SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

The Company anticipates the estimated useful lives of its assets by class to be generally as follows:


Land			N/A
Buildings			25-40 years
Building improvements			10-25 years
Tenant improvements			Shorter of lease term or expected useful life
Tenant origination and absorption costs			Remaining term of related leases, including below-market renewal periods
Real estate subsidies & tax abatements			Remaining term of agreement
Furniture, fixtures & equipment			3-12 years

Schedule of Dividends Declared

Commencing March 2015, the Company’s board of directors has declared and issued stock dividends on shares of the Company’s common stock through December 31, 2019 as follows:


Year Ended December 31,	Amount Declared per Share Outstanding ⁽¹⁾	Total Shares Issued
2015	0.100000 shares	765,604
2016	0.035003 shares	513,723
2017	0.020004 shares	493,463
2018	0.018337 shares	584,377
2019	—	—

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⁽¹⁾Amount declared per share outstanding includes one-time stock dividends, quarterly dividends and monthly dividends and assumes each share was issued and outstanding for the entire periods presented. Stock dividends are issued in the same class of shares as the shares for which such stockholder received the stock dividend.

Schedule of Earnings Per Share, Including Two Class Method

The Company’s calculated earnings per share for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands, except per share amounts):


	Years Ended December 31,
	2019		2018		2017

Net loss attributable to common stockholders	(7,499)		(23,508)		(3,272)
Less: Class A Common Stock cash distributions declared	2,010		3,372		2,991
Less: Class T Common Stock cash distributions declared	1,369		1,635		929
Undistributed net loss attributable to common stockholders	$	(10,878)	$	(28,515)	$	(7,192)

Class A Common Stock:
Undistributed net loss attributable to common stockholders	(6,468)		(17,101)		(4,471)
Class A Common Stock cash distributions declared	2,010		3,372		2,991
Net loss attributable to common stockholders	$	(4,458)	$	(13,729)	$	(1,480)
Net loss per common share, basic and diluted	$	(0.25)	$	(0.77)	$	(0.09)
Weighted-average number of common shares outstanding, basic and diluted	17,949,301		17,775,503		16,096,216

Class T Common Stock:
Undistributed net loss attributable to common stockholders	$	(4,410)	$	(11,414)	$	(2,721)
Class T Common Stock cash distributions declared	1,369		1,635		929
Net loss attributable to common stockholders	$	(3,041)	$	(9,779)	$	(1,792)
Net loss per common share, basic and diluted	$	(0.25)	$	(0.82)	$	(0.18)
Weighted-average number of common shares outstanding, basic and diluted	12,241,271		11,864,178		9,797,325