtrs
Land lease payments	`LeaseAndRentalExpense`	$96.83K	USD	1 Quarter
Land lease payments	`LeaseAndRentalExpense`	$254.70K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.60M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.06M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.16M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.18M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.91M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$13.50M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$13.50M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$10.65M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$26.91M	USD	3 Qtrs
Total Operating Expenses	`CostsAndExpenses`	$3.54M	USD	1 Quarter
Total Operating Expenses	`CostsAndExpenses`	$18.01M	USD	1 Quarter
Income (Loss) From Operations	`OperatingIncomeLoss`	$5.27M	USD	1 Quarter
Income (Loss) From Operations	`OperatingIncomeLoss`	$-2.86M	USD	1 Quarter
Income (Loss) From Operations	`OperatingIncomeLoss`	$15.90M	USD	3 Qtrs
Income (Loss) From Operations	`OperatingIncomeLoss`	$8.08M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$1.36M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$3.87M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$3.49M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$1.10M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	3 Qtrs
Income (Loss) Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.86M	USD	1 Quarter
Income (Loss) Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$12.41M	USD	3 Qtrs
Income (Loss) Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$4.18M	USD	1 Quarter
Income (Loss) Before Discontinued Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$6.58M	USD	3 Qtrs
Gain (loss) on sale of asset from discontinued operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$5.33M	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$1.20M	USD	3 Qtrs
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$365.40K	USD	1 Quarter
Income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$91.82K	USD	3 Qtrs
Net Income (Loss)	`ProfitLoss`	$6.67M	USD	3 Qtrs
Net Income (Loss)	`ProfitLoss`	$-1.86M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$18.94M	USD	3 Qtrs
Net Income (Loss)	`ProfitLoss`	$4.54M	USD	1 Quarter
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$228.63K	USD	3 Qtrs
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$691.41K	USD	3 Qtrs
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-61.82K	USD	1 Quarter
Less Net Income (Loss) Attributable to Non-Controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$148.96K	USD	1 Quarter
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$4.39M	USD	1 Quarter
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$6.44M	USD	3 Qtrs
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$18.25M	USD	3 Qtrs
Net Income (Loss) Attributable to Agree Realty Corporation	`NetIncomeLoss`	$-1.79M	USD	1 Quarter
Earnings Per Share - Basic	`EarningsPerShareBasic`	$2.03	USD	3 Qtrs
Earnings Per Share - Basic	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Earnings Per Share - Basic	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Earnings Per Share - Basic	`EarningsPerShareBasic`	$0.67	USD	3 Qtrs
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$2.02	USD	3 Qtrs
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$0.67	USD	3 Qtrs
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$0.46	USD	1 Quarter
Earnings Per Share - Dilutive	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.51	USD	1 Quarter
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$0.40	USD	1 Quarter
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$1.53	USD	3 Qtrs
Dividend Declared Per Share	`CommonStockDividendsPerShareDeclared`	$1.20	USD	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.00M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.58M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.63M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.64M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.03M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.67M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.62M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Dilutive	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.67M	shares	3 Qtrs

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Acquisition of real estate investments, capitalized interest	`InterestCapitalizedForRealEstateUnderDevelopment`	$288.48K	USD	3 Qtrs
Acquisition of real estate investments, capitalized interest	`InterestCapitalizedForRealEstateUnderDevelopment`	-	USD	3 Qtrs
Net income	`ProfitLoss`	$6.67M	USD	3 Qtrs
Net income	`ProfitLoss`	$-1.86M	USD	1 Quarter
Net income	`ProfitLoss`	$18.94M	USD	3 Qtrs
Net income	`ProfitLoss`	$4.54M	USD	1 Quarter
Depreciation	`Depreciation`	$4.54M	USD	3 Qtrs
Depreciation	`Depreciation`	$4.33M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$811.29K	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$266.26K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.04M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$864.00K	USD	3 Qtrs
Impairment charge	`AssetImpairmentCharges`	$13.50M	USD	1 Quarter
Impairment charge	`AssetImpairmentCharges`	$13.50M	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.36M	USD	3 Qtrs
Gain on sale of asset	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$5.33M	USD	3 Qtrs
(Increase) Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.34M	USD	3 Qtrs
(Increase) Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.19M	USD	3 Qtrs
(Increase) Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-81.06K	USD	3 Qtrs
(Increase) Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$728.23K	USD	3 Qtrs
(Increase) Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-705.14K	USD	3 Qtrs
(Increase) Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$205.45K	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-6.84M	USD	3 Qtrs
Decrease in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-517.16K	USD	3 Qtrs
Increase (Decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$253.28K	USD	3 Qtrs
Increase (Decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$785.00	USD	3 Qtrs
Increase (Decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$-13.48K	USD	3 Qtrs
Increase (Decrease) in tenant deposits	`IncreaseDecreaseInSecurityDeposits`	$12.83K	USD	3 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.58M	USD	3 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$18.30M	USD	3 Qtrs
Acquisition of real estate investments (including capitalized interest of $-0- in 2011 and $288,477 in 2010)	`PaymentsToAcquireProductiveAssets`	$20.53M	USD	3 Qtrs
Acquisition of real estate investments (including capitalized interest of $-0- in 2011 and $288,477 in 2010)	`PaymentsToAcquireProductiveAssets`	$21.05M	USD	3 Qtrs
Proceeds from sale of asset	`ProceedsFromSaleOfProductiveAssets`	$6.52M	USD	3 Qtrs
Proceeds from sale of asset	`ProceedsFromSaleOfProductiveAssets`	$9.76M	USD	3 Qtrs
Payments of leasing costs	`PaymentsToAcquireIntangibleAssets`	$87.80K	USD	3 Qtrs
Payments of leasing costs	`PaymentsToAcquireIntangibleAssets`	$150.60K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.15M	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.38M	USD	3 Qtrs
Proceeds from common stock offering	`ProceedsFromIssuanceOfCommonStock`	$31.07M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$3.46M	USD	3 Qtrs
Payments of mortgages payable	`RepaymentsOfSecuredDebt`	$2.99M	USD	3 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$13.90M	USD	3 Qtrs
Dividends and limited partners' distributions paid	`PaymentsOfCapitalDistribution`	$13.32M	USD	3 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$21.89M	USD	3 Qtrs
Line-of-credit borrowings	`ProceedsFromLinesOfCredit`	$45.11M	USD	3 Qtrs
Line-of-credit (repayments)	`RepaymentsOfLinesOfCredit`	$30.10M	USD	3 Qtrs
Line-of-credit (repayments)	`RepaymentsOfLinesOfCredit`	$42.99M	USD	3 Qtrs
Repayments of capital expenditure payables	`RepaymentsOfOtherDebt`	$286.08K	USD	3 Qtrs
Repayments of capital expenditure payables	`RepaymentsOfOtherDebt`	$352.43K	USD	3 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$649.00	USD	3 Qtrs
Payments of financing costs	`PaymentsOfFinancingCosts`	$70.78K	USD	3 Qtrs
Net Cash Used In Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.28M	USD	3 Qtrs
Net Cash Used In Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.13M	USD	3 Qtrs
Net Decrease In Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-351.74K	USD	3 Qtrs
Net Decrease In Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$293.51K	USD	3 Qtrs
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$886.79K	USD	Point-in-time
Cash and Cash Equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$336.93K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$593.28K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$688.67K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$886.79K	USD	Point-in-time
Cash and Cash Equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$336.93K	USD	Point-in-time
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$3.45M	USD	3 Qtrs
Cash paid for interest (net of amounts capitalized)	`InterestPaidNet`	$3.29M	USD	3 Qtrs
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$5.14M	USD	Point-in-time
Dividends and limited partners' distributions declared and unpaid	`DividendsPayableAmount`	$4.07M	USD	Point-in-time
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$54.32K	USD	3 Qtrs
Real estate investments financed with accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$975.80K	USD	3 Qtrs

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.63M	USD	Point-in-time
Net income for the period January 1, 2011 to September 30, 2011	`ProfitLoss`	$6.67M	USD	3 Qtrs
Net income for the period January 1, 2011 to September 30, 2011	`ProfitLoss`	$-1.86M	USD	1 Quarter
Net income for the period January 1, 2011 to September 30, 2011	`ProfitLoss`	$18.94M	USD	3 Qtrs
Net income for the period January 1, 2011 to September 30, 2011	`ProfitLoss`	$4.54M	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$167.13M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$162.63M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.