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LEASE INTANGIBLES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Net Value of Other Intangible Assets

The following table summarizes the net value of other intangible assets acquired and the accumulated amortization for each class of intangible asset:

		March 31, 2020												December 31, 2019
		Lease Intangibles				Accumulated Amortization				Lease Intangibles, net				Lease Intangibles				Accumulated Amortization				Lease Intangibles, net
In-place leases		$	3,186,889			$	(2,592,558	)		$	594,331			$	4,360,027			$	(3,283,027	)		$	1,077,000
Leasing costs			1,800,922				(1,455,228	)			345,694				2,937,976				(2,002,711	)			935,265
Above-market leases			333,485				(253,410	)			80,075				333,485				(240,739	)			92,746
		$	5,321,296			$	(4,301,196	)		$	1,020,100			$	7,631,488			$	(5,526,477	)		$	2,105,011

Lease intangibles consist of the following:

		December 31, 2019												December 31, 2018
		Lease Intangibles				Accumulated Amortization				Lease Intangibles, net				Lease Intangibles				Accumulated Amortization				Lease Intangibles, net
In-place leases		$	4,360,027			$	(3,283,027	)		$	1,077,000			$	4,958,477			$	(3,467,781	)		$	1,490,696
Leasing costs			2,937,976				(2,002,711	)			935,265				3,628,080				(2,405,514	)			1,222,566
Above-market leases			333,485				(240,739	)			92,746				439,878				(291,666	)			148,212
		$	7,631,488			$	(5,526,477	)		$	2,105,011			$	9,026,435			$	(6,164,961	)		$	2,861,474

Amortization Expense for the Company Lease Intangible Assets

Future aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

Nine months remaining in 2020		$	397,753
Years ending December 31:
2021			372,484
2022			202,479
2023			17,663
2024			17,663
Thereafter			12,058
Total		$	1,020,100

Aggregate approximate amortization expense for the Company’s lease intangible assets is as follows:

Year ending December 31,
2020		$	687,974
2021			510,215
2022			360,116
2023			173,785
2024			118,989
Thereafter			253,932
Total		$	2,105,011

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- References

No definition available.

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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