Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Intangible Assets and Liabilities [Abstract]

Schedule of intangible assets and liabilities

As of	Gross Asset (Liability)			Accumulated (Amortization)/ Accretion			Net Carrying Amount
June 30, 2020:
In-place lease intangibles	$	16,957,903		$	(8,699,508	)	$	8,258,395
Above-market leases		47,768			(25,178	)		22,590
Below-market leases		(10,327,315	)		2,687,426			(7,639,889)
December 31, 2019:
In-place lease intangibles	$	13,788,024		$	(6,472,157	)	$	7,315,867
Above-market leases		40,620			(18,496	)		22,124
Below-market leases		(8,672,301	)		2,071,182			(6,601,119	)

Schedule of future amortization

Year Ending December 31,	In-place lease intangibles		Above-market leases		Below-market leases
2020 – Remaining	$	1,945,917	$	5,889	$	(529,407	)
2021		2,968,481		6,717		(1,004,488	)
2022		1,549,204		5,774		(893,108	)
2023		917,586		3,139		(811,708	)
2024		452,078		1,071		(721,221	)
Thereafter		425,129		-		(3,679,957	)
Total	$	8,258,395	$	22,590	$	(7,639,889	)