RREEF Property Trust (ZRPTIX) 10-K 23 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 18, 2016
Document Information [Line Items]
Entity Registrant Name	RREEF Property Trust, Inc.
Entity Central Index Key	1,542,447
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float	$ 0
Common Class T [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,208
Common Class I [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,193,244
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,210,181

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Land	$ 31,754,687	$ 26,568,494
Buildings and improvements, less accumulated depreciation of $3,497,151 and $1,289,650, respectively	80,061,236	50,904,672
Furniture, fixtures and equipment, less accumulated depreciation of $26,166 and $0, respectively	339,735	0
Acquired intangible lease assets, less accumulated amortization of $4,782,000 and $1,937,709, respectively	23,149,688	13,955,962
Total investment in real estate assets, net	135,305,346	91,429,128
Investment in marketable securities	8,569,004	6,400,611
Total investment in real estate assets and marketable securities, net	143,874,350	97,829,739
Cash and cash equivalents	1,936,870	2,119,387
Receivables	1,112,429	550,660
Prepaids and other assets	1,142,624	170,454
Total assets	148,066,273	100,670,240
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit, net of unamortized deferred financing costs of $715,544 and $162,938, respectively	71,784,456	48,237,062
Accounts payable and accrued expenses	295,488	316,939
Due to affiliates	12,041,732	9,203,208
Acquired below market lease intangibles, less accumulated amortization of $669,589 and $188,045, respectively	7,858,949	8,340,493
Distributions payable	192,435	87,045
Other liabilities	2,193,557	877,848
Total liabilities	94,366,617	67,062,595
Stockholders' Equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized, none issued	0	0
Additional paid in capital	64,383,302	39,016,222
Accumulated deficit	(11,439,005)	(6,035,150)
Accumulated other comprehensive income	695,440	589,482
Total stockholders' equity	53,699,656	33,607,645
Total liabilities and stockholders' equity	148,066,273	100,670,240
Common Class A [Member]
Stockholders' Equity:
Common stock	30,776	18,087
Common Class B [Member]
Stockholders' Equity:
Common stock	$ 29,143	$ 19,004

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Buildings and improvements, accumulated depreciation	$ 3,497,151	$ 1,289,650
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	26,166	0
Acquired intangible lease assets, accumulated amortization	4,782,000	1,937,709
Deferred finance costs, accumulated amortization	715,544	162,938
Off-market lease, unfavorable, accumulated depreciation	$ 669,589	$ 188,045
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000
Common Class A [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	3,077,546	1,808,602
Common stock, shares outstanding (in shares)	3,077,546	1,808,602
Common Class B [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	2,914,314	1,900,362
Common stock, shares outstanding (in shares)	2,914,314	1,900,362

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues
Rental and other property income	$ 8,050,514	$ 4,591,711	$ 761,684
Tenant reimbursement income	1,066,073	593,845	14,705
Investment income on marketable securities	284,627	133,208	81,316
Total revenues	9,401,214	5,318,764	857,705
Expenses
General and administrative expenses	2,012,137	2,232,336	1,653,358
Property operating expenses	2,118,849	1,007,235	35,872
Advisory expenses	607,614	0	0
Acquisition related expenses	603,539	333,554	137,484
Depreciation	2,233,667	1,097,034	192,616
Amortization	2,735,138	1,461,422	409,194
Total operating expenses	10,310,944	6,131,581	2,428,524
Operating loss	(909,730)	(812,817)	(1,570,819)
Interest expense	(1,330,601)	(1,078,124)	(324,560)
Net realized gain (loss) upon sale of marketable securities	12,635	91,837	(85,824)
Net loss	$ (2,227,696)	$ (1,799,104)	$ (1,981,203)
Weighted average number of common shares outstanding:
Basic and diluted (in shares)	4,989,809	2,870,160	800,194
Net loss per common share:
Basic and diluted (in usd per share)	$ (0.45)	$ (0.63)	$ (2.48)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,227,696)	$ (1,799,104)	$ (1,981,203)
Other comprehensive loss:
Reclassification of previous unrealized (gain) loss on marketable securities into net realized (gain) loss	(12,635)	(91,837)	85,824
Unrealized gain (loss) on marketable securities	118,593	856,890	(261,395)
Total other comprehensive income (loss)	105,958	765,053	(175,571)
Comprehensive loss	$ (2,121,738)	$ (1,034,051)	$ (2,156,774)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Class A [Member]	Common Class B [Member]	Preferred Stock	Common StockCommon Class A [Member]	Common StockCommon Class B [Member]	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance (shares) at Dec. 31, 2012				0	0	16,667
Balance at Dec. 31, 2012	$ 200,000			$ 0	$ 0	$ 167	$ 199,833	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares					976,426	1,169,426
Issuance of common stock, value	26,186,653				$ 9,765	$ 11,694	26,165,194
Issuance of common stock through the distribution reinvestment plan (in shares)		1,734	26,104		1,734	26,104
Issuance of common stock through the distribution reinvestment plan	339,130				$ 17	$ 261	338,852
Distributions to investors	(473,003)							(473,003)
Dealer-manager fees	(19,047)						(19,047)
Other offering costs	(3,901,887)						(3,901,887)
Comprehensive loss	(2,156,774)							(1,981,203)	(175,571)
Balance (shares) at Dec. 31, 2013				0	978,160	1,212,197
Balance at Dec. 31, 2013	20,175,072			$ 0	$ 9,782	$ 12,122	22,782,945	(2,454,206)	(175,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares					811,790	693,608
Issuance of common stock, value	18,916,109				$ 8,118	$ 6,936	18,901,055
Issuance of common stock through the distribution reinvestment plan (in shares)		28,660	54,948		28,660	54,948
Issuance of common stock through the distribution reinvestment plan	1,047,236				$ 287	$ 550	1,046,399
Redemption of common stock, Shares		(10,008.473)	(60,391.121)		(10,008)	(60,391)
Redemption of common stock	(877,465)	$ (122,388)	$ (765,272)		$ (100)	$ (604)	(876,761)
Distributions to investors	(1,781,840)							(1,781,840)
Dealer-manager fees	(135,491)						(135,491)
Other offering costs	(2,701,925)						(2,701,925)
Comprehensive loss	(1,034,051)							(1,799,104)	765,053
Balance (shares) at Dec. 31, 2014				0	1,808,602	1,900,362
Balance at Dec. 31, 2014	33,607,645			$ 0	$ 18,087	$ 19,004	39,016,222	(6,035,150)	589,482
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares					1,285,930	1,240,727
Issuance of common stock, value	32,581,726				$ 12,859	$ 12,407	32,556,460
Issuance of common stock through the distribution reinvestment plan (in shares)		56,794	48,103		56,794	48,103
Issuance of common stock through the distribution reinvestment plan	1,342,575				$ 568	$ 481	1,341,526
Redemption of common stock, Shares		(73,779.978)	(274,878.197)		(73,780)	(274,878)
Redemption of common stock	(4,393,947)	$ (937,876)	$ (3,513,911)		$ (738)	$ (2,749)	(4,390,460)
Distributions to investors	(3,176,159)							(3,176,159)
Dealer-manager fees	(284,584)						(284,584)
Other offering costs	(3,855,862)						(3,855,862)
Comprehensive loss	(2,121,738)							(2,227,696)	105,958
Balance (shares) at Dec. 31, 2015				0	3,077,546	2,914,314
Balance at Dec. 31, 2015	$ 53,699,656			$ 0	$ 30,776	$ 29,143	$ 64,383,302	$ (11,439,005)	$ 695,440

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (2,227,696)	$ (1,799,104)	$ (1,981,203)
Depreciation	2,233,667	1,097,034	192,616
Net realized (gain) loss upon sale of marketable securities	(12,635)	(91,837)	85,824
Amortization of intangible lease assets and liabilities	2,362,747	1,341,516	408,148
Amortization of deferred financing costs	372,071	385,978	183,684
Straight line rent	(431,065)	(342,643)	(64,384)
Changes in assets and liabilities:
Receivables	(140,554)	(50,680)	(65,492)
Prepaids and other assets	(474,991)	(83,478)	(17,959)
Accounts payable and accrued expenses	(473,689)	197,254	42,341
Other liabilities	544,416	135,025	(64,313)
Due to affiliates	1,097,737	2,128,248	1,792,450
Net cash provided by operating activities	2,850,008	2,917,313	511,712
Cash flows from investing activities:
Investment in real estate and related assets	(48,954,401)	(59,719,256)	(25,871,811)
Capital expenditures	(4,177)	0	0
Investment in marketable securities	(11,757,605)	(6,256,592)	(5,529,794)
Proceeds from sale of marketable securities	9,653,838	3,635,477	2,393,787
Net cash used in investing activities	(51,062,345)	(62,340,371)	(29,007,818)
Cash flows from financing activities:
Proceeds from line of credit	92,926,851	51,400,000	12,200,000
Repayments of line of credit	(68,826,851)	(8,500,000)	(6,700,000)
Proceeds from issuance of common stock	32,581,726	19,031,109	26,071,653
Payment of offering costs	(1,607,660)	(1,582,605)	(217,622)
Distributions to stockholders	(3,070,769)	(1,737,103)	(430,695)
Repurchase of shares	(4,393,947)	(877,465)	0
Common stock issued through the distribution reinvestment plan	1,342,575	1,047,236	339,130
Deferred financing costs paid	(922,105)	(154,871)	(50,216)
Net cash provided by financing activities	48,029,820	58,626,301	31,212,250
Net (decrease) increase in cash and cash equivalents	(182,517)	(796,757)	2,716,144
Cash and cash equivalents, beginning of period	2,119,387	2,916,144	200,000
Cash and cash equivalents, end of period	1,936,870	2,119,387	2,916,144
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Accrued offering costs payable to affiliates	2,663,945	1,944,335	3,691,697
Distributions declared and unpaid	192,435	87,045	42,308
Deferred Finance Costs, Gross	2,572	5,839	521,675
Unrealized gain (loss) on marketable securities	105,958	765,053	(175,571)
Purchases of marketable securities not yet paid	11,639	75,456	29,476
Proceeds from sale of marketable securities not yet received	(17,611)	(27,461)	(21,881)
Proceeds from issuance of common stock not yet received	0	0	(115,000)
Interest paid	869,195	550,565	44,414
In connection with the purchase of investments in real estate and related assets, the Company also assumed certain non-real estate assets and liabilities:
Purchase price	48,950,000	60,100,000	26,027,948
Prepaids and other assets assumed	75,832	64,470	4,546
Other liabilities assumed	$ (71,431)	$ (445,214)	$ (160,683)

