CONSOLIDATED BALANCE SHEETS - USD ($)
|
Sep. 30, 2017 |
Dec. 31, 2016 |
| Assets |
|
|
| Real estate assets, net |
$ 55,031,125
|
$ 55,775,068
|
| Cash and cash equivalents |
2,506,811
|
2,911,640
|
| Restricted cash |
89,713
|
54,054
|
| Investments in securities |
1,452,173
|
1,473,950
|
| Accounts receivable |
100,324
|
157,607
|
| Prepaid expenses and other assets |
320,928
|
265,045
|
| Intangible assets, net |
33,183
|
317,140
|
| Goodwill |
694,121
|
694,121
|
| Total assets |
60,228,378
|
61,648,625
|
| Liabilities and equity |
|
|
| Note payable |
19,406,797
|
19,374,971
|
| Accounts payable and accrued expenses |
1,904,483
|
1,723,458
|
| Total liabilities |
21,311,280
|
21,098,429
|
| Commitments and contingencies |
|
|
| Equity |
|
|
| Common stock, $0.01 par value, 19,900,000 shares authorized; 7,619,469 and 7,619,469 issued and outstanding at September 30, 2017 and December 31, 2016, respectively |
76,195
|
76,195
|
| Series A participating preferred stock, $0.01 par value, 100,000 shares authorized: zero shares issued and outstanding |
|
|
| Additional paid in capital |
33,881,863
|
33,881,863
|
| Accumulated comprehensive income |
696,686
|
718,463
|
| Retained earnings |
4,262,354
|
5,873,675
|
| Total equity |
38,917,098
|
40,550,196
|
| Total liabilities and equity |
$ 60,228,378
|
$ 61,648,625
|