SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2018
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. Other than those disclosed below, there have been no subsequent events that occurred during such period that require disclosure or recognition in the accompanying consolidated financial statements. Investment Activity On July 20, 2018, the Company closed on a land loan with a commitment amount of $3.8 million in the Boston, Massachusetts MSA. This investment was made for the purpose of closing a development property investment in the future. Dividend Declarations On July 31, 2018, the Company’s Board of Directors declared a cash dividend to the holders of the Series A Preferred Stock and a distribution payable in kind, if applicable, in a number of shares of common stock or Series A Preferred Stock as determined in accordance with the election of the holders of the Series A Preferred Stock for the quarter ending September 30, 2018. The dividends are payable on October 15, 2018 to holders of Series A Preferred Stock of record on October 1, 2018. On July 31, 2018, the Company’s Board of Directors declared a cash dividend on the Series B Preferred Stock in the amount of $0.4375 per share for the quarter ending September 30, 2018. The dividends are payable on October 15, 2018 to holders of Series B Preferred Stock of record on October 1, 2018. On July 31, 2018, the Company’s Board of Directors declared a cash dividend of $0.35 per share of common stock for the quarter ending September 30, 2018. The dividend is payable on October 15, 2018 to stockholders of record on October 1, 2018. Other Capital Activities On July 25, 2018, the Company entered into the First Amendment to the Purchase Agreement in order to extend the final date to issue Series A Preferred Stock under the Purchase Agreement from July 27, 2018 to September 30, 2018. On July 25, 2018, the Company entered into the Second Amendment to the Credit Facility, which amends the Credit Facility to, among other things, modify the restrictions on indebtedness so as to permit the Company to enter into certain other indebtedness.

11. SUBSEQUENT EVENTS

The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. Other than those disclosed below, there have been no subsequent events that occurred during such period that require disclosure or recognition in the accompanying consolidated financial statements.

Investment Activity

On July 20, 2018, the Company closed on a land loan with a commitment amount of $3.8 million in the Boston, Massachusetts MSA. This investment was made for the purpose of closing a development property investment in the future.

Dividend Declarations

On July 31, 2018, the Company’s Board of Directors declared a cash dividend to the holders of the Series A Preferred Stock and a distribution payable in kind, if applicable, in a number of shares of common stock or Series A Preferred Stock as determined in accordance with the election of the holders of the Series A Preferred Stock for the quarter ending September 30, 2018. The dividends are payable on October 15, 2018 to holders of Series A Preferred Stock of record on October 1, 2018.

On July 31, 2018, the Company’s Board of Directors declared a cash dividend on the Series B Preferred Stock in the amount of $0.4375 per share for the quarter ending September 30, 2018. The dividends are payable on October 15, 2018 to holders of Series B Preferred Stock of record on October 1, 2018.

On July 31, 2018, the Company’s Board of Directors declared a cash dividend of $0.35 per share of common stock for the quarter ending September 30, 2018. The dividend is payable on October 15, 2018 to stockholders of record on October 1, 2018.

Other Capital Activities

On July 25, 2018, the Company entered into the First Amendment to the Purchase Agreement in order to extend the final date to issue Series A Preferred Stock under the Purchase Agreement from July 27, 2018 to September 30, 2018.

On July 25, 2018, the Company entered into the Second Amendment to the Credit Facility, which amends the Credit Facility to, among other things, modify the restrictions on indebtedness so as to permit the Company to enter into certain other indebtedness.