Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

Note 11. Subsequent Events

Public Offering Status

As of November 5, 2018, we hadsold approximately 0.1 million shares of Class A Common stock, approximately 5,000 shares of Class T Common stock, and approximately 32,000 shares of Class W Common stock for gross offering proceeds of $1.2 million in our Primary Offering.

Memory Care Expansion

On October 9, 2018, we received approval from the lender under the Freddie Mac Portland Loan to commence construction on the Memory Care Expansion at the Portland Property. In connection with this approval: (i) we drew approximately $2.5 million under the Portland Delayed Draw Commitment in order to fund certain construction reserves required by our lender and (ii) we executed a guaranty of completion which provides such lender with an absolute, unconditional and irrevocable guaranty by us for the completion of the construction.