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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Real estate assets and lease intangibles:    
Land $ 39,084,687 $ 37,766,357
Buildings and improvements 189,036,379 183,071,686
Tenant improvements 22,843,881 21,348,989
Lease intangibles 8,996,931 9,096,793
Real estate assets and lease intangibles held for investment, cost 259,961,879 251,283,825
Accumulated depreciation and amortization (42,894,476) (37,143,881)
Real estate assets and lease intangibles held for investment, net 217,067,403 214,139,943
Real estate assets held for sale, net 20,299,157 20,394,001
Real estate assets, net 237,366,560 234,533,944
Cash equivalents and restricted cash 11,841,100 8,310,575
Deferred leasing costs, net 2,006,175 1,892,066
Goodwill 2,423,000 2,423,000
Other assets, net 5,994,522 7,337,280
TOTAL ASSETS 259,631,357 254,496,865
Liabilities:    
Mortgage notes payable, net 155,638,288 144,893,113
Mortgage notes payable related to properties held for sale, net 15,193,432 15,429,624
Mortgage notes payable, net 170,831,720 160,322,737
Accounts payable and accrued liabilities 7,530,999 7,142,720
Accrued real estate taxes 2,455,397 3,013,993
Below-market leases, net 1,218,148 1,390,372
Total liabilities 212,631,611 202,454,697
Commitments and contingencies
Equity:    
Additional paid-in capital 151,121,902 151,121,902
Dividends and accumulated losses (119,751,640) (113,652,763)
Total stockholders' equity before noncontrolling interest 31,546,942 37,645,819
Noncontrolling interest 15,452,804 14,396,349
Total equity 46,999,746 52,042,168
TOTAL LIABILITIES AND EQUITY 259,631,357 254,496,865
Redeemable Convertible Preferred Stock Series B [Member]    
Liabilities:    
Mandatorily redeemable Series B Preferred Stock, net 30,595,347 30,584,875
Common Class A [Member]    
Equity:    
Common stock series A $ 176,680 $ 176,680