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION RREEF Property Trust, Inc. (the “Company”) was formed on February 7, 2012 as a Maryland corporation and has elected to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. On February 14, 2012, RREEF America L.L.C., a Delaware limited liability company (“RREEF America”), the Company's sponsor and advisor, purchased 16,667 shares of the Company’s Class B common stock for a total cash consideration of $200,000 to provide the Company’s initial capitalization. Substantially all of the Company's business is conducted through RREEF Property Operating Partnership, LP, the Company's operating partnership (the “Operating Partnership”). The Company is the sole general partner of the Operating Partnership and contributed $199,000 to the Operating Partnership in exchange for its general partner interest. RREEF Property OP Holder, LLC (the “OP Holder”), a wholly-owned subsidiary of the Company and the initial limited partner of the Operating Partnership, contributed $1,000 to the Operating Partnership. As the Company completes the settlement for purchase orders for shares of its common stock in its continuous public offering, it will continue to transfer substantially all of the net proceeds of the offering to the Operating Partnership. The Company was organized to invest primarily in a diversified portfolio consisting primarily of high quality, income-producing commercial real estate located in the United States, including, without limitation, office, industrial, retail and multifamily properties (“Real Estate Properties”). Although the Company intends to invest primarily in Real Estate Properties, it also intends to acquire common and preferred stock of REITs and other real estate companies (“Real Estate Equity Securities”) and debt investments backed principally by real estate (“Real Estate Loans” and, together with Real Estate Equity Securities, “Real Estate-Related Assets”). The Company is offering to the public, pursuant to a registration statement on form S-11 (File No. 333-180356) filed under the Securities Act of 1933, as amended (the "Registration Statement"), up to $2,250,000,000 of shares of its common stock in its primary offering and up to $250,000,000 of shares of its common stock to its stockholders pursuant to its distribution reinvestment plan (the “Offering”). Through December 31, 2015, the Company was offering to the public two classes of shares of its common stock, Class A shares and Class B shares. The Company was offering to sell any combination of Class A and Class B shares with a dollar value up to the maximum offering amount. The Company may reallocate the shares offered between the primary offering and the distribution reinvestment plan. On January 3, 2013, the Registration Statement was initially declared effective by the Securities and Exchange Commission. On May 30, 2013, RREEF America purchased $10,000,000 of the Company's Class B shares in the Offering, and the Company’s board of directors authorized the release of the escrowed funds to the Company, thereby allowing the Company to commence operations. Shares of the Company’s common stock are being sold at the Company’s net asset value (“NAV”) per share, plus, for Class A shares only, applicable selling commissions. Each class of shares may have a different NAV per share because of certain class-specific fees and expenses, such as the distribution fee. NAV per share is calculated by dividing the NAV at the end of each business day for each class by the number of shares outstanding for that class on such day. On January 27, 2016, the Company amended its articles of incorporation to change the name of the Class B shares to Class I shares and add new Class T and Class N share classes. The Company also changed the NASDAQ Mutual Fund Quotation System symbol for its Class B shares to ZRPTIX, from ZRPTBX. See Note 15 - Subsequent Events. The Company is also offering Class D shares of common stock in a private placement. The Company's NAV per share for its Class A, Class I and Class T shares is posted to the Company's website at www.rreefpropertytrust.com after the stock market close each business day. Additionally, the Company's NAV per share for its Class A, Class I and Class T shares is published daily via NASDAQ's Mutual Fund Quotation System under the symbols ZRPTAX, ZRPTIX and ZRPTTX for its Class A shares, Class I shares and Class T shares, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), the authoritative reference for U.S. generally accepted accounting principles (“GAAP”). There have been no significant changes to the Company's significant accounting policies during the year ended December 31, 2015 . Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts. There are no restrictions on the use of the Company’s cash balance. Real Estate Investments and Lease Intangibles Real estate investments are stated at cost less accumulated depreciation and amortization. Buildings and improvements are depreciated utilizing the straight-line method over an estimated useful life of 20 to 40 years for industrial, retail and office properties, and 27.5 years for residential. Tenant improvements and lease commissions are amortized over the terms of the respective tenant leases. Furniture and equipment is depreciated over an estimated useful life ranging from 5 to 7 years. Costs related to the acquisition of properties, as well as ongoing, ordinary repair and maintenance costs, are expensed as incurred. In accordance with FASB ASC 805, Business Combinations, and FASB ASC 350, Intangibles—Goodwill and Other, acquisitions of properties are accounted for utilizing the acquisition method and, accordingly, the results of operations of acquired properties will be included in the Company’s results of operations from their respective dates of acquisition. Estimates of future cash flows and other valuation techniques believed to be similar to those used by independent appraisers are used to allocate the purchase price of identifiable assets acquired and liabilities assumed such as land, buildings and improvements, equipment and identifiable intangible assets and liabilities such as amounts related to in-place leases, acquired above- and below-market leases, tenant relationships, asset retirement obligations and mortgage notes payable. Values of buildings and improvements are determined on an as-if-vacant basis. Initial allocations are subject to change until such information is finalized, which may be no later than 12 months from the acquisition date. The estimated fair value of acquired in-place leases are the costs the Company would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include the fair value of leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, the Company evaluates the time period over which such occupancy levels would be achieved. Such evaluation will include an estimate of the net market-based rental revenues and net operating costs (primarily consisting of forgone rents, real estate taxes, recoverable charges and insurance) that would be incurred during the lease-up period, which generally ranges up to one year. Acquired in-place leases as of the date of acquisition are amortized over the remaining lease terms into amortization expense. Acquired above- and below-market lease values are estimated based on the present value (using an interest rate that reflects the risks associated with the lease acquired) of the difference between the contractual amounts to be paid pursuant to the in-place leases and the Company’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized to rental revenue over the remaining terms of the respective leases, which include, for below-market leases, periods covered by bargain fixed-rate renewal options if, at the time of acquisition, the exercise of such renewal options are determined to be reasonably assured. If a lease is terminated prior to its scheduled expiration, the unamortized portion of the in-place lease is charged to amortization expense and the unamortized portion of the above- or below-market lease is charged to rental revenue. The carrying value of the real estate investments are reviewed to ascertain if there are any indicators of impairment. Factors considered include the type of asset, the economic situation in the area in which the asset is located, the economic situation in the industry in which a tenant is involved and the timeliness of the payments made by a tenant under its lease, as well as any current correspondence that may have been had with a tenant, including property inspection reports. A real estate investment is impaired if the undiscounted cash flows over the expected hold period are less than the real estate investment’s carrying amount. In this case, an impairment loss will be recorded to the extent that the estimated fair value is lower than the real estate investment’s carrying amount. The estimated fair value is determined primarily using information contained within independent appraisals obtained quarterly by the Company from its independent valuation agent. Real estate investments that are expected to be disposed of are valued at the lower of carrying amount or estimated fair value less costs to sell. As of December 31, 2015 and 2014, none of the Company's real estate investments were impaired. Investments in Marketable Securities In accordance with the Company’s investment guidelines as approved by the Company’s board of directors, investments in marketable securities may consist of common and preferred stock of publicly-traded REITs and other real estate operating companies. The Company determines the appropriate classification for these securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of December 31, 2015 and 2014, the Company classified its investments in marketable securities as available-for-sale as the Company intends to hold the securities for the purpose of collecting dividend income and for longer term price appreciation. These investments are carried at their estimated fair value based on published prices for each security. Unrealized gains and losses are reported in accumulated other comprehensive income (loss). Any non-temporary decline in the market value of an available-for-sale security below cost results in a reduction in the carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. When a security is impaired, the Company considers whether it has the ability and intent to hold the investment for a time sufficient to allow for any anticipated recovery in market value and considers whether evidence indicating the cost of the investment being recoverable outweighs evidence to the contrary. Evidence considered in this assessment includes the reasons for the impairment, the severity and duration of the impairment, changes in value subsequent to period end and forecasted performance of the investee. Securities may be sold if the Company believes a security has attained its target maximum value or if other conditions exist whereby the Company believes that the value of its investment in a particular security has a larger than desired risk of declining. The Company considers many factors in determining whether to hold or sell a security, including, but not limited to, recent events specific to the issuer or industry, external credit ratings and recent changes in such ratings. Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares with the highest cost are sold first. Deferred Financing Costs Deferred financing costs are the direct costs associated with obtaining financing. Such costs include commitment fees, legal fees and other third-party costs associated with obtaining commitments for financing that result in a closing of such financing. The Company capitalizes these costs and amortizes them on a straight-line basis, which approximates the effective interest method, over the terms of the obligations, once the loan process is completed. Amortization of deferred financing costs is included in interest expense in the consolidated statements of operations. The unamortized portion of deferred financing costs is reflected as a reduction of the outstanding debt balance on the consolidated balance sheet. Borrowings The Company may obtain various forms of borrowings from market participants. Generally, borrowings originated by the Company will be recorded at amortized cost. The Company may also assume borrowings in connection with acquisitions. The Company will estimate the fair value of assumed borrowings based upon indications of then-current market pricing for similar types of debt with similar maturities. The assumed borrowings will initially be recorded at their estimated fair value as of the assumption date, with the difference between such estimated fair value and the borrowings’ outstanding principal balance being amortized over the remaining life of the borrowing. Revenue Recognition Rental revenue from real estate investments is recognized on a straight-line basis over the terms of the related leases. The differences between rental revenue earned from real estate investments and amounts due under the respective lease agreements are amortized or accreted, as applicable, to deferred rent receivable. Rental revenue will also include amortization of above- and below-market leases. Revenues relating to lease termination fees will be recognized at the time that a tenant’s right to occupy the leased space is terminated and collectability is reasonably assured. Also included in rental revenue are tenant reimbursements of certain operating expenses and percentage rents determined in accordance with the terms of the lease agreements. Investment income from marketable securities is accrued at the time the income becomes payable to the Company. Organization and Offering Expenses Organizational expenses and other expenses which do not qualify as offering costs are expensed as incurred from and after the commencement of operations. Offering costs are those costs incurred by the Company, RREEF America and its affiliates on behalf of the Company which relate directly to the Company’s activities of raising capital in the Offering, preparing for the Offering, the qualification and registration of the Offering, and the marketing and distribution of the Company’s shares. This includes, but is not limited to, accounting and legal fees, including the legal fees of SC Distributors, LLC, the dealer manager for the Offering (the “Dealer Manager”), costs for registration statement amendments and prospectus supplements, printing, mailing and distribution costs, filing fees, amounts to reimburse RREEF America as the Company’s advisor or its affiliates for the salaries of employees and other costs in connection with preparing supplemental sales literature, amounts to reimburse the Dealer Manager for amounts that it may pay to reimburse the bona fide due diligence expenses of any participating broker-dealers supported by detailed and itemized invoices, telecommunication costs, fees of the transfer agent, registrars, trustees, depositories and experts, the cost of educational conferences held by the Company (including the travel, meal and lodging costs of registered representatives of any participating broker-dealers), and attendance fees and cost reimbursement for employees of affiliates to attend retail seminars conducted by broker-dealers. Offering costs will be deferred and will be paid from the proceeds of the Offering. These costs will be treated as a reduction of the total proceeds. Total organization and offering costs incurred by the Company will not exceed 15% of the gross proceeds from the Offering. The Company pays ongoing fees to the Dealer Manager with respect to its Class A and Class B shares, including (1) a dealer manager fee equal to 0.55% per annum of the net asset value of such shares outstanding, provided that the Company does not pay a dealer manager fee on the net asset value of the shares held by RREEF America, and (2) a distribution fee of 0.50% per annum of the net asset value of the Company's Class A shares outstanding. The ongoing fees are compensation to the Dealer Manager for providing to the Company ongoing support in connection with the distribution of such shares, including, but not limited, to assistance with broker-dealer due diligence efforts, providing education and training to broker-dealer representatives and attendance at broker-dealer sponsored events on behalf of the Company. The ongoing fees are earned and accrued daily and are not payable until each day has passed. The Company accounts for the ongoing fees as offering costs. The total amount of ongoing fees payable to the Dealer Manager is dependent upon, among other factors, (a) shares remaining outstanding, (b) shares remaining under the relationship of a broker-dealer who is registered to sell the Company's shares, and (c) the Company's total organization and offering costs being subject to a limit of 15% of the gross proceeds from the Offering. The Company also pays fees to the Dealer Manager with respect to its Class T shares and to the distribution agents for its Class D shares. Such fees are not reflected in these consolidated financial statements because the Company did not offer those classes of shares as of December 31, 2015. Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), beginning with the year ended December 31, 2013. In order to maintain the Company’s qualification as a REIT, the Company is required to, among other things, distribute as dividends at least 90% of the Company’s REIT taxable income, determined without regard to the dividends-paid deduction and excluding net capital gains, to the Company’s stockholders, and meet certain tests regarding the nature of the Company’s income and assets. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal income tax to the extent it meets certain criteria and distributes its REIT taxable income to its stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to (1) certain state and local taxes on its income, property or net worth, and (2) federal income and excise taxes on its undistributed income, if any income remains undistributed. The Company intends to operate in a manner that allows the Company to meet the requirements for taxation as a REIT, including creating taxable REIT subsidiaries to hold assets that generate income that would not be consistent with the rules applicable to qualification as a REIT if held directly by the REIT. If the Company were to fail to meet these requirements, it could be subject to federal income tax on the Company’s taxable income at regular corporate rates. The Company would not be able to deduct distributions paid to stockholders in any year in which it fails to qualify as a REIT. The Company will also be disqualified for the four taxable years following the year during which qualification was lost unless the Company is entitled to relief under specific statutory provisions. Reportable Segments The Company intends to operate in three primary segments: (1) Real Estate Properties, (2) Real Estate Equity Securities, and (3) Real Estate Loans. Concentration of Credit Risk As of December 31, 2015 , 2014 and 2013, the Company had cash on deposit at multiple financial institutions which were in excess of federally insured levels. The Company limits significant cash holdings to accounts held by financial institutions with a high credit standing. Therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. As of December 31, 2015 , the Company owned six commercial properties with fourteen tenants and one student housing property with 316 beds. As of December 31, 2014 , the Company owned five commercial properties housing thirteen tenants. As of December 31, 2013, the Company owned two commercial properties housing six tenants. Percentages of gross rental revenues by location and tenant representing more than 10% of the Company's total gross rental revenues (rental and other property income and tenant reimbursement income) for the years ended December 31, 2015, 2014 and 2013 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Terra Nova Plaza, Chula Vista, CA 24.5 % 10.7 % — % Anaheim Hills Office Plaza, Anaheim, CA 22.2 19.7 — Commerce Corner, Logan Township, NJ 19.1 23.6 — Heritage Parkway, Woodridge, IL 13.7 24.1 94.6 Wallingford Plaza, Seattle, WA 11.9 21.9 5.4 Total 91.4 % 100.0 % 100.0 % Percent of actual gross rental revenues Tenant - Property Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 15.2 % 13.3 % — % Allstate Insurance Company - Heritage Parkway 13.7 24.1 94.6 The Sports Authority, Inc. - Terra Nova Plaza 12.4 5.4 — Bed Bath & Beyond, Inc. - Terra Nova Plaza 12.2 5.3 — Performance Food Group, Inc. - Commerce Corner 11.6 14.3 — Walgreen Company - Wallingford Plaza 6.3 11.3 2.9 Total 71.4 % 73.7 % 97.5 % The Company's tenants representing more than 10% of in-place annualized base rental revenues as of December 31, 2015, 2014 and 2013 were as follows: Percent of in-place annualized base rental revenues as of Tenant - Property December 31, 2015 December 31, 2014 December 31, 2013 Orbital ATK Inc. - Loudoun Gateway 21.6 % — % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 11.0 18.9 — Allstate Insurance Company - Heritage Parkway 10.4 18.7 58.0 Performance Food Group, Inc. - Commerce Corner — 12.5 — The Sports Authority, Inc. - Terra Nova Plaza — 11.8 — Walgreen Company - Wallingford Plaza — — 24.7 Total 43.0 % 61.9 % 82.7 % On March 2, 2016, The Sports Authority, Inc. declared bankruptcy. At such time, The Sports Authority, Inc. had paid its rent at Terra Nova Plaza for January and February 2016. The Sports Authority, Inc. is working through a restructuring plan and has publicly announced plans to close 140 of its 463 stores. The Sports Authority, Inc. location at Terra Nova Plaza is not currently on such list. We continue to closely monitor the situation as The Sports Authority, Inc. implements a plan to restructure. Recent Accounting Pronouncements On May 28, 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, Revenue From Contracts With Customers. ASU 2014-09 requires entities to recognize revenue in their financial statements in a manner that depicts the transfer of the promised goods or services to its customers in an amount that reflects the consideration to which the entity is entitled at the time of transfer of those goods or services. As a result, the amount and timing of revenue recognition may be affected. However, certain types of contracts are excluded from the provisions of ASU 2014-09, including leases. Presently, the Company's rental and other property income and tenant reimbursement income as reflected on the Company's consolidated statements of operations are the result of lease contracts and as such, are not within the scope of ASU 2014-09. However, other types of real estate related contracts, such as for dispositions or development of real estate, may be impacted by ASU 2014-09. In addition, ASU 2014-09 requires additional disclosures regarding revenue recognition. ASU 2014-09 was originally scheduled to become effective for the Company beginning January 1, 2017. However, on August 12, 2015, the FASB issued ASU 2015-14 which delayed the effective date of ASU 2014-09 by one year. As such, ASU 2014-09 would become effective on January 1, 2018 for the Company for both its interim and annual reporting periods. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company has not yet evaluated the impact of ASU 2014-09 on its consolidated financial statements. On August 27, 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. ASU 2014-15 provides guidance on determining when and how to disclose going concern uncertainties in an entity's financial statements. The new standard requires management to perform interim and annual assessments of the likelihood the entity will be unable to meet its obligations as they come due for a period of one year beyond the date the financial statements are issued. An entity must provide certain disclosures if there is substantial doubt about the entity’s ability to meet those obligations. The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company has not yet evaluated the impact of ASU 2014-15 on its consolidated financial statements. On April 7, 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30)— Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03. For public business entities, ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of ASU 2015-03 is permitted. Effective January 1, 2015, the Company elected to adopt ASU 2015-03 on a retrospective basis wherein the balance sheets for all periods presented are adjusted to reflect the period-specific effects of applying the new guidance. See Note 6 - Line of Credit. On April 15, 2015, the FASB issued ASU 2015-05, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. ASU 2015-05 clarifies the circumstances under which a cloud computing customer would account for the arrangement as a license of internal-use software under ASC 350-40. It requires the Company to determine whether a cloud computing arrangement contains a software license. If the arrangement contains a software license, the accounting for the fees related to the software license element would be in a manner consistent with how the acquisition of other software licenses are accounted for under ASC 350-40. If the arrangement does not contain a software license, the accounting for the arrangement would be as a service contract. ASU 2015-05 is effective for the Company for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted for all entities. Through December 31, 2015, the Company has accounted for its cloud computing arrangements as service contracts. The Company does not expect any impact upon the adoption of ASU 2015-05 on its consolidated financial statements. On September 25, 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) - Simplifying the Accounting for Measurement Period Adjustments. ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. ASU 2015-16 requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current period earnings by line item that would have been recorded in the previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for the Company for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The Company does not expect any impact upon the adoption of ASU 2015-16 on its consolidated financial statements. On January 5, 2016, the FASB issued ASU 2016-01, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 amends the guidance on the classification and measurement of financial instruments. Although ASU 2016-01 retains many current requirements, it significantly revises an entity’s accounting related to investments in equity securities, excluding those accounted for under the equity method of accounting or those that result in consolidation of the investee. The guidance also amends certain disclosure requirements associated with the fair value of financial instruments. ASU 2016-01 is effective on January 1, 2018 for the Company for both its interim and annual reporting periods. The Company has not yet evaluated the impact of ASU 2016-01 on its consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. As a basis for considering market participant assumptions in fair value measurements, FASB ASC 820, Fair Value Measurement and Disclosures, establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are the unobservable inputs for the asset or liability, which are typically based on an entity's own assumption, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on input from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company's investments in marketable securities are valued using Level 1 inputs as the securities are publicly traded on major stock exchanges. FASB ASC 825-10-65-1 requires the Company to disclose fair value information for all financial instruments for which it is practicable to estimate fair value, whether or not recognized in the consolidated balance sheets. Fair value of lines of credit and loans payable is determined using Level 2 inputs and a discounted cash flow approach with an interest rate and other assumptions that approximate current market conditions. The carrying amount of the Company's line of credit at December 31, 2015 and 2014 approximated its fair value of $72,500,000 and $48,400,000 , respectively. See Note 6 - Line of Credit. The Company's financial instruments, other than the line of credit, are generally short-term in nature and contain minimal credit risk. These instruments consist of cash and cash equivalents, accounts and other receivables and accounts payable. The carrying amounts of these assets and liabilities in the consolidated balance sheets approximate their fair value.

