Hartman Short Term Income Properties XX (HARXX) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Aug. 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	000-53912
Entity Registrant Name	HARTMAN SHORT TERM INCOME PROPERTIES XX, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-3455189
Entity Address, Address Line One	2909 Hillcroft
Entity Address, Address Line Two	Suite 420
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77057
City Area Code	713
Local Phone Number	467-2222
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Smaller Reporting Company	true
Emerging Growth Company	true
Entity Shell Company	false
Extended Transition Period	true
Entity Common Stock, Shares Outstanding		18,417,687
Amendment Flag	false
Entity Central Index Key	0001446687
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Real estate assets, at cost	$ 599,733	$ 594,569
Accumulated depreciation and amortization	131,654	117,652
Real estate assets, net	468,079	476,917
Cash and cash equivalents	132	1,033
Restricted cash	21,782	26,078
Accrued rent and accounts receivable, net	16,228	12,576
Notes receivable - related party	16,537	17,288
Deferred leasing commission costs, net	11,584	10,790
Goodwill	250	250
Prepaid expenses and other assets	3,020	735
Due from related parties	537	2,130
Investment in affiliate	8,978	8,978
Total assets	547,127	556,775
Liabilities:
Notes payable, net	306,624	303,039
Accounts payable and accrued expenses	16,519	23,444
Tenants' security deposits	5,114	5,286
Total liabilities	328,257	331,769
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, 200,000,000 convertible, non-voting shares authorized, 1,000 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	0	0
Common stock, $0.001 par value, 750,000,000 authorized, 18,417,687 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	18	18
Additional paid-in capital	174,019	174,019
Accumulated distributions and net loss	(113,373)	(109,406)
Total stockholders' equity	60,664	64,631
Noncontrolling interests in subsidiary	158,206	160,375
Total equity	218,870	225,006
Total liabilities and equity	$ 547,127	$ 556,775

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	1,000	1,000
Preferred stock, shares outstanding (in shares)	1,000	1,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	18,417,687	18,417,687
Common stock, shares outstanding (in shares)	18,417,687	18,417,687

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues
Rental revenues	$ 18,723	$ 17,114	$ 37,443	$ 35,343
Tenant reimbursements and other revenues	3,326	2,269	7,745	7,216
Total revenues	22,049	19,383	45,188	42,559
Expenses (income)
Property operating expenses	5,014	5,392	11,959	13,010
Asset management fees	440	440	880	880
Real estate taxes and insurance	3,598	3,077	6,768	6,234
Depreciation and amortization	7,020	6,634	14,002	13,664
General and administrative	1,082	1,486	2,259	2,663
Interest expense	2,664	3,523	5,682	7,192
Interest and dividend income	(475)	(238)	(952)	(513)
Total expenses, net	19,343	20,314	40,598	43,130
Net income (loss)	2,706	(931)	4,590	(571)
Net income (loss) attributable to noncontrolling interests	1,398	(688)	2,114	(663)
Net income (loss) attributable to common stockholders	$ 1,308	$ (243)	$ 2,476	$ 92
Net income (loss) attributable to common stockholders per share (in dollars per share)	$ 0.07	$ (0.01)	$ 0.13	$ 0.01
Weighted average number of common shares outstanding, basic and diluted (in shares)	18,418	18,418	18,418	18,182

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Distributions and Net Loss	Total Stockholders' Equity	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2018		1	17,712
Beginning balance at Dec. 31, 2018	$ 248,481	$ 0	$ 18	$ 165,084	$ (95,162)	$ 69,940	$ 178,541
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares (in shares)			6
Issuance of common shares	76			76		76
Purchase of noncontrolling interest (in shares)			700
Purchase of non-controlling interest	(68)			8,790		8,790	(8,858)
Dividends and distributions (cash)	(10,648)				(6,366)	(6,366)	(4,282)
Net income (loss)	(571)				92	92	(663)
Ending balance (in shares) at Jun. 30, 2019		1	18,418
Ending balance at Jun. 30, 2019	237,270	$ 0	$ 18	173,950	(101,436)	72,532	164,738
Beginning balance (in shares) at Mar. 31, 2019		1	18,418
Beginning balance at Mar. 31, 2019	243,667	$ 0	$ 18	174,056	(97,968)	76,106	167,561
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares	(106)			(106)		(106)
Dividends and distributions (cash)	(5,360)				(3,225)	(3,225)	(2,135)
Net income (loss)	(931)				(243)	(243)	(688)
Ending balance (in shares) at Jun. 30, 2019		1	18,418
Ending balance at Jun. 30, 2019	237,270	$ 0	$ 18	173,950	(101,436)	72,532	164,738
Beginning balance (in shares) at Dec. 31, 2019		1	18,418
Beginning balance at Dec. 31, 2019	225,006	$ 0	$ 18	174,019	(109,406)	64,631	160,375
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and distributions (cash)	(10,726)				(6,443)	(6,443)	(4,283)
Net income (loss)	4,590				2,476	2,476	2,114
Ending balance (in shares) at Jun. 30, 2020		1	18,418
Ending balance at Jun. 30, 2020	218,870	$ 0	$ 18	174,019	(113,373)	60,664	158,206
Beginning balance (in shares) at Mar. 31, 2020		1	18,418
Beginning balance at Mar. 31, 2020	221,529	$ 0	$ 18	174,019	(111,461)	62,576	158,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and distributions (cash)	(5,365)				(3,220)	(3,220)	(2,145)
Net income (loss)	2,706				1,308	1,308	1,398
Ending balance (in shares) at Jun. 30, 2020		1	18,418
Ending balance at Jun. 30, 2020	$ 218,870	$ 0	$ 18	$ 174,019	$ (113,373)	$ 60,664	$ 158,206

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ 4,590	$ (571)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock based compensation	38	38
Depreciation and amortization	14,002	13,664
Deferred loan and lease commission costs amortization	1,247	1,138
Bad debt provision (recovery), net	23	(101)
Changes in operating assets and liabilities:
Accrued rent and accounts receivable	(3,675)	(1,552)
Deferred leasing commissions	(1,534)	(1,623)
Prepaid expenses and other assets	(2,285)	(10,984)
Accounts payable and accrued expenses	(9,017)	(8,411)
Due to/from related parties	1,593	261
Tenants' security deposits	(172)	185
Net cash provided by (used in) operating activities	4,810	(7,956)
Cash flows from investing activities:
Acquisition deposits	0	529
Repayment of note receivable - related party	751	300
Investment in affiliate	0	(10,546)
Lender required reserves	0	10,273
Additions to real estate	(5,164)	(5,158)
Net cash used in investing activities	(4,413)	(4,602)
Cash flows from financing activities:
Distributions to common stockholders	(6,445)	(6,406)
Distributions to non-controlling interest	(3,646)	(4,282)
Borrowing from affiliate	3,800	0
Repayment under insurance premium finance note	(1,407)	(787)
Repayments under term loan notes	(722)	(7,791)
Borrowings under insurance premium finance note	2,826	1,576
Payments of deferred loan costs	0	(72)
Net cash used in by financing activities	(5,594)	(17,762)
Net change in cash and cash equivalents and restricted cash	(5,197)	(30,320)
Cash and cash equivalents and restricted cash, beginning of period	27,111	51,476
Cash and cash equivalents and restricted cash, end of period	21,914	21,156
Supplemental cash flow information:
Cash paid for interest	5,023	6,654
Supplemental disclosures of non-cash investing and financing activities:
Value of Director's stock compensation shares issued	0	76
Value of Common shares issued to acquire non-controlling interest	0	8,782
Acquisition of non-controlling interest	$ 0	$ (8,858)

