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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Rental income $ 13,122,493 $ 8,475,850 $ 34,420,747 $ 11,673,877
Property expense recovery 3,210,929 1,207,078 7,745,296 1,609,685
Total revenue 16,333,422 9,682,928 42,166,043 13,283,562
Expenses:        
Asset management fees to affiliates 1,627,034 1,054,094 4,259,379 1,423,053
Property management fees to affiliates 260,188 102,892 659,436 128,915
Property operating 1,157,528 490,542 2,710,786 532,743
Property tax 1,663,871 977,218 4,368,324 1,354,520
Acquisition fees and expenses to non-affiliates 384,406 587,499 880,391 2,865,687
Acquisition fees and expenses to affiliates 3,324,577 2,128,671 6,323,670 9,649,739
General and administrative 689,951 542,844 2,108,884 1,344,533
Corporate operating expenses to affiliates 501,170 189,113 1,492,059 478,057
Depreciation and amortization 7,299,478 4,767,334 18,910,187 6,644,657
Total expenses 16,908,203 10,840,207 41,713,116 24,421,904
Income (loss) from operations (574,781) (1,157,279) 452,927 (11,138,342)
Interest income 171 29 1,358 261
Interest expense (2,162,115) (1,480,969) (7,157,334) (2,324,434)
Net loss (2,736,725) (2,638,219) (6,703,049) (13,462,515)
Distributions to redeemable preferred unit holders 0 (345,009) 0 (366,202)
Preferred units redemption charge 0 (279,740) 0 (279,740)
Less: Net loss attributable to noncontrolling interests 959 3,726 2,894 28,293
Net loss attributable to common stockholders $ (2,735,766) $ (3,259,242) $ (6,700,155) $ (14,080,164)
Net loss attributable to common stockholders, basic and diluted (usd per share) $ (0.05) $ (0.18) $ (0.15) $ (1.30)
Weighted average number of common shares outstanding, basic and diluted (shares) 57,062,151 17,732,284 45,283,343 10,791,168
Dividends declared per common share (usd per share) $ 0.14 $ 0.14 $ 0.42 $ 0.41