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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Real estate assets and lease intangibles:    
Land $ 18,827,000 $ 19,844,739
Buildings and improvements 115,409,423 118,446,764
Tenant improvements 11,960,018 10,696,181
Lease intangibles 4,110,139 4,230,706
Real estate assets and lease intangibles held for investment, cost 150,306,580 153,218,390
Accumulated depreciation and amortization (26,551,789) (22,482,219)
Real estate assets and lease intangibles held for investment, net 123,754,791 130,736,171
Real estate assets held for sale, net 42,499,176 69,470,449
Real estate assets, net 166,253,967 200,206,620
Cash, cash equivalents and restricted cash 11,540,917 10,391,275
Deferred leasing costs, net 1,927,951 2,053,927
Goodwill 2,423,000 2,423,000
Other assets, net 3,422,781 5,709,586
TOTAL ASSETS 185,568,616 220,784,408
Liabilities:    
Mortgage notes payable, net 94,664,266 99,996,306
Mortgage notes payable related to properties held for sale, net 25,365,430 42,396,686
Mortgage notes payable, total net 120,029,696 142,392,992
Note payable, net 7,500,086 12,238,692
Accounts payable and accrued liabilities 5,126,199 5,673,815
Accrued real estate taxes 2,548,686 2,987,601
Lease liability, net 102,323 560,188
Below-market leases, net 139,045 309,932
Total liabilities 135,446,035 164,163,220
Commitments and contingencies (Note 10)
Equity:    
Additional paid-in capital 156,463,146 152,129,120
Dividends and accumulated losses (121,674,505) (113,037,144)
Total stockholders' equity before noncontrolling interest 34,883,679 39,180,794
Noncontrolling interest 15,238,902 17,440,394
Total equity 50,122,581 56,621,188
TOTAL LIABILITIES AND EQUITY 185,568,616 220,784,408
Common Class A [Member]    
Equity:    
Series A Common Stock, $0.01 par value, shares authorized: 100,000,000; 9,508,363 and 8,881,842 shares were both issued and outstanding at December 31, 2020 and December 31, 2019, respectively $ 95,038 $ 88,818