Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.5.0.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Details of deferred costs, net of amortization and other assets
Details of these deferred costs, net of amortization, and other assets are as follows:
 
September 30, 2016
 
December 31, 2015
 
(unaudited)
 
 
Lease origination costs, net
$
1,144,027

 
$
1,376,652

Leases in place, net
21,965,889

 
19,091,917

Deposits
366,250

 
2,012,996

Legal and marketing costs, net
106,596

 
129,325

Tenant relationships, net
12,073,312

 
12,060,172

Other
442,920

 
588,464

Total Deferred Costs and Other Assets, net
$
36,098,994

 
$
35,259,526

Future amortization of lease origination costs, financing costs and in place leases
Future amortization of lease origination costs, leases in place, legal and marketing costs and tenant relationships is as follows (unaudited):
For the Periods Ending September 30,
Lease
Origination
Costs, net
 
Leases In
Place, net
 
Legal &
Marketing
Costs, net
 
Tenant
Relationships, net
2017
$
315,258

 
$
6,164,707

 
$
26,731

 
$
4,144,113

2018
239,900

 
4,675,925

 
21,281

 
2,940,058

2019
162,301

 
3,287,248

 
17,215

 
1,931,689

2020
113,862

 
2,158,958

 
13,214

 
1,129,893

2021
90,987

 
1,353,786

 
10,260

 
586,277

Thereafter
221,719

 
4,325,265

 
17,895

 
1,341,282

 
$
1,144,027

 
$
21,965,889

 
$
106,596

 
$
12,073,312

Corporate general and administrative expenses
Corporate General and Administrative Expense
    
A detail for the "corporate general & administrative" line item from the Condensed Consolidated Statements of Operations is presented below:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
2016
 
2015
 
2016
 
2015
 
 
(unaudited)
Acquisition and development costs
 
$
117,951

 
$
1,733,639

 
$
903,490

 
$
3,167,378

Professional fees
 
390,540

 
274,006

 
1,180,854

 
1,166,279

Compensation and benefits
 
392,008

 
620,749

 
2,439,977

 
2,361,664

Corporate administration
 
301,578

 
247,621

 
806,216

 
806,494

Equity, debt and refinancing costs
 
60,679

 
1,826,240

 
310,547

 
2,447,890

Travel
 
153,199

 
61,993

 
373,741

 
363,803

Advertising
 
23,002

 
44,376

 
175,887

 
152,338

Taxes and licenses
 
56,564

 
43,356

 
99,748

 
149,354

Total
 
$
1,495,521

 
$
4,851,980

 
$
6,290,460

 
$
10,615,200