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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Real estate investments:    
Land $ 67,340,810 $ 65,358,321
Buildings and improvements 280,284,086 272,397,472
Tenant origination and absorption costs 23,784,332 23,792,057
Total investments in real estate property 371,409,228 361,547,850
Accumulated depreciation and amortization (41,720,011) (32,091,211)
Total investments in real estate property, net 329,689,217 329,456,639
Investment in unconsolidated entity 9,977,144 10,002,368
Total real estate investments, net 339,666,361 339,459,007
Real estate investments held for sale, net 0 24,585,739
Total real estate investments 339,666,361 364,044,746
Cash and cash equivalents 52,299,936 8,248,412
Restricted cash 2,410,951 129,118
Receivable from early termination of lease and sale of real estate property, respectively 1,966,767 1,824,383
Tenant receivables 7,346,948 6,665,790
Above-market lease intangibles, net 723,475 820,842
Prepaid expenses and other assets 4,779,024 2,171,717
Other assets related to real estate investments held for sale 0 1,079,361
Goodwill, net 17,320,857 17,320,857
Intangible assets, net 3,926,009 5,127,788
Total assets 430,440,328 407,433,014
Liabilities and Equity    
Mortgage notes payable, net 180,914,339 175,925,918
Mortgage notes payable related to real estate investments held for sale, net 0 9,088,438
Total mortgage notes payable, net 180,914,339 185,014,356
Credit facility, net 0 5,978,276
Economic relief note payable 0 517,000
Accounts payable, accrued and other liabilities 9,913,473 7,579,624
Share repurchases payable 1,348,911 2,980,559
Below-market lease intangibles, net 11,466,014 12,565,737
Interest rate swap derivatives 1,073,998 1,743,889
Other liabilities related to real estate investments held for sale 0 801,337
Total liabilities 204,716,735 217,180,778
Commitments and contingencies (Note 11)
Redeemable common stock 750,000 7,365,568
7.375% Series A cumulative redeemable perpetual preferred stock, $0.001 par value, 2,000,000 and no shares authorized, 2,000,000 and no shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively (Note 9) 2,000 0
Additional paid-in-capital 270,724,156 224,288,417
Cumulative distributions and net losses (96,363,037) (92,012,686)
Total Modiv Inc. equity 174,370,593 132,283,668
Noncontrolling interests in the Operating Partnership 50,603,000 50,603,000
Total equity 224,973,593 182,886,668
Total liabilities and equity 430,440,328 407,433,014
Class C common stock    
Liabilities and Equity    
Common stock, value issued 7,410 7,874
Class S common stock    
Liabilities and Equity    
Common stock, value issued $ 64 $ 63