v3.20.2

Credit Risk Concentrations | 6 Months Ended
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Jun. 30, 2020
Risks And Uncertainties [Abstract] |
Credit Risk Concentrations | 12. Credit Risk Concentrations The Company maintained bank balances that, at times, exceeded the federally insured limit during the six months ended June 30, 2020. The Company has not experienced losses relating to these deposits and management does not believe that the Company is exposed to any significant credit risk with respect to these amounts. Prior to the Internalization on February 7, 2020, the Company’s rental property was managed by BRE and the Asset Manager as described in Note 3. Management fees paid to BRE and Asset Manager represented 0% and 4% of total operating expenses for the three and six months ended June 30, 2020, respectively, and 19% of total operating expenses for the three and six months ended June 30, 2019, respectively. These amounts do not include acquisition fees paid to the Asset Manager that were capitalized (see Note 3). The Company has mortgages and notes payable with three institutions that comprised 62%, 16%, and 10% of total mortgages and notes payable at June 30, 2020 and December 31, 2019. For the three and six months ended June 30, 2020 and 2019, the Company had no individual tenants or common franchises that accounted for more than 10% of total revenues.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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- References No definition available. + Details
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