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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Real estate investments:    
Land $ 86,775,988 $ 86,775,988
Buildings and improvements 301,094,023 309,904,890
Tenant origination and absorption costs 27,482,322 27,266,610
Total investments in real estate property 415,352,333 423,947,488
Accumulated depreciation and amortization (24,560,099) (20,411,794)
Total Investment in Real Estate Property, Net 390,792,234 403,535,694
Investment in unconsolidated entity (Note 5) 10,244,310 10,388,588
Total real estate investments, net 401,036,544 413,924,282
Cash and cash equivalents 4,181,395 6,823,568
Restricted cash 254,279 113,362
Tenant receivables, net 7,016,520 6,224,764
Above-market lease intangibles, net 1,202,251 1,251,734
Due from affiliates (Note 9) 7,638 2,332
Prepaid expenses and other assets 3,122,518 1,867,777
Interest rate swap derivatives 0 34,567
Operating lease right-of-use asset 2,258,305 2,386,877
Goodwill 17,320,857 50,588,000
Intangible assets, net 6,231,211 7,700,000
Total assets 442,631,518 490,917,263
Liabilities and Equity    
Mortgage notes payable, net 196,829,742 194,039,207
Unsecured credit facility, net 11,917,324 7,649,861
Short-term notes payable 1,024,750 4,800,000
Accounts payable, accrued and other liabilities 12,684,636 11,555,161
Below-market lease intangibles, net 14,201,537 14,591,359
Due to affiliates (Note 9) 465,770 630,820
Interest rate swap derivatives 2,272,124 1,021,724
Operating lease liability 2,265,005 2,386,877
Total liabilities 241,660,888 236,675,009
Commitments and contingencies
Redeemable common stock 9,675,829 14,069,692
Preferred stock, $0.001 par value, 50,000,000 shares authorized, no shares issued and outstanding 0 0
Additional paid-in-capital 224,849,288 220,714,676
Cumulative distributions and net losses (84,181,336) (31,168,948)
Total RW Holdings NNN REIT, Inc. equity 140,691,801 189,569,562
Noncontrolling interests in the Operating Partnership 50,603,000 50,603,000
Total equity 191,294,801 240,172,562
Total liabilities and equity 442,631,518 490,917,263
Class C    
Liabilities and Equity    
Common stock, value issued 23,661 23,647
Class S    
Liabilities and Equity    
Common stock, value issued $ 188 $ 187