Organization and Business

Organization and Business	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business Hartman Short Term Income Properties XX, Inc. (the “Company”), is a Maryland corporation formed on February 5, 2009. The Company elected to be treated as a real estate investment trust (“REIT”) beginning with the taxable year ending December 31, 2011. As used herein, the “Company,” “we,” “us,” or “our”refer to Hartman Short Term Income Properties XX, Inc. and its consolidated subsidiaries, including Hartman XX Limited Partnership, a Texas limited partnership (the “Operating Partnership”), except where context otherwise requires. On July 19, 2018, we entered into a limited liability company agreement with our affiliates Hartman Income REIT, Inc. (“HIREIT”), Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”) and Hartman vREIT XXI, Inc. (“vREIT XXI”) to form Hartman SPE, LLC ("SPE LLC"), a special purpose entity. On October 1, 2018, SPE LLC, as borrower, and Goldman Sachs Mortgage Company entered into a term loan agreement pursuant to which the lender made a term loan to SPE LLC in the principal amount of $259,000,000. Contemporaneously therewith and together with our affiliates HIREIT, Hartman XIX and vREIT XXI, we contributed a total of 39 commercial real estate properties ("Properties") to SPE, LLC, subject to the then existing mortgage indebtedness encumbering the Properties, in exchange for membership interests in SPE LLC. Proceeds of the Loan were immediately used to extinguish the existing mortgage indebtedness encumbering the Properties. Substantially all of our business is conducted through our wholly owned subsidiary, the Operating Partnership, and SPE LLC. Our wholly-owned subsidiary, Hartman XX REIT GP LLC, a Texas limited liability company, is the sole general partner of the Operating Partnership. We are the sole limited partner of the Operating Partnership. Our wholly-owned subsidiary, Hartman SPE Management, LLC ("SPE Management") is the manager of SPE LLC. Our single member interests in our limited liability company subsidiaries are owned by the Operating Partnership or its wholly owned subsidiaries. Subject to certain restrictions and limitations, Hartman Advisors LLC ("Advisor") is responsible for managing our affairs on a day-to-day basis and for identifying and making acquisitions and investments on our behalf pursuant to an advisory agreement (the “Advisory Agreement”) by and among the Company and Advisor. Management of the Company’s properties and the Properties, is provided pursuant to property management agreements with Hartman Income REIT Management, Inc. (the "Property Manager"), a wholly-owned subsidiary of HIREIT. As of June 30, 2020 and 2019, the Company owned 43 commercial properties comprising approximately 6.7 million square feet plus three pad sites, all located in Texas. As of June 30, 2020 and 2019, the Company owned 15 properties located in Richardson, Arlington and Dallas, Texas, 25 properties located in Houston, Texas and three properties located in San Antonio, Texas. On July 21, 2017, the Company and Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”), entered into an agreement and plan of merger (the “XIX Merger Agreement”). On July 21, 2017, as subsequently modified on May 8, 2018, the Company, the Operating Partnership, Hartman Income REIT, Inc. (“HIREIT”) and Hartman Income REIT Operating Partnership LP, the operating partnership of HIREIT, (“HIROP”), entered into an agreement and plan of merger (the “HIREIT Merger Agreement,” and together with the XIX Merger Agreement, the “Merger Agreements”). On May 14, 2020, the Merger Agreements were approved by the respective company shareholders. The effective date of the Mergers for financial reporting is July 1, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements included in this report are unaudited; however, amounts presented in the consolidated balance sheet as of December 31, 2019 are derived from our audited consolidated financial statements as of that date. The unaudited consolidated financial statements as of June 30, 2020 have been prepared by the Company in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-Q and Regulation S-X, on a basis consistent with the annual audited consolidated financial statements. The consolidated financial statements presented herein reflect all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the financial position of the Company as of June 30, 2020, and the results of consolidated operations for the three and six months ended June 30, 2020 and 2019, the consolidated statements of stockholders’ equity for the three and six months ended June 30, 2020 and 2019 and the consolidated statements of cash flows for the six months ended June 30, 2020 and 2019. The results for the six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020. The consolidated financial statements herein are condensed and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. These unaudited consolidated financial statements include the accounts of the Company, the Operating Partnership and its subsidiaries, and Hartman SPE, LLC. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents on the accompanying consolidated balance sheets include all cash and liquid investments with maturities of three months or less. Cash and cash equivalents as of June 30, 2020 and December 31, 2019 consisted of demand deposits at commercial banks. We maintain accounts which may from time to time exceed federally insured limits. We have not experienced any losses in these accounts and believe that the Company is not exposed to any significant credit risk and regularly monitors the financial stability of these financial institutions. Restricted Cash Restricted cash on the accompanying consolidated balance sheets consists of amounts escrowed for future real estate taxes, insurance, capital expenditures and debt service, as required by certain of our mortgage debt agreements. Financial Instruments The accompanying consolidated balance sheets include the following financial instruments: cash and cash equivalents, restricted cash, accrued rent and accounts receivable, accounts payable and accrued expenses and balances due to/due from related parties, as well as related party notes receivable. The Company considers the carrying value of these financial instruments to approximate their respective fair values due to their short-term nature. Disclosure about the fair value of financial instruments is based on relevant information available as of June 30, 2020 and December 31, 2019. Revenue Recognition The Company’s leases are accounted for as operating leases. Certain leases provide for tenant occupancy during periods for which no rent is due and/or for increases or decreases in the minimum lease payments over the terms of the leases. Revenue is recognized on a straight-line basis over the terms of the individual leases. Revenue recognition under a lease begins when the tenant takes possession of or controls the physical use of the leased space. When the Company acquires a property, the term of existing leases is considered to commence as of the acquisition date for purposes of this calculation. The Company’s accrued rents are included in accrued rent and accounts receivable, net. The Company will defer the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Additionally, cost recoveries from tenants are included in the tenant reimbursements and other revenues line item in the consolidated statements of operations in the period the related costs are incurred. Allocation of Purchase Price of Acquired Assets Upon the acquisition of real properties, it is the Company’s policy to allocate the purchase price of properties to acquired tangible assets, consisting of land and buildings, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and leasehold improvements and value of tenant relationships, based in each case on their fair values. The Company utilizes internal valuation methods to determine the fair values of the tangible assets of an acquired property (which includes land and buildings). The fair values of above-market and below-market in-place lease values, including below-market renewal options for which renewal has been determined to be reasonably assured, are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) an estimate of fair market lease rates for the corresponding in-place leases and below-market renewal options, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease. The above-market and below-market lease and renewal option values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental revenues over the remaining expected terms of the respective leases. The fair values of in-place leases include direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs and are estimated based on independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are included in intangible lease assets and are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. Customer relationships are valued based on expected renewal of a lease or the likelihood of obtaining a particular tenant for other locations. These intangibles are included in real estate assets in the consolidated balance sheets and are being amortized to expense over the remaining term of the respective leases. The determination of the fair values of the assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, discount rates and other variables. The use of inappropriate estimates would result in an incorrect assessment of the purchase price allocations, which could impact the amount of the Company’s reported net income (loss). Real Estate Joint Ventures and Partnerships To determine the method of accounting for partially owned real estate joint ventures and partnerships, management determines whether an entity is a variable interest entity (“VIE") and, if so, determines which party is the primary beneficiary by analyzing whether we have both the power to direct the entity’s significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits. Significant judgments and assumptions inherent in this analysis include the design of the entity structure, the nature of the entity’s operations, future cash flow projections, the entity’s financing and capital structure, and contractual relationships and terms. We consolidate a VIE when we have determined that we are the primary beneficiary. Primary risks associated with our involvement with our VIEs include the potential funding of the entities’ debt obligations or making additional contributions to fund the entities’ operations or capital activities. Partially owned, non-variable interest real estate joint ventures and partnerships over which we have a controlling financial interest are consolidated in our consolidated financial statements. In determining if we have a controlling financial interest, we consider factors such as ownership interest, authority to make decisions, kick-out rights and substantive participating rights. Partially owned real estate joint ventures and partnerships where we do not have a controlling financial interest, but have the ability to exercise significant influence, are accounted for using the equity method. Management continually analyzes and assesses reconsideration events, including changes in the factors mentioned above, to determine if the consolidation or equity method treatment remains appropriate. Depreciation and amortization Depreciation is computed using the straight-line method over the estimated useful lives of 5 to 39 years for buildings and improvements. Tenant improvements are depreciated using the straight-line method over the lesser of the life of the improvement or the remaining term of the lease. In-place leases are amortized using the straight-line method over the weighted average years’ remaining calculated on terms of all of the leases in-place when acquired. Impairment The Company reviews its real estate assets for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of the assets, including accrued rental income, may not be recoverable through operations. The Company determines whether an impairment in value has occurred by comparing the estimated future cash flows (undiscounted and without interest charges), including the estimated residual value of the property, with the carrying cost of the property. If impairment is indicated, a loss will be recorded for the amount by which the carrying value of the property exceeds its fair value. Management has determined that there is no impairment indicated in the carrying value of our real estate assets as of June 30, 2020 and December 31, 2019. Accrued Rent and Accounts Receivable Accrued rent and accounts receivable include base rents, tenant reimbursements and receivables attributable to recording rents on a straight-line basis. An allowance for the uncollectible portion of accrued rent and accounts receivable is determined based upon customer credit-worthiness (including expected recovery of our claim with respect to any tenants in bankruptcy), historical bad debt levels, and current economic trends. Deferred Leasing Commission Costs Leasing commissions are amortized using the straight-line method over the term of the related lease agreements. Goodwill GAAP requires the Company to test goodwill for impairment at least annually or more frequently whenever events or circumstances occur indicating goodwill might be impaired. The Company applies a one-step quantitative test to determine if the estimated fair value is less than the carrying amount. If the carrying amount exceeds the estimated fair value, the Company will record a goodwill impairment equal to such excess, not to exceed the total amount of goodwill. No goodwill impairment has been recognized in the accompanying consolidated financial statements. Noncontrolling Interests Noncontrolling interests is the portion of equity in a subsidiary not attributable to a parent. The ownership interests not held by the parent are considered noncontrolling interests. Accordingly, the Company has reported noncontrolling interests in equity on the consolidated balance sheets but separate from the Company's equity. On the consolidated statements of operations, subsidiaries are reported at the consolidated amount, including both the amount attributable to the Company and noncontrolling interests. Stock-Based Compensation The Company follows Accounting Standards Codification ("ASC") 718 - Compensation - Stock Compensation, with regard to issuance of stock in payment of services. ASC 718 requires that compensation cost relating to share-based payment transactions be recognized in the consolidated financial statements. The compensation cost is measured based on the estimated grant date fair value, as of the grant date of the Company’s common stock, of the equity or liability instruments issued. Stock-based compensation expense are recorded over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. Income Taxes The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2011. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and will continue to operate in such a manner as to qualify for treatment as a REIT. For the three and six months ended June 30, 2020 and 2019, the Company incurred net income (loss) of $2,706,000 and $(931,000), respectively, and $4,590,000 and $(571,000), respectively. The Company formed a taxable REIT subsidiary which may generate future taxable income which may be offset by the net loss carry forward. The Company considers that any deferred tax benefit and corresponding deferred tax asset which may be recorded in light of the net loss carry forward would be properly offset by an equal valuation allowance. Accordingly, no deferred tax benefit or deferred tax asset has been recorded in the consolidated financial statements. The Company is required to recognize in its consolidated financial statements the financial effects of a tax position only if it is determined that it is more likely than not that the tax position will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management has reviewed the Company’s tax positions and is of the opinion that material positions taken by the Company would more likely than not be sustained upon examination. Accordingly, the Company has not recognized a liability related to uncertain tax positions. Income Per Share The computations of basic and diluted income per common share are based upon the weighted average number of common shares outstanding and potentially dilutive securities. The Company’s potentially dilutive securities include preferred shares that are convertible into the Company’s common stock. As of June 30, 2020 and 2019, there were no shares issuable in connection with these potentially dilutive securities. These potentially dilutive securities were excluded from the computations of diluted net income per share for the three and six months ended June 30, 2020 and 2019 because no shares are issuable. Concentration of Risk The geographic concentration of the Company’s real estate assets makes it susceptible to adverse economic developments in the State of Texas. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, relocation of businesses, increased competition or any other changes, could adversely affect the Company’s operating results and its ability to make distributions to stockholders. Going Concern Evaluation Pursuant to ASU 2014-15, “Presentation of Financial Statements – Going Concern,” management is required to evaluate the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. The Hartman SPE, LLC loan agreement (the “SASB Loan”) has an initial maturity date of October 9, 2020. The SASB Loan provides for three successive one-year maturity date extensions. In order to exercise each successive one-year extension options, the Hartman SPE, LLC must meet five conditions in order to extend the maturity date without any further qualification. One of the five conditions for extension of term is that Hartman SPE must have a debt yield, as defined, of 12.5% or greater as of June 30, 2020. As of June 30, 2020 and December 31, 2019, Hartman SPE has a debt yield of 13.25% and 13.29%, respectively. During the period from August 9, 2020 to September 9, 2020, management will deliver to the lender a written notice of one-year extension which will include (i) representation that no event of default or monetary default exists as of the date of such notice or will exist as of October 9, 2020; (ii) the Company shall have obtained an interest rate cap agreement; (iii) the debt yield is greater than 12.50%; and (iv) the Company shall pay all reasonable costs incurred in connection with the one-year extension. Management has concluded that there is no substantial doubt about the Company's ability to continue as a going concern within one year of the issuance date of these consolidated financial statements due to the loan maturity of the SPE Loan. Reclassification Certain items in the comparative consolidated financial statements have been reclassified to conform to the presentation adopted in the current period. The Consolidated Statement of Cash Flows presented for the six months ended June 30, 2019 was adjusted to present cash and cash equivalents and restricted cash, as restricted cash was previously reported as part of prepaid expenses and other assets. Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The updated guidance requires measurement and recognition of expected credit losses for financial assets, including trade and other receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This is different from the current guidance as this will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets. Generally, the pronouncement requires a modified retrospective method of adoption. This guidance is effective for fiscal years and interim periods within those years beginning after January 2023, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements when adopted.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2020
Real Estate [Abstract]
Real Estate	Real Estate The Company’s real estate assets consisted of the following, in thousands: June 30, 2020 December 31, 2019 Land $ 145,050 $ 145,050 Buildings and improvements 353,893 348,729 In-place lease value intangible 100,790 100,790 599,733 594,569 Less: accumulated depreciation and amortization (131,654) (117,652) Total real estate assets $ 468,079 $ 476,917 Depreciation expense for the three months ended June 30, 2020 and 2019 was $4,355,000 and $3,908,000, respectively. Depreciation expense for the six months ended June 30, 2020 and 2019 was $8,672,000 and $8,221,000, respectively. Amortization expense of in-place lease value intangible was $2,665,000 and $2,726,000 for the three months ended June 30, 2020 and 2019, respectively. Amortization expense of in-place lease value intangible was $5,330,000 and $5,443,000 for the six months ended June 30, 2020 and 2019, respectively. The Company identifies and records the value of acquired lease intangibles at the property acquisition date. Such intangibles include the value of acquired in-place leases and above and below-market leases. Acquired lease intangibles are amortized over the leases' remaining terms. With respect to all properties owned by the Company, we consider all of the in-place leases to be market rate leases. The amount of total in-place lease intangible asset and the respective accumulated amortization are as follows, in thousands: June 30, 2020 December 31, 2019 In-place lease value intangible $ 100,790 $ 100,790 In-place leases – accumulated amortization (74,214) (68,884) Acquired lease intangible assets, net $ 26,576 $ 31,906 As of June 30, 2020 and December 31, 2019, the Company owned 43 commercial properties comprising approximately 6.7 million square feet plus three pad sites, all located in Texas. As of June 30, 2020, the Company owned 15 properties located in Richardson, Arlington and Dallas, Texas, 25 properties located in Houston, Texas and three properties located in San Antonio, Texas. Asset management fees incurred and paid to Advisor were $440,000 and $880,000 for the three and six ended June 30, 2020 and 2019, respectively. Asset management fees are captioned as such in the accompanying consolidated statements of operations.

Accrued Rent and Accounts Recei

Accrued Rent and Accounts Receivable, net	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Accrued Rent and Accounts Receivable, net	Accrued Rent and Accounts Receivable, net Accrued rent and accounts receivable, net, consisted of the following, in thousands: June 30, 2020 December 31, 2019 Tenant receivables $ 8,888 $ 5,929 Accrued rent 9,981 9,244 Allowance for uncollectible accounts (2,641) (2,597) Accrued rents and accounts receivable, net $ 16,228 $ 12,576 As of June 30, 2020 and December 31, 2019, the Company had an allowance for uncollectible accounts of $2,641,000 and $2,597,000, respectively. For the three months ended June 30, 2020 and 2019, the Company recorded bad debt recovery in the amount of $0 and $877,000, respectively, related to tenant receivables that we have specifically identified as potentially uncollectible based on our assessment of each tenant’s credit-worthiness. For the six months ended June 30, 2020 and 2019, the Company recorded bad debt expense (recovery) in the amount of $23,000 and $(101,000), respectively. For the six months ended June 30, 2020 and 2019, the Company recorded $21,000 and $0 in write-offs, respectively. Bad debt expense and any related recoveries are included in property operating expenses in the accompanying consolidated statements of operations.

Deferred Leasing Commission Cos

Deferred Leasing Commission Costs, net	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Leasing Commission Costs, net	Deferred Leasing Commission Costs, net Costs which have been deferred consist of the following, in thousands: June 30, 2020 December 31, 2019 Deferred leasing commissions costs $ 19,154 $ 17,620 Less: accumulated amortization (7,570) (6,830) Deferred leasing commission costs, net $ 11,584 $ 10,790

Future Minimum Rents

Future Minimum Rents	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Future Minimum Rents	Future Minimum RentsThe Company leases the majority of its properties under noncancellable operating leases which provide for minimum base rentals. A summary of minimum future rentals to be received (exclusive of renewals, tenant reimbursements, and contingent rentals) under noncancellable operating leases in existence at June 30, 2020 is as follows, in thousands: June 30, Minimum Future Rents 2021 $ 68,291 2022 58,922 2023 46,160 2024 35,286 2025 22,481 Thereafter 35,946 Total $ 267,086

Notes Payable, net

Notes Payable, net	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Notes Payable, net	Notes Payable, net The Operating Partnership is a party to four, cross-collateralized, term loan agreements with an insurance company. The term loans are secured by the Richardson Heights Property, the Cooper Street Property, the Bent Tree Green Property and the Mitchelldale Property. The loans require monthly payments of principal and interest due and payable on the first day of each month. Monthly payments are based on a 27-year loan amortization. Each of the loan agreements are subject to customary covenants, representations and warranties which must be maintained during the term of the loan agreements. Each of the loan agreements provides for a fixed interest rate of 4.61%. As of June 30, 2020, the Company was in compliance with all loan covenants, with respect to the loans above. Each of the loan agreements is secured by a deed of trust, assignment of licenses, permits and contracts, assignment and subordination of the management agreements and assignment of rents. The terms of the security instruments provide for the cross collateralization/cross default of the each of the loans. The outstanding balance of the four loans was $42,671,000 and $43,393,000 as of June 30, 2020 and December 31, 2019, respectively. On October 1, 2018, the Company through Hartman SPE, LLC and Goldman Sachs Mortgage Company entered into a $259,000,000 term loan agreement (the "SASB Loan"). The Company together with its affiliates HIREIT, Hartman XIX and vREIT XXI, contributed a total of 39 commercial real estate properties to Hartman SPE, LLC in exchange for membership interests in Hartman SPE, LLC. The term of the SASB Loan is five years, comprised of an initial two-year term with three one-year extension options. Each extension option shall be subject to certain conditions precedent including (i) no default then outstanding, (ii) 30 days prior written notice, (iii) the properties must have a specified in-place net operating income debt yield and (iv) purchase of an interest rate cap as described below for the exercised option term or terms. The outstanding principal of the SASB Loan bears interest at the one-month LIBOR rate plus 1.8%. The SASB Loan is subject to an interest rate cap arrangement which caps LIBOR at 3.75% during the initial term of the SASB Loan. The SASB Loan contains various customary covenants, including but not limited to financial covenants, covenants requiring monthly deposits in respect of certain property costs, such as taxes, insurance, tenant improvements, and leasing commissions, covenants imposing restrictions on indebtedness and liens, and restrictions on investments and participation in other asset disposition, merger or business combination or dissolution transactions. The SASB Loan is secured by, among other things, mortgages on the properties. The Company, HIREIT and Hartman XIX, entered into a guaranty agreement in favor of the lender, whereby each guarantor unconditionally guaranties the full and timely performance of the obligations set forth in the loan agreement and all other loan documents, including the payment of all indebtedness and obligations due under the loan agreement. The following is a summary of the Company’s notes payable, in thousands: Property/Facility Payment (1) Maturity Date Rate June 30, 2020 December 31, 2019 Richardson Heights (2) P&I July 1, 2041 4.61 % $ 16,956 $ 17,260 Cooper Street (2) P&I July 1, 2041 4.61 % 7,316 7,435 Bent Tree Green (2) P&I July 1, 2041 4.61 % 7,316 7,435 Mitchelldale (2) P&I July 1, 2041 4.61 % 11,083 11,263 Hartman SPE LLC (3) IO October 9, 2020 1.96 % 259,000 259,000 Hartman XXI IO October 31, 2021 10.00 % 8,200 4,400 309,871 306,793 Less: unamortized deferred loan costs (3,247) (3,754) $ 306,624 $ 303,039 (1) Principal and interest (P&I) or interest only (IO). (2) Each promissory note contains a call option wherein the holder of the promissory note may declare the outstanding balance due and payable on either July 1, 2024, July 1, 2029, July 1, 2034, or July 1, 2039. (3) Options to extend for three 1-year terms; first notice due between August 9, 2020 and September 9, 2020. Debt yield requirement is 12.5% or greater. The Company's loan costs are amortized using the straight-line method over the terms of the loans, which approximates the interest method. Costs which have been deferred consist of the following, in thousands: June 30, 2020 December 31, 2019 Deferred loan costs $ 5,272 $ 7,155 Less: deferred loan cost accumulated amortization (2,025) (3,401) Total cost, net of accumulated amortization $ 3,247 $ 3,754 Interest expense incurred for the three months ended June 30, 2020 and 2019 was $2,664,000 and $3,523,000, respectively, which includes amortization expense of deferred loan costs. Interest expense incurred for the six months ended June 30, 2020 and 2019 was $5,682,000 and $7,192,000, respectively, which included amortization expense of deferred loan costs. Interest expense of $668,000 and $516,000 was payable as of June 30, 2020 and December 31, 2019, respectively, and is included in accounts payable and accrued expenses in the accompanying consolidated balance sheets. The Company is required to provide audited financial statements for Hartman SPE, LLC within 120 days after the end of its fiscal year, which is December 31. The servicer for the lender has extended the time for delivery of the Hartman SPE, LLC audited annual financial statements. Fair Value of Debt The fair value of the Company’s fixed rate notes payable, variable rate notes payable and secured revolving credit facilities aggregates to $322,821,000 and $308,671,000 as compared to book value of $309,871,000 and $306,793,000 as of June 30, 2020 and December 31, 2019, respectively. The fair value of our debt instruments is estimated on a Level 2 basis, as provided by ASC 820, using a discounted cash flow analysis based on the borrowing rates currently available to the Company for loans with similar terms and maturities, discounting the future contractual interest and principal payments. Disclosure about the fair value of notes payable is based on relevant information available as of June 30, 2020 and December 31, 2019.

Income (Loss) Per Share

Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Income (Loss) Per Share	Income (Loss) Per Share Basic income per share is computed using net income attributable to common stockholders and the weighted average number of common shares outstanding. Diluted weighted average shares outstanding reflect common shares issuable from the assumed conversion of convertible preferred stock into common shares. Only those items that have a dilutive impact on basic earnings per share are included in the diluted earnings per share. Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Numerator: Net income (loss) attributable to common stockholders (in thousands) $ 1,308 $ (243) $ 2,476 $ 92 Denominator: Weighted average number of common shares outstanding, basic and diluted (in thousands) 18,418 18,418 18,418 18,182 Basic and diluted income (loss) per common share: $ 0.07 $ (0.01) $ 0.13 $ 0.01

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Federal income taxes are not provided for because we qualify as a REIT under the provisions of the Internal Revenue Code and because we have distributed and intend to continue to distribute all of our taxable income to our stockholders. Our stockholders include their proportionate taxable income in their individual tax returns. As a REIT, we must distribute at least 90% of our real estate investment trust taxable income to our stockholders and meet certain income sources and investment restriction requirements. In addition, REITs are subject to a number of organizational and operational requirements. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax (including any applicable alternative minimum tax) on our taxable income at regular corporate tax rates. The Company’s federal income tax returns for the years ended December 31, 2015, 2016, 2017, 2018 and 2019 have not been examined by the Internal Revenue Service.The Company’s federal income tax return for the year ended December 31, 2015 may be examined on or before September 15, 2020. The Company has formed a taxable REIT subsidiary which may generate future taxable income, which may be offset by the net loss carry forward. The Company considers that any deferred tax benefit and corresponding deferred tax asset which may be recorded in light of the net loss carry forward would be properly offset by an equal valuation allowance. Accordingly, no deferred tax benefit or deferred tax asset has been recorded in the accompanying consolidated financial statements. The Company is required to recognize in its consolidated financial statements the financial effects of a tax position only if it is determined that it is more likely than not that the tax position will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management has reviewed the Company’s tax positions and is of the opinion that material positions taken by the Company would more likely than not be sustained upon examination. Accordingly, the Company has not recognized a liability related to uncertain tax positions. Taxable income (loss) differs from net income (loss) for financial reporting purposes principally due to differences in the timing of recognition of interest, real estate taxes, depreciation and amortization and rental revenue.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Hartman Advisors LLC, is a Texas limited liability company owned 70% by Allen R. Hartman individually and 30% by the Property Manager. The Property Manager is a wholly owned subsidiary of Hartman Income REIT Management, LLC, which is wholly owned by Hartman Income REIT, Inc. and Subsidiaries of which approximately 20% is owned by Allen R. Hartman who is the Chief Executive Officer and Chairman of the Board of Directors. The Company pays acquisition fees and asset management fees to the Advisor in connection with the acquisition of properties and management of the Company. The Company pays property management and leasing commissions to the Property Manager in connection with the management and leasing of the Company’s properties. For the three months ended June 30, 2020 and 2019, the Company incurred property management fees and reimbursements of $2,049,000 and $2,007,000, respectively, and $521,000 and $1,255,000, respectively for leasing commissions owed to our Property Manager. We incurred asset management fees of $440,000 and $440,000, respectively, owed to the Advisor. For the six months ended June 30, 2020 and 2019, the Company incurred property management fees and reimbursements of $4,118,000 and $3,972,000, respectively, and $1,534,000 and $2,205,000, respectively for leasing commissions owed to our Property Manager. We incurred asset management fees of $880,000 and $880,000, respectively, owed to the Advisor. These fees are monthly fees equal to one-twelfth of 0.75% of the sum of the higher of the cost or value of each asset. The asset management fee will be based only on the portion of the cost or value attributable to the Company’s investment in an asset, if the Company does not own all or a majority of an asset. There were no acquisition fees incurred to the Advisor for the six months ended June 30, 2020 and 2019, respectively. Property management fees and reimbursements are included in property operating expense in the accompanying consolidated statements of operations. Asset management fees are captioned as such in the accompanying consolidated statements of operations. The Company also pays construction management fees for the Property Manager in connection with the construction management of the Company's properties. For the three months ended June 30, 2020 and 2019, the Company incurred construction management fees of $143,000 and $94,000, respectively. For the six months ended June 30, 2020 and 2019, the Company incurred construction management fees of $309,000 and $361,000, respectively. Construction management fees are capitalized and included in real estate assets in the consolidated balance sheets. The table below shows the related party balances the Company owes to and is owed by, in thousands: June 30, 2020 December 31, 2019 Due from HIREIT $ 11,238 $ 10,359 Due to Hartman XIX (3,932) (4,059) Due to vREIT XXI (2,764) (420) Due to Advisor (2,376) (2,077) Due to the Property Manager (1,489) (1,168) Due to other related parties (140) (505) $ 537 $ 2,130 The Company owns 1,561,523 shares of the common stock of HIREIT which it acquired for cash consideration of $8,978,000. The Company’s investment in HIREIT is accounted for under the cost method. Management of HIREIT reported Net Asset Value ("NAV") per share of $8.18 as of December 31, 2019. The Company’s approximate 11% ownership interest in HIREIT is less than a controlling stake, and is reflected as “Investment in Affiliate” on the accompanying consolidated balance sheets. The Company received dividend distributions from HIREIT of $106,000 and $213,000 for the three and six months ended June 30, 2020 and 2019, respectively, which is included in interest and dividend income in the accompanying consolidated statements of operations. During the fourth quarter of 2019, the Company borrowed under an unsecured promissory note payable to Hartman vREIT XXI, Inc., an affiliate of the Advisor and the Property Manager, in the face amount of $10,000,000. This note payable had an outstanding balance of $8,200,000 and $4,400,000 as of June 30, 2020 and December 31, 2019, respectively, which is included in Notes payable, net, in the accompanying consolidated balance sheets. Interest has been accrued on the loan amount at an annual rate of 10%. The Company recognized interest expense on the affiliate note in the amount of $204,000 and $314,000 for the three and six months ended June 30, 2020, which is included in interest expense in the accompanying consolidated statements of operations. In May 2016, the Company, through its taxable REIT subsidiary, Hartman TRS, Inc. (“TRS”), loaned $7,231,000 pursuant to a promissory note in the face amount of up to $8,820,000 to Hartman Retail II Holdings Company, Inc. (“Retail II Holdings”), an affiliate of the Advisor and the Property Manager, in connection with the acquisition of a retail shopping center by Hartman Retail II DST, a Delaware statutory trust sponsored by the Property Manager. Pursuant to the terms of the promissory note, TRS received a two percent (2%) origination fee of amounts advanced under the promissory note, and interest at ten percent (10%) per annum on the outstanding principal balance. The outstanding principal balance of the promissory note will be repaid as investor funds are raised by Hartman Retail II DST. The maturity date of the promissory note, as amended is December 31, 2020. This note receivable had an outstanding balance of $1,726,000 and $2,476,000 as of June 30, 2020 and December 31, 2019, respectively, which is included in Notes receivable – related party in the accompanying consolidated balance sheets. For the three months ended June 30, 2020 and 2019, respectively, the Company recognized interest income on this affiliate note in the amount of $43,000 and $58,000, respectively. For the six months ended June 30, 2020 and 2019, respectively, the Company recognized interest income on this affiliate note in the amount of $86,000 and $119,000, respectively, which is included in interest and dividend income in the accompanying consolidated statements of operations. The Company had a note receivable due from an affiliate, Hartman Short Term Income Properties XIX, Inc. (“Hartman XIX”), of $4,200,000 as of June 30, 2020 and December 31, 2019, respectively, which is included in Notes receivable - related party in the accompanying consolidated balance sheets. The face amount of the promissory note is $4,500,000. Interest has been accrued on the loan amount at an annual rate of six percent (6%). The Company recognized interest income on the affiliate note in the amount of $63,000 and $126,000 for the three and six months ended June 30, 2020 and 2019, respectively, which is included in interest and dividend income in the accompanying consolidated statements of operations. In February 2019, the Company through TRS, loaned $6,782,455 pursuant to a promissory note in the face amount of up to $7,500,000 to Hartman Retail III Holdings Company, Inc. (“Retail III Holdings”), an affiliate of the Advisor and the Property Manager, in connection with the acquisition of a retail shopping center by Hartman Retail III DST, a Delaware statutory trust sponsored by the Advisor. This note receivable had an outstanding balance of $6,782,000 as of June 30, 2020 and December 31, 2019, respectively, which is included in Notes receivable – related party in the accompanying consolidated balance sheets. Pursuant to the terms of the promissory note, TRS receives a two percent (2%) origination fee of amounts advanced under the promissory note, and interest at ten percent (10%) per annum on the outstanding principal balance. The outstanding principal balance of the promissory note will be repaid as investor funds are raised by Hartman Retail III DST. The maturity date of the promissory note is February 29, 2021. The Company recognized interest income on this affiliate note in the amount of $169,000 and $0 for the three months ended June 30, 2020 and June 30, 2019, respectively. For the six months ended June 30, 2020 and June 30, 2019, interest income of $338,000 and $0 has been recognized by the Company, which is included in interest and dividend income in the accompanying consolidated statements of operations. In March 2019, the Company through TRS, loaned $3,829,711 pursuant to a promissory note in the face amount of up to $3,500,000 to Hartman Ashford Bayou, LLC (“Ashford Bayou”), an affiliate of the Advisor and the Property Manager, in connection with the acquisition of office building by Ashford Bayou, a wholly owned subsidiary of Hartman Total Return, Inc. This note receivable had an outstanding balance of $3,830,000 as of June 30, 2020 and December 31, 2019, respectively, which is included in Notes receivable – related party in the accompanying consolidated balance sheets. Pursuant to the terms of the promissory note, TRS receives a two percent (2%) origination fee of amounts advanced under the promissory note, and interest at ten percent (10%) per annum on the outstanding principal balance. The outstanding principal balance of the promissory note will be repaid as investor funds are raised by Hartman Total Return, Inc. The maturity date of the promissory note is March 31, 2021. The Company recognized interest income on this affiliate note in the amount of $95,000 and $0, for the three months ended June 30, 2020 and June 30, 2019, respectively. For the six months ended June 30, 2020 and June 30, 2019, interest income of $191,000 and $0 has been recognized by the Company, which is included in interest and dividend income in the accompanying consolidated statements of operations. VIEs are defined as entities with a level of invested equity that is not sufficient to fund future operations on a stand-alone basis, or whose equity holders lack certain characteristics of a controlling financial interest. For identified VIEs, an assessment must be made to determine which party to the VIE, if any, has both the power to direct the activities of the VIE that most significantly impacts the performance of the VIE and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company is not deemed to be the primary beneficiary of Retail II Holdings, Retail III Holdings or Ashford Bayou, each of which qualifies as a VIE. Accordingly, the assets and liabilities and revenues and expenses of Retail II Holdings , Retail III Holdings and Ashford Bayou have not been included in the accompanying consolidated financial statements. The Company is a covenant guarantor for the secured mortgage indebtedness of each of the VIEs in the total amount of $25,045,000 as of June 30, 2020. The following table reflects the net note receivable asset due to the Company, reflected in the accompanying consolidated balance sheets and the Company's maximum exposure to debt guarantees, in thousands: June 30, 2020 December 31, 2019 Note Receivable, net $ 12,338 $ 13,088 Maximum Exposure $ 25,045 $ 25,141 The Board of Directors voted to acquire an additional 3.42% ownership interest of Hartman SPE, LLC from Hartman vREIT XXI, Inc. in exchange for 700,302 shares of the Company’s common stock with a total value of $8,858,826 ($12.65 per share). The exchange increased the Company’s ownership interest in Hartman SPE, LLC from 32.74% to 36.16%. The transaction was effective March 1, 2019.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Under the Company’s articles of incorporation, the Company has authority to issue 750,000,000 shares of common stock, $0.001 par value per share, and 200,000,000 shares of preferred stock, $0.001 par value per share. Common Stock Shares of common stock entitle the holders to one vote per share on all matters which stockholders are entitled to vote, to receive dividends and other distributions as authorized by the Company’s board of directors in accordance with the Maryland General Corporation Law and to all rights of a stockholder pursuant to the Maryland General Corporation Law. The common stock has no preferences or preemptive, conversion or exchange rights. Preferred Stock Under the Company’s articles of incorporation, the Company’s board of directors has the authority to issue one or more classes or series of preferred stock, and prior to the issuance of such stock, the board of directors has the power to classify or reclassify, in one or more series, any unissued shares and designate the preferences, rights and privileges of such shares. As of June 30, 2020, and December 31, 2019, respectively, the Company has issued 1,000 shares of convertible preferred stock to the Advisor at a price of $10.00 per share. Common Stock Issuable Upon Conversion of Convertible Preferred Stock The convertible preferred stock issued to the Advisor will convert to shares of the Company’s common stock if (1) the Company has made total distributions on then outstanding shares of the Company’s common stock equal to the issue price of those shares plus a 6% cumulative, non-compounded, annual return on the issue price of those outstanding shares, (2) the Company lists its common stock for trading on a national securities exchange if the sum of prior distributions on then outstanding shares of the Company’s common stock plus the aggregate market value of the Company’s common stock (based on the 30-day average closing meets the same 6% performance threshold, or (3) the Company’s advisory agreement with the Advisor expires without renewal or is terminated (other than because of a material breach by the Advisor), and at the time of such expiration or termination the Company is deemed to have met the foregoing 6% performance threshold based on the Company’s enterprise value and prior distributions and, at or subsequent to the expiration or termination, the stockholders actually realize such level of performance upon listing or through total distributions. In general, the convertible stock will convert into shares of common stock with a value equal to 15% of the excess of the Company’s enterprise value plus the aggregate value of distributions paid to date on then outstanding shares of common stock over the aggregate issue price of those outstanding shares plus a 6% cumulative, non-compounded, annual return on the issue price of those outstanding shares. With respect to conversion in connection with the termination of the advisory agreement, this calculation is made at the time of termination even though the actual conversion may occur later, or not at all. Stock-Based Compensation The Company awards shares of restricted common stock to non-employee directors as compensation in part for their service as members of the board of directors of the Company. These shares are fully vested when granted. These shares may not be sold while an independent director is serving on the board of directors. For the three and six months ended June 30, 2020 and 2019, respectively, the Company granted 1,500 and 3,000 shares, respectively, of restricted common stock to independent directors as compensation for services and recognized $19,000 and $38,000 as stock-based compensation expense for each period, respectively. Share based compensation expense is based upon the estimated fair value per share. Stock-based compensation expense is included in general and administrative expenses in the accompanying consolidated statements of operations. Distributions The following table reflects the total distributions the Company has declared to common stockholders, including the total amount declared, in thousands, and amount paid per common share, in each indicated quarter: Quarter Paid Distributions per Common Share Total Distributions 2020 2 nd Quarter $ 0.175 $ 3,220 1 st Quarter 0.175 3,223 Total 2020 year to date $ 0.350 $ 6,443 2019 4 th Quarter $ 0.175 $ 3,223 3 rd Quarter 0.175 3,224 2 nd Quarter 0.175 3,223 1 st Quarter 0.171 3,141 Total 2019 $ 0.696 $ 12,811 Mergers Subject to the terms and conditions of the XIX Merger Agreement, including the satisfaction of all closing conditions set forth in the Merger Agreements, Hartman XIX will merge with and into the Company, with the Company surviving the merger (the “Hartman XIX Merger”). Subject to the terms and conditions of the HIREIT Merger Agreement, (i) HIREIT will merge with and into the Company, with the Company surviving the merger (the “HIREIT Merger,” and together with the Hartman XIX Merger, the “REIT Mergers”), and (ii) HIROP will merge and with and into the Operating Partnership, with the Operating Partnership surviving the merger (the “Partnership Merger,” and together with the REIT Mergers, the “Mergers”). The REIT Mergers are intended to qualify as a “reorganization” under, and within the meaning of, Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and the Partnership Merger is intended to be treated as a tax-deferred exchange under Section 721 of the Code. Subject to the terms and conditions of the XIX Merger Agreement, (i) each share of common stock of Hartman XIX (the “XIX Common Stock”) issued and outstanding immediately prior to the Effective Time (as defined in the XIX Merger Agreement) will be automatically cancelled and retired and converted into the right to receive 9,171.98 shares of common stock, $0.01 par value per share, of the Company (“Company Common Stock”), (ii) each share of 8% cumulative preferred stock of Hartman XIX issued and outstanding immediately prior to the Effective Time will be automatically cancelled and retired and converted into the right to receive 1.238477 shares of Company Common Stock, and (iii) each share of 9% cumulative preferred stock of Hartman XIX issued and outstanding immediately prior to the Effective Time will be automatically cancelled and retired and converted into the right to receive 1.238477 shares of Company Common Stock. Subject to the terms and conditions of the HIREIT Merger Agreement, (a) in connection with the HIREIT Merger, (i) each share of common stock of HIREIT (the “HIREIT Common Stock”) issued and outstanding immediately prior to the REIT Merger Effective Time (as defined in the HIREIT Merger Agreement) will be automatically cancelled and retired and converted into the right to receive 0.752222 shares of Company Common Stock, and (ii) each share of subordinate common stock of HIREIT will be automatically cancelled and retired and converted into the right to receive 0.863235 shares of Company Common Stock, and (b) in connection with the Partnership Merger, each unit of limited partnership interest in HIREIT Operating Partnership (“HIREIT OP Units”) issued and outstanding immediately prior to the Partnership Merger Effective Time (as defined in the HIREIT Merger Agreement) (other than any HIREIT OP Units held by HIREIT) will be automatically cancelled and retired and converted into the right to receive 0.752222 validly issued, fully paid and non-assessable units of limited partnership interests in XX Operating Partnership.

Incentive Award Plan

Incentive Award Plan	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Incentive Award Plan	Incentive Award Plan The Company has adopted an incentive plan (the “Omnibus Stock Incentive Plan” or the “Incentive Plan”) that provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, deferred stock awards, restricted stock awards, dividend equivalent rights and other stock-based awards within the meaning of Internal Revenue Code Section 422, or any combination of the foregoing. The Company has initially reserved 5,000,000 shares of the Company’s common stock for the issuance of awards under the Company’s stock incentive plan, but in no event more than ten (10%) percent of the Company’s issued and outstanding shares. The number of shares reserved under the Company’s stock incentive plan is also subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. Generally, shares that are forfeited or canceled from awards under the Company’s stock incentive plan also will be available for future awards. Incentive Plan compensation expense is included in general and administrative expenses in the accompanying consolidated statements of operations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Economic Dependency The Company is dependent on the Property Manager and the Advisor for certain services that are essential to the Company, including the identification, evaluation, negotiation, purchase and disposition of properties, management of the daily operations of the Company’s real estate portfolio, and other general and administrative responsibilities. In the event that these companies are unable to provide the respective services, the Company will be required to obtain such services from other providers. Litigation The Company is subject to various claims and legal actions that arise in the ordinary course of business. Management of the Company believes that the final disposition of such matters will not have a material adverse effect on the financial position of the Company.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated subsequent events through the filing of this Quarterly Report on Form 10-Q, and determined that there have been no events that have occurred that would require adjustments to our disclosures in the consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements included in this report are unaudited; however, amounts presented in the consolidated balance sheet as of December 31, 2019 are derived from our audited consolidated financial statements as of that date. The unaudited consolidated financial statements as of June 30, 2020 have been prepared by the Company in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission, including Form 10-Q and Regulation S-X, on a basis consistent with the annual audited consolidated financial statements. The consolidated financial statements presented herein reflect all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the financial position of the Company as of June 30, 2020, and the results of consolidated operations for the three and six months ended June 30, 2020 and 2019, the consolidated statements of stockholders’ equity for the three and six months ended June 30, 2020 and 2019 and the consolidated statements of cash flows for the six months ended June 30, 2020 and 2019. The results for the six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the year ending December 31, 2020. The consolidated financial statements herein are condensed and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. These unaudited consolidated financial statements include the accounts of the Company, the Operating Partnership and its subsidiaries, and Hartman SPE, LLC. All significant intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents on the accompanying consolidated balance sheets include all cash and liquid investments with maturities of three months or less. Cash and cash equivalents as of June 30, 2020 and December 31, 2019 consisted of demand deposits at commercial banks. We maintain accounts which may from time to time exceed federally insured limits. We have not experienced any losses in these accounts and believe that the Company is not exposed to any significant credit risk and regularly monitors the financial stability of these financial institutions.
Restricted Cash	Restricted CashRestricted cash on the accompanying consolidated balance sheets consists of amounts escrowed for future real estate taxes, insurance, capital expenditures and debt service, as required by certain of our mortgage debt agreements.
Financial Instruments	Financial Instruments The accompanying consolidated balance sheets include the following financial instruments: cash and cash equivalents, restricted cash, accrued rent and accounts receivable, accounts payable and accrued expenses and balances due to/due from related parties, as well as related party notes receivable. The Company considers the carrying value of these financial instruments to approximate their respective fair values due to their short-term nature. Disclosure about the fair value of financial instruments is based on relevant information available as of June 30, 2020 and December 31, 2019.
Revenue Recognition	Revenue Recognition The Company’s leases are accounted for as operating leases. Certain leases provide for tenant occupancy during periods for which no rent is due and/or for increases or decreases in the minimum lease payments over the terms of the leases. Revenue is recognized on a straight-line basis over the terms of the individual leases. Revenue recognition under a lease begins when the tenant takes possession of or controls the physical use of the leased space. When the Company acquires a property, the term of existing leases is considered to commence as of the acquisition date for purposes of this calculation. The Company’s accrued rents are included in accrued rent and accounts receivable, net. The Company will defer the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Additionally, cost recoveries from tenants are included in the tenant reimbursements and other revenues line item in the consolidated statements of operations in the period the related costs are incurred.
Real Estate	Allocation of Purchase Price of Acquired Assets Upon the acquisition of real properties, it is the Company’s policy to allocate the purchase price of properties to acquired tangible assets, consisting of land and buildings, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, other value of in-place leases and leasehold improvements and value of tenant relationships, based in each case on their fair values. The Company utilizes internal valuation methods to determine the fair values of the tangible assets of an acquired property (which includes land and buildings). The fair values of above-market and below-market in-place lease values, including below-market renewal options for which renewal has been determined to be reasonably assured, are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) an estimate of fair market lease rates for the corresponding in-place leases and below-market renewal options, which is generally obtained from independent appraisals, measured over a period equal to the remaining non-cancelable term of the lease. The above-market and below-market lease and renewal option values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental revenues over the remaining expected terms of the respective leases. The fair values of in-place leases include direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs and are estimated based on independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are included in intangible lease assets and are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid pursuant to the in-place leases over a market absorption period for a similar lease. Customer relationships are valued based on expected renewal of a lease or the likelihood of obtaining a particular tenant for other locations. These intangibles are included in real estate assets in the consolidated balance sheets and are being amortized to expense over the remaining term of the respective leases. The determination of the fair values of the assets and liabilities acquired requires the use of significant assumptions with regard to the current market rental rates, rental growth rates, discount rates and other variables. The use of inappropriate estimates would result in an incorrect assessment of the purchase price allocations, which could impact the amount of the Company’s reported net income (loss). Real Estate Joint Ventures and Partnerships To determine the method of accounting for partially owned real estate joint ventures and partnerships, management determines whether an entity is a variable interest entity (“VIE") and, if so, determines which party is the primary beneficiary by analyzing whether we have both the power to direct the entity’s significant economic activities and the obligation to absorb potentially significant losses or receive potentially significant benefits. Significant judgments and assumptions inherent in this analysis include the design of the entity structure, the nature of the entity’s operations, future cash flow projections, the entity’s financing and capital structure, and contractual relationships and terms. We consolidate a VIE when we have determined that we are the primary beneficiary. Primary risks associated with our involvement with our VIEs include the potential funding of the entities’ debt obligations or making additional contributions to fund the entities’ operations or capital activities. Partially owned, non-variable interest real estate joint ventures and partnerships over which we have a controlling financial interest are consolidated in our consolidated financial statements. In determining if we have a controlling financial interest, we consider factors such as ownership interest, authority to make decisions, kick-out rights and substantive participating rights. Partially owned real estate joint ventures and partnerships where we do not have a controlling financial interest, but have the ability to exercise significant influence, are accounted for using the equity method. Management continually analyzes and assesses reconsideration events, including changes in the factors mentioned above, to determine if the consolidation or equity method treatment remains appropriate. Depreciation and amortization Depreciation is computed using the straight-line method over the estimated useful lives of 5 to 39 years for buildings and improvements. Tenant improvements are depreciated using the straight-line method over the lesser of the life of the improvement or the remaining term of the lease. In-place leases are amortized using the straight-line method over the weighted average years’ remaining calculated on terms of all of the leases in-place when acquired. Impairment
Accrued Rent and Accounts Receivable	Accrued Rent and Accounts Receivable Accrued rent and accounts receivable include base rents, tenant reimbursements and receivables attributable to recording rents on a straight-line basis. An allowance for the uncollectible portion of accrued rent and accounts receivable is determined based upon customer credit-worthiness (including expected recovery of our claim with respect to any tenants in bankruptcy), historical bad debt levels, and current economic trends.
Deferred Leasing Commission Costs	Deferred Leasing Commission CostsLeasing commissions are amortized using the straight-line method over the term of the related lease agreements.
Goodwill	GoodwillGAAP requires the Company to test goodwill for impairment at least annually or more frequently whenever events or circumstances occur indicating goodwill might be impaired.  The Company applies a one-step quantitative test to determine if the estimated fair value is less than the carrying amount.  If the carrying amount exceeds the estimated fair value, the Company will record a goodwill impairment equal to such excess, not to exceed the total amount of goodwill. No goodwill impairment has been recognized in the accompanying consolidated financial statements.
Noncontrolling Interests	Noncontrolling InterestsNoncontrolling interests is the portion of equity in a subsidiary not attributable to a parent.  The ownership interests not held by the parent are considered noncontrolling interests.  Accordingly, the Company has reported noncontrolling interests in equity on the consolidated balance sheets but separate from the Company's equity. On the consolidated statements of operations, subsidiaries are reported at the consolidated amount, including both the amount attributable to the Company and noncontrolling interests.
Stock-Based Compensation	Stock-Based Compensation The Company follows Accounting Standards Codification ("ASC") 718 - Compensation - Stock Compensation, with regard to issuance of stock in payment of services. ASC 718 requires that compensation cost relating to share-based payment transactions be recognized in the consolidated financial statements. The compensation cost is measured based on the estimated grant date fair value, as of the grant date of the Company’s common stock, of the equity or liability instruments issued. Stock-based compensation expense are recorded over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations.
Income Taxes	Income Taxes The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended, beginning with its taxable year ended December 31, 2011. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and will continue to operate in such a manner as to qualify for treatment as a REIT. For the three and six months ended June 30, 2020 and 2019, the Company incurred net income (loss) of $2,706,000 and $(931,000), respectively, and $4,590,000 and $(571,000), respectively. The Company formed a taxable REIT subsidiary which may generate future taxable income which may be offset by the net loss carry forward. The Company considers that any deferred tax benefit and corresponding deferred tax asset which may be recorded in light of the net loss carry forward would be properly offset by an equal valuation allowance. Accordingly, no deferred tax benefit or deferred tax asset has been recorded in the consolidated financial statements. The Company is required to recognize in its consolidated financial statements the financial effects of a tax position only if it is determined that it is more likely than not that the tax position will not be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management has reviewed the Company’s tax positions and is of the opinion that material positions taken by the Company would more likely than not be sustained upon examination. Accordingly, the Company has not recognized a liability related to uncertain tax positions.
Income Per Share	Income Per Share The computations of basic and diluted income per common share are based upon the weighted average number of common shares outstanding and potentially dilutive securities. The Company’s potentially dilutive securities include preferred shares that are convertible into the Company’s common stock. As of June 30, 2020 and 2019, there were no shares issuable in connection with these potentially dilutive securities. These potentially dilutive securities were excluded from the computations of diluted net income per share for the three and six months ended June 30, 2020 and 2019 because no shares are issuable.
Concentration of Risk	Concentration of Risk The geographic concentration of the Company’s real estate assets makes it susceptible to adverse economic developments in the State of Texas. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, relocation of businesses, increased competition or any other changes, could adversely affect the Company’s operating results and its ability to make distributions to stockholders.
Going Concern Evaluation	Going Concern Evaluation Pursuant to ASU 2014-15, “Presentation of Financial Statements – Going Concern,” management is required to evaluate the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. The Hartman SPE, LLC loan agreement (the “SASB Loan”) has an initial maturity date of October 9, 2020. The SASB Loan provides for three successive one-year maturity date extensions. In order to exercise each successive one-year extension options, the Hartman SPE, LLC must meet five conditions in order to extend the maturity date without any further qualification. One of the five conditions for extension of term is that Hartman SPE must have a debt yield, as defined, of 12.5% or greater as of June 30, 2020. As of June 30, 2020 and December 31, 2019, Hartman SPE has a debt yield of 13.25% and 13.29%, respectively. During the period from August 9, 2020 to September 9, 2020, management will deliver to the lender a written notice of one-year extension which will include (i) representation that no event of default or monetary default exists as of the date of such notice or will exist as of October 9, 2020; (ii) the Company shall have obtained an interest rate cap agreement; (iii) the debt yield is greater than 12.50%; and (iv) the Company shall pay all reasonable costs incurred in connection with the one-year extension.
Reclassification	Reclassification Certain items in the comparative consolidated financial statements have been reclassified to conform to the presentation adopted in the current period. The Consolidated Statement of Cash Flows presented for the six months ended June 30, 2019 was adjusted to present cash and cash equivalents and restricted cash, as restricted cash was previously reported as part of prepaid expenses and other assets.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The updated guidance requires measurement and recognition of expected credit losses for financial assets, including trade and other receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This is different from the current guidance as this will require immediate recognition of estimated credit losses expected to occur over the remaining life of many financial assets. Generally, the pronouncement requires a modified retrospective method of adoption. This guidance is effective for fiscal years and interim periods within those years beginning after January 2023, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements when adopted.

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2020
Real Estate [Abstract]
Schedule of Real Estate Assets	The Company’s real estate assets consisted of the following, in thousands: June 30, 2020 December 31, 2019 Land $ 145,050 $ 145,050 Buildings and improvements 353,893 348,729 In-place lease value intangible 100,790 100,790 599,733 594,569 Less: accumulated depreciation and amortization (131,654) (117,652) Total real estate assets $ 468,079 $ 476,917
Schedule of Intangible Assets Acquired	The amount of total in-place lease intangible asset and the respective accumulated amortization are as follows, in thousands: June 30, 2020 December 31, 2019 In-place lease value intangible $ 100,790 $ 100,790 In-place leases – accumulated amortization (74,214) (68,884) Acquired lease intangible assets, net $ 26,576 $ 31,906

Accrued Rent and Accounts Rec_2

Accrued Rent and Accounts Receivable, net (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Schedule of Acquired Indefinite-lived Intangible Assets	Accrued rent and accounts receivable, net, consisted of the following, in thousands: June 30, 2020 December 31, 2019 Tenant receivables $ 8,888 $ 5,929 Accrued rent 9,981 9,244 Allowance for uncollectible accounts (2,641) (2,597) Accrued rents and accounts receivable, net $ 16,228 $ 12,576

Deferred Leasing Commission C_2

Deferred Leasing Commission Costs, net (Tables)	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Deferred Leasing Commission Costs	Costs which have been deferred consist of the following, in thousands: June 30, 2020 December 31, 2019 Deferred leasing commissions costs $ 19,154 $ 17,620 Less: accumulated amortization (7,570) (6,830) Deferred leasing commission costs, net $ 11,584 $ 10,790

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lessor, Operating Lease, Payments to be Received, Maturity	A summary of minimum future rentals to be received (exclusive of renewals, tenant reimbursements, and contingent rentals) under noncancellable operating leases in existence at June 30, 2020 is as follows, in thousands: June 30, Minimum Future Rents 2021 $ 68,291 2022 58,922 2023 46,160 2024 35,286 2025 22,481 Thereafter 35,946 Total $ 267,086

Notes Payable, net (Tables)

Notes Payable, net (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of Notes Payable	The following is a summary of the Company’s notes payable, in thousands: Property/Facility Payment (1) Maturity Date Rate June 30, 2020 December 31, 2019 Richardson Heights (2) P&I July 1, 2041 4.61 % $ 16,956 $ 17,260 Cooper Street (2) P&I July 1, 2041 4.61 % 7,316 7,435 Bent Tree Green (2) P&I July 1, 2041 4.61 % 7,316 7,435 Mitchelldale (2) P&I July 1, 2041 4.61 % 11,083 11,263 Hartman SPE LLC (3) IO October 9, 2020 1.96 % 259,000 259,000 Hartman XXI IO October 31, 2021 10.00 % 8,200 4,400 309,871 306,793 Less: unamortized deferred loan costs (3,247) (3,754) $ 306,624 $ 303,039 (1) Principal and interest (P&I) or interest only (IO). (2) Each promissory note contains a call option wherein the holder of the promissory note may declare the outstanding balance due and payable on either July 1, 2024, July 1, 2029, July 1, 2034, or July 1, 2039. (3) Options to extend for three 1-year terms; first notice due between August 9, 2020 and September 9, 2020. Debt yield requirement is 12.5% or greater.
Summary of Deferred Loan Costs	The Company's loan costs are amortized using the straight-line method over the terms of the loans, which approximates the interest method. Costs which have been deferred consist of the following, in thousands: June 30, 2020 December 31, 2019 Deferred loan costs $ 5,272 $ 7,155 Less: deferred loan cost accumulated amortization (2,025) (3,401) Total cost, net of accumulated amortization $ 3,247 $ 3,754

Income (Loss) Per Share (Tables

Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Diluted weighted average shares outstanding reflect common shares issuable from the assumed conversion of convertible preferred stock into common shares. Only those items that have a dilutive impact on basic earnings per share are included in the diluted earnings per share. Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Numerator: Net income (loss) attributable to common stockholders (in thousands) $ 1,308 $ (243) $ 2,476 $ 92 Denominator: Weighted average number of common shares outstanding, basic and diluted (in thousands) 18,418 18,418 18,418 18,182 Basic and diluted income (loss) per common share: $ 0.07 $ (0.01) $ 0.13 $ 0.01

Related Party Disclosures (Tabl

Related Party Disclosures (Tables)	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The table below shows the related party balances the Company owes to and is owed by, in thousands: June 30, 2020 December 31, 2019 Due from HIREIT $ 11,238 $ 10,359 Due to Hartman XIX (3,932) (4,059) Due to vREIT XXI (2,764) (420) Due to Advisor (2,376) (2,077) Due to the Property Manager (1,489) (1,168) Due to other related parties (140) (505) $ 537 $ 2,130

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Summary of Distributions	The following table reflects the total distributions the Company has declared to common stockholders, including the total amount declared, in thousands, and amount paid per common share, in each indicated quarter: Quarter Paid Distributions per Common Share Total Distributions 2020 2 nd Quarter $ 0.175 $ 3,220 1 st Quarter 0.175 3,223 Total 2020 year to date $ 0.350 $ 6,443 2019 4 th Quarter $ 0.175 $ 3,223 3 rd Quarter 0.175 3,224 2 nd Quarter 0.175 3,223 1 st Quarter 0.171 3,141 Total 2019 $ 0.696 $ 12,811

Organization and Business (Deta

Organization and Business (Details) ft² in Millions	Jun. 30, 2020ft²property	Dec. 31, 2019ft²property	Jun. 30, 2019ft²property	Oct. 01, 2018USD ($)property
Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties	3	3	3
Number of commercial properties	43	43	43
Area of real estate property (in sq ft) | ft²	6.7	6.7	6.7
Richardson, Arlington And Dallas, Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties	15		15
Houston, Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties	25		25
San Antonio, Texas
Schedule of Equity Method Investments [Line Items]
Number of real estate properties	3		3
Hartman SPE, LLC
Schedule of Equity Method Investments [Line Items]
Number of real estate properties				39
Hartman SPE, LLC | Notes Payable to Banks
Schedule of Equity Method Investments [Line Items]
Debt instrument, face amount | $				$ 259,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	Oct. 01, 2018extension	Sep. 09, 2020	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Property, Plant and Equipment [Line Items]
Impairment of real estate					$ 0		$ 0
Goodwill impairment loss			$ 0	$ 0	0	$ 0
Net income (loss)			$ 2,706,000	$ (931,000)	$ 4,590,000	$ (571,000)
Notes Payable to Banks | Hartman SPE, LLC
Property, Plant and Equipment [Line Items]
Number of extensions | extension	3
Extension term	1 year
Debt instrument, covenant, debt yield, minimum					12.50%
Debt yield			13.25%		13.25%		13.29%
Notes Payable to Banks | Hartman SPE, LLC | Scenario, Forecast | Subsequent Event
Property, Plant and Equipment [Line Items]
Written notice extension		1 year
Debt yield threshold minimum		0.1250
Building and Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life					5 years
Building and Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life					39 years

Real Estate - Assets (Details)

Real Estate - Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Real Estate [Abstract]
Land	$ 145,050	$ 145,050
Buildings and improvements	353,893	348,729
In-place lease value intangible	100,790	100,790
Real estate assets, at cost	599,733	594,569
Less: accumulated depreciation and amortization	(131,654)	(117,652)
Real estate assets, net	$ 468,079	$ 476,917

Real Estate - Additional Inform

Real Estate - Additional Information (Details) $ in Thousands, ft² in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)ft²property	Jun. 30, 2019USD ($)ft²property	Jun. 30, 2020USD ($)ft²property	Jun. 30, 2019USD ($)ft²property	Dec. 31, 2019ft²property
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Depreciation | $	$ 4,355	$ 3,908	$ 8,672	$ 8,221
Amortization expense of in-place lease value intangible | $	2,665	2,726	5,330	5,443
Asset management fees paid to Advisor | $	$ 440	$ 880	$ 440	$ 880
Texas
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of commercial properties	43	43	43	43	43
Area of real estate property (in sq ft) | ft²	6.7	6.7	6.7	6.7	6.7
Number of real estate properties	3	3	3	3	3
Richardson, Arlington And Dallas, Texas
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of real estate properties	15	15	15	15
Houston, Texas
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of real estate properties	25	25	25	25
San Antonio, Texas
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of real estate properties	3	3	3	3

Real Estate - In-place Intangib

Real Estate - In-place Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Real Estate [Abstract]
In-place lease value intangible	$ 100,790	$ 100,790
In-place leases – accumulated amortization	(74,214)	(68,884)
Acquired lease intangible assets, net	$ 26,576	$ 31,906

Accrued Rent and Accounts Rec_3

Accrued Rent and Accounts Receivable, net - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Tenant receivables	$ 8,888	$ 5,929
Accrued rent	9,981	9,244
Allowance for uncollectible accounts	(2,641)	(2,597)
Deferred leasing commission costs, net	$ 16,228	$ 12,576

Accrued Rent and Accounts Rec_4

Accrued Rent and Accounts Receivable, net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Receivables [Abstract]
Allowance for uncollectible accounts	$ 2,641		$ 2,641		$ 2,597
Bad debt provision (recovery), net	$ 0	$ 877	23	$ (101)
Write-offs			$ (21)	$ 0

Deferred Leasing Commission C_3

Deferred Leasing Commission Costs, net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred leasing commissions costs	$ 19,154	$ 17,620
Less: accumulated amortization	(7,570)	(6,830)
Deferred leasing commission costs, net	$ 11,584	$ 10,790

Future Minimum Rents (Details)

Future Minimum Rents (Details) $ in Thousands	Jun. 30, 2020USD ($)
Leases [Abstract]
2021	$ 68,291
2022	58,922
2023	46,160
2024	35,286
2025	22,481
Thereafter	35,946
Total	$ 267,086

Notes Payable, net - Additional

Notes Payable, net - Additional Information (Details)	Oct. 01, 2018USD ($)propertyextension	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)loan_outstanding	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Short-term Debt [Line Items]
Outstanding balance		$ 309,871,000		$ 309,871,000		$ 306,793,000
Interest expense		2,664,000,000	$ 3,523,000,000	5,682,000	$ 7,192,000
Interest expense payable		668,000		668,000		516,000
Estimate of Fair Value Measurement
Short-term Debt [Line Items]
Debt instrument, fair value disclosure		$ 322,821,000		$ 322,821,000		308,671,000
Hartman SPE, LLC
Short-term Debt [Line Items]
Number of real estate properties | property	39
Secured debt | Richardson Heights, Cooper Street, Bent Tree Green And Mitchelldale Property Loans
Short-term Debt [Line Items]
Number of cross-collateralized term loan agreements | loan_outstanding				4
Amortization term				27 years
Fixed interest rate		4.61%		4.61%
Outstanding balance		$ 42,671,000		$ 42,671,000		$ 43,393,000
Notes Payable to Banks | Hartman SPE, LLC
Short-term Debt [Line Items]
Debt instrument, face amount	$ 259,000,000
Term of loan	5 years
Initial term of loan	2 years
Number of extensions | extension	3
Extension term	1 year
Notes Payable to Banks | Hartman SPE, LLC | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Basis spread	1.80%
Debt instrument, cap interest rate	3.75%

