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Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Real estate investments:    
Land $ 21,878,768 $ 5,369,238
Building and improvements 108,590,813 24,243,072
Tenant origination and absorption costs 8,340,774 3,632,731
Total investments in real estate property 138,810,355 33,245,041
Accumulated depreciation and amortization (3,574,739) (493,185)
Total investments in real estate property, net 135,235,616 32,751,856
Investments in unconsolidated entities (Note 5) 14,524,022 3,523,809
Real estate investments, net 149,759,638 36,275,665
Cash and cash equivalents 3,238,173 3,431,769
Restricted cash 944,582 245,604
Tenant receivables 1,263,095 114,320
Above-market leases, net 681,293 148,577
Due from affiliates (Note 9) 34,194 108,433
Purchase and other deposits 40,000 500,000
Prepaid expenses and other assets 1,104,573 478,192
Interest rate swap derivatives 7,899 0
TOTAL ASSETS 157,073,447 41,302,560
LIABILITIES & STOCKHOLDERS’ EQUITY    
Mortgage notes payable, net 60,487,303 7,113,701
Unsecured credit facility, net 12,000,000 10,156,685
Accounts payable, accrued and other liabilities 2,411,484 470,236
Below-market leases, net 1,584,229 150,767
Due to affiliates (Note 9) 907,377 383,422
Investor deposits 0 582,516
Share repurchases payable 386,839 17,467
TOTAL LIABILITIES 77,777,232 18,874,794
Commitments and contingencies (Note 10)
Redeemable common stock 46,349 196,660
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding 0 0
Additional paid-in-capital 85,324,921 23,643,435
Cumulative distributions and net losses (6,083,896) (1,414,787)
TOTAL STOCKHOLDERS' EQUITY 79,249,866 22,231,106
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY 157,073,447 41,302,560
Common Class C [Member]    
LIABILITIES & STOCKHOLDERS’ EQUITY    
Common Stock, Value, Issued 8,838 2,458
TOTAL STOCKHOLDERS' EQUITY 8,838 2,458
Common Class S [Member]    
LIABILITIES & STOCKHOLDERS’ EQUITY    
Common Stock, Value, Issued 3 0
TOTAL STOCKHOLDERS' EQUITY $ 3 $ 0