REAL ESTATE INVESTMENTS

REAL ESTATE INVESTMENTS	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS On May 31, 2013, the Company acquired 9022 Heritage Parkway ("Heritage Parkway"), a low-rise office building located outside of Chicago, Illinois. Heritage Parkway was acquired for $ 13,300,000 , excluding closing costs. The acquisition was funded with proceeds from the Offering and $6,700,000 from the Company's Regions line of credit. Heritage Parkway is a 94,233 square-foot office building 100% leased to Allstate Insurance Company. On December 18, 2013, the Company acquired a mixed-use (retail and office) building located in Seattle, Washington ("Wallingford Plaza") for a purchase price of approximately $12,728,000 , excluding closing costs. The acquisition was funded with proceeds from the Offering and by borrowing $5,500,000 under the Company's Regions line of credit. Wallingford Plaza is a 30,761 square-foot, three -story, mixed-use (office over retail) building fully leased to five tenants. On April 11, 2014, the Company acquired 1109 Commerce Boulevard ("Commerce Corner") for a purchase price of $19,750,000 , excluding closing costs. The acquisition was funded with proceeds from the Offering and by borrowing $17,600,000 under the Company's Regions line of credit. Of this borrowed amount, $8,840,000 related to Commerce Corner while the balance was borrowed against available capacity from Heritage Parkway and Wallingford Plaza. Commerce Corner consists of a 259,910 square-foot industrial building fully leased to two tenants and an adjacent land parcel. On July 2, 2014 , the Company acquired Anaheim Hills Office Plaza (" Anaheim Hills ") for a purchase price of $18,500,000 , excluding closing costs. The acquisition was funded with proceeds from the Offering and by borrowing $14,700,000 under the Company's Regions line of credit. Of this borrowed amount, $10,130,000 related to Anaheim Hills while the balance was borrowed against available capacity from the other three properties. Anaheim Hills consists of a 73,892 square-foot office building fully leased to three tenants. On October 2, 2014 , the Company acquired Terra Nova Plaza (" Terra Nova Plaza") for a purchase price of $21,850,000 , excluding closing costs. The acquisition was funded with proceeds from the Offering and by borrowing $19,100,000 under the Company's Regions line of credit. Of this borrowed amount, $12,000,000 related to Terra Nova Plaza while the balance was borrowed against available capacity from the other four properties. Terra Nova Plaza consists of a 96,114 square-foot retail building fully leased to two tenants. On September 30, 2015 , the Company acquired The Flats at Carrs Hill ("The Flats at Carrs Hill") for a purchase price of $27,000,000 , exclusive of closing costs. The Company funded the acquisition, including closing costs, with existing cash and by borrowing $27,000,000 under the Company's line of credit with Wells Fargo. Of the $27,000,000 borrowed, $13,570,962 was from existing borrowing capacity on previously acquired properties, while $13,429,038 was allocated to The Flats at Carrs Hill. The Flats at Carrs Hill is a five -story, 316 bed ( 138 unit) student housing property containing 135,864 square feet of rentable apartment area. On December 21, 2015 , the Company acquired Loudoun Gateway l ("Loudoun Gateway") for a purchase price of $21,950,000 , excluding closing costs. The acquisition was funded with proceeds from the Offering and by borrowing $20,000,000 under the Company's line of credit with Wells Fargo. Of this borrowed amount, $11,780,984 relates to Loudoun Gateway while the balance was borrowed against available capacity from the other six properties. Loudoun Gateway consists of a 102,015 square-foot office building fully leased to one tenant. All leases at the Company's properties have been classified as operating leases. The Company allocated the purchase price of the Company's properties to the fair value of the major components of the assets acquired and liabilities assumed, using Level 3 inputs and assumptions, as follows: Loudoun Gateway The Flats at Carrs Hill 2015 Total Land $ 2,042,441 $ 3,143,752 $ 5,186,193 Building and improvements 9,974,457 21,389,609 31,364,066 Furniture, fixtures and equipment — 361,724 361,724 Acquired in-place leases 9,707,433 2,104,915 11,812,348 Acquired above-market leases 225,669 — 225,669 Total purchase price $ 21,950,000 $ 27,000,000 $ 48,950,000 Commerce Corner Anaheim Hills Terra Nova Plaza 2014 Total Land $ 3,396,679 $ 6,519,531 $ 10,628,293 $ 20,544,503 Building and improvements 14,304,272 9,002,457 14,054,509 37,361,238 Acquired in-place leases 2,258,817 2,830,140 4,228,979 9,317,936 Acquired above-market leases 393,562 220,199 — 613,761 Acquired below-market leases (603,330 ) (72,327 ) (7,061,781 ) (7,737,438 ) Total purchase price $ 19,750,000 $ 18,500,000 $ 21,850,000 $ 60,100,000 Heritage Parkway Wallingford Plaza 2013 Total Land $ 2,310,684 $ 3,713,306 $ 6,023,990 Building and improvements 7,206,490 7,626,594 14,833,084 Acquired in-place leases 3,773,246 2,179,148 5,952,394 Acquired above-market leases 9,580 — 9,580 Acquired below-market leases — (791,100 ) (791,100 ) Total purchase price $ 13,300,000 $ 12,727,948 $ 26,027,948 Future amortization related to acquired intangible assets and liabilities as of December 31, 2015 is as follows: Acquired in-place leases Acquired above-market leases Acquired below-market leases 2016 $ 4,751,434 $ 137,362 $ (478,507 ) 2017 3,126,055 134,986 (463,229 ) 2018 2,968,220 108,651 (462,314 ) 2019 1,884,813 82,511 (448,581 ) 2020 1,784,884 80,274 (433,153 ) Thereafter 7,961,518 128,980 (5,573,165 ) Total $ 22,476,924 $ 672,764 $ (7,858,949 ) The Company recorded revenues and net income related to the properties acquired during the years ended December 31, 2015, 2014 and 2013, as follows: Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Revenues $ 776,026 $ 2,801,262 $ 776,389 Net gain (loss) $ (1,165,400 ) $ 165,746 $ (51,791 ) The Company's estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisitions of Commerce Corner, Anaheim Hills, Terra Nova Plaza,The Flats at Carrs Hill and Loudoun Gateway were completed on January 1, 2014), for the year ended December 31, 2015 are as follows: Year Ended December 31, 2015 Revenues $ 13,156,144 Net loss $ (2,390,536 ) Net loss per common share: Basic and diluted $ (0.40 ) The Company’s estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisitions of Commerce Corner, Anaheim Hills and Terra Nova Plaza were completed on January 1, 2013), for the year ended December 31, 2014 are as follows (unaudited): Year Ended December 31, 2014 Revenues $ 8,401,645 Net loss $ (869,329 ) Net loss per common share: Basic and diluted $ (0.23 ) The Company’s estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisitions of Heritage Parkway, Wallingford Plaza, Commerce Corner, Anaheim Hills and Terra Nova Plaza were completed on January 1, 2013), for the year ended December 31, 2013 are as follows (unaudited): Year Ended December 31, 2013 Revenues $ 7,688,756 Net loss $ (1,053,858 ) Net loss per common share: Basic and diluted $ (0.48 ) The pro forma information for the years ended December 31, 2015, 2014 and 2013 does not include acquisition costs of $603,539 , $ 333,554 and $137,484 , respectively, as such costs are non-recurring. The weighted average shares outstanding used in the calculation of net loss per common share, basic and diluted were 5,978,320 , 3,708,964 and 2,190,357 for the years ended December 31, 2015, 2014 and 2013 , respectively. The pro forma information is unaudited and presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of period presented, nor does it purport to represent the results of future operations. The Company's rental and other property income for the years ended December 31, 2015, 2014 and 2013 is comprised of the following: 2015 2014 2013 Rental revenue $ 7,247,058 $ 4,129,162 $ 696,253 Straight-line revenue 431,065 342,643 64,384 Above- and below-market lease amortization 372,391 119,906 1,047 Rental and other property income $ 8,050,514 $ 4,591,711 $ 761,684 The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of the in-place leases as of December 31, 2015 are as follows: Year ended December 31, Future Minimum Rent 2016 $ 11,944,583 2017 9,144,242 2018 8,968,473 2019 6,469,056 2020 5,614,231 Thereafter 23,300,932 $ 65,441,517

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIES The following is a summary of the Company's marketable securities held as of December 31, 2015 and December 31, 2014 , which consisted entirely of publicly-traded shares of common stock in REITs as of each date. All marketable securities held as of December 31, 2015 and 2014 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. December 31, 2015 December 31, 2014 Marketable securities—cost $ 7,873,564 $ 5,811,129 Unrealized gains 827,989 592,470 Unrealized losses (132,549 ) (2,988 ) Net unrealized gain 695,440 589,482 Marketable securities—fair value $ 8,569,004 $ 6,400,611 Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares with the highest cost are sold first. During the year ended December 31, 2015 , marketable securities sold generated proceeds of $9,643,988 resulting in gross realized gains of $425,130 and gross realized losses of $412,495 . During the year ended December 31, 2014 , marketable securities sold generated proceeds of $3,641,057 resulting in gross realized gains of $169,692 and gross realized losses of $77,855 . During the year ended December 31, 2013, marketable securities sold generated proceeds of $2,393,787 resulting in gross realized gains of $35,197 and gross realized losses of $121,021 .

LINE OF CREDIT

LINE OF CREDIT	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
LINE OF CREDIT	LINE OF CREDIT Regions Line of Credit On May 1, 2013, the Operating Partnership, as borrower, and the Company, as guarantor, entered into a secured revolving line of credit arrangement (the “Regions Line of Credit”) pursuant to a credit agreement with Regions Bank and its affiliates, as administrative agent, sole lead arranger and sole book runner, and other lending institutions that may become parties to the credit agreement. The Regions Line of Credit had a capacity of $50,000,000 and could be used to fund acquisitions, redeem shares pursuant to the Company’s redemption plan and for any other corporate purpose. The initial term was set to expire on May 1, 2015. Borrowings under the Regions Line of Credit carried a specified interest rate which, at the option of the Company, could be comprised of (1) a base rate, equal to the prime rate, or (2) a rate based on the one-, two- or three-month London Interbank Offered Rate (“LIBOR”) plus a spread ranging from 220 to 250 basis points, depending on the Company's consolidated debt-to-value ratio. As of March 6, 2015, the repayment date, the outstanding balance and average interest rate were $42,400,000 and 2.66% , respectively. On March 6, 2015, the Company refinanced its Regions Line of Credit with a new line of credit from Wells Fargo Bank, National Association (described below). In connection therewith, the Company borrowed $43,426,851 from Wells Fargo which was used to fully repay and retire the Regions Line of Credit. As a result, the Company fully expensed unamortized deferred financing costs under the Regions Line of Credit in the amount of $82,762 . Wells Fargo Line of Credit On March 6, 2015, the Company, as guarantor, and the wholly-owned subsidiaries of the Operating Partnership, as co-borrowers, entered into a secured revolving line of credit arrangement (the “Wells Fargo Line of Credit”) pursuant to a credit agreement with Wells Fargo Bank, National Association, as administrative agent, and other lending institutions that may become parties to the credit agreement. The Wells Fargo Line of Credit has a three -year term with an initial maximum capacity of $75,000,000 and two one-year extension options exercisable by the Company upon satisfaction of certain conditions and payment of applicable extension fees. The interest rate under the Wells Fargo Line of Credit is based on the 1-month LIBOR with a spread of 170 to 190 basis points depending on the debt yield as defined in the agreement. In addition, the Wells Fargo Line of Credit is expandable by the Company up to a maximum capacity of $150,000,000 upon satisfaction of specified conditions. Each requested expansion must be for at least $25,000,000 and may result in the Wells Fargo Line of Credit being syndicated. As of December 31, 2015 , the outstanding balance and weighted average interest rate were $72,500,000 and 2.05% , respectively. At any point in time, the borrowing capacity under the Wells Fargo Line of Credit is based on the lesser of (1) an amount equal to 65% of the aggregate value of the properties in the collateral pool as determined by lender appraisals, (2) an amount that results in a minimum debt yield of 11% based on the in-place net operating income of the collateral pool as defined, or (3) the maximum capacity of the Wells Fargo Line of Credit. Proceeds from the Wells Fargo Line of Credit can be used to fund acquisitions, redeem shares pursuant to the Company's redemption plan and for any other corporate purpose. As of December 31, 2015 , the Company's maximum borrowing capacity was $75,000,000 . The Wells Fargo Line of Credit agreement contains customary representations, warranties, borrowing conditions and affirmative, negative and financial covenants, including that there must be at least five properties in the collateral pool at all times and that the collateral pool must also meet specified concentration provisions, unless waived by the lender. In addition, the Company, as guarantor, must meet tangible net worth hurdles. On March 22, 2016, the Company entered into an amendment to the agreement governing the Wells Fargo Line of Credit which, effective December 31, 2015, revised the tangible net worth definition therein to reflect the Company's properties at the lesser of cost or appraised value as determined by the Company's independent valuation advisor. The Company was in compliance with all covenants as of December 31, 2015 . Impact of the Adoption of ASU 2015-03 On April 7, 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. See Note 2 - Summary of Significant Accounting Policies. Effective January 1, 2015, the Company elected to adopt ASU 2015-03 on a retrospective basis wherein the balance sheets for all periods presented are adjusted to reflect the period-specific effects of applying the new guidance. The adoption of ASU 2015-03 is considered a change in accounting principle wherein the Company's net deferred financing costs, which previously had been presented as an asset in its consolidated balance sheet, is now presented as a direct deduction from the carrying amount of that debt liability and presented in the line item "Line of credit, net of unamortized deferred financing costs." The adoption had no impact on the Company's consolidated statement of operations or debt covenant compliance. The following is a reconciliation of the carrying amount of the of the Wells Fargo Line of Credit as of December 31, 2015 and the Regions Line of Credit as of December 31, 2014 : December 31, 2015 December 31, 2014 Line of credit $ 72,500,000 $ 48,400,000 Deduct: Deferred financing costs, less accumulated amortization (715,544 ) (162,938 ) Line of credit, net of unamortized deferred financing costs $ 71,784,456 $ 48,237,062

