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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ 526,000 $ (40,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization (716,000) 0
Amortization of deferred loan costs 25,000 0
Loss on disposal of assets 6,000 0
Bad debt expense 70,000 0
Changes in operating assets and liabilities:    
Accrued rents and accounts receivable (383,000) 0
Receivables due from related party (632,000) 0
Escrows and acquisition deposits 1,496,000 0
Unamortized lease commissions and deferred legal cost (54,000) 0
Prepaid expenses and other assets (177,000) 0
Accounts payable and accrued expenses (1,695,000) 6,000
Payable due to related party 700,000 0
Tenants' security deposits 60,000 0
Net cash provided by (used in) operating activities 658,000 (34,000)
Cash flows from investing activities:    
Additions to real estate (106,000) 0
Net cash used in investing activities (106,000) 0
Cash flows from financing activities:    
Distributions paid to noncontrolling interest in Consolidated Partnership (179,000) 0
Repayments of notes payable (313,000) 0
Net cash used in financing activities (492,000) 0
Net change in cash and cash equivalents 60,000 (34,000)
Cash and cash equivalents at beginning of period 1,243,000 174,000
Cash and cash equivalents at end of period 1,303,000 140,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 646,000 0
Non cash investing activities:    
Additions to real estate contributed by related party $ 507,000 $ 0