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Debt (Details) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revolving Credit Facility $ 54,000,000  
Total Principal 57,246,062  
Unamortized deferred financing costs (35,058)  
Total Debt 57,211,004  
Predecessor [Member]    
Revolving Credit Facility  
Total Principal   35,019,149
Unamortized deferred financing costs   (226,730)
Total Debt   34,792,419
Revolving Credit Facility [Member]    
Revolving Credit Facility [1] $ 54,000,000  
Interest Rate [1],[2] 1.76%  
Interest Rate, description [1],[2] LIBOR  
Maturity Date [1] Sep. 30, 2023  
Revolving Credit Facility [Member] | Predecessor [Member]    
Revolving Credit Facility [1]  
Vision Bank [Member]    
Mortgage loans payable [3] $ 1,522,672  
Interest Rate [3] 4.00%  
Maturity Date [3] Sep. 30, 2036  
Vision Bank [Member] | Predecessor [Member]    
Mortgage loans payable [3]   $ 15,636,243
Interest Rate, description   On September 8, 2021 and every five years thereafter, the interest rate will reset at a variable annual rate of Wall Street Journal Prime Rate (“Prime”) + 0.5%.
First Oklahoma Bank [Member]    
Mortgage loans payable [4] $ 378,005  
Interest Rate [4] 4.50%  
Maturity Date [4] Dec. 31, 2037  
First Oklahoma Bank [Member] | Predecessor [Member]    
Mortgage loans payable [4]   $ 389,599
Vision Bank - 2018 [Member]    
Mortgage loans payable [5] $ 900,385  
Interest Rate [5] 5.00%  
Maturity Date [5] Jan. 31, 2038  
Vision Bank - 2018 [Member] | Predecessor [Member]    
Mortgage loans payable [5]   936,750
Seller Financing [Member]    
Mortgage loans payable [6] $ 445,000  
Interest Rate [6] 6.00%  
Maturity Date [6] Jan. 31, 2025  
Seller Financing [Member] | Predecessor [Member]    
Mortgage loans payable [6]  
Atlanta Postal Credit Union [Member]    
Mortgage loans payable [7]  
Interest Rate [7]  
Atlanta Postal Credit Union [Member] | Predecessor [Member]    
Mortgage loans payable [7]   17,313,481
First Oklahoma Bank - 2018 [Member]    
Mortgage loans payable [8]  
Interest Rate [8]  
First Oklahoma Bank - 2018 [Member] | Predecessor [Member]    
Mortgage loans payable [8]   $ 743,076
[1] On September 27, 2019, the Company entered into a credit agreement (the "Credit Agreement") with People's United Bank, National Association, individually and as administrative agent, BMO Capital Markets Corp., as syndication agent, and certain other lenders. The Credit Agreement provides for our senior revolving Credit Facility with revolving commitments in an aggregate principal amount of $100.0 million, an accordion feature that permits the Company to borrow up to $200.0 million, subject to customary terms and conditions, and a maturity date of September 27, 2023. The interest rates applicable to loans under the Credit Facility are, at our option, equal to either a base rate plus a margin ranging from 0.7% to 1.4% per annum or LIBOR plus a margin ranging from 1.7% to 2.4% per annum, each based on a consolidated leverage ratio. In addition, the Company will pay, for the period through and including the calendar quarter ending March 31, 2020, an unused facility fee on the revolving commitments under the Credit Facility of 0.75% per annum for the first $100 million and 0.25% per annum for the portion of revolving commitments exceeding $100.0 million, and for the period thereafter, an unused facility fee of 0.25% per annum for the aggregate unused revolving commitments, with both periods utilizing calculations of daily unused commitments under the Credit Facility. During the year ended December 31, 2019, the Company incurred $0.1 million of unused fees related to the Credit Facility. The Company also incurred $ 1.5 million of lender and third-party fees, all of which were capitalized in "Prepaid expenses and other assets, net" on the Company's Consolidated Balance Sheets. During the year ended December 31, 2019, the Company wrote off $0.1 million of deferred financing costs. The Company's ability to borrow under the Credit Facility is subject to ongoing compliance with a number of customary affirmative and negative covenants. As of December 31, 2019, the Company was in compliance with all of the Credit Facility's debt covenants.
[2] As of December 31, 2019, the one-month LIBOR rate was 1.76%.
[3] As of December 31, 2018, the loan was collateralized by first mortgage liens on 26 properties and a personal guarantee of payment by Mr. Spodek. In connection with the IPO, the company repaid approximately $13.8 million of outstanding indebtedness and five properties remain collateralized under this loan as of December 31, 2019 with Mr. Spodek as the guarantor. On September 8, 2021 and every five years thereafter, the interest rate will reset at a variable annual rate of Wall Street Journal Prime Rate ("Prime") + 0.5%.
[4] The loan is collateralized by first mortgage liens on four properties and a personal guarantee of payment by Mr. Spodek. Interest rate resets on December 31, 2022 to Prime + 0.25%.
[5] The loan is collateralized by first mortgage liens on one property and a personal guarantee of payment by Mr. Spodek. Interest rate resets on January 31, 2023 to Prime + 0.5%.
[6] In connection with the acquisition of a property, the Company obtained seller financing secured by the property in the amount $0.4 million requiring five annual payments of principal and interest of $0.1 million with the first installment payable on January 2, 2021 based on a 6.0% interest rate per annum through January 2, 2025.
[7] In connection with the IPO, the company repaid approximately $17.1 million of outstanding indebtedness.
[8] In connection with the IPO, the company repaid approximately $0.7 million of outstanding indebtedness.