RELATED PARTY ARRANGEMENTS

RELATED PARTY ARRANGEMENTS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY ARRANGEMENTS	RELATED PARTY ARRANGEMENTS Advisory Agreement RREEF America is entitled to compensation and reimbursements in connection with the management of the Company's investments in accordance with an advisory agreement between RREEF America and the Company (the "Advisory Agreement"). The Advisory Agreement is for a one -year term and is renewable annually upon the review and approval of the Company's board of directors, including the approval of a majority of the Company's independent directors. The Advisory Agreement has a current expiration date of January 3, 2017. There is no limit to the number of terms for which the Advisory Agreement can be renewed. Fees Under the Advisory Agreement, RREEF America can earn an advisory fee split between two components as described below. 1. The fixed component accrues daily in an amount equal to 1/365th of 1.0% of the Company's NAV for each class of shares for such day; provided, however, that the fixed component was not earned until the date on which the Company's combined NAV for both classes of shares reached $50,000,000 . The fixed component of the advisory fee is payable monthly in arrears. 2. The performance component is calculated for each class of shares on the basis of the total return to stockholders and is measured by the total distributions per share paid to such class plus the change in the NAV per share for such class. For any calendar year in which the total return per share allocable to a class exceeds 6% per annum, RREEF America will receive 25% of the excess total return allocable to that class; provided, however, that in no event will the performance component exceed 10% of the aggregate total return allocable to such class for such year. The performance component earned by RREEF America for each class is subject to certain other adjustments which do not apply unless the NAV per share is below $12.00 per share. The performance component is payable annually in arrears. The fees earned by RREEF America for the years ended December 31, 2015, 2014 and 2013 are shown below. As the Company's combined NAV reached $50,000,000 on January 22, 2015, RREEF America commenced earning the fixed component of the advisory fee as of that date. Prior to that date, no fixed component of the advisory fee was earned by RREEF America. December 31, 2015 December 31, 2014 December 31, 2013 Fixed component $ 607,614 $ — $ — Performance component — — — $ 607,614 $ — $ — RREEF America waived the performance component earned for the years ended December 31, 2015, 2014 and 2013 . Expense Reimbursements Under the Advisory Agreement, RREEF America is entitled to reimbursement of certain costs incurred by RREEF America or its affiliates that are not incurred under the Expense Support Agreement, as discussed below. Costs eligible for reimbursement, if they were not incurred under the Expense Support Agreement, include most third-party operating expenses, salaries and related costs of its employees who perform services for the Company (but not those employees for which RREEF America earns a separate fee or those employees who are executive officers of the Company) and travel related costs for its employees who incur such costs on behalf of the Company. Reimbursement payments to RREEF America are subject to the limitations described below under Reimbursement Limitations. For the years ended December 31, 2015 and 2014 , RREEF America incurred $22,242 and $36,155 reimbursable operating expenses, respectively, that were subject to the terms and conditions of the Advisory Agreement. As of December 31, 2015 and 2014 , the Company had payable to RREEF America zero and $36,155 , respectively, of operating expenses reimbursable under the Advisory Agreement. Organization and Offering costs Under the Advisory Agreement, RREEF America agreed to pay all of the Company’s organization and offering costs incurred through January 3, 2013. In addition, RREEF America agreed to pay certain of the Company’s organization and offering costs from January 3, 2013 through January 3, 2014 that were incurred in connection with certain offering related activities. In total, RREEF America incurred $4,618,318 of these costs (the “Deferred O&O”) on behalf of the Company from the Company’s inception through January 3, 2014. Pursuant to the Advisory Agreement, the Company began reimbursing RREEF America monthly for the Deferred O&O on a straight-line basis over 60 months beginning in January 2014. For the years ended December 31, 2015 and 2014 , the Company reimbursed RREEF America $923,158 and $918,099 , respectively, for Deferred O&O. Expense Support Agreement Pursuant to the terms of the Expense Support Agreement as amended on January 20, 2016, RREEF America agreed to defer reimbursement of certain expenses related to the Company's operations that RREEF America has incurred that are not part of the Deferred O&O described above and, therefore, are in addition to the Deferred O&O amount (the “Expense Payments”). The Expense Payments include organization and offering costs and operating expenses as described above under the Advisory Agreement. RREEF America incurred these expenses until the earlier of (i) the date the Company has raised $200 million in aggregate gross proceeds from the Offering or (ii) the date upon which the aggregate Expense Payments by RREEF America exceed $9,200,000 . Through December 31, 2015 , the Company had raised $77,884,489 in the Offering and had incurred a total of $9,200,000 in Expense Payments in addition to the $4,618,318 of Deferred O&O noted above. Details of the Expense Payments incurred by RREEF America are detailed below. Organization and offering costs Operating expenses Total Balance, December 31, 2014 $ 2,184,676 $ 4,412,055 $ 6,596,731 Additions 1,786,143 (a) 817,126 2,603,269 Reimbursements made to RREEF America — — — Balance, December 31, 2015 $ 3,970,819 $ 5,229,181 $ 9,200,000 (a) Includes $276,113 of prepaid costs. Pursuant to the Expense Support Agreement, RREEF America agreed to defer reimbursement of Expense Payments until the first calendar quarter of the first calendar year that follows the earlier of (i) the date the Company surpasses $200 million in aggregate gross proceeds from the Offering or (ii) the date upon which the aggregate Expense Payments by RREEF America exceed $9,200,000 . Through December 31, 2015 , the Company made no reimbursements to RREEF America under the Expense Support Agreement. As the Company had reached the Expense Payment limit of $9,200,000 as of December 31, 2015 , the Company is not eligible to receive additional Expense Payments from RREEF America. In addition, the Company began making quarterly reimbursement payments to RREEF America in the first quarter of 2016 in the amount of $250,000 , subject to the reimbursement limitations described below. Reimbursement Limitations Organization and Offering costs The Company will not reimburse RREEF America for any organization and offering costs which would cause the Company's total organization and offering costs to exceed 15% of the gross proceeds from the Offering. Further, the Company will not reimburse RREEF America for any underwriting compensation (a subset of organization and offering costs) which would cause the total underwriting compensation to exceed 10% of the gross proceeds from the primary offering (excluding shares issued via the distribution reinvestment plan). As of December 31, 2015 and 2014 , the Company had raised $77.88 million and $45,302,762 , respectively, in gross proceeds from the primary offering. A summary of the Company's total organization and offering costs is shown below. Deferred O&O - RREEF America Expense Payments - O&O Portion Other organization and offering costs Total organization and offering costs Organization and offering costs in excess of the 15% limit 15% limited organization and offering costs Balance, December 31, 2014 $ 4,618,318 $ 2,184,676 $ 1,122,318 $ 7,925,312 $ (1,129,897 ) $ 6,795,415 Additions — 1,786,143 1,476,501 3,262,644 1,129,897 4,392,541 Balance, December 31, 2015 $ 4,618,318 $ 3,970,819 $ 2,598,819 $ 11,187,956 $ — $ 11,187,956 At any time, the amount of the organization and offering costs in excess of the 15% limitation is not reflected in the Company's consolidated financial statements as a liability. However, as the Company raises additional proceeds from the Offering, it may become obligated to RREEF America for all or a portion of this additional amount. For purposes of reimbursement to RREEF America, the amount of organization and offering costs in excess of the 15% limitation is deducted from the Deferred O&O. The amounts of Deferred O&O payable to RREEF America are therefore as follows. December 31, 2015 December 31, 2014 Total Deferred O&O $ 4,618,318 $ 4,618,318 Amount in excess of 15% limitation — (1,129,897 ) Reimbursements made to RREEF America (1,841,257 ) (918,099 ) Deferred O&O reimbursable to RREEF America $ 2,777,061 $ 2,570,322 Operating Expenses Pursuant to the Company’s charter, the Company may reimburse RREEF America, at the end of each fiscal quarter, for total operating expenses incurred by RREEF America, whether under the Expense Support Agreement or otherwise. However, commencing with the quarter ended June 30, 2014, the Company may not reimburse RREEF America at the end of any fiscal quarter for total operating expenses (as defined in the Company’s charter) that, in the four consecutive fiscal quarters then ended, exceed the greater of 2% of average invested assets or 25% of net income determined without reduction for any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of the Company's assets for that period (the “ 2% / 25% Guidelines”). Notwithstanding the foregoing, the Company may reimburse RREEF America for expenses in excess of the 2% / 25% Guidelines if a majority of the Company’s independent directors determines that such excess expenses (an “Excess Amount”) are justified based on unusual and non-recurring factors. For the four fiscal quarters ended December 31, 2015 , total operating expenses of the Company were $2,592,002 , which exceeded the 2% / 25% Guidelines by $499,424 . On March 17, 2016, the Company’s independent directors determined that the Excess Amount of total operating expenses for the four quarters ended December 31, 2015 was justified because (1) the amounts reflect legitimate operating expenses necessary for the operation of the Company’s business, (2) the Company is currently in its acquisition and development stage, (3) the expenses incurred as a result of being a public company (including for audit and legal services, director and officer liability insurance and fees for directors) are significant and disproportionate to the Company’s average invested assets and net income, and (4) the Company’s average invested assets was low due to the Company’s ownership of only 5 - 7 properties during the four fiscal quarters ended December 31, 2015 . The Excess Amount approved by the Company’s independent directors will be eligible for reimbursement in the future pursuant to the terms and conditions of the Expense Support Agreement. Due to Affiliates In accordance with all the above, as of December 31, 2015 and 2014 , the Company owed RREEF America for the following amounts: December 31, 2015 December 31, 2014 Deferred O&O $ 2,777,061 $ 2,570,322 Expense Payments 9,200,000 6,596,731 Reimbursable under the Advisory Agreement — 36,155 Advisory fees 64,671 — Due to affiliates $ 12,041,732 $ 9,203,208

CAPITALIZATION

CAPITALIZATION	12 Months Ended
	Dec. 31, 2015
Capitalization [Abstract]
CAPITALIZATION	CAPITALIZATION Under the Company's charter, through December 31, 2015, the Company had the authority to issue 1,000,000,000 shares of common stock, 500,000,000 of which are classified as Class A shares and 500,000,000 of which are classified as Class B shares. In addition, the Company has the authority to issue 50,000,000 shares of preferred stock. All shares of such stock have a par value of $0.01 per share. Class A shares issued in the primary offering are subject to selling commissions of up to 3% of the purchase price, dealer manager fees and distribution fees. Class B shares are subject to dealer manager fees, but are not subject to any selling commissions or distribution fees. The Company's board of directors is authorized to amend its charter from time to time, without the approval of the stockholders, to increase or decrease the aggregate number of authorized shares of capital stock or the number of shares of any class or series that the Company has authority to issue. The Company's charter was amended after December 31, 2015. See Note 15 - Subsequent Events. On December 23, 2015, the Company filed a registration statement on Form S-11 (File No. 333-208751) registering $2,300,000,000 in shares of its common stock to be sold on a "best efforts" basis in any combination of Class A, Class I, Class T or Class N common stock for the Company's follow-on offering. This registration statement is not yet effective. Distribution Reinvestment Plan The Company has adopted a distribution reinvestment plan that will allow stockholders to have the cash distributions attributable to the class of shares that the stockholder owns automatically invested in additional shares of the same class. Shares are offered pursuant to the Company's distribution reinvestment plan at the NAV per share applicable to that class, calculated as of the distribution date and after giving effect to all distributions. Stockholders who elect to participate in the distribution reinvestment plan, and who are subject to U.S. federal income taxation laws, will incur a tax liability on an amount equal to the fair value on the relevant distribution date of the shares of the Company's common stock purchased with reinvested distributions, even though such stockholders have elected not to receive the distributions used to purchase those shares of the Company's common stock in cash. Redemption Plan In an effort to provide the Company's stockholders with liquidity in respect of their investment in shares of the Company's common stock, the Company has adopted a redemption plan whereby on a daily basis stockholders may request the redemption of all or any portion of their shares. The redemption price per share is equal to the Company's NAV per share of the class of shares being redeemed on the date of redemption. The total amount of redemptions in any calendar quarter will be limited to shares whose aggregate value (based on the redemption price per share on the date of the redemption) is equal to 5% of the Company's combined NAV for all classes of shares as of the last day of the previous calendar quarter. In addition, if redemptions do not reach the 5% limit in a calendar quarter, the unused portion generally will be carried over to the next quarter and not any subsequent quarter, except that the maximum amount of redemptions during any quarter may never exceed 10% of the combined NAV for all classes of shares as of the last day of the previous calendar quarter. If the quarterly volume limitation is reached on or before the third business day of a calendar quarter, redemption requests during the next quarter will be satisfied on a stockholder by stockholder basis, which the Company refers to as a per stockholder allocation, instead of a first-come, first-served basis. Pursuant to the per stockholder allocation, each stockholder would be allowed to request redemption at any time during such quarter of a total number of shares not to exceed 5% of the shares of common stock the stockholder held as of the end of the prior quarter. The per stockholder allocation requirement will remain in effect for each succeeding quarter for which the total redemptions for the immediately preceding quarter exceeded 4% of the Company's NAV on the last business day of such preceding quarter. If total redemptions during a quarter for which the per stockholder allocation applies are equal to or less than 4% of the Company's NAV on the last business day of such preceding quarter, then redemptions will again be satisfied on a first-come, first-served basis for the next succeeding quarter and each quarter thereafter. Each redemption request will be evaluated by the Company in consideration of rules and regulations promulgated by the Internal Revenue Service with respect to dividend equivalent redemptions. Redemptions that may be considered dividend equivalent redemptions may adversely affect the Company or its stockholders. Accordingly, the Company may reject any redemption request that it reasonably believes may be treated as a dividend equivalent redemption. While there is no minimum holding period, shares redeemed within 365 days of the date of purchase will be redeemed at the Company's NAV per share of the class of shares being redeemed on the date of redemption less a short-term trading discount equal to 2% of the gross proceeds otherwise payable with respect to the redemption. In the event that any stockholder fails to maintain a minimum balance of $500 of shares of common stock, the Company may redeem all of the shares held by that stockholder at the redemption price per share in effect on the date it is determined that the stockholder has failed to meet the minimum balance, less the short-term trading discount of 2% , if applicable. Minimum account redemptions will apply even in the event that the failure to meet the minimum balance is caused solely by a decline in the Company's NAV. During the years ended December 31, 2015 and 2014 redemption requests were received as shown below. The Company funded these redemptions with cash flow from operations and borrowings on the Wells Fargo Line of Credit. The weighted average redemption prices are shown before allowing for any applicable 2% short-term trading discounts. Class A Class B Shares Weighted Average Share Price Amount Shares Weighted Average Share Price Amount Total for year ended December 31, 2015 73,780 $ 12.71 $ 937,876 274,878 $ 12.78 $ 3,513,911 Total for year ended December 31, 2014 10,008 12.23 122,388 60,391 12.67 765,272 The Company's board of directors has the discretion to suspend or modify the redemption plan at any time, including in circumstances where it (1) determines that such action is in the best interest of the Company's stockholders, (2) determines that it is necessary due to regulatory changes or changes in law or (3) becomes aware of undisclosed material information that it believes should be publicly disclosed before shares are redeemed. In addition, the Company's board of directors may suspend the Offering, including the redemption plan, if it determines that the calculation of NAV is materially incorrect or there is a condition that restricts the valuation of a material portion of the Company's assets. If the board of directors materially amends (including any reduction of the quarterly limit) or suspends the redemption plan during any quarter, other than any temporary suspension to address certain external events unrelated to the Company's business, any unused portion of that quarter’s 5% limit will not be carried forward to the next quarter or any subsequent quarter.

DISTRIBUTIONS

DISTRIBUTIONS	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS In order to qualify as a REIT, the Company is required, among other things, to make distributions each taxable year of at least 90% of its taxable income determined without regard to the dividends-paid deduction and excluding net capital gains, and to meet certain tests regarding the nature of the Company's income and assets. The Company expects that its board of directors will continue to declare distributions with a daily record date, payable monthly in arrears. Any distributions the Company makes will be at the discretion of its board of directors, considering factors such as its earnings, cash flow, capital needs and general financial condition and the requirements of Maryland law. The Company commenced operations on May 30, 2013 and elected taxation as a REIT for the year ended December 31, 2013 . Distributions for each month are payable on or before the first day of the following month. However, any distributions reinvested by the stockholders in accordance with the Company's dividend reinvestment plan are reinvested at the per share NAV of the same class determined at the close of business on the last business day of the month in which the distributions were accrued. Shown below are details of the Company's distributions for 2015, 2014 and 2013 . Three Months Ended Total March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00175668 $ 0.00176456 $ 0.00173533 $ 0.00173613 Distributions paid or payable in cash $ 294,197 $ 455,114 $ 524,375 $ 559,898 $ 1,833,584 Distributions reinvested 358,056 310,384 311,644 362,491 1,342,575 Distributions declared $ 652,253 $ 765,498 $ 836,019 $ 922,389 $ 3,176,159 Class A shares issued upon reinvestment 11,126 13,684 15,386 16,598 56,794 Class B shares issued upon reinvestment 16,669 10,679 9,204 11,551 48,103 Three Months Ended Total March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Declared daily distribution rate, before adjustment for class-specific expenses $0.00167167 $ 0.00169307 $ 0.00169924 $ 0.00173473 Distributions paid or payable in cash $ 130,908 $ 154,435 $ 200,365 $ 248,896 $ 734,604 Distributions reinvested 217,739 242,092 278,194 309,211 1,047,236 Distributions declared $ 348,647 $ 396,527 $ 478,559 $ 558,107 $ 1,781,840 Class A shares issued upon reinvestment 5,162 6,244 8,109 9,145 28,660 Class B shares issued upon reinvestment 12,505 13,296 14,125 15,022 54,948 Three Months Ended Total March 31, 2013 June 30, 2013 September 30, 2013 December 31, 2013 Declared daily distribution rate, before adjustment for class-specific expenses $ — $ 0.00164384 $ 0.00164384 $ 0.00166682 Distributions paid or payable in cash $ — $ — $ 31,262 $ 102,611 $ 133,873 Distributions reinvested — 41,945 131,832 165,353 339,130 Distributions declared $ — $ 41,945 $ 163,094 $ 267,964 $ 473,003 Class A shares issued upon reinvestment N/A — 19 1,715 1,734 Class B shares issued upon reinvestment N/A 3,469 10,829 11,806 26,104

