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Subsequent Events (Details Narrative) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | ---
May 31, 2018 USD ($) | Mar. 31, 2018 USD ($) | Mar. 31, 2017 USD ($) | Dec. 31, 2017 | May 14, 2018 integer | May 04, 2018 USD ($)
Cash contribution |  | $ 28 | $ 104 |  |  |
Construction loan description |  | 5.6% to 8% mortgage notes due in installments through 2027 |  | 5.6% to 8% mortgage notes due in installments through 2027 |  |
Subsequent Event [Member] |  |  |  |  |  |
Value of land contributed | $ 16,300 |  |  |  |  |
Cash contribution | 2,300 |  |  |  |  |
Capital contribution |  |  |  |  |  | $ 5,000
Development fee | $ 750 |  |  |  |  |
Maximum draws |  |  |  |  |  | $ 71,000
Interest rate over LIBOR | 3.25% |  |  |  |  |
Construction loan description | .Â The loan from Eagle Bank allows draws of up to $71 million during construction at an interest rate of 3.25% over libor. The loan is interest only and matures in 36 months with a 12 month extension assuming completion of construction and at least one occupancy.Â There is a provision for an additional 72 months extension with a 30 year amortization of principal at 2.15% over 7 year US Treasury Constant if NOI is sufficient for a 9% yield. |  |  |  |  |
BRE Foxtrot Parent |  |  |  |  |  |
Warehouse properties | integer |  |  |  |  | 41 |
Land parcels | integer |  |  |  |  | 2 |
Sales price | $ 358,900 |  |  |  |  |

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- Definition This element represents the carrying value of a short-term real estate loan to finance building costs. The funds are disbursed as needed or in accordance with a prearranged plan; generally, a portion of the funds is disbursed at inception and the remainder as construction progresses. The money is repaid on completion of the project, usually from the proceeds of a mortgage loan. The rate is normally higher than the prime rate, and there is usually an origination fee. The effective yield on these loans tends to be high, and the lender has a security interest in the real property. Note that there are separate concepts for the current and noncurrent portions of long-term construction loans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Value of property contributed in noncash investing and financing activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4304-108586 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4332-108586 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=98513485&loc=d3e4313-108586 + Details
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- Definition Description of long-term debt arrangements, which are debt arrangements that originally require full repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer, and disclosures pertaining to the underlying arrangements, including repayment terms, conversion features, interest rates, restrictions on assets and activities, debt covenants, and other matters important to users of the financial statements. Types of long-term debt arrangements include borrowing under notes payable, bonds payable, debentures, term loans, and other contractual obligations for payment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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