Investment in Unconsolidated Joint Venture (Tables)

12 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Summarized Financial Information of Joint Venture

Summarized financial information for the Joint Venture is:

	December 31,
	2018		2017
Assets:
Real estate assets, net	$	493,776,142	$	374,277,205
Other assets	24,091,229		15,328,440
Total assets	$	517,867,371	$	389,605,645
Liabilities and equity:
Notes payable, net	$	340,840,505	$	264,558,057
Other liabilities	21,501,680		11,525,292
Company’s capital	15,552,513		11,352,230
Other partner’s capital	139,972,673		102,170,066
Total liabilities and equity	$	517,867,371	$	389,605,645

	For the Year Ended December 31, 2018			For the Period from November 15, 2017 to December 31, 2017
Revenues	$	60,210,288		$	5,756,455
Expenses	87,653,451			11,330,228
Net loss	$	(27,443,163	)	$	(5,573,773	)
Company’s proportional net loss	$	(2,744,316	)	$	(557,377	)
Amortization of outside basis	(594,886		)	(106,519		)
Equity in loss of unconsolidated joint venture	$	(3,339,202	)	$	(663,896	)