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company elected taxation as a REIT for federal income tax purposes for the year ended December 31, 2013. In each calendar year that the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal income tax to the extent it meets certain criteria and distributes its REIT taxable income to its stockholders. Distributions declared and paid by the Company may consist of ordinary income, qualifying dividends, return of capital, capital gains or a combination thereof. The characterization of the distributions into these various components will impact how the distributions are taxable to the stockholder who received them. Distributions to the extent of our current and accumulated earnings and profits for federal income tax purposes are taxable to the recipient as either ordinary dividend income or capital gain distributions. Distributions in excess of these earnings and profits (calculated for income tax purposes) constitute a non-taxable return of capital rather than ordinary dividend income or a capital gain distribution and reduce the recipient’s basis in the shares to the extent thereof. Distributions in excess of earnings and profits that reduce a recipient’s basis in the shares have the effect of deferring taxation of the amount of the distribution until the sale of the stockholder’s shares. If the recipient's basis is reduced to zero, distributions in excess of the aforementioned earnings and profits (calculated for income tax purposes) constitute taxable gain. The characterization of the distributions is generally determined during the month of January following the close of the tax year, and is as follows for the years ended December 31, 2015, 2014 and 2013 : Characterization Box number Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Ordinary income 1a 20.6151 % 4.2962 % — % Capital gain distribution 2a 0.4423 0.3375 — Nondividend distributions (return of capital) 3 78.9426 95.3663 100.0000 Total 100.0000 % 100.0000 % 100.0000 % Income and similar taxes paid to certain states where the Company owns real estate properties were $28,549 , $5,850 and $500 for the years ended December 31, 2015, 2014 and 2013 , respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION For the years ended December 31, 2015, 2014 and 2013 , the Company had two segments with reportable information: Real Estate Properties and Real Estate Equity Securities. The Company organizes and analyzes the operations and results of each of these segments independently, due to inherently different considerations for each segment. Such considerations include, but are not limited to, the nature and characteristics of the investment, and investment strategies and objectives. The following tables set forth the carrying value, revenue and the components of operating income of the Company's segments reconciled to total assets as of December 31, 2015 and 2014 and net loss for the years ended December 31, 2015, 2014 and 2013. Real Estate Properties Real Estate Equity Securities Total Carrying value as of December 31, 2015 $ 135,305,346 $ 8,569,004 $ 143,874,350 Reconciliation to total assets of December 31, 2015 Carrying value per reportable segments $ 143,874,350 Corporate level assets 4,191,923 Total assets $ 148,066,273 Carrying value as of December 31, 2014 $ 91,429,128 $ 6,400,611 $ 97,829,739 Reconciliation to total assets of December 31, 2014 Carrying value per reportable segments $ 97,829,739 Corporate level assets 2,840,501 Total assets $ 100,670,240 Real Estate Properties Real Estate Equity Securities Total Year Ended December 31, 2015 Revenues Rental and other property income $ 8,050,514 $ — $ 8,050,514 Tenant reimbursement income 1,066,073 — 1,066,073 Investment income on marketable securities — 284,627 284,627 Total revenues 9,116,587 284,627 9,401,214 Operating expenses Property operating expenses 2,118,849 — 2,118,849 Total segment operating expenses 2,118,849 — 2,118,849 Operating income - Segments $ 6,997,738 $ 284,627 $ 7,282,365 Year Ended December 31, 2014 Revenues Rental and other property income $ 4,591,711 $ — $ 4,591,711 Tenant reimbursement income 593,845 — 593,845 Investment income on marketable securities — 133,208 133,208 Total revenues 5,185,556 133,208 5,318,764 Operating expenses Property operating expenses 1,007,235 — 1,007,235 Total segment operating expenses 1,007,235 — 1,007,235 Operating income - Segments $ 4,178,321 $ 81,316 $ 4,311,529 Year Ended December 31, 2013 Revenues Rental and other property income $ 761,684 $ — $ 761,684 Tenant reimbursement income 14,705 — 14,705 Investment income on marketable securities — 81,316 81,316 Total revenues 776,389 81,316 857,705 Operating expenses Property operating expenses 35,872 — 35,872 Total segment operating expenses 35,872 — 35,872 Operating income - Segments $ 740,517 $ 81,316 $ 821,833 Year Ended December 31, Reconciliation to net loss 2015 2014 2013 Operating income - Segments $ 7,282,365 $ 4,311,529 $ 821,833 General and administrative expenses (2,012,137 ) (2,232,336 ) (1,653,358 ) Advisory expenses (607,614 ) — — Acquisition related expenses (603,539 ) (333,554 ) (137,484 ) Depreciation (2,233,667 ) (1,097,034 ) (192,616 ) Amortization (2,735,138 ) (1,461,422 ) (409,194 ) Operating loss (909,730 ) (812,817 ) (1,570,819 ) Interest expense (1,330,601 ) (1,078,124 ) (324,560 ) Net realized gain upon sale of marketable securities 12,635 91,837 (85,824 ) Net loss $ (2,227,696 ) $ (1,799,104 ) $ (1,981,203 )

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	12 Months Ended
	Dec. 31, 2015
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY The Company depends on RREEF America and the Dealer Manager for certain services that are essential to the Company, including the sale of the Company's shares of common stock, asset acquisition and disposition decisions and other general and administrative responsibilities. In the event that RREEF America or the Dealer Manager is unable to provide such services, the Company would be required to find alternative service providers.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the normal course of business, from time to time, the Company may be involved in legal actions relating to the ownership and operations of real estate investments. In the Company's opinion, the liabilities, if any, that may ultimately result from such legal actions are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations or liquidity. The Company, as an owner of real estate, is subject to various environmental laws of federal and local governments. All of the Company's properties were subject to assessments, involving visual inspections of the properties and their neighborhoods. The Company carries environmental liability insurance on its properties that provides coverage for remediation liability and pollution liability for third-party bodily injury and property damage claims. The Company does not believe such environmental assessments will have a material adverse impact on the Company's consolidated financial position or results of operations in the future.

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2015, 2014 and 2013 . As the Company commenced operations on May 30, 2013, there are no results of operations for the three months ended March 31, 2013. For the Quarter Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues from real estate investments $ 2,050,233 $ 2,053,027 $ 2,109,836 $ 2,903,491 Investment income on marketable securities 47,045 59,747 68,310 109,525 Total revenues 2,097,278 2,112,774 2,178,146 3,013,016 Operating expenses (2,227,469 ) (1,985,045 ) (2,493,627 ) (3,604,803 ) Interest expense (462,448 ) (258,315 ) (249,343 ) (360,495 ) Net realized gain (loss) upon sale of marketable securities 179,304 (83,104 ) (71,771 ) (11,794 ) Net loss $ (413,335 ) $ (213,690 ) $ (636,595 ) $ (964,076 ) Weighted average number of common shares outstanding: 4,134,878 4,771,626 5,251,033 5,780,744 Net loss per common share: $ (0.10 ) $ (0.04 ) $ (0.12 ) $ (0.17 ) For the Quarter Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues from real estate investments $ 594,467 $ 952,394 $ 1,555,194 $ 2,083,501 Investment income on marketable securities 25,521 26,715 29,616 51,356 Total revenues 619,988 979,109 1,584,810 2,134,857 Operating expenses (1,052,850 ) (1,370,943 ) (1,863,350 ) (1,844,438 ) Interest expense (128,088 ) (220,538 ) (310,450 ) (419,048 ) Net realized gain (loss) upon sale of marketable securities (26,567 ) 36,165 29,182 53,057 Net loss $ (587,517 ) $ (576,207 ) $ (559,808 ) $ (75,572 ) Weighted average number of common shares outstanding: 2,320,089 2,577,389 3,068,502 3,499,520 Net loss per common share: $ (0.25 ) $ (0.22 ) $ (0.18 ) $ (0.02 ) For the Quarter Ended June 30, 2013 September 30, 2013 December 31, 2013 Revenues from real estate investments $ 107,494 $ 313,307 $ 355,588 Investment income on marketable securities 19,990 29,299 32,027 Total revenues 127,484 342,606 387,615 Operating expenses (704,342 ) (796,012 ) (928,169 ) Interest expense (73,098 ) (138,375 ) (113,087 ) Net realized gain (loss) upon sale of marketable securities (29,753 ) 4,678 (60,749 ) Net loss $ (679,709 ) $ (587,103 ) $ (714,390 ) Weighted average number of common shares outstanding: 310,026 1,095,953 1,755,768 Net loss per common share: $ (2.19 ) $ (0.54 ) $ (0.41 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 5, 2016 , the Company announced that its board of directors declared a cash distribution equal to $0.00179534 per Class A and Class B share (before adjustment for applicable class-specific expenses) for all such shares of record on each day from January 1, 2016 through March 31, 2016 . On January 20, 2016 , the Company commenced a private offering of up to a maximum of $350,000,000 in shares of the Company’s newly-designated Class D common stock, $0.01 par value per share (“Class D shares”). On January 27, 2016 , the Company amended its articles of incorporation to (a) change the name of its Class B shares to Class I shares, (b) add a newly-designated Class T common stock, $0.01 par value per share ("Class T shares") and (c) add a newly-designated Class N common stock, $0.01 par value per share ("Class N shares"). The Company also changed the NASDAQ Mutual Fund Quotation System symbol for its Class B shares from ZRPTBX to ZRPTIX, and obtained a NASDAQ Mutual Fund Quotation System symbol for its Class T shares of ZRPTTX. Class T shares contain a conversion feature whereby upon the occurrence of a specified event (generally related to a Class T shareholder's account having incurred a maximum of 10% of underwriting compensation), Class T shares owned in a shareholder's Class T account will automatically convert to Class N shares. As a result of these changes, the Company is authorized to issue shares up to the following amounts for each class: Common Stock No. of Authorized Shares Class A shares 200,000,000 Class D shares 50,000,000 Class I shares 200,000,000 Class N shares 300,000,000 Class T shares 250,000,000 1,000,000,000 On March 1, 2016 , RPT Flats at Carrs Hill, LLC, a wholly-owned subsidiary of the Operating Partnership, closed a loan with Nationwide Bank (the "Nationwide Loan"). Proceeds of $14,500,000 obtained from the Nationwide Loan were used to repay outstanding balances under the Wells Fargo Line of Credit, thereby releasing The Flats at Carrs Hill from the Wells Fargo Line of Credit. The Nationwide Loan has a term of ten years, carries a fixed interest rate of 3.63% and requires monthly interest-only payments. Subsequent to December 31, 2015 , the Company received and processed redemption requests for approximately 457,246 Class A shares totaling $5,885,610 and 20,630 Class B shares totaling $269,604 , respectively, before allowing for the 2% short-term trading discount. The Company funded these redemptions with cash flow from operations and from borrowings.

SCHEDULE III Real Estate and Ac

SCHEDULE III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III Real Estate and Accumulated Depreciation	RREEF PROPERTY TRUST, INC. SCHEDULE III Real Estate and Accumulated Depreciation December 31, 2015 Initial cost (A) Gross amount at which carried at December 31, 2015 (B) Property Name Encumbrance (E) Land Buildings & Improvements (F) Capitalized Cost Subsequent to Acquisition Land, Buildings & Improvements Total (C) Accumulated Depreciation (D) Date Constructed Date Acquired Depreciable Lives 9022 Heritage Parkway, Woodridge, IL, Office $ 7,138,364 $ 2,310,684 $ 10,989,316 $ — $ 13,300,000 $ (2,550,110 ) 2002 5/31/2013 5 - 40 Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail) 6,831,333 3,713,306 9,014,642 — 12,727,948 (713,776 ) 1916 12/18/2013 5 - 40 Commerce Center, Logan Township, NJ, Industrial 10,600,202 3,396,680 16,353,320 — 19,750,000 (1,080,453 ) 1998 4/11/2014 5 - 40 Anaheim Hills Office Plaza, Anaheim, CA, Office 9,929,303 6,519,531 11,980,469 — 18,500,000 (1,712,846 ) 2008 7/2/2014 5 - 40 Terra Nova Plaza, Chula Vista, CA, Retail 11,727,312 10,628,293 11,221,707 — 21,850,000 (598,512 ) 1986 10/2/2014 5 - 40 The Flats at Carrs Hill, Athens, GA, Multifamily - Student Housing 14,492,502 3,143,752 23,856,248 4,177 27,004,177 (912,064 ) 2013 9/30/2015 5 - 27.5 Loudoun Gateway I, Sterling, VA, Office 11,780,984 2,042,441 19,907,559 — 21,950,000 (67,967 ) 1998 12/21/2015 5 - 40 Total Investments in Real Estate $ 72,500,000 $ 31,754,687 $ 103,323,261 $ 4,177 $ 135,082,125 $ (7,635,728 ) (A) The initial cost to the Company represents the original purchase price of the property. (B) The aggregate cost of real estate owned at December 31, 2015 for federal income tax purposes was approximately $136,069,000 (unaudited). (C) Reconciliation of real estate owned for the years ended December 31: 2015 2014 2013 Balance at January 1 $ 86,127,948 $ 26,027,948 Acquisitions 48,950,000 60,100,000 26,027,948 Additions 4,177 — — Balance at December 31 $ 135,082,125 $ 86,127,948 $ 26,027,948 (D) Reconciliation of accumulated depreciation for the years ended December 31: 2015 2014 2013 Balance at January 1 $ 3,039,314 $ 600,764 Depreciation and amortization expense 4,596,414 2,438,550 600,764 Balance at December 31 $ 7,635,728 $ 3,039,314 $ 600,764 (E) Encumbrance of $72,500,000 is from the line of credit that is secured by all the properties listed above. (F) Includes gross intangible lease assets of $27,931,688 and gross intangible lease liabilities of $8,528,538 .

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), the authoritative reference for U.S. generally accepted accounting principles (“GAAP”). There have been no significant changes to the Company's significant accounting policies during the year ended December 31, 2015 .
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts. There are no restrictions on the use of the Company’s cash balance.
Real Estate Investments and Lease Intangibles	Real Estate Investments and Lease Intangibles Real estate investments are stated at cost less accumulated depreciation and amortization. Buildings and improvements are depreciated utilizing the straight-line method over an estimated useful life of 20 to 40 years for industrial, retail and office properties, and 27.5 years for residential. Tenant improvements and lease commissions are amortized over the terms of the respective tenant leases. Furniture and equipment is depreciated over an estimated useful life ranging from 5 to 7 years. Costs related to the acquisition of properties, as well as ongoing, ordinary repair and maintenance costs, are expensed as incurred. In accordance with FASB ASC 805, Business Combinations, and FASB ASC 350, Intangibles—Goodwill and Other, acquisitions of properties are accounted for utilizing the acquisition method and, accordingly, the results of operations of acquired properties will be included in the Company’s results of operations from their respective dates of acquisition. Estimates of future cash flows and other valuation techniques believed to be similar to those used by independent appraisers are used to allocate the purchase price of identifiable assets acquired and liabilities assumed such as land, buildings and improvements, equipment and identifiable intangible assets and liabilities such as amounts related to in-place leases, acquired above- and below-market leases, tenant relationships, asset retirement obligations and mortgage notes payable. Values of buildings and improvements are determined on an as-if-vacant basis. Initial allocations are subject to change until such information is finalized, which may be no later than 12 months from the acquisition date. The estimated fair value of acquired in-place leases are the costs the Company would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include the fair value of leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, the Company evaluates the time period over which such occupancy levels would be achieved. Such evaluation will include an estimate of the net market-based rental revenues and net operating costs (primarily consisting of forgone rents, real estate taxes, recoverable charges and insurance) that would be incurred during the lease-up period, which generally ranges up to one year. Acquired in-place leases as of the date of acquisition are amortized over the remaining lease terms into amortization expense. Acquired above- and below-market lease values are estimated based on the present value (using an interest rate that reflects the risks associated with the lease acquired) of the difference between the contractual amounts to be paid pursuant to the in-place leases and the Company’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized to rental revenue over the remaining terms of the respective leases, which include, for below-market leases, periods covered by bargain fixed-rate renewal options if, at the time of acquisition, the exercise of such renewal options are determined to be reasonably assured. If a lease is terminated prior to its scheduled expiration, the unamortized portion of the in-place lease is charged to amortization expense and the unamortized portion of the above- or below-market lease is charged to rental revenue. The carrying value of the real estate investments are reviewed to ascertain if there are any indicators of impairment. Factors considered include the type of asset, the economic situation in the area in which the asset is located, the economic situation in the industry in which a tenant is involved and the timeliness of the payments made by a tenant under its lease, as well as any current correspondence that may have been had with a tenant, including property inspection reports. A real estate investment is impaired if the undiscounted cash flows over the expected hold period are less than the real estate investment’s carrying amount. In this case, an impairment loss will be recorded to the extent that the estimated fair value is lower than the real estate investment’s carrying amount. The estimated fair value is determined primarily using information contained within independent appraisals obtained quarterly by the Company from its independent valuation agent. Real estate investments that are expected to be disposed of are valued at the lower of carrying amount or estimated fair value less costs to sell. As of December 31, 2015 and 2014, none of the Company's real estate investments were impaired.
Investments in Marketable Securities	Investments in Marketable Securities In accordance with the Company’s investment guidelines as approved by the Company’s board of directors, investments in marketable securities may consist of common and preferred stock of publicly-traded REITs and other real estate operating companies. The Company determines the appropriate classification for these securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of December 31, 2015 and 2014, the Company classified its investments in marketable securities as available-for-sale as the Company intends to hold the securities for the purpose of collecting dividend income and for longer term price appreciation. These investments are carried at their estimated fair value based on published prices for each security. Unrealized gains and losses are reported in accumulated other comprehensive income (loss). Any non-temporary decline in the market value of an available-for-sale security below cost results in a reduction in the carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. When a security is impaired, the Company considers whether it has the ability and intent to hold the investment for a time sufficient to allow for any anticipated recovery in market value and considers whether evidence indicating the cost of the investment being recoverable outweighs evidence to the contrary. Evidence considered in this assessment includes the reasons for the impairment, the severity and duration of the impairment, changes in value subsequent to period end and forecasted performance of the investee. Securities may be sold if the Company believes a security has attained its target maximum value or if other conditions exist whereby the Company believes that the value of its investment in a particular security has a larger than desired risk of declining. The Company considers many factors in determining whether to hold or sell a security, including, but not limited to, recent events specific to the issuer or industry, external credit ratings and recent changes in such ratings. Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares with the highest cost are sold first.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs are the direct costs associated with obtaining financing. Such costs include commitment fees, legal fees and other third-party costs associated with obtaining commitments for financing that result in a closing of such financing. The Company capitalizes these costs and amortizes them on a straight-line basis, which approximates the effective interest method, over the terms of the obligations, once the loan process is completed. Amortization of deferred financing costs is included in interest expense in the consolidated statements of operations.
Borrowings	Borrowings The Company may obtain various forms of borrowings from market participants. Generally, borrowings originated by the Company will be recorded at amortized cost. The Company may also assume borrowings in connection with acquisitions. The Company will estimate the fair value of assumed borrowings based upon indications of then-current market pricing for similar types of debt with similar maturities. The assumed borrowings will initially be recorded at their estimated fair value as of the assumption date, with the difference between such estimated fair value and the borrowings’ outstanding principal balance being amortized over the remaining life of the borrowing.
Revenue Recognition	Revenue Recognition Rental revenue from real estate investments is recognized on a straight-line basis over the terms of the related leases. The differences between rental revenue earned from real estate investments and amounts due under the respective lease agreements are amortized or accreted, as applicable, to deferred rent receivable. Rental revenue will also include amortization of above- and below-market leases. Revenues relating to lease termination fees will be recognized at the time that a tenant’s right to occupy the leased space is terminated and collectability is reasonably assured. Also included in rental revenue are tenant reimbursements of certain operating expenses and percentage rents determined in accordance with the terms of the lease agreements. Investment income from marketable securities is accrued at the time the income becomes payable to the Company.
Organization and Offering Expenses	Organization and Offering Expenses Organizational expenses and other expenses which do not qualify as offering costs are expensed as incurred from and after the commencement of operations. Offering costs are those costs incurred by the Company, RREEF America and its affiliates on behalf of the Company which relate directly to the Company’s activities of raising capital in the Offering, preparing for the Offering, the qualification and registration of the Offering, and the marketing and distribution of the Company’s shares. This includes, but is not limited to, accounting and legal fees, including the legal fees of SC Distributors, LLC, the dealer manager for the Offering (the “Dealer Manager”), costs for registration statement amendments and prospectus supplements, printing, mailing and distribution costs, filing fees, amounts to reimburse RREEF America as the Company’s advisor or its affiliates for the salaries of employees and other costs in connection with preparing supplemental sales literature, amounts to reimburse the Dealer Manager for amounts that it may pay to reimburse the bona fide due diligence expenses of any participating broker-dealers supported by detailed and itemized invoices, telecommunication costs, fees of the transfer agent, registrars, trustees, depositories and experts, the cost of educational conferences held by the Company (including the travel, meal and lodging costs of registered representatives of any participating broker-dealers), and attendance fees and cost reimbursement for employees of affiliates to attend retail seminars conducted by broker-dealers. Offering costs will be deferred and will be paid from the proceeds of the Offering. These costs will be treated as a reduction of the total proceeds. Total organization and offering costs incurred by the Company will not exceed 15% of the gross proceeds from the Offering. The Company pays ongoing fees to the Dealer Manager with respect to its Class A and Class B shares, including (1) a dealer manager fee equal to 0.55% per annum of the net asset value of such shares outstanding, provided that the Company does not pay a dealer manager fee on the net asset value of the shares held by RREEF America, and (2) a distribution fee of 0.50% per annum of the net asset value of the Company's Class A shares outstanding. The ongoing fees are compensation to the Dealer Manager for providing to the Company ongoing support in connection with the distribution of such shares, including, but not limited, to assistance with broker-dealer due diligence efforts, providing education and training to broker-dealer representatives and attendance at broker-dealer sponsored events on behalf of the Company. The ongoing fees are earned and accrued daily and are not payable until each day has passed. The Company accounts for the ongoing fees as offering costs. The total amount of ongoing fees payable to the Dealer Manager is dependent upon, among other factors, (a) shares remaining outstanding, (b) shares remaining under the relationship of a broker-dealer who is registered to sell the Company's shares, and (c) the Company's total organization and offering costs being subject to a limit of 15% of the gross proceeds from the Offering. The Company also pays fees to the Dealer Manager with respect to its Class T shares and to the distribution agents for its Class D shares. Such fees are not reflected in these consolidated financial statements because the Company did not offer those classes of shares as of December 31, 2015.
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), beginning with the year ended December 31, 2013. In order to maintain the Company’s qualification as a REIT, the Company is required to, among other things, distribute as dividends at least 90% of the Company’s REIT taxable income, determined without regard to the dividends-paid deduction and excluding net capital gains, to the Company’s stockholders, and meet certain tests regarding the nature of the Company’s income and assets. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal income tax to the extent it meets certain criteria and distributes its REIT taxable income to its stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to (1) certain state and local taxes on its income, property or net worth, and (2) federal income and excise taxes on its undistributed income, if any income remains undistributed. The Company intends to operate in a manner that allows the Company to meet the requirements for taxation as a REIT, including creating taxable REIT subsidiaries to hold assets that generate income that would not be consistent with the rules applicable to qualification as a REIT if held directly by the REIT. If the Company were to fail to meet these requirements, it could be subject to federal income tax on the Company’s taxable income at regular corporate rates. The Company would not be able to deduct distributions paid to stockholders in any year in which it fails to qualify as a REIT. The Company will also be disqualified for the four taxable years following the year during which qualification was lost unless the Company is entitled to relief under specific statutory provisions.
Reportable Segments	Reportable Segments The Company intends to operate in three primary segments: (1) Real Estate Properties, (2) Real Estate Equity Securities, and (3) Real Estate Loans.
Concentration of Credit Risk	Concentration of Credit Risk As of December 31, 2015 , 2014 and 2013, the Company had cash on deposit at multiple financial institutions which were in excess of federally insured levels. The Company limits significant cash holdings to accounts held by financial institutions with a high credit standing. Therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. As of December 31, 2015 , the Company owned six commercial properties with fourteen tenants and one student housing property with 316 beds. As of December 31, 2014 , the Company owned five commercial properties housing thirteen tenants. As of December 31, 2013, the Company owned two commercial properties housing six tenants. Percentages of gross rental revenues by location and tenant representing more than 10% of the Company's total gross rental revenues (rental and other property income and tenant reimbursement income) for the years ended December 31, 2015, 2014 and 2013 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Terra Nova Plaza, Chula Vista, CA 24.5 % 10.7 % — % Anaheim Hills Office Plaza, Anaheim, CA 22.2 19.7 — Commerce Corner, Logan Township, NJ 19.1 23.6 — Heritage Parkway, Woodridge, IL 13.7 24.1 94.6 Wallingford Plaza, Seattle, WA 11.9 21.9 5.4 Total 91.4 % 100.0 % 100.0 % Percent of actual gross rental revenues Tenant - Property Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 15.2 % 13.3 % — % Allstate Insurance Company - Heritage Parkway 13.7 24.1 94.6 The Sports Authority, Inc. - Terra Nova Plaza 12.4 5.4 — Bed Bath & Beyond, Inc. - Terra Nova Plaza 12.2 5.3 — Performance Food Group, Inc. - Commerce Corner 11.6 14.3 — Walgreen Company - Wallingford Plaza 6.3 11.3 2.9 Total 71.4 % 73.7 % 97.5 % The Company's tenants representing more than 10% of in-place annualized base rental revenues as of December 31, 2015, 2014 and 2013 were as follows: Percent of in-place annualized base rental revenues as of Tenant - Property December 31, 2015 December 31, 2014 December 31, 2013 Orbital ATK Inc. - Loudoun Gateway 21.6 % — % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 11.0 18.9 — Allstate Insurance Company - Heritage Parkway 10.4 18.7 58.0 Performance Food Group, Inc. - Commerce Corner — 12.5 — The Sports Authority, Inc. - Terra Nova Plaza — 11.8 — Walgreen Company - Wallingford Plaza — — 24.7 Total 43.0 % 61.9 % 82.7 %
Recent Accounting Pronouncements	Recent Accounting Pronouncements On May 28, 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, Revenue From Contracts With Customers. ASU 2014-09 requires entities to recognize revenue in their financial statements in a manner that depicts the transfer of the promised goods or services to its customers in an amount that reflects the consideration to which the entity is entitled at the time of transfer of those goods or services. As a result, the amount and timing of revenue recognition may be affected. However, certain types of contracts are excluded from the provisions of ASU 2014-09, including leases. Presently, the Company's rental and other property income and tenant reimbursement income as reflected on the Company's consolidated statements of operations are the result of lease contracts and as such, are not within the scope of ASU 2014-09. However, other types of real estate related contracts, such as for dispositions or development of real estate, may be impacted by ASU 2014-09. In addition, ASU 2014-09 requires additional disclosures regarding revenue recognition. ASU 2014-09 was originally scheduled to become effective for the Company beginning January 1, 2017. However, on August 12, 2015, the FASB issued ASU 2015-14 which delayed the effective date of ASU 2014-09 by one year. As such, ASU 2014-09 would become effective on January 1, 2018 for the Company for both its interim and annual reporting periods. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company has not yet evaluated the impact of ASU 2014-09 on its consolidated financial statements. On August 27, 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. ASU 2014-15 provides guidance on determining when and how to disclose going concern uncertainties in an entity's financial statements. The new standard requires management to perform interim and annual assessments of the likelihood the entity will be unable to meet its obligations as they come due for a period of one year beyond the date the financial statements are issued. An entity must provide certain disclosures if there is substantial doubt about the entity’s ability to meet those obligations. The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company has not yet evaluated the impact of ASU 2014-15 on its consolidated financial statements. On April 7, 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30)— Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03. For public business entities, ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of ASU 2015-03 is permitted. Effective January 1, 2015, the Company elected to adopt ASU 2015-03 on a retrospective basis wherein the balance sheets for all periods presented are adjusted to reflect the period-specific effects of applying the new guidance. See Note 6 - Line of Credit. On April 15, 2015, the FASB issued ASU 2015-05, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. ASU 2015-05 clarifies the circumstances under which a cloud computing customer would account for the arrangement as a license of internal-use software under ASC 350-40. It requires the Company to determine whether a cloud computing arrangement contains a software license. If the arrangement contains a software license, the accounting for the fees related to the software license element would be in a manner consistent with how the acquisition of other software licenses are accounted for under ASC 350-40. If the arrangement does not contain a software license, the accounting for the arrangement would be as a service contract. ASU 2015-05 is effective for the Company for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted for all entities. Through December 31, 2015, the Company has accounted for its cloud computing arrangements as service contracts. The Company does not expect any impact upon the adoption of ASU 2015-05 on its consolidated financial statements. On September 25, 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805) - Simplifying the Accounting for Measurement Period Adjustments. ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined. ASU 2015-16 requires an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current period earnings by line item that would have been recorded in the previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 is effective for the Company for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The Company does not expect any impact upon the adoption of ASU 2015-16 on its consolidated financial statements. On January 5, 2016, the FASB issued ASU 2016-01, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 amends the guidance on the classification and measurement of financial instruments. Although ASU 2016-01 retains many current requirements, it significantly revises an entity’s accounting related to investments in equity securities, excluding those accounted for under the equity method of accounting or those that result in consolidation of the investee. The guidance also amends certain disclosure requirements associated with the fair value of financial instruments. ASU 2016-01 is effective on January 1, 2018 for the Company for both its interim and annual reporting periods.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedules of Concentration of Credit Risk	Percentages of gross rental revenues by location and tenant representing more than 10% of the Company's total gross rental revenues (rental and other property income and tenant reimbursement income) for the years ended December 31, 2015, 2014 and 2013 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Terra Nova Plaza, Chula Vista, CA 24.5 % 10.7 % — % Anaheim Hills Office Plaza, Anaheim, CA 22.2 19.7 — Commerce Corner, Logan Township, NJ 19.1 23.6 — Heritage Parkway, Woodridge, IL 13.7 24.1 94.6 Wallingford Plaza, Seattle, WA 11.9 21.9 5.4 Total 91.4 % 100.0 % 100.0 % Percent of actual gross rental revenues Tenant - Property Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 15.2 % 13.3 % — % Allstate Insurance Company - Heritage Parkway 13.7 24.1 94.6 The Sports Authority, Inc. - Terra Nova Plaza 12.4 5.4 — Bed Bath & Beyond, Inc. - Terra Nova Plaza 12.2 5.3 — Performance Food Group, Inc. - Commerce Corner 11.6 14.3 — Walgreen Company - Wallingford Plaza 6.3 11.3 2.9 Total 71.4 % 73.7 % 97.5 % Percent of in-place annualized base rental revenues as of Tenant - Property December 31, 2015 December 31, 2014 December 31, 2013 Orbital ATK Inc. - Loudoun Gateway 21.6 % — % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 11.0 18.9 — Allstate Insurance Company - Heritage Parkway 10.4 18.7 58.0 Performance Food Group, Inc. - Commerce Corner — 12.5 — The Sports Authority, Inc. - Terra Nova Plaza — 11.8 — Walgreen Company - Wallingford Plaza — — 24.7 Total 43.0 % 61.9 % 82.7 %

REAL ESTATE INVESTMENTS (Tables

REAL ESTATE INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Schedule of Real Estate Acquired, Purchase Price Allocation	The Company allocated the purchase price of the Company's properties to the fair value of the major components of the assets acquired and liabilities assumed, using Level 3 inputs and assumptions, as follows: Loudoun Gateway The Flats at Carrs Hill 2015 Total Land $ 2,042,441 $ 3,143,752 $ 5,186,193 Building and improvements 9,974,457 21,389,609 31,364,066 Furniture, fixtures and equipment — 361,724 361,724 Acquired in-place leases 9,707,433 2,104,915 11,812,348 Acquired above-market leases 225,669 — 225,669 Total purchase price $ 21,950,000 $ 27,000,000 $ 48,950,000 Commerce Corner Anaheim Hills Terra Nova Plaza 2014 Total Land $ 3,396,679 $ 6,519,531 $ 10,628,293 $ 20,544,503 Building and improvements 14,304,272 9,002,457 14,054,509 37,361,238 Acquired in-place leases 2,258,817 2,830,140 4,228,979 9,317,936 Acquired above-market leases 393,562 220,199 — 613,761 Acquired below-market leases (603,330 ) (72,327 ) (7,061,781 ) (7,737,438 ) Total purchase price $ 19,750,000 $ 18,500,000 $ 21,850,000 $ 60,100,000 Heritage Parkway Wallingford Plaza 2013 Total Land $ 2,310,684 $ 3,713,306 $ 6,023,990 Building and improvements 7,206,490 7,626,594 14,833,084 Acquired in-place leases 3,773,246 2,179,148 5,952,394 Acquired above-market leases 9,580 — 9,580 Acquired below-market leases — (791,100 ) (791,100 ) Total purchase price $ 13,300,000 $ 12,727,948 $ 26,027,948
Schedule Future Amortization Related to Acquired Intangible Assets and Liabilities	Future amortization related to acquired intangible assets and liabilities as of December 31, 2015 is as follows: Acquired in-place leases Acquired above-market leases Acquired below-market leases 2016 $ 4,751,434 $ 137,362 $ (478,507 ) 2017 3,126,055 134,986 (463,229 ) 2018 2,968,220 108,651 (462,314 ) 2019 1,884,813 82,511 (448,581 ) 2020 1,784,884 80,274 (433,153 ) Thereafter 7,961,518 128,980 (5,573,165 ) Total $ 22,476,924 $ 672,764 $ (7,858,949 )
Schedule of Pro forma revenues and net loss	The Company recorded revenues and net income related to the properties acquired during the years ended December 31, 2015, 2014 and 2013, as follows: Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Revenues $ 776,026 $ 2,801,262 $ 776,389 Net gain (loss) $ (1,165,400 ) $ 165,746 $ (51,791 ) The Company's estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisitions of Commerce Corner, Anaheim Hills, Terra Nova Plaza,The Flats at Carrs Hill and Loudoun Gateway were completed on January 1, 2014), for the year ended December 31, 2015 are as follows: Year Ended December 31, 2015 Revenues $ 13,156,144 Net loss $ (2,390,536 ) Net loss per common share: Basic and diluted $ (0.40 ) The Company’s estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisitions of Commerce Corner, Anaheim Hills and Terra Nova Plaza were completed on January 1, 2013), for the year ended December 31, 2014 are as follows (unaudited): Year Ended December 31, 2014 Revenues $ 8,401,645 Net loss $ (869,329 ) Net loss per common share: Basic and diluted $ (0.23 ) The Company’s estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisitions of Heritage Parkway, Wallingford Plaza, Commerce Corner, Anaheim Hills and Terra Nova Plaza were completed on January 1, 2013), for the year ended December 31, 2013 are as follows (unaudited): Year Ended December 31, 2013 Revenues $ 7,688,756 Net loss $ (1,053,858 ) Net loss per common share: Basic and diluted $ (0.48 )
Schedule of Rental and Other Property Income	The Company's rental and other property income for the years ended December 31, 2015, 2014 and 2013 is comprised of the following: 2015 2014 2013 Rental revenue $ 7,247,058 $ 4,129,162 $ 696,253 Straight-line revenue 431,065 342,643 64,384 Above- and below-market lease amortization 372,391 119,906 1,047 Rental and other property income $ 8,050,514 $ 4,591,711 $ 761,684
Schedule of Future Minimum Rental Payments	The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of the in-place leases as of December 31, 2015 are as follows: Year ended December 31, Future Minimum Rent 2016 $ 11,944,583 2017 9,144,242 2018 8,968,473 2019 6,469,056 2020 5,614,231 Thereafter 23,300,932 $ 65,441,517

