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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 239,992 $ 24,574
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 976,710 791,632
Amortization of deferred financing costs 34,354 21,026
Amortization of deferred rent assets and liabilities, net (42,422) (64,146)
Allowance for doubtful accounts (13,083)  
Changes in operating assets and liabilities:    
Other assets 40,407 45,255
Accounts payable, accrued expenses and due to related parties (530,117) (756,342)
Other liabilities 3,527,927 203,307
Net cash provided by operating activities 4,233,768 265,306
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of new real estate (19,067,237) (19,869,405)
Capital expenditures on existing real estate (1,865,770) (398,064)
Decrease in restricted cash   132,741
Deposits on future acquisitions (200,000)  
Deposits applied against real estate investments (216,725)  
Deposits refunded 200,000 100,000
Net cash used in investing activities (21,149,732) (20,034,728)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Offering costs (215,006) (36,766)
Borrowings from mortgage notes payable 15,531,000 12,552,680
Repayments on mortgage note payable (187,238) (103,238)
Net borrowings from line of credit 2,700,000 7,800,000
Payment of financing fees (22,966) (68,116)
Distributions paid on common stock. (1,199,153) (814,140)
Distributions paid to non-controlling interests in Operating Partnership (29,835)  
Net cash provided by financing activities 16,576,802 19,330,420
NET DECREASE IN CASH AND CASH EQUIVALENTS (339,162) (439,002)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,532,522 2,619,342
CASH AND CASH EQUIVALENTS AT END OF PERIOD 2,193,360 2,180,340
NON-CASH INVESTING AND FINANCING INFORMATION:    
Issuance of non-controlling interests in operating partnership in conjunction with acquisitions 6,451,853  
Real estate additions included in Accounts payable, accrued expenses and due to related parties 3,188,897 1,069,965
Real estate additions included in Other liabilities 5,935 700,000
Common stock offering and OP Unit issuance costs included in Accounts payable, accrued expenses and due to related parties 36,475  
Financing fees included in Accounts payable, accrued expenses and due to related parties $ 27,079 $ 6,194