Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Investment in real estate:    
Land $ 25,822,453 $ 17,785,001
Building 306,198,609 179,253,398
Site improvements 3,115,289 1,465,273
Tenant improvements 2,996,662 1,186,014
Real Estate Investment Property, at Cost, Total 338,133,013 199,689,686
Less: accumulated depreciation (6,520,555) (3,323,915)
Investment in real estate, net 331,612,458 196,365,771
Cash 12,033,797 19,671,131
Restricted cash 2,291,080 941,344
Tenant receivables 534,484 212,435
Escrow deposits 979,709 1,212,177
Acquired lease intangible assets, net 17,218,214 7,144,276
Deferred assets 1,867,010 704,537
Deferred financing costs, net 2,770,144 927,085
Other assets 88,695 140,374
Total assets 369,395,591 227,319,130
Liabilities:    
Accounts payable and accrued expenses 2,216,953 573,997
Dividends payable 3,700,936 3,604,037
Security deposits and other 2,444,842 719,592
Due to related parties, net 638,790 580,911
Acquired lease intangible liability, net 1,112,566 277,917
Notes payable to related parties 0 421,000
Notes payable, net of unamortized discount of $995,990 and $1,061,602 at June 30, 2017 and December 31, 2016, respectively 38,478,910 38,413,298
Revolving credit facility 144,500,000 27,700,000
Total liabilities 193,092,997 72,290,752
Stockholders' equity:    
Preferred stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock $0.001 par value, 500,000,000 shares authorized at June 30, 2017 and December 31, 2016, respectively; 21,105,675 and 17,605,675 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 21,106 17,606
Additional paid-in capital 202,513,240 171,997,396
Accumulated deficit (26,231,752) (16,986,624)
Total stockholders' equity 176,302,594 155,028,378
Total liabilities and stockholders' equity $ 369,395,591 $ 227,319,130