XML 42 R32.htm IDEA: XBRL DOCUMENT
v3.24.3

OPERATING PARTNERSHIP UNITS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Conversion of Various OP Units | The following table shows the conversion of the various OP Units described above into Class C OP Units as of and for the nine months ended September 30, 2024, the number of Class C OP Units exchanged for Class C Common Stock and outstanding Class C OP Units:
OP Units |  | OP Units Issued |  | Conversion Ratio |  | Class C OP Units Issued |  | Exchanged for Class C Common Stock |  | Outstanding Class C OP Units
Class M |  | 657,950 |  |  | 1.666667 |  | 1,096,583 |  |  | 761,376 |  |  | 335,207 |
Class P |  | 56,029 |  |  | 1.666667 |  | 93,382 |  |  | 56,592 |  |  | 36,790 |
Class R |  | 316,343 |  |  | 2.500000 |  | 790,858 |  |  | 143,333 |  |  | 647,525 |
Total |  | 1,030,322 |  |  |  |  | 1,980,823 |  |  | 961,301 |  |  | 1,019,522 |
Schedule of Total Stock Compensation Expense | The total stock compensation expenses for the three and nine months ended September 30, 2024 and 2023 were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Class P OP Units |  | $ | — |  |  | $ | 88,783 |  |  | $ | 88,783 |  |  | $ | 266,350 |
Class R OP Units - Time Vested Units |  | — |  |  | 488,887 |  |  | 488,887 |  |  | 1,466,659 |
Class R OP Units - Performance Vested Units |  | — |  |  | 7,822,197 |  |  | 733,332 |  |  | 7,822,197 |
Class C Common Stock issued to the board of directors for services (see Note 10) |  | 75,000 |  |  | 70,000 |  |  | 210,000 |  |  | 235,000 |
Total |  | $ | 75,000 |  |  | $ | 8,469,867 |  |  | $ | 1,521,002 |  |  | $ | 9,790,206 |
Schedule of Distributions and Allocations of Net Income (Loss) | Class C OP Units received the following distributions and allocations of net (loss) income during the three and nine months ended September 30, 2024 and 2023 were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Class C OP Units distributions |  | $ | 501,526 |  |  | $ | 459,955 |  |  | $ | 1,542,864 |  |  | $ | 1,269,653 |
Class C OP Units net (loss) income allocation |  | $ | (461,334) |  |  | $ | (1,368,896) |  |  | $ | 388,349 |  |  | $ | (1,535,452) |

X
- Definition Schedule of Conversion Of Various OP Units + References No definition available. + Details
Name: | cik0001645873_ScheduleOfConversionOfVariousOPUnitsTableTextBlock
Namespace Prefix: | cik0001645873_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Distributions and Allocations of Net (Loss) Gain + References No definition available. + Details
Name: | cik0001645873_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock
Namespace Prefix: | cik0001645873_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration