Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v2.4.1.9
Condensed Consolidated Statements of Operations (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
OPERATING REVENUES:    
Rental revenue $ 2,622,327us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 1,495,636us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Tenant recovery revenue 3,397us-gaap_TenantReimbursements  
Total operating revenues 2,625,724us-gaap_RealEstateRevenueNet 1,495,636us-gaap_RealEstateRevenueNet
OPERATING EXPENSES:    
Depreciation and amortization 791,632us-gaap_DepreciationDepletionAndAmortization 288,031us-gaap_DepreciationDepletionAndAmortization
Management fee 295,748us-gaap_ManagementFeeExpense [1] 240,964us-gaap_ManagementFeeExpense [1]
Administration fee 130,936land_AdministrationFee [1] 66,158land_AdministrationFee [1]
Professional fees 166,908us-gaap_ProfessionalFees 178,987us-gaap_ProfessionalFees
Acquisition-related expenses 170,680us-gaap_BusinessCombinationAcquisitionRelatedCosts 43,412us-gaap_BusinessCombinationAcquisitionRelatedCosts
Property operating expenses 205,766us-gaap_CostOfOtherPropertyOperatingExpense 65,585us-gaap_CostOfOtherPropertyOperatingExpense
General and administrative expenses 230,446us-gaap_GeneralAndAdministrativeExpense 217,315us-gaap_GeneralAndAdministrativeExpense
Operating expenses before credits from Adviser 1,992,116land_OperatingExpensesBeforeCreditToIncentiveFee 1,100,452land_OperatingExpensesBeforeCreditToIncentiveFee
Credits to fees from Adviser (320,905)land_RelatedPartyTransactionCreditFromVoluntaryIrrevocable [1]  
Total operating expenses, net of credits to fees 1,671,211land_OperatingExpensesNetOfCreditToIncentiveFee 1,100,452land_OperatingExpensesNetOfCreditToIncentiveFee
OPERATING INCOME 954,513us-gaap_OperatingIncomeLoss 395,184us-gaap_OperatingIncomeLoss
OTHER INCOME (EXPENSE):    
Other income 19,430us-gaap_OtherNonoperatingIncome 6,397us-gaap_OtherNonoperatingIncome
Interest expense (949,369)us-gaap_InterestExpense (374,040)us-gaap_InterestExpense
Total other expense (929,939)us-gaap_NonoperatingIncomeExpense (367,643)us-gaap_NonoperatingIncomeExpense
Net income before income taxes 24,574us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 27,541us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax provision   (6,623)us-gaap_IncomeTaxExpenseBenefit
NET INCOME $ 24,574us-gaap_NetIncomeLoss $ 20,918us-gaap_NetIncomeLoss
EARNINGS PER COMMON SHARE:    
Basic and diluted $ 0.00us-gaap_EarningsPerShareBasicAndDiluted $ 0.00us-gaap_EarningsPerShareBasicAndDiluted
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING - basic and diluted 7,753,717us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 6,530,264us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
[1] Refer to Note 4, "Related-Party Transactions," for additional information.