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Condensed Consolidated Balance Sheets (Q2) - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2019
Real estate investments:      
Land $ 65,510,507 $ 65,358,321 $ 86,775,988
Buildings and improvements 278,389,463 272,397,472 309,904,890
Tenant origination and absorption costs 23,570,335 23,792,057 27,266,610
Total investments in real estate property 367,470,305 361,547,850 423,947,488
Accumulated depreciation and amortization (38,377,298) (32,091,211) (20,411,794)
Total Investment in Real Estate Property, Net 329,093,007 329,456,639 403,535,694
Investment in unconsolidated entity (Note 5)   10,002,368 10,388,588
Investment in unconsolidated entity 9,987,703 10,002,368  
Total real estate investments, net 339,080,710 339,459,007 413,924,282
Real estate investments held for sale, net 5,375,746 24,585,739 0
Total real estate investments 344,456,456 364,044,746 413,924,282
Cash and cash equivalents 7,865,974 8,248,412 6,823,568
Restricted cash 2,508,471 129,118 113,362
Receivable from sale of real estate property 0 1,824,383 0
Tenant receivables 7,155,823 6,665,790  
Above-market lease intangibles, net 755,929 820,842 1,251,734
Prepaid expenses and other assets 4,506,724 2,171,717 1,867,777
Other assets related to real estate investments held for sale 671,265 1,079,361 0
Goodwill, net 17,320,857 17,320,857 50,588,000
Intangible assets, net 4,313,799 5,127,788 7,700,000
Total assets 389,555,298 407,433,014 490,917,263
Liabilities and Equity      
Mortgage notes payable, net 181,576,606 175,925,918 194,039,207
Mortgage notes payable related to real estate investments held for sale, net 4,381,426 9,088,438 0
Total mortgage notes payable, net 185,958,032 185,014,356 194,039,207
Credit facility, net 2,889,303 5,978,276 7,649,861
Economic relief note payable 0 517,000 0
Accounts payable, accrued and other liabilities 7,953,386 7,579,624 11,555,161
Share repurchases payable 1,001,243 2,980,559 0
Below-market lease intangibles, net 11,830,587 12,565,737 14,591,359
Interest rate swap derivatives 1,240,336 1,743,889 1,021,724
Other liabilities related to real estate investments held for sale 227,433 801,337 0
Total liabilities 211,100,320 217,180,778 236,675,009
Commitments and contingencies
Redeemable common stock 10,413,691 7,365,568 14,069,692
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding 0 0 0
Additional paid-in-capital 215,317,098 224,288,417  
Cumulative distributions and net losses (97,886,364) (92,012,686) (31,168,948)
Total Modiv Inc. equity 117,438,287 132,283,668 189,569,562
Noncontrolling interests in the Operating Partnership 50,603,000 50,603,000 50,603,000
Total equity 168,041,287 182,886,668 240,172,562
Total liabilities and equity 389,555,298 407,433,014 490,917,263
Common Class C      
Liabilities and Equity      
Common stock, value issued 7,490 7,874 23,647
Common Class S      
Liabilities and Equity      
Common stock, value issued $ 63 $ 63 $ 187