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Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Related party fees and expenses incurred for the three months ended March 31, 2020 and 2019 are summarized below:
 
 
 
 
Three Months Ended March 31,
Related Party
 
Source Agreement & Description
 
2020
 
2019
Managing Dealer /Placement Agent
 
Managing Dealer / Placement Agent Agreements:
     Commissions
 
$
332,914

 
$
285,677

 
Dealer Manager / Placement Agent Fees
 
195,796

 
138,634

 
Distribution and shareholder servicing fees
 
26,359

 
6,769

Manager and Sub-Manager
 
Management Agreement and Sub-Management Agreement:
     Organization and offering reimbursement (1)(2)
 
242,008

 
171,267

 
 
Base management fees (1)
 
515,598

 
241,638

Manager and Sub-Manager
 
Expense Support and Conditional Reimbursement Agreement:
Expense support
 
(607,630
)
 
(216,073
)
Manager
 
Administrative Services Agreement:
Reimbursement of third-party operating expenses (1)
 
19,839

 
11,864

Sub-Manager
 
Sub-Management Agreement:
Reimbursement of third-party pursuit costs (1)(3)
 
6,949

 
—

 FOOTNOTE:
(1) 
Expenses subject to Expense Support.
(2) 
Organization reimbursements are expensed on the Company’s statements of operations as incurred. Offering reimbursements are capitalized on the Company’s statements of assets and liabilities as deferred offering expenses and expensed to the Company’s statements of operations over the lesser of the offering period or 12 months.
(3) 
Includes reimbursement of third-party fees incurred for investments that did not close, including fees and expenses associated with performing the due diligence reviews.
The following table presents amounts due from (to) related parties as of March 31, 2020 and December 31, 2019:
 
March 31, 2020
 
December 31, 2019
Due from related parties:
 
 
 
Expense Support
$
607,630

 
$
1,372,020

Total due from related parties
607,630

 
1,372,020

Due to related parties:
 
 
 
Organization and offering expenses
(75,105
)
 
(56,888
)
Base management fees
(182,980
)
 
(165,338
)
Total return incentive fee
—

 
(847,863
)
Reimbursement of third-party operating expenses and pursuit costs
(11,170
)
 
(16,677
)
Distribution and shareholder servicing fees
(9,990
)
 
(6,690
)
Total due to related parties
(279,245
)
 
(1,093,456
)
Net due from related parties
$
328,385

 
$
278,564