Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 82,163,055	$ 29,609,484
Restricted Cash	16,255,423	18,542,163
Cash held in escrow by lender	2,062,941	2,398,053
Marketable securities	3,490,394	0
Loans Held for Investment	402,969,513	378,612,768
Real estate owned, Net
Land, building and building improvements, net	64,358,637	64,751,247
Lease intangible assets, net	12,286,955	12,845,228
Operating lease right-of-use assets	16,111,217	16,112,925
Interest receivable	2,253,718	1,876,799
Other assets	2,535,476	2,594,411
Total assets	604,487,329	527,343,078
Liabilities
Obligations under participation agreements (Note 7)	67,670,405	103,186,327
Repurchase agreement payable, net of deferred financing fees	91,352,312	79,608,437
Mortgage loan payable, net of deferred financing fees and other	44,687,123	44,753,633
Revolving credit facility payable, net of deferred financing fees	34,930,844	0
Interest reserve and other deposits held on investments	16,255,423	18,542,163
Operating Lease Liabilities	16,111,217	16,112,925
Lease Intangible Liabilities, net	11,276,085	11,424,809
Due to Manager (Note 7)	1,359,132	1,037,168
Interest payable	933,011	1,076,231
Accounts Payable and Accrued Liabilities	2,563,299	1,749,525
Unearned income	587,535	624,021
Dividends Payable	3,906	0
Other Liabilities	1,906,300	1,684,106
Total liabilities	289,636,592	279,799,345
Commitments and Contingencies
Equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized and none issued	0	0
Common stock, $0.01 par value, 450,000,000 shares authorized and 19,700,151 and 15,125,681 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	197,002	151,257
Additional paid-in capital	377,061,545	301,727,297
Accumulated deficit	(62,716,835)	(54,459,821)
Accumulated other comprehensive income	184,025	0
Total equity	314,850,737	247,543,733
Interest reserve and other deposits held on investments	16,255,423	18,542,163
Total liabilities and equity	604,487,329	527,343,078
Loans Held for Investment
Assets
Loans Held for Investment	398,931,946	375,462,222
Loans Held For Investment Acquired Through Participation
Assets
Loans Held for Investment	4,037,567	3,150,546
Cumulative Preferred Stock
Equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized and none issued	$ 125,000	$ 125,000