v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Real estate investments:    
Land $ 22,637,548 $ 21,878,768
Buildings and improvements 122,598,663 108,590,813
Tenant origination and absorption costs 10,697,135 8,340,774
Total investments in real estate property 155,933,346 138,810,355
Accumulated depreciation and amortization (4,889,014) (3,574,739)
Total investments in real estate property, net 151,044,332 135,235,616
Investments in unconsolidated entities 14,330,898 14,524,022
Real estate investments, net 165,375,230 149,759,638
Cash and cash equivalents 11,070,028 3,238,173
Restricted cash 805,416 944,582
Tenant receivables 1,631,423 1,263,095
Above-market lease intangibles, net 657,032 681,293
Due from affiliates (Note 9) 209,876 34,194
Purchase and other deposits 535,000 40,000
Prepaid expenses and other assets 1,308,378 1,104,573
Interest rate swap derivatives 230,934 7,899
Total assets 181,823,317 157,073,447
Liabilities and Stockholders’ Equity    
Mortgage notes payable, net 77,266,071 60,487,303
Unsecured credit facility, net 8,972,286 12,000,000
Accounts payable, accrued and other liabilities 2,399,466 2,411,484
Below-market lease intangibles, net 2,951,175 1,584,229
Due to affiliates (Note 9) 493,915 907,377
Share repurchases payable 859,915 386,839
Total liabilities 92,942,828 77,777,232
Commitments and contingencies (Note 10)
Redeemable common stock 3,580,021 46,349
Preferred stock, par value $0.001 per share, 50,000,000 shares authorized, no shares issued and outstanding 0 0
Additional paid-in-capital 93,582,794 85,324,921
Cumulative distributions and net losses (8,292,416) (6,083,896)
Total stockholders’ equity 85,300,468 79,249,866
Total liabilities and stockholders’ equity 181,823,317 157,073,447
Common Class C [Member]    
Liabilities and Stockholders’ Equity    
Common Stock, Value, Issued 10,087 8,838
Total stockholders’ equity 10,087 8,838
Common Class S [Member]    
Liabilities and Stockholders’ Equity    
Common Stock, Value, Issued 3 3
Total stockholders’ equity $ 3 $ 3