XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Investments in Real Estate (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Schedule of Acquired Properties | The following table details the properties acquired during the twelve months ended December 31, 2022.
﻿ | Fresenius-Chicago, IL |  | ﻿ | Starbucks -Tampa, FL |  | ﻿ | Kohl's -Tucson, AZ |  | ﻿ | Total |
Land | $ | 1,690,837 |  | ﻿ | $ | 1,443,262 |  | ﻿ | $ | - |  | ﻿ | $ | 3,134,099 |
Building and site improvements |  | 1,217,395 |  |  |  | 700,859 |  |  |  | 6,175,908 |  |  |  | 8,094,162 |
Tenant improvements |  | 55,041 |  | ﻿ |  | 20,504 |  | ﻿ |  | 349,136 |  | ﻿ |  | 424,681 |
Acquired lease intangible assets |  | 276,013 |  | ﻿ |  | 112,830 |  | ﻿ |  | 981,203 |  | ﻿ |  | 1,370,046 |
Total real estate investments | $ | 3,239,286 |  | ﻿ | $ | 2,277,455 |  | ﻿ | $ | 7,506,247 |  | ﻿ | $ | 13,022,988 |
Right of use asset |  | - |  |  |  | - |  |  |  | 6,304,334 |  |  |  | 6,304,334 |
Less: Acquired lease intangible liabilities |  | (19,864 | ) |  |  | (13,497 | ) |  |  | (131,999 | ) |  |  | (165,360 | )
Less: Lease liability |  | - |  |  |  | - |  |  |  | (6,304,334 | ) |  |  | (6,304,334 | )
Total real estate investments, net | $ | 3,219,422 |  |  | $ | 2,263,958 |  | ﻿ | $ | 7,374,248 |  | ﻿ | $ | 12,857,628 |
The following table details the Modiv properties acquired during the twelve months ended December 31, 2023.
Land |  | 7,982,005 |
Building and site improvements |  | 29,426,578 |
Tenant improvements |  | 1,306,203 |
Acquired lease intangible assets |  | 5,764,762 |
Total real estate investments |  | 44,479,548 |
Less: Acquired lease intangible liabilities |  | (548,944 | )
Total real estate investments, net |  | 43,930,604 |
| La-Z-Boy - Rockford, IL |
Land |  | 1,437,353 |
Building and site improvements |  | 2,412,300 |
Tenant improvements |  | 33,497 |
Acquired lease intangible assets |  | 421,250 |
Total real estate investments |  | 4,304,400 |

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration