XML 40 R62.htm IDEA: XBRL DOCUMENT v3.20.1
RELATED PARTY TRANSACTIONS Additional Information (Details)
12 Months Ended
Dec. 31, 2019
USD ($)
property
Dec. 31, 2018
USD ($)
property
Related Party Transaction [Line Items]    
Due to related parties $ 630,820 $ 979,174
Property management fees percentage 1.50%  
Number of real estate properties under property management services | property 10 10
Leasing commissions and fees, percentage of rents 6.00%  
Leasing commission fee, renewal rate 3.00%  
Limitation as of average invested assets (as a percent) 2.00%  
Limitation as of net income (as a percent) 25.00% 25.00%
Hosting services agreement, term 3 years  
Advisor    
Related Party Transaction [Line Items]    
Financing coordination fees percentage 1.00%  
Subordinated participation fees percentage 30.00%  
Leasing Commission Fees    
Related Party Transaction [Line Items]    
Amount paid for related party transactions $ 0 $ 0
Waiver of asset management fees    
Related Party Transaction [Line Items]    
Monthly asset management fees waive percentage 0.025%  
Financing coordination fees    
Related Party Transaction [Line Items]    
Due to related parties $ 0 0
Amount paid for related party transactions $ 107,500 262,050
Property Selling Fee    
Related Party Transaction [Line Items]    
Related party transaction fees, percentage 3.00%  
Due from TIC    
Related Party Transaction [Line Items]    
Due to related parties $ 0 0
Amount paid for related party transactions 0 0
Reimbursable organizational and offering expenses    
Related Party Transaction [Line Items]    
Due to related parties 0 13,168
Amount paid for related party transactions 1,206,881 $ 1,503,062
Accrual organization and offering cost $ 5,429,105  
Reimbursable organizational and offering expenses | Sponsor    
Related Party Transaction [Line Items]    
Gross offering proceeds, percentage 3.00% 3.00%
Reimbursable organizational and offering expenses | Advisor    
Related Party Transaction [Line Items]    
Due to related parties $ 0 $ 0
Related party transaction fees, percentage 0.025%  
Payroll Expense Reimbursement from Sponsor    
Related Party Transaction [Line Items]    
Amount paid for related party transactions $ 373,251 875,100
Advisor fees, Acquisition fees    
Related Party Transaction [Line Items]    
Related party transaction fees, percentage 3.00%  
Asset Management Fees    
Related Party Transaction [Line Items]    
Due to related parties $ 0 0
Amount paid for related party transactions $ 2,777,021 2,004,760
Related party transaction fees, percentage 0.10%  
Expense reimbursements from Sponsor    
Related Party Transaction [Line Items]    
Due to related parties $ 0 0
Amount paid for related party transactions (332,337) (1,136,469)
Disposition Fees    
Related Party Transaction [Line Items]    
Amount paid for related party transactions $ 0 0
Related party transaction fees, percentage 6.00%  
Subordinated participation fees    
Related Party Transaction [Line Items]    
Due to related parties $ 0 839,050
Amount paid for related party transactions 0 839,050
Reimbursable operating expense    
Related Party Transaction [Line Items]    
Due to related parties 0 0
Amount paid for related party transactions 528,000 0
Secured Notes Payable | Board of Directors Chairman    
Related Party Transaction [Line Items]    
Due to related parties $ 630,820  
Related party transaction fees, percentage 10.00%  
Balloon payment due at maturity $ 437,862  
Secured Notes Payable, Note One | Board of Directors Chairman    
Related Party Transaction [Line Items]    
Balloon payment due at maturity 218,931  
Secured Notes Payable, Note Two | Board of Directors Chairman    
Related Party Transaction [Line Items]    
Balloon payment due at maturity $ 218,931  
Asset management fees    
Related Party Transaction [Line Items]    
Related party transaction fees, percentage 0.10%  
Maximum | Reimbursable organizational and offering expenses    
Related Party Transaction [Line Items]    
Amount paid for related party transactions $ 5,429,105  
Maximum | Advisor fees, Acquisition fees    
Related Party Transaction [Line Items]    
Related party transaction fees, percentage 6.00%  
Directors Not Including Executive Officers    
Related Party Transaction [Line Items]    
Payments to independent member of Company's board of directors for services rendered $ 372,500 167,835
Due to related parties $ 57,500 $ 0