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	The following is a summary of the Company's marketable securities held as of December 31, 2015 and December 31, 2014 , which consisted entirely of publicly-traded shares of common stock in REITs as of each date. All marketable securities held as of December 31, 2015 and 2014 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. December 31, 2015 December 31, 2014 Marketable securities—cost $ 7,873,564 $ 5,811,129 Unrealized gains 827,989 592,470 Unrealized losses (132,549 ) (2,988 ) Net unrealized gain 695,440 589,482 Marketable securities—fair value $ 8,569,004 $ 6,400,611

RELATED PARTY ARRANGEMENTS (Tab

RELATED PARTY ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Deferred O&O - RREEF America Expense Payments - O&O Portion Other organization and offering costs Total organization and offering costs Organization and offering costs in excess of the 15% limit 15% limited organization and offering costs Balance, December 31, 2014 $ 4,618,318 $ 2,184,676 $ 1,122,318 $ 7,925,312 $ (1,129,897 ) $ 6,795,415 Additions — 1,786,143 1,476,501 3,262,644 1,129,897 4,392,541 Balance, December 31, 2015 $ 4,618,318 $ 3,970,819 $ 2,598,819 $ 11,187,956 $ — $ 11,187,956 In accordance with all the above, as of December 31, 2015 and 2014 , the Company owed RREEF America for the following amounts: December 31, 2015 December 31, 2014 Deferred O&O $ 2,777,061 $ 2,570,322 Expense Payments 9,200,000 6,596,731 Reimbursable under the Advisory Agreement — 36,155 Advisory fees 64,671 — Due to affiliates $ 12,041,732 $ 9,203,208 The amounts of Deferred O&O payable to RREEF America are therefore as follows. December 31, 2015 December 31, 2014 Total Deferred O&O $ 4,618,318 $ 4,618,318 Amount in excess of 15% limitation — (1,129,897 ) Reimbursements made to RREEF America (1,841,257 ) (918,099 ) Deferred O&O reimbursable to RREEF America $ 2,777,061 $ 2,570,322 Details of the Expense Payments incurred by RREEF America are detailed below. Organization and offering costs Operating expenses Total Balance, December 31, 2014 $ 2,184,676 $ 4,412,055 $ 6,596,731 Additions 1,786,143 (a) 817,126 2,603,269 Reimbursements made to RREEF America — — — Balance, December 31, 2015 $ 3,970,819 $ 5,229,181 $ 9,200,000 (a) Includes $276,113 of prepaid costs.

DISTRIBUTIONS DISTRIBUTIONS (Ta

DISTRIBUTIONS DISTRIBUTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
Schedule of Distributions	Shown below are details of the Company's distributions for 2015, 2014 and 2013 . Three Months Ended Total March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00175668 $ 0.00176456 $ 0.00173533 $ 0.00173613 Distributions paid or payable in cash $ 294,197 $ 455,114 $ 524,375 $ 559,898 $ 1,833,584 Distributions reinvested 358,056 310,384 311,644 362,491 1,342,575 Distributions declared $ 652,253 $ 765,498 $ 836,019 $ 922,389 $ 3,176,159 Class A shares issued upon reinvestment 11,126 13,684 15,386 16,598 56,794 Class B shares issued upon reinvestment 16,669 10,679 9,204 11,551 48,103 Three Months Ended Total March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Declared daily distribution rate, before adjustment for class-specific expenses $0.00167167 $ 0.00169307 $ 0.00169924 $ 0.00173473 Distributions paid or payable in cash $ 130,908 $ 154,435 $ 200,365 $ 248,896 $ 734,604 Distributions reinvested 217,739 242,092 278,194 309,211 1,047,236 Distributions declared $ 348,647 $ 396,527 $ 478,559 $ 558,107 $ 1,781,840 Class A shares issued upon reinvestment 5,162 6,244 8,109 9,145 28,660 Class B shares issued upon reinvestment 12,505 13,296 14,125 15,022 54,948 Three Months Ended Total March 31, 2013 June 30, 2013 September 30, 2013 December 31, 2013 Declared daily distribution rate, before adjustment for class-specific expenses $ — $ 0.00164384 $ 0.00164384 $ 0.00166682 Distributions paid or payable in cash $ — $ — $ 31,262 $ 102,611 $ 133,873 Distributions reinvested — 41,945 131,832 165,353 339,130 Distributions declared $ — $ 41,945 $ 163,094 $ 267,964 $ 473,003 Class A shares issued upon reinvestment N/A — 19 1,715 1,734 Class B shares issued upon reinvestment N/A 3,469 10,829 11,806 26,104

INCOME TAXES INCOME TAXES (Tabl

INCOME TAXES INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Characteristics of Distributions	The characterization of the distributions is generally determined during the month of January following the close of the tax year, and is as follows for the years ended December 31, 2015, 2014 and 2013 : Characterization Box number Year Ended December 31, 2015 Year Ended December 31, 2014 Year Ended December 31, 2013 Ordinary income 1a 20.6151 % 4.2962 % — % Capital gain distribution 2a 0.4423 0.3375 — Nondividend distributions (return of capital) 3 78.9426 95.3663 100.0000 Total 100.0000 % 100.0000 % 100.0000 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	he following tables set forth the carrying value, revenue and the components of operating income of the Company's segments reconciled to total assets as of December 31, 2015 and 2014 and net loss for the years ended December 31, 2015, 2014 and 2013. Real Estate Properties Real Estate Equity Securities Total Carrying value as of December 31, 2015 $ 135,305,346 $ 8,569,004 $ 143,874,350 Reconciliation to total assets of December 31, 2015 Carrying value per reportable segments $ 143,874,350 Corporate level assets 4,191,923 Total assets $ 148,066,273 Carrying value as of December 31, 2014 $ 91,429,128 $ 6,400,611 $ 97,829,739 Reconciliation to total assets of December 31, 2014 Carrying value per reportable segments $ 97,829,739 Corporate level assets 2,840,501 Total assets $ 100,670,240 Real Estate Properties Real Estate Equity Securities Total Year Ended December 31, 2015 Revenues Rental and other property income $ 8,050,514 $ — $ 8,050,514 Tenant reimbursement income 1,066,073 — 1,066,073 Investment income on marketable securities — 284,627 284,627 Total revenues 9,116,587 284,627 9,401,214 Operating expenses Property operating expenses 2,118,849 — 2,118,849 Total segment operating expenses 2,118,849 — 2,118,849 Operating income - Segments $ 6,997,738 $ 284,627 $ 7,282,365 Year Ended December 31, 2014 Revenues Rental and other property income $ 4,591,711 $ — $ 4,591,711 Tenant reimbursement income 593,845 — 593,845 Investment income on marketable securities — 133,208 133,208 Total revenues 5,185,556 133,208 5,318,764 Operating expenses Property operating expenses 1,007,235 — 1,007,235 Total segment operating expenses 1,007,235 — 1,007,235 Operating income - Segments $ 4,178,321 $ 81,316 $ 4,311,529 Year Ended December 31, 2013 Revenues Rental and other property income $ 761,684 $ — $ 761,684 Tenant reimbursement income 14,705 — 14,705 Investment income on marketable securities — 81,316 81,316 Total revenues 776,389 81,316 857,705 Operating expenses Property operating expenses 35,872 — 35,872 Total segment operating expenses 35,872 — 35,872 Operating income - Segments $ 740,517 $ 81,316 $ 821,833 Year Ended December 31, Reconciliation to net loss 2015 2014 2013 Operating income - Segments $ 7,282,365 $ 4,311,529 $ 821,833 General and administrative expenses (2,012,137 ) (2,232,336 ) (1,653,358 ) Advisory expenses (607,614 ) — — Acquisition related expenses (603,539 ) (333,554 ) (137,484 ) Depreciation (2,233,667 ) (1,097,034 ) (192,616 ) Amortization (2,735,138 ) (1,461,422 ) (409,194 ) Operating loss (909,730 ) (812,817 ) (1,570,819 ) Interest expense (1,330,601 ) (1,078,124 ) (324,560 ) Net realized gain upon sale of marketable securities 12,635 91,837 (85,824 ) Net loss $ (2,227,696 ) $ (1,799,104 ) $ (1,981,203 )

QUARTERLY RESULTS (UNAUDITED) (

QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2015, 2014 and 2013 . As the Company commenced operations on May 30, 2013, there are no results of operations for the three months ended March 31, 2013. For the Quarter Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues from real estate investments $ 2,050,233 $ 2,053,027 $ 2,109,836 $ 2,903,491 Investment income on marketable securities 47,045 59,747 68,310 109,525 Total revenues 2,097,278 2,112,774 2,178,146 3,013,016 Operating expenses (2,227,469 ) (1,985,045 ) (2,493,627 ) (3,604,803 ) Interest expense (462,448 ) (258,315 ) (249,343 ) (360,495 ) Net realized gain (loss) upon sale of marketable securities 179,304 (83,104 ) (71,771 ) (11,794 ) Net loss $ (413,335 ) $ (213,690 ) $ (636,595 ) $ (964,076 ) Weighted average number of common shares outstanding: 4,134,878 4,771,626 5,251,033 5,780,744 Net loss per common share: $ (0.10 ) $ (0.04 ) $ (0.12 ) $ (0.17 ) For the Quarter Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues from real estate investments $ 594,467 $ 952,394 $ 1,555,194 $ 2,083,501 Investment income on marketable securities 25,521 26,715 29,616 51,356 Total revenues 619,988 979,109 1,584,810 2,134,857 Operating expenses (1,052,850 ) (1,370,943 ) (1,863,350 ) (1,844,438 ) Interest expense (128,088 ) (220,538 ) (310,450 ) (419,048 ) Net realized gain (loss) upon sale of marketable securities (26,567 ) 36,165 29,182 53,057 Net loss $ (587,517 ) $ (576,207 ) $ (559,808 ) $ (75,572 ) Weighted average number of common shares outstanding: 2,320,089 2,577,389 3,068,502 3,499,520 Net loss per common share: $ (0.25 ) $ (0.22 ) $ (0.18 ) $ (0.02 ) For the Quarter Ended June 30, 2013 September 30, 2013 December 31, 2013 Revenues from real estate investments $ 107,494 $ 313,307 $ 355,588 Investment income on marketable securities 19,990 29,299 32,027 Total revenues 127,484 342,606 387,615 Operating expenses (704,342 ) (796,012 ) (928,169 ) Interest expense (73,098 ) (138,375 ) (113,087 ) Net realized gain (loss) upon sale of marketable securities (29,753 ) 4,678 (60,749 ) Net loss $ (679,709 ) $ (587,103 ) $ (714,390 ) Weighted average number of common shares outstanding: 310,026 1,095,953 1,755,768 Net loss per common share: $ (2.19 ) $ (0.54 ) $ (0.41 )

ORGANIZATION (Details)

ORGANIZATION (Details)	May. 30, 2013USD ($)	Feb. 14, 2012USD ($)shares	Dec. 31, 2015USD ($)class_of_stock	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Feb. 07, 2012USD ($)
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Issuance of common stock, value	$ 10,000,000		$ 32,581,726	$ 19,031,109	$ 26,071,653
Value of shares offered pursuant to registration statement						$ 2,250,000,000
Dividend reinvestment plan						250,000,000
Class of common stocks | class_of_stock			2
RREEF Property Trust [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
General Partners' contributed capital						199,000
RREEF Property OP Holder [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Limited Partners' contributed capital						$ 1,000
Common Class B [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Issuance of common stock, shares | shares		16,667
Issuance of common stock, value		$ 200,000

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015USD ($)tenantsegmentProperty	Dec. 31, 2014USD ($)tenantProperty	Dec. 31, 2013USD ($)Property	Mar. 02, 2016store
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum offering costs as percentage of gross proceeds from initial public offering	15.00%
Percentage of Dealer Manager Fee	0.55%
Percentage of Distribution Fee	0.50%
Percentage of taxable income required for REIT distribution	90.00%
Number of primary segments | segment	3
Concentration of revenue, geographic area and property type	10.00%
In-place base annualized rental revenues, as percent	10.00%
Straight Line Rent | $	$ 431,065	$ 342,643	$ 64,384
Property | Gross rental revenues
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	91.40%	100.00%	100.00%
Property | Gross rental revenues | Terra Nova Plaza, Chula Vista, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	13.70%	24.10%	94.60%
Property | Gross rental revenues | Anaheim Hills Office Plaza, Anaheim, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	11.90%	21.90%	5.40%
Property | Gross rental revenues | Commerce Corner, Logan Township, NJ
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	19.10%	23.60%	0.00%
Property | Gross rental revenues | Heritage Parkway, Woodridge, IL
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	22.20%	19.70%	0.00%
Property | Gross rental revenues | Wallingford Plaza, Seattle, WA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	24.50%	10.70%	0.00%
Tenant | Gross rental revenues
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	71.40%	73.70%	97.50%
Tenant | Gross rental revenues | Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	13.70%	24.10%	94.60%
Tenant | Gross rental revenues | Allstate Insurance Company - Heritage Parkway
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	11.60%	14.30%	0.00%
Tenant | Gross rental revenues | Walgreen Company - Wallingford Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	6.30%	11.30%	2.90%
Tenant | Gross rental revenues | Performance Food Group, Inc. - Commerce Corner
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	15.20%	13.30%	0.00%
Tenant | Gross rental revenues | The Sports Authority Inc. [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	12.40%	5.40%	0.00%
Tenant | Gross rental revenues | Bed, Bath & Beyond [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues	12.20%	5.30%	0.00%
Tenant | In-place annualized rents
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	43.00%	61.90%	82.70%
Tenant | In-place annualized rents | orbital [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	21.60%	0.00%	0.00%
Tenant | In-place annualized rents | Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	10.40%	18.70%	58.00%
Tenant | In-place annualized rents | Allstate Insurance Company - Heritage Parkway
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	0.00%	12.50%	0.00%
Tenant | In-place annualized rents | Walgreen Company - Wallingford Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	0.00%	0.00%	24.70%
Tenant | In-place annualized rents | Performance Food Group, Inc. - Commerce Corner
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	11.00%	18.90%	0.00%
Tenant | In-place annualized rents | The Sports Authority Inc. [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
In-place base annualized rental revenues, as percent	0.00%	11.80%	0.00%
Minimum | Anaheim Hills Office Plaza, Anaheim, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	5 years
Minimum | Commerce Corner, Logan Township, NJ
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	5 years
Minimum | Heritage Parkway, Woodridge, IL
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	5 years
Minimum | Wallingford Plaza, Seattle, WA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	5 years
Maximum | Anaheim Hills Office Plaza, Anaheim, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	40 years
Maximum | Commerce Corner, Logan Township, NJ
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	40 years
Maximum | Heritage Parkway, Woodridge, IL
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	40 years
Maximum | Wallingford Plaza, Seattle, WA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	40 years
Industrial, Retail and Office Properties | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	20 years
Industrial, Retail and Office Properties | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	40 years
Residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	27 years 6 months
Furniture and Equipment | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	5 years
Furniture and Equipment | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life	7 years
Multifamily [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of tenants | tenant	316
Commercial and Industrial Sector [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property	6	5	2
Number of tenants	14	13	6
Student Campus [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property	1
Subsequent Event [Member] | The Sports Authority Inc. [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number Store, Planned Closed | store				140
Number of Stores | store				463

