Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of December 31, 2015 and 2014:

	As of
	December 31, 2015			December 31, 2014
Intangible Lease Assets:
Value of In-Place Leases, net	$	15,212,652		$	9,043,617
Value of Above Market In-Place Leases, net		1,291,560			330,424
Value of Intangible Leasing Costs, net		3,582,939			978,082
Sub-total Intangible Lease Assets		20,087,151			10,352,123
Intangible Lease Liabilities:
Value of Below Market In-Place Leases, net		(31,979,559	)		(669,693	)
Sub-total Intangible Lease Liabilities		(31,979,559	)		(669,693	)
Total Intangible Assets—Net	$	(11,892,408	)	$	9,682,430

Summary of Estimated Amortization Expense (Income)

The estimated future amortization expense (income) related to net intangible assets and liabilities is as follows:

Year Ending December 31,	Amount
2016	$	101,183
2017		22,354
2018		3,813
2019		(12,217	)
2020		(239,230	)
Thereafter		(11,768,311	)
Total	$	(11,892,408	)