| For the nine | ||||||||||||||||||||||||
| months ended | ||||||||||||||||||||||||
| September 30, | For the year ended | For the year ended | For the year ended | For the year ended | For the year ended | |||||||||||||||||||
| 2010 | December 31, 2009 | December 31, 2008 | December 31, 2007 | December 31, 2006 | December 31, 2005 | |||||||||||||||||||
Net income from continuing operations |
$ | 4,121,038 | $ | 4,399,948 | $ | 4,873,021 | $ | 5,958,214 | $ | 3,284,957 | $ | 3,436,149 | ||||||||||||
Add: fixed charges |
16,113,753 | 22,000,728 | 20,963,484 | 15,670,067 | 11,490,476 | 2,494,245 | ||||||||||||||||||
Less: preferred and senior common distributions |
(3,074,970 | ) | (4,093,750 | ) | (4,093,750 | ) | (4,093,750 | ) | (2,186,890 | ) | — | |||||||||||||
Earnings |
$ | 17,159,821 | $ | 22,306,926 | $ | 21,742,755 | $ | 17,534,531 | $ | 12,588,543 | $ | 5,930,394 | ||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest expense |
12,190,988 | 16,398,938 | 15,574,735 | 10,847,346 | 8,041,412 | 2,187,586 | ||||||||||||||||||
Amortization of deferred financing fees |
836,884 | 1,495,598 | 1,283,952 | 717,195 | 1,207,198 | 260,098 | ||||||||||||||||||
Estimated interest component of rent |
10,911 | 12,442 | 11,047 | 11,776 | 54,976 | 46,561 | ||||||||||||||||||
Preferred and senior common distributions |
3,074,970 | 4,093,750 | 4,093,750 | 4,093,750 | 2,186,890 | — | ||||||||||||||||||
Total fixed charges and preferred distributions |
16,113,753 | 22,000,728 | 20,963,484 | 15,670,067 | 11,490,476 | 2,494,245 | ||||||||||||||||||
Ratio of earnings to combined fixed charges
and preferred distributions |
1.1 | 1.0 | 1.0 | 1.1 | 1.1 | 2.4 | ||||||||||||||||||
45