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Consolidated and Combined Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (1,259,453) $ (30,718)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 1,969,299 612,135
Amortization of in-place intangibles 2,227,351 636,080
Write-off and amortization of deferred financing costs 219,861 5,035
Amortization of above/below market leases (609,562) (190,828)
Amortization of intangible liability (2,762)
Equity based compensation 1,248,278 190,343
Loss on extinguishment debt 185,586
Deferred rent receivable (53,691) (9,804)
Deferred rent expense payable 9,470 (44,156)
Deferred tax liability (65,895)
Changes in assets and liabilities:    
Rent and other receivables (280,987) (519,503)
Prepaid expenses and other assets (361,717) (117,106)
Due to affiliates 63,879
Accounts payable, accrued expenses and other 101,147 146,944
Net cash provided by operating activities 3,207,234 861,992
Cash flows from investing activities:    
Acquisition of real estate (33,212,115) (26,908,804)
Acquisition and other deposits (639,501) (280,000)
Capital improvements (341,446) (25,695)
Other investing activities (72,900)
Net cash used in investing activities (34,265,962) (27,214,499)
Cash flows from financing activities:    
Proceeds from secured borrowings 13,674,311
Repayments of secured borrowings (54,322) (32,165,494)
Proceeds from revolving credit facility 20,000,000
Repayments of revolving credit facility (6,530,944)
Proceeds from other financing activity 557,000
Repayments from other financing activity (191,597)
Net proceeds from issuance of shares 69,684,886
Other formation transactions (163,204)
Debt issuance costs (766,704)
Proceeds from issuance of shares 44,650
Shares withheld for payment of taxes on restricted share vesting (182,402)
Contributions from partners and members 2,068,252
Distributions and dividends (3,055,986) (1,587,664)
Other financing activities (9,203)
Net cash provided by financing activities 23,484,803 37,836,776
Net (decrease) increase in Cash and Escrows and Reserves (7,573,925) 11,484,269
Cash and Escrows and Reserves at the beginning of period 13,183,603
Cash and Escrow and Reserves at the end of period $ 5,609,678 12,346,144
Predecessor    
Cash flows from financing activities:    
Cash and Escrows and Reserves at the beginning of period   $ 861,875