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Condensed Consolidated Statements of Cash Flows (Q2) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net loss $ (2,053,174) $ (246,454)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 4,782,991 3,026,745
Stock compensation expense 176,667 81,405
Amortization of deferred rents (683,886) (609,000)
Amortization of deferred financing costs 390,096 518,391
Amortization of above-market lease intangibles 48,523 48,523
Amortization of below-market lease intangibles (237,196) (169,135)
Amortization of above-market lease intangibles 30,602 0
Unrealized loss (gain) on interest rate swap valuation 874,016 (220,571)
Income from investments in unconsolidated entities (129,988) (93,485)
Distributions from investments in unconsolidated entities 418,730 453,167
Change in operating assets and liabilities:    
Decrease (increase) in tenant receivables 196,660 (245,400)
Decrease in due from affiliates 12,602 7,746
Increase in prepaid and other assets (311,094) (14,041)
Decrease in accounts payable, accrued and other liabilities 319,774 (509,586)
Decrease in due to affiliate (949,192) (710,290)
Net cash provided by operating activities 2,886,131 1,318,015
Cash Flows from Investing Activities:    
Acquisition of real estate investments 0 (31,103,596)
Additions to existing real estate investments 0 (749,095)
Payment for tenant improvements 3,387,699 0
Payment of acquisition fees to affiliate 0 (930,000)
Refundable purchase deposits (100,000) (250,000)
Net cash used in investing activities (3,487,699) (33,032,691)
Cash Flows from Financing Activities:    
Borrowings from unsecured credit facility 4,869,000 9,000,000
Repayments of unsecured credit facility (13,869,000) (21,000,000)
Proceeds from mortgage notes payable 6,350,000 37,845,000
Principal payments on mortgage notes payable (14,240,853) (12,442,642)
Refundable loan deposits 0 (35,360)
Payments of deferred financing costs to third parties (172,797) (676,190)
Payments of financing fees to affiliates (63,500) (209,550)
Proceeds from issuance of common stock and investor deposits 26,340,968 24,551,789
Payments of offering costs (899,863) (829,325)
Payments of commissions to Class S distributor (51,044) 0
Repurchase of common stock (4,443,653) (3,662,982)
Distributions paid to common stockholders (1,182,318) (727,230)
Net cash provided by financing activities 2,636,940 31,813,510
Net increase in cash, cash equivalents and restricted cash 2,035,372 98,834
Cash, cash equivalents and restricted cash, beginning of period 8,755,928 4,182,755
Cash, cash equivalents and restricted cash, end of period 10,791,300 4,281,589
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 2,979,031 1,852,121
Supplemental Schedule of Noncash Investing and Financing Activities:    
Reclassification to redeemable common stock (238,153) (4,006,748)
Reinvested distributions from common stockholders 3,664,523 2,668,673
Increase in share repurchases payable 238,153 502,508
Accrued dividends $ 896,291 $ 643,202