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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Real estate assets:    
Land $ 3,245,003 $ 3,245,003
Buildings and improvements 41,258,770 41,258,770
Intangible lease assets 5,101,432 5,101,432
Total real estate assets, at cost 49,605,205 49,605,205
Less: accumulated depreciation and amortization (5,735,541) (3,823,287)
Total real estate assets, net 43,869,664 45,781,918
Cash and cash equivalents 1,206,262 635,959
Rents and tenant receivables 1,112,208 943,287
Prepaid expenses and other assets 54,716 79,198
Deferred costs, net 56,689 407,029
Total assets 46,299,539 47,847,391
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Credit facility 24,175,000 24,175,000
Accrued expenses and accounts payable 628,747 683,380
Due to affiliates 110,872 188,461
Distributions payable 132,145 155,111
Deferred rental income 217,149 0
Total liabilities 25,263,913 25,201,952
Commitments and contingencies
Redeemable common stock 0 182,158
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding 0 0
Capital in excess of par value 28,707,032 28,016,307
Accumulated distributions in excess of earnings (7,703,609) (5,584,678)
Total stockholders’ equity 21,035,626 22,463,281
Total liabilities, redeemable common stock, and stockholders’ equity 46,299,539 47,847,391
Class A Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock 24,974 24,179
Class T Common Stock    
STOCKHOLDERS’ EQUITY    
Common stock $ 7,229 $ 7,473