CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Real estate assets, at cost	$ 597,501	$ 594,569
Accumulated depreciation and amortization	(124,634)	(117,652)
Real estate assets, net	472,867	476,917
Cash and cash equivalents	35	1,033
Restricted cash	18,400	26,078
Accrued rent and accounts receivable, net	14,232	12,576
Notes receivable - related party	16,538	17,288
Deferred leasing commission costs, net	11,448	10,790
Goodwill	250	250
Prepaid expenses and other assets	392	735
Due from related parties	3,409	2,130
Investment in affiliate	8,978	8,978
Total assets	546,549	556,775
Liabilities:
Notes payable, net	306,682	303,039
Accounts payable and accrued expenses	12,982	23,444
Tenants' security deposits	5,356	5,286
Total liabilities	325,020	331,769
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, 200,000,000 convertible, non-voting shares authorized, 1000 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	0	0
Common stock, $0.001 par value, 750,000,000 authorized, 18,417,687 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	18	18
Additional paid-in capital	174,019	174,019
Accumulated distributions and net loss	(111,461)	(109,406)
Total stockholders' equity	62,576	64,631
Noncontrolling interests in subsidiary	158,953	160,375
Total equity	221,529	225,006
Total liabilities and equity	$ 546,549	$ 556,775