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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ (246,405) $ 1,353,780
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 10,572,936 4,946,590
Loss from investments in real estate-related assets 76,208  
Amortization of above-market lease intangibles 85,003 22,721
Amortization of below-market lease intangibles (676,550) (635,917)
Changes in assets and liabilities:    
Proceeds from investments in real estate-related assets 309,847  
(Increase) in deferred rent receivable (3,409,597) (427,458)
(Increase) in accrued investment income receivable (78,405) (77,323)
(Increase)/decrease in prepaid expenses and other assets (4,033,588) 1,488
(Increase) in due from related party (140,371) (275,464)
Increase in due to related parties 165,217 34,158
Increase/(decrease) in deferred revenue 699,652 (84,833)
Increase in distribution payable 540,237  
Increase in restricted reserves 2,455,950 235,891
(Decrease)/increase in accounts payable and accrued expenses (447,380) 25,161
Increase/(decrease) in accrued interest payable 391,873 (10,551)
Net cash provided by operating activities 6,194,725 5,039,303
Cash flows from investing activities:    
Acquisition of real estate (124,746,506)  
Cash used in investing activities (124,746,506)  
Cash flows from financing activities:    
Borrowings under credit facility 63,170,173  
Proceeds from issuance of common stock, net 52,141,899 21,293,396
Distributions (5,251,160) (4,168,522)
Payments from redemptions of common stock (5,621,298) (2,642,871)
Non-controlling interest distributions (957,718) (44,000)
Payment of deferred financing costs (2,530,645)  
Net cash provided by financing activities 100,951,251 14,438,003
Net (decrease)/increase in cash and cash equivalents (17,600,530) 19,477,306
Cash and cash equivalents, at beginning of period 33,524,830 17,305,001
Cash and cash equivalents, at end of period 15,924,300 36,782,307
Supplemental disclosure of cash flow information:    
Cash paid for interest 5,136,958 2,901,688
Non-cash investing and financing activities:    
Distribution reinvestment 2,750,780 2,329,353
Distributions payable 2,467,843 94,466
Assumption of loans payable in conjunction with acquisitions of real estate 163,052,000  
Acquired non-controlling interests 75,127,589  
Mezzanine Loan Investment [Member]    
Changes in assets and liabilities:    
(Increase) in accrued investment income receivable $ (69,902) $ (68,940)