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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (11,260,662) $ (4,519,817)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,786,193 1,844,525
Increase (decrease) in cash, cash equivalents, and restricted cash from changes in assets and liabilities:    
Other assets (823,490) (162,091)
Accounts payable and accrued liabilities 2,758,122 839,144
Due to affiliates 534,658 1,374,571
Net cash provided by (used in) operating activities 1,994,821 (623,668)
Cash flows from investing activities:    
Purchase of real estate (170,123,441) (103,494,500)
Additions to real estate (303,285)  
Net cash used in investing activities (170,426,726) (103,494,500)
Cash flows from financing activities:    
Proceeds from issuance of non-revolving mortgage debt 110,105,000 53,000,000
Proceeds from issuance of KeyBank Bridge Loans 51,500,000 39,896,363
Principal payments of KeyBank Bridge Loans (10,148,136) (22,296,363)
Debt issuance costs (2,349,937) (1,228,799)
Issuance of preferred equity in our Operating Partnership 6,301,116 5,650,000
Gross proceeds from issuance of common stock 16,798,588 40,063,542
Private offering costs (1,535,689) (3,576,640)
Public offering costs (369,831)  
Distributions paid to common stockholders (2,989,432) (47,158)
Distributions paid to preferred unitholders in our Operating Partnership (9,337) (136,282)
Issuance of noncontrolling interest in our Operating Partnership   199,000
Net cash provided by financing activities 167,302,342 111,523,663
Net change in cash, cash equivalents, and restricted cash (1,129,563) 7,405,495
Cash, cash equivalents, and restricted cash, beginning of period 10,371,998 2,000
Cash, cash equivalents, and restricted cash, end of period 9,242,435 7,407,495
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 3,898,287 516,651
Debt issuance costs included in due to affiliates   240,400
Debt issuance costs included in accounts payable and accrued liabilities 16,095 59,500
Deposits applied to purchase of real estate 1,000,000  
Acquisition costs included in due to affiliates 1,980,000  
Offering costs included in accounts payable and accrued liabilities or due to affiliates 588,161 643,768
Non-cash preferred equity issuance in our Operating Partnership 63,011 1,072,055
Distributions payable 653,431 190,761
Issuance of shares pursuant to distribution reinvestment plan 1,783,686 $ 22,257
Public offering costs previously included in other assets $ 722,840