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Real Estate Assets (Tables)
12 Months Ended
Dec. 31, 2018
Real Estate [Abstract]  
Summary of Carrying Value of Real Estate Assets

The carrying value of the Company’s real estate assets is summarized as follows:

 

 

 

December 31,

2018

 

 

December 31,

2017

 

Buildings, improvements, and equipment, at cost:

 

 

 

 

 

 

 

 

Beginning balance

 

$

51,415,779

 

 

$

51,156,701

 

Improvements and equipment additions

 

 

93,829

 

 

 

259,078

 

Newly developed facilities opened for operation

 

 

369,719

 

 

 

 

Ending balance

 

 

51,879,327

 

 

 

51,415,779

 

Land:

 

 

 

 

 

 

 

 

Beginning balance

 

 

5,493,814

 

 

 

5,493,814

 

Ending balance

 

 

5,493,814

 

 

 

5,493,814

 

Accumulated depreciation:

 

 

 

 

 

 

 

 

Beginning balance

 

 

(2,257,862

)

 

 

(875,447

)

Depreciation expense

 

 

(1,398,358

)

 

 

(1,382,415

)

Ending balance

 

 

(3,656,220

)

 

 

(2,257,862

)

Construction in progress:

 

 

 

 

 

 

 

 

Beginning balance

 

 

393,832

 

 

 

 

Current development

 

 

70,703

 

 

 

393,832

 

Newly developed facilities opened for operation

 

 

(369,719

)

 

 

 

Ending balance

 

 

94,816

 

 

 

393,832

 

Total real estate assets

 

$

53,811,737

 

 

$

55,045,563