XML 46 R36.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Transactions - Construction Management Fee, Payment Upon Advisory Agreement Termination for Cause and Loans from Affiliates (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Aug. 15, 2018
Related Party Transactions            
Construction Management Fees $ 0 $ 8,083 $ 0 $ 30,870    
Due from related parties 83,655   83,655   $ 400,446  
Due to related parties 2,439,242   2,439,242   $ 1,308,424  
Unsecured loan            
Related Party Transactions            
Principal amount           $ 6,600,000
Interest rate           4.75%
Interest Expense 0 1,041 0 116,896    
TPG Construction, LLC            
Related Party Transactions            
Reimbursement of capital expenditure costs 250 $ 148,428 26,026 $ 694,004    
Due from related parties 20,655   20,655      
Procaccianti Hotel Advisors, LLC ("PHA")            
Related Party Transactions            
Principal amount $ 94,194   $ 94,194      
Long Term Applicable Federal Rate 1.62% 2.81% 1.66% 2.87%    
Interest Expense $ 383 $ 666 $ 1,172 $ 2,021    
Advisory agreement with PHA and Operating Partnership            
Related Party Transactions            
Stated value of A shares repurchased in Non-cause Advisory Agreement Termination $ 10.00   $ 10.00      
Non-compounded annual rate of accrued interest on deferred fees if agreement terminates for cause 6.00%   6.00%      
Advisory agreement with PHA and Operating Partnership | Procaccianti Hotel Advisors, LLC ("PHA")            
Related Party Transactions            
Due from related parties $ 76,148   $ 76,148