XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Organization and Offering Costs
6 Months Ended
Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Organization and Offering Costs

Note 6. Organization and Offering Costs

As of June 30, 2020, the Sponsor has paid approximately $17,522,000 of offering costs and $236,000 of organization costs relating to the Offering, all of which were paid directly by the Sponsor on behalf of the Company, and were reimbursed to the Sponsor as disclosed in Note 2 of the consolidated financial statements. Such amounts include approximately $0 and $51,600 of offering costs, which were incurred by the Sponsor during the six months ended June 30, 2020 and 2019, respectively. During the six months ended June 30, 2020 and 2019, the Company did not make any reimbursement of offering costs to the Sponsor. Such offering costs reimbursed by the Company have been recognized against the proceeds from the issuance of units.

From the commencement of the Company’s operations through June 30, 2020, the Company has reimbursed the Sponsor a total of $17,237,807 of offering and organization costs and there is a remaining balance of approximately $520,600 of offering costs that have not yet been reimbursed to the Sponsor as of June 30, 2020.  

For the six months ended June 30, 2020 and 2019, we paid SC Distributors, the dealer manager for certain of our offerings, $238,829 and $260,390, respectively in ongoing distributions fees, dealer manager fees and service fees.