Notes Payable, net - Summary of

Notes Payable, net - Summary of Notes Payable (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)extension	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Long-term debt, gross	$ 309,871	$ 306,793
Less: unamortized deferred loan costs	(3,247)	(3,754)
Long-term debt	$ 306,624	303,039
Richardson Heights
Debt Instrument [Line Items]
Effective interest rate	4.61%
Long-term debt, gross	$ 16,956	17,260
Cooper Street
Debt Instrument [Line Items]
Effective interest rate	4.61%
Long-term debt, gross	$ 7,316	7,435
Bent Tree Green
Debt Instrument [Line Items]
Effective interest rate	4.61%
Long-term debt, gross	$ 7,316	7,435
Mitchelldale
Debt Instrument [Line Items]
Effective interest rate	4.61%
Long-term debt, gross	$ 11,083	11,263
Hartman SPE, LLC
Debt Instrument [Line Items]
Effective interest rate	1.96%
Long-term debt, gross	$ 259,000	259,000
Number of extensions | extension	3
Extension term	1 year
Debt instrument, covenant, debt yield, minimum	12.50%
Hartman XXI
Debt Instrument [Line Items]
Effective interest rate	10.00%
Long-term debt, gross	$ 8,200	$ 4,400

Notes Payable, net - Deferred L

Notes Payable, net - Deferred Loan Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Deferred loan costs	$ 5,272	$ 7,155
Less:  deferred loan cost accumulated amortization	(2,025)	(3,401)
Total cost, net of accumulated amortization	$ 3,247	$ 3,754

Income (Loss) Per Share (Detail

Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income (loss) attributable to common stockholders (in thousands)	$ 1,308	$ (243)	$ 2,476	$ 92
Denominator:
Weighted average number of common shares outstanding, basic and diluted (in shares)	18,418	18,418	18,418	18,182
Earnings Per Share, Basic and Diluted [Abstract]
Basic and diluted income (loss) per common share (in usd per share)	$ 0.07	$ (0.01)	$ 0.13	$ 0.01

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred tax benefit	$ 0	$ 0	$ 0	$ 0
Deferred tax asset	$ 0		$ 0		$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 01, 2019	Feb. 28, 2019	Mar. 31, 2019	Feb. 28, 2019	May 31, 2016	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Property management fees and reimbursements due						$ 521,000	$ 1,255,000	$ 1,534,000	$ 2,205,000
Payments for leasing commissions						440,000	440,000	880,000	880,000
Long-term debt, gross						309,871,000		309,871,000		$ 306,793,000
Hartman SPE, LLC
Related Party Transaction [Line Items]
Long-term debt, gross						259,000,000		$ 259,000,000		259,000,000
Hartman SPE, LLC
Related Party Transaction [Line Items]
Share price (in dollars per share)	$ 12.65
Common Stock | Hartman SPE, LLC
Related Party Transaction [Line Items]
Stock issued in exchange for ownership (in shares)	700,302
Value of shares issued	$ 8,858,826
Chief Executive Officer
Related Party Transaction [Line Items]
Ownership percentage								20.00%
Allen R Hartman | Affiliated Entity
Related Party Transaction [Line Items]
Ownership percentage								70.00%
Due to the Property Manager | Affiliated Entity
Related Party Transaction [Line Items]
Ownership percentage								30.00%
Texas Limited Liability Company | Affiliated Entity | Asset Management Fees Payable
Related Party Transaction [Line Items]
Expenses from transactions with related party						2,049,000	2,007,000	$ 4,118,000	3,972,000
Due to related parties, monthly fees, percentage of asset cost or value								0.0625%
Texas Limited Liability Company | Affiliated Entity | Construction Management Fees Payable
Related Party Transaction [Line Items]
Expenses from transactions with related party						143,000	94,000	$ 309,000	361,000
Hartman XIX | Affiliated Entity | Loan from Company to related party
Related Party Transaction [Line Items]
Loans receivable, face amount						4,500,000		$ 4,500,000
Loans receivable, interest rate								6.00%
Interest income, related parties						63,000	63,000	$ 126,000	126,000
Hartman XIX | Affiliated Entity | Loan From Company To Related Party Hartman Retail II Holdings Co
Related Party Transaction [Line Items]
Loans receivable						$ 4,200,000		$ 4,200,000		$ 4,200,000
Due from HIREIT | Affiliated Entity | Acquisition Of Related Party Common Stock
Related Party Transaction [Line Items]
Ownership percentage								11.00%
Due from HIREIT | Affiliated Entity | Acquisition Of Related Party Common Stock | Common Stock
Related Party Transaction [Line Items]
Shares acquired (in shares)						1,561,523		1,561,523
Shares acquired, value						$ 8,978,000		$ 8,978,000
Net asset value per share (in usd per share)										$ 8.18
Hartman TRS, Inc. | Affiliated Entity | Loan from Company to related party
Related Party Transaction [Line Items]
Dividend distribution from related party						106,000	213,000	106,000	213,000
Hartman TRS, Inc. | Affiliated Entity | Loan From Company To Related Party Hartman Retail II Holdings Co
Related Party Transaction [Line Items]
Loans receivable					$ 7,231,000	1,726,000		1,726,000		$ 2,476,000
Loans receivable, face amount					$ 8,820,000
Origination fees					2.00%
Loans receivable, interest rate					10.00%
Interest income, related parties						43,000	58,000	86,000	119,000
Hartman TRS, Inc. | Affiliated Entity | Loan From Company To Related Party Hartman Retail III Holdings Co
Related Party Transaction [Line Items]
Loans receivable		$ 6,782,455		$ 6,782,455		6,782,000		6,782,000		6,782,000
Loans receivable, face amount		$ 7,500,000		$ 7,500,000
Origination fees		2.00%		2.00%
Loans receivable, interest rate				10.00%
Interest income, related parties						169,000	0	338,000	0
Hartman TRS, Inc. | Affiliated Entity | Loan from Company to related party
Related Party Transaction [Line Items]
Loans receivable			$ 3,829,711			3,830,000		3,830,000		$ 3,830,000
Loans receivable, face amount			$ 3,500,000
Origination fees			2.00%
Loans receivable, interest rate			10.00%
Interest income, related parties						95,000	$ 0	191,000	$ 0
Due to vREIT XXI | Affiliated Entity | Loan From Related Party To Company
Related Party Transaction [Line Items]
Notes payable, related party						$ 10,000,000		$ 10,000,000
Debt instrument, stated interest rate						10.00%		10.00%
Interest expense, related party						$ 204,000		$ 314,000
Variable Interest Entity, Not Primary Beneficiary | Hartman SPE, LLC
Related Party Transaction [Line Items]
Additional ownership	3.42%
Ownership interest	36.16%	32.74%

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - Affiliated Entity - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Due from (to) related parties	$ 537	$ 2,130
Due from HIREIT
Related Party Transaction [Line Items]
Due from (to) related parties	11,238	10,359
Due to Hartman XIX
Related Party Transaction [Line Items]
Due from (to) related parties	(3,932)	(4,059)
Due to vREIT XXI
Related Party Transaction [Line Items]
Due from (to) related parties	(2,764)	(420)
Due to Advisor
Related Party Transaction [Line Items]
Due from (to) related parties	(2,376)	(2,077)
Due to the Property Manager
Related Party Transaction [Line Items]
Due from (to) related parties	(1,489)	(1,168)
Other Related Party
Related Party Transaction [Line Items]
Due from (to) related parties	$ (140)	$ (505)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands	Jul. 21, 2017$ / shares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)shares	Jun. 30, 2020USD ($)vote$ / sharesshares	Jun. 30, 2019USD ($)shares	Dec. 31, 2019$ / sharesshares
Equity [Abstract]
Common stock, shares authorized (in shares) | shares		750,000,000		750,000,000		750,000,000
Common stock, par value (in dollars per share)		$ 0.001		$ 0.001		$ 0.001
Preferred stock, shares authorized (in shares) | shares		200,000,000		200,000,000		200,000,000
Preferred stock, par value (in dollars per share)		$ 0.001		$ 0.001		$ 0.001
Number or votes per share | vote				1
Class of Stock [Line Items]
Preferred stock, shares issued (in shares) | shares		1,000		1,000		1,000
Stock-based compensation expense | $			$ 38	$ 19	$ 38
Common stock, par value (in dollars per share)		$ 0.001		$ 0.001		$ 0.001
XIX Merger Agreement
Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01
Class of Stock [Line Items]
Conversion of stock, conversion ratio	9,171.98
Common stock, par value (in dollars per share)	$ 0.01
HIREIT Merger
Class of Stock [Line Items]
Conversion of stock, conversion ratio	0.752222
HIREIT Merger | Common Stock
Class of Stock [Line Items]
Conversion of stock, conversion ratio	0.863235
HIREIT Merger | Subordinated Common Stock
Class of Stock [Line Items]
Conversion of stock, conversion ratio	0.752222
Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares) | shares		1,000		1,000		1,000
Share price (in dollars per share)		$ 10		$ 10		$ 10
Conversion terms, cumulative annual return on issue price, percentage				6.00%
Conversion terms, performance threshold				6.00%
Conversion terms, percentage of excess enterprise value				15.00%
8% Cumulative Preferred Stock | XIX Merger Agreement
Class of Stock [Line Items]
Conversion of stock, conversion ratio	1.238477
Preferred stock, dividend rate	8.00%
9% Cumulative Preferred Stock | XIX Merger Agreement
Class of Stock [Line Items]
Conversion of stock, conversion ratio	1.238477
Preferred stock, dividend rate	9.00%
Restricted common stock
Class of Stock [Line Items]
Grants in period (shares) | shares		1,500	3,000	1,500	3,000
Stock-based compensation expense | $		$ 19

Stockholders' Equity - Distribu

Stockholders' Equity - Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Dec. 31, 2019
Equity [Abstract]
Distributions per Common Share (in dollars per share)	$ 0.175	$ 0.175	$ 0.175	$ 0.175	$ 0.175	$ 0.171	$ 0.350	$ 0.696
Total Distributions	$ 3,220	$ 3,223	$ 3,223	$ 3,224	$ 3,223	$ 3,141	$ 6,443	$ 12,811

Incentive Award Plan (Details)

Incentive Award Plan (Details)	6 Months Ended
	Jun. 30, 2020shares
Share-based Payment Arrangement [Abstract]
Shares reserved for issuance (in shares)	5,000,000
Percentage of outstanding stock maximum	10.00%