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Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Real estate assets and lease intangibles:    
Land $ 36,615,681 $ 35,482,107
Buildings and improvements 179,819,048 174,685,538
Tenant improvements 22,557,994 20,523,191
Lease intangibles 9,026,435 9,096,794
Real estate assets and lease intangibles held for investment, cost 248,019,158 239,787,630
Accumulated depreciation and amortization (41,626,688) (34,514,829)
Real estate assets and lease intangibles held for investment, net 206,392,470 205,272,801
Real estate assets held for sale, net 4,715,595 29,261,143
Real estate assets, net 211,108,065 234,533,944
Cash, cash equivalents and restricted cash 9,776,215 8,310,575
Deferred leasing costs, net 2,096,553 1,892,066
Goodwill 2,423,000 2,423,000
Other assets, net 7,646,207 7,337,280
TOTAL ASSETS 233,050,040 254,496,865
Liabilities:    
Mortgage notes payable related to real estate assets held for investment, net 148,193,181 141,330,911
Mortgage notes payable related to real estate assets held for sale, net 1,520,995 18,991,826
Mortgage notes payable, net 149,714,176 160,322,737
Accounts payable and accrued liabilities 5,751,245 7,142,720
Accrued real estate taxes 3,094,380 3,013,993
Dividends payable 1,075,371  
Below-market leases, net 495,927 1,390,372
Total liabilities 176,908,997 202,454,697
Commitments and contingencies
Stockholders' 'Equity:    
Additional paid-in capital 151,582,017 151,121,902
Dividends in excess of accumulated losses (111,343,840) (113,652,763)
Total stockholders' equity before noncontrolling interest 40,415,393 37,645,819
Noncontrolling interest 15,725,650 14,396,349
Total equity 56,141,043 52,042,168
TOTAL LIABILITIES AND EQUITY 233,050,040 254,496,865
Redeemable Convertible Preferred Stock Series B [Member]    
Liabilities:    
Mandatorily redeemable Series B Preferred Stock, net 16,777,898 30,584,875
Common Class A [Member]    
Stockholders' 'Equity:    
Common stock Series A $ 177,216 $ 176,680