INVESTMENT IN UNCONSOLIDATED ENTITY (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Schedule of Equity Method Investments [Line Items]

The Company’s investment in unconsolidated entity as of June 30, 2021 and December 31, 2020 is as follows:

		June 30, 2021				December 31, 2020
The TIC Interest		$	9,987,703			$	10,002,368

The Company’s investment in unconsolidated entity as of December 31, 2020 and 2019 is as follows:

	December 31,
	2020		2019
The TIC Interest	$	10,002,368	$	10,388,588

Entities Equity In Earnings

The Company’s income from investment in unconsolidated entity for the three and six months ended June 30, 2021 and 2020, is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
The TIC Interest	$	74,834	$	125,658	$	147,302	$	146,411

Summarized Financial Information

The following is summarized financial information for the Santa Clara property as of and for the years ended December 31, 2020 and 2019:

	December 31,
	2020		2019
Assets:
Real estate investments, net	$	29,906,146	$	30,858,240
Cash and cash equivalents		380,774		275,760
Other assets		164,684		228,770
Total assets	$	30,451,604	$	31,362,770

Liabilities:
Mortgage notes payable, net	$	13,489,126	$	13,746,635
Below-market lease, net		2,806,973		2,953,360
Other liabilities		92,777		68,587
Total liabilities		16,388,876		16,768,582
Total equity		14,062,728		14,594,188
Total liabilities and equity	$	30,451,604	$	31,362,770

	Years Ended December 31,
	2020		2019
Total revenue	$	2,694,874	$	2,705,126

Expenses:
Depreciation and amortization		999,929		993,564
Interest expense		565,778		574,086
Other expenses		721,279		731,044
Total expenses		2,286,986		2,298,694
Net income	$	407,888	$	406,432

The following is REIT I's summarized results of operations for the year ended December 31, 2019:

	Year Ended December 31, 2019
Total revenue	$	13,132,226

Expenses:
Depreciation and amortization		5,787,709
Interest expense		3,425,625
Other expenses		5,342,365
Total expenses		14,555,699
Other income:
Gain on sale of real estate investment property, net		(1,850,845	)
Loss on debt restructuring		1,964,618
Total other income		113,773
Net loss	$	(1,309,700	)

The TIC Interest

Schedule of Equity Method Investments [Line Items]

Summarized Financial Information

The following is summarized financial information for the Santa Clara property as of June 30, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020:

	June 30, 2021		December 31, 2020
Assets:
Real estate investments, net	$	29,406,115	$	29,906,146
Cash and cash equivalents		786,775		380,774
Other assets		50,041		164,684
Total assets	$	30,242,931	$	30,451,604
Liabilities:
Mortgage note payable, net	$	13,354,714	$	13,489,126
Below-market lease, net		2,733,780		2,806,973
Other liabilities		111,598		92,777
Total liabilities		16,200,092		16,388,876
Total equity		14,042,839		14,062,728
Total liabilities and equity	$	30,242,931	$	30,451,604

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Total revenues	$	676,936	$	751,653	$	1,350,912	$	1,349,573
Expenses:
Interest expense		138,036		140,906		275,642		282,609
Depreciation and amortization		250,015		250,680		500,030		499,898
Other expenses		185,964		187,246		372,652		365,703
Total expenses		574,015		578,832		1,148,324		1,148,210
Net income	$	102,921	$	172,821	$	202,588	$	201,363