Investments in Real Estate (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Acquired Properties

	Modiv Portfolio
Land	$	7,982,005
Building and site improvements		29,420,653
Tenant improvements		1,306,202
Acquired lease intangible assets		5,764,759
Total real estate investments	$	44,473,619
Less: Acquired lease intangible liabilities		(548,945	)
Total real estate investments, net	$	43,924,674

	La-Z-Boy - Rockford, IL
Land	$	1,437,353
Building and site improvements		2,412,905
Tenant improvements		33,497
Acquired lease intangible assets		421,250
Total real estate investments	$	4,305,005

The following table details the properties acquired during the three and nine months ended September 30, 2022.

	Fresenius-Chicago, IL			Starbucks -Tampa, FL			Kohl's -Tucson, AZ			Total
Land	$	1,690,837		$	1,443,262		$	-		$	3,134,099
Building and site improvements		1,217,395			700,859			6,175,908			8,094,162
Tenant improvements		55,041			20,504			349,136			424,681
Acquired lease intangible assets		276,013			112,830			981,203			1,370,046
Total real estate investments	$	3,239,286		$	2,277,455		$	7,506,247		$	13,022,988
Right of use asset		-			-			6,304,334			6,304,334
Less: Acquired lease intangible liabilities		(19,864	)		(13,497	)		(131,999	)		(165,360	)
Less: Lease liability		-			-			(6,304,334	)		(6,304,334	)
Total real estate investments, net	$	3,219,422		$	2,263,958		$	7,374,248		$	12,857,628