Segment Disclosures (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Summary of Reportable Segments

The following table summarizes information for the reportable segments for the nine months ended September 30, 2018:

	Student Housing			Senior Housing			Corporate and Other			Total
Leasing and leasing related revenues	$	6,415,533		$	7,319,345		—			$	13,734,878
Other revenues	—				1,177,484		—				1,177,484
Property operating expenses		(3,106,101	)		(5,456,860	)	—				(8,562,961	)
Net operating income		3,309,432			3,039,969			-			6,349,401
Property operating expenses - affiliates		441,782			424,474		—				866,256
General and administrative	—			—				1,330,307			1,330,307
Depreciation		2,432,839			1,497,267			4,307			3,934,413
Intangible amortization expense		3,743,640			2,567,736		—				6,311,376
Acquisition expenses – affiliates	—				148,736		—				148,736
Other property acquisition expenses	—				304,483		—				304,483
Interest expense		1,606,050			2,504,035		—				4,110,085
Interest expense – debt issuance costs		51,094			489,310		—				540,404
Other	—				64,699			(696	)		64,003
Net loss	$	(4,965,973	)	$	(4,960,771	)	$	(1,333,918	)	$	(11,260,662	)

Summary of Total Assets by Segment

The following table summarizes our total assets by segment:

Segments	September 30, 2018
Student housing	$	96,670,106
Senior housing		172,221,432
Corporate and Other		8,500,811
Total assets	$	277,392,349