Annual report pursuant to Section 13 and 15(d)

Subsequent Events

v2.4.0.6
Subsequent Events
 12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

On January 8, 2013, our Board of Directors declared the following monthly distributions:

 

                                         

Record Date

   Payment Date     Common Stock
Distributions per Share		     Series A Preferred
Distributions per Share		     Series B Preferred
Distributions per Share		     Series C Preferred
Distributions per Share		  

January 18, 2013

     January 31, 2013     $ 0.125     $ 0.1614583     $ 0.15625     $ 0.1484375  

February 15, 2013

     February 28, 2013       0.125       0.1614583       0.15625       0.1484375  

March 15, 2013

     March 28, 2013       0.125       0.1614583       0.15625       0.1484375  
           

 

 

    

 

 

    

 

 

    

 

 

  

Total

           $ 0.375     $ 0.4843749     $ 0.46875     $ 0.4453125  

 

                 

Senior Common Stock Distributions

  

Payable to the

Holders or Record

During the Month of:

   Payment Date     Distribution per Share  

January

     February 7, 2013     $ 0.0875  

February

     March 7, 2013       0.0875  

March

     April 5, 2013       0.0875  
           

 

 

  

Total

           $ 0.2625  

 

On January 14, 2013, we extended the lease with the tenant occupying our property located in Champaign, Illinois. The lease covering this property was extended for an additional 11 years, through December 2024. The lease was originally set to expire in December 2013. The lease provides for prescribed rent escalations over the life of the lease, with annualized straight line rents of approximately $1.4 million. In connection with the extension of the lease and the modification of certain terms under the lease, we paid $0.4 million in leasing commissions.

During January 2013, we issued 129,278 common shares for gross proceeds of $2.4 million from the issuance of equity under our ATM program.

On January 22, 2013, our tenant in our property located in Baytown, Texas notified us that they would not be renewing their lease. The current lease on the property expires on April 30, 2013.