RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2014

Related Party Transaction, Due from (to) Related Party [Abstract]

Summarized below are the related-party transactions

Summarized separately below are the Prior Advisor and Advisor related party costs incurred by the Company for the three and six months ended June 30, 2014 and 2013, respectively, and payable as of June 30, 2014 and December 31, 2013:

Prior Advisor Fees	Incurred				Incurred				Payable as of
	Three Months Ended June 30,				Six Months Ended June 30,					June 30,	December 31,
Expensed	2014		2013		2014		2013		2014		2013
Reimbursement of operating exp.	$	-	$	171,000	$	-	$	73,000	$	-	$	-
Acquisition fees		-		-		-		13,000		-		-
Property management fees		-		347,000		-		691,000		163,000		163,000
Guaranty fees		5,000		5,000		10,000		19,000		27,000		17,000
Disposition fees		-		-		-		924,000		-		-
	$	5,000	$	523,000	$	10,000	$	1,720,000	$	190,000	$	180,000
Capitalized
Leasing commission fees		-		19,000		-		143,000		-		-
	$	-	$	19,000	$	-	$	143,000	$	-	$	-
Additional Paid-In Capital
Selling commissions	$	-	$	-	$	-	$	32,000	$	-	$	-
Dealer manager fees		-		-		-		15,000		-		-
Organization and offering costs		-		-		-		7,000		-		-
	$	-	$	-	$	-	$	54,000	$	-	$	-

Advisor Fees	Incurred				Incurred				Payable as of
	Three Months Ended June 30,				Six Months Ended June 30,					June 30,	December 31,
Expensed	2014		2013		2014		2013		2014		2013
Consulting and accounting fees	$	-	$	255,000	$	-	$	480,000	$	-	$	-
Asset management fees		314,000		-		643,000		-		105,000		179,000
Reimbursement of operating exp.		15,000		-		31,000		-		-		5,000
Property management fees		203,000		-		423,000		-		138,000		78,000
Disposition fees		-		-		211,000		-		-		-
	$	532,000	$	255,000	$	1,308,000	$	480,000	$	243,000	$	262,000
Capitalized
Leasing commission fees	$	32,000	$	-	$	65,000	$	-	$	1,000	$	-
Legal leasing fees		75,000		-		100,000		-		9,000		-
Construction management fees		9,000		-		9,000		-		2,000		-
	$	116,000	$	-	$	174,000	$	-	$	12,000	$	-

Selling commissions and dealer manager fees as an offset to additional paid-in capital incurred

The Company incurred selling commissions and dealer manager fees during the following periods:

	Three Months Ended June 30,				Six Months Ended June 30,				Inception Through
	2014		2013		2014		2013		June 30, 2014
Selling Commissions	$	-	$	-	$	-	$	32,000	$	6,905,000
Dealer Manager Fee		-		-		-		15,000		3,081,000
	$	-	$	-	$	-	$	47,000	$	9,986,000