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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
NOTE 8. SUBSEQUENT EVENTS
 
The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued.
 
Distributions
 
On April 10, 2017, the Company’s board of directors declared dividends based on daily record dates for the period March 1, 2017 through March 31, 2017 at a rate of $0.00188172 per share per day, or $241,376, on the outstanding shares of the Company’s common stock, which the Company paid on April 10, 2017. Of the $241,376 dividend, $196,091 was reinvested through the Company’s dividend reinvestment plan.
 
On May 10, 2017, the Company’s board of directors declared dividends based on daily record dates for the period April 1, 2017 through April 30, 2017 at a rate of $0.0019444 per share per day, or $274,851, on the outstanding shares of the Company’s common stock, which the Company paid on May 10, 2017. Of the $274,851 dividend, $225,969 was reinvested through the Company’s dividend reinvestment plan.
 
Offering Status
 
Through May 11, 2017, the Company had sold 5,167,876 shares of common stock in the Offering, for aggregate gross offering proceeds of $51,678,761, including 93,378 shares of common stock sold under its distribution reinvestment plan for aggregate gross offering proceeds of $933,783.
 
Acquisitions
 
On April 17, 2017, through a wholly owned subsidiary, the Company acquired a 70,960 square foot retail property in Bedford, Texas, which it leases to Calculated Risk Bedford, LP dba Texas Harley-Davidson (“Harley”) for the operation of a Harley Davidson dealership. The seller is not affiliated with the Company or the Advisor. The aggregate purchase price for the Harley property was $12,750,000 plus acquisition fees and closing costs of $428,284.
 
Redeemable common stock
 
For the period from April 1, 2017 through May 11, 2017, the Company redeemed 38,609 shares for $386,092.