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Details) - USD ($)	Dec. 31, 2015	Mar. 06, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Line of Credit	$ 71,784,456		$ 48,237,062
Wells Fargo Bank [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Line of Credit	$ 72,500,000
Regions Bank [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Line of Credit		$ 42,400,000	$ 48,400,000

REAL ESTATE INVESTMENTS - Narra

REAL ESTATE INVESTMENTS - Narrative (Details)	Oct. 02, 2014USD ($)ft²tenantProperty	Jul. 02, 2014USD ($)ft²tenantProperty	Apr. 11, 2014USD ($)ft²tenant	Dec. 18, 2013USD ($)ft²storytenant	May. 31, 2013USD ($)ft²	Dec. 31, 2015USD ($)ft²tenantProperty	Sep. 30, 2015USD ($)ft²storybedunit	Dec. 31, 2015USD ($)ft²tenantPropertyshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)shares
Real Estate Properties [Line Items]
Acquisition funded from lines of credit	$ 19,100,000	$ 14,700,000	$ 17,600,000	$ 5,500,000	$ 6,700,000			$ 92,926,851	$ 51,400,000	$ 12,200,000
Acquisition related costs								$ 603,539	$ 333,554	$ 137,484
Weighted Average Shares Outstanding, Basic and Diluted | shares								5,978,320	3,708,964	2,190,357
Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza
Real Estate Properties [Line Items]
Percentage of rentable space leased						100.00%		100.00%
Net rentable area | ft²					94,233
Heritage Parkway
Real Estate Properties [Line Items]
Total real estate at cost					$ 13,300,000
Wallingford Plaza
Real Estate Properties [Line Items]
Total real estate at cost				$ 12,728,000
Net rentable area | ft²				30,761
Number of Stories | story				3
Number of tenants | tenant				5
Commerce Corner, Logan Township, NJ
Real Estate Properties [Line Items]
Total real estate at cost			19,750,000
Acquisition funded from lines of credit			$ 8,840,000
Net rentable area | ft²			259,910
Anaheim Hills
Real Estate Properties [Line Items]
Total real estate at cost		18,500,000
Acquisition funded from lines of credit		$ 10,130,000
Number of real estate properties owned | Property		3
Net rentable area | ft²		73,892
Number of tenants | tenant		3	2
Terra Nova Plaza
Real Estate Properties [Line Items]
Total real estate at cost	21,850,000
Acquisition funded from lines of credit	$ 12,000,000
Number of real estate properties owned | Property	4
Net rentable area | ft²	96,114
Number of tenants | tenant	2
Flats at Carrs Hill [Member]
Real Estate Properties [Line Items]
Total real estate at cost							$ 27,000,000
Acquisition funded from lines of credit							$ 13,429,038
Number of Stories | story							5
Number Of Beds In Real Estate Property | bed							316
Number of Units in Real Estate Property | unit							138
Area of Real Estate Property | ft²							135,864
Loudoun Gateway [Member]
Real Estate Properties [Line Items]
Total real estate at cost						$ 21,950,000
Acquisition funded from lines of credit						$ 11,780,984
Number of real estate properties owned | Property						6		6
Number of tenants | tenant						1		1
Area of Real Estate Property | ft²						102,015		102,015
Line of Credit [Member] | Wells Fargo Bank [Member]
Real Estate Properties [Line Items]
Acquisition funded from lines of credit							$ 13,570,962
Line of Credit [Member] | Wells Fargo Bank [Member] | Flats at Carrs Hill [Member]
Real Estate Properties [Line Items]
Acquisition funded from lines of credit							$ 27,000,000
Line of Credit [Member] | Wells Fargo Bank [Member] | Loudoun Gateway [Member]
Real Estate Properties [Line Items]
Acquisition funded from lines of credit						$ 20,000,000

REAL ESTATE INVESTMENTS - Purch

REAL ESTATE INVESTMENTS - Purchase Price Allocation (Details) - USD ($)	Dec. 31, 2015	Dec. 21, 2015	Sep. 30, 2015	Dec. 31, 2014	Oct. 02, 2014	Jul. 02, 2014	Apr. 11, 2014	Dec. 31, 2013	Dec. 18, 2013	May. 31, 2013
Business Acquisition [Line Items]
Land	$ 5,186,193
Building and improvements	31,364,066
Acquired in-place lease	11,812,348
Acquired above-market leases	225,669
Total purchase price	48,950,000			$ 60,100,000				$ 26,027,948
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment	$ 361,724
Flats at Carrs Hill [Member]
Business Acquisition [Line Items]
Land		$ 2,042,441	$ 3,143,752
Building and improvements		9,974,457	21,389,609
Acquired in-place lease		9,707,433	2,104,915
Acquired above-market leases		225,669	0
Total purchase price		21,950,000	27,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Equipment		$ 0	$ 361,724
Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Land				20,544,503				6,023,990
Building and improvements				37,361,238				14,833,084
Acquired in-place lease				9,317,936				5,952,394
Acquired above-market leases				613,761				9,580
Acquired below-market leases				(7,737,438)				(791,100)
Total purchase price				$ 60,100,000				$ 26,027,948
Fair Value, Inputs, Level 3 [Member] | Commerce Corner
Business Acquisition [Line Items]
Land							$ 3,396,679
Building and improvements							14,304,272
Acquired in-place lease							2,258,817
Acquired above-market leases							393,562
Acquired below-market leases							(603,330)
Total purchase price							$ 19,750,000
Fair Value, Inputs, Level 3 [Member] | Anaheim Hills
Business Acquisition [Line Items]
Land						$ 6,519,531
Building and improvements						9,002,457
Acquired in-place lease						2,830,140
Acquired above-market leases						220,199
Acquired below-market leases						(72,327)
Total purchase price						$ 18,500,000
Fair Value, Inputs, Level 3 [Member] | Terra Nova Plaza
Business Acquisition [Line Items]
Land					$ 10,628,293
Building and improvements					14,054,509
Acquired in-place lease					4,228,979
Acquired above-market leases					0
Acquired below-market leases					(7,061,781)
Total purchase price					$ 21,850,000
Fair Value, Inputs, Level 3 [Member] | Heritage Parkway
Business Acquisition [Line Items]
Land										$ 2,310,684
Building and improvements										7,206,490
Acquired in-place lease										3,773,246
Acquired above-market leases										9,580
Acquired below-market leases										0
Total purchase price										$ 13,300,000
Fair Value, Inputs, Level 3 [Member] | Wallingford Plaza
Business Acquisition [Line Items]
Land									$ 3,713,306
Building and improvements									7,626,594
Acquired in-place lease									2,179,148
Acquired above-market leases									0
Acquired below-market leases									(791,100)
Total purchase price									$ 12,727,948

REAL ESTATE INVESTMENTS - Amort

REAL ESTATE INVESTMENTS - Amortization (Details)	Dec. 31, 2015USD ($)
Acquired below-market leases
2,015	$ (478,507)
2,016	(463,229)
2,017	(462,314)
2,018	(448,581)
2,019	(433,153)
Thereafter	(5,573,165)
Total	(7,858,949)
Acquired-in-Place [Member]
Acquired in-place and above-market leases
2,015	4,751,434
2,016	3,126,055
2,017	2,968,220
2,018	1,884,813
2,019	1,784,884
Thereafter	7,961,518
Total	22,476,924
Above-Market Leases [Member]
Acquired in-place and above-market leases
2,015	137,362
2,016	134,986
2,017	108,651
2,018	82,511
2,019	80,274
Thereafter	128,980
Total	$ 672,764

REAL ESTATE INVESTMENTS - Pro F

REAL ESTATE INVESTMENTS - Pro Forma (Details) - USD ($)	3 Months Ended											12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Acquisition related expenses												$ 603,539	$ 333,554	$ 137,484
Pro Forma Information [Abstract]
Revenues												13,156,144	8,401,645	7,688,756
Revenues	$ 3,013,016	$ 2,178,146	$ 2,112,774	$ 2,097,278	$ 2,134,857	$ 1,584,810	$ 979,109	$ 619,988	$ 387,615	$ 342,606	$ 127,484	9,401,214	5,318,764	857,705
Net Income (Loss) Attributable to Parent	$ (964,076)	$ (636,595)	$ (213,690)	$ (413,335)	$ (75,572)	$ (559,808)	$ (576,207)	$ (587,517)	$ (714,390)	$ (587,103)	$ (679,709)	(2,227,696)	(1,799,104)	(1,981,203)
Net loss												$ (2,390,536)	$ (869,329)	$ (1,053,858)
Net loss per common share, basic and diluted												$ (0.40)	$ (0.23)	$ (0.48)
Weighted Average Shares Outstanding, Basic and Diluted												5,978,320	3,708,964	2,190,357
Flats at Carrs Hill [Member]
Pro Forma Information [Abstract]
Revenues												$ 776,026	$ 2,801,262	$ 776,389
Net Income (Loss) Attributable to Parent												$ (1,165,400)	$ 165,746	$ (51,791)

REAL ESTATE INVESTMENTS REAL ES

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS - Rental and Other Property Income (Details) - USD ($)	3 Months Ended											12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate [Abstract]
Rental revenue												$ 7,247,058	$ 4,129,162	$ 696,253
Straight Line Rent												431,065	342,643	64,384
Above- and below-market lease amortization												372,391	119,906	1,047
Rental and other property income	$ 2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	$ 2,083,501	$ 1,555,194	$ 952,394	$ 594,467	$ 355,588	$ 313,307	$ 107,494	$ 8,050,514	$ 4,591,711	$ 761,684

REAL ESTATE INVESTMENTS - Futur

REAL ESTATE INVESTMENTS - Future Minimum Rents Payable (Details)	Dec. 31, 2015USD ($)
Real Estate [Abstract]
2,015	$ 11,944,583
2,016	9,144,242
2,017	8,968,473
2,018	6,469,056
2,019	5,614,231
Thereafter	23,300,932
Total	$ 65,441,517

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]
Marketable securities—cost	$ 7,873,564	$ 5,811,129
Unrealized gains	827,989	592,470
Unrealized losses	(132,549)	(2,988)
Net unrealized gain	695,440	589,482
Marketable securities—fair value	8,569,004	6,400,611
Proceeds from sale of marketable securities	9,643,988	3,641,057	$ 2,393,787
Gross realized gains from sale of marketable securities	425,130	169,692	35,197
Gross realized losses from sale of marketable securities	$ 412,495	$ 77,855	$ 121,021

LINE OF CREDIT (Details)

LINE OF CREDIT (Details)	Mar. 06, 2015USD ($)	Oct. 02, 2014USD ($)	Jul. 02, 2014USD ($)	Apr. 11, 2014USD ($)	Dec. 18, 2013USD ($)	May. 31, 2013USD ($)	May. 01, 2013USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Line of Credit Facility [Line Items]
Long-term Line of Credit									$ 71,784,456	$ 48,237,062
Proceeds from line of credit		$ 19,100,000	$ 14,700,000	$ 17,600,000	$ 5,500,000	$ 6,700,000			92,926,851	51,400,000	$ 12,200,000
Percentage of Property Value	65.00%
Percentage of Minimum Debt Yield	11.00%
Amortization of deferred financing costs									372,071	385,978	$ 183,684
Wells Fargo Bank [Member]
Line of Credit Facility [Line Items]
Line of credit, current borrowing capacity	$ 75,000,000								$ 75,000,000
Debt Instrument, Extension Period	2 years
Line of credit, interest rate at period end									2.05%
Long-term Line of Credit									$ 72,500,000
Deferred Finance Costs, Net									715,544
Line of credit, net of deferred Financing Costs									71,784,456
Maximum borrowing capacity									150,000,000
Expansion feature, increase limit									$ 25,000,000
Line of credit term	3 years
Wells Fargo Bank [Member] | Minimum
Line of Credit Facility [Line Items]
Number of real estate properties owned | Property									5
Wells Fargo Bank [Member] | Minimum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.70%
Wells Fargo Bank [Member] | Maximum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.90%
Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit, current borrowing capacity							$ 50,000,000
Line of credit, interest rate at period end	2.66%
Long-term Line of Credit	$ 42,400,000									48,400,000
Deferred Finance Costs, Net										162,938
Line of credit, net of deferred Financing Costs										$ 48,237,062
Regions Bank [Member] | Minimum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate							2.20%
Regions Bank [Member] | Maximum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate							2.50%
Line of Credit [Member] | Wells Fargo Bank [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit	43,426,851
Proceeds from line of credit								$ 13,570,962
Amortization of deferred financing costs	$ 82,762

RELATED PARTY ARRANGEMENTS (Det

RELATED PARTY ARRANGEMENTS (Details) - USD ($)	3 Months Ended	12 Months Ended			23 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jan. 03, 2014	Dec. 16, 2014
Related Party Transaction [Line Items]
Term of Agreements		1 year
Maximum offering costs as percentage of gross proceeds from public offering		15.00%
Offering costs incurred		$ 3,262,644
Reimbursement period		60 months
Due to affiliate		$ 77,884,489	$ 45,302,762			$ 200,000,000
Expense Payments						$ 9,200,000
Due to related party, expenses, quarterly repayment commitment		250,000
Four fiscal quarter total operating expense		2,592,002
Total operating expense exceed 2%/25% guideline		499,424
Increase (Decrease) in Prepaid Expense		$ 474,991	83,478	$ 17,959
RREEF America [Member]
Related Party Transaction [Line Items]
Daily advisory fee accrued as percentage of fixed component of investment		0.00274%
Maximum offering costs as percentage of gross proceeds from public offering		15.00%
Combined net asset value, common stock, at which advisory fee will begin accrual		$ 50,000,000
Performance fee to advisor, percentage return per share threshold		6.00%
Performance fee to advisor as percent of excess total return		25.00%
Performance fee to advisor, limit as percent of excess total return		10.00%
Performance fee to advisor, net asset value per share, threshold to which no fee earned on increase		$ 12
Reimbursable under the Advisory Agreement		$ 0	36,155
Related Party Transaction, Reimbursements (To) From Related Parties During the Period		22,242
Offering costs incurred					$ 4,618,318
Expense Payments		$ 9,200,000	6,596,731
Underwriting compensation for initial public offering as percent of gross offering proceeds		10.00%
Expenses to advisor not reimbursable, percentage of invested assets threshold exceeded by operating expenses	2.00%	2.00%
Expenses to advisor not reimbursable, percentage of net income excluding certain reductions threshold exceeded by operating expenses	25.00%	25.00%
New Class of Shares [Member]
Related Party Transaction [Line Items]
Increase (Decrease) in Prepaid Expense		$ 276,113
Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursements (To) From Related Parties During the Period		923,158	918,099
Reimbursements made (to) by RREEF America		1,841,257	918,099
Organization and Offering Costs [Member] | RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments		3,970,819	2,184,676
Deferred O&O		$ 4,618,318	$ 4,618,318

RELATED PARTY ARRANGEMENTS Expe

RELATED PARTY ARRANGEMENTS Expense Support Agreement (Details) - USD ($)	12 Months Ended	23 Months Ended
	Dec. 31, 2015	Jan. 03, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Due to related party, expenses, quarterly repayment commitment	$ 250,000
Offering costs incurred	3,262,644
RREEF America [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursable Under Advisory Agreement	0		$ 36,155
Offering costs incurred		$ 4,618,318
Expense Payments, beginning balance	6,596,731
Expense Payments, Additions	2,603,269
Expense Payments, ending balance	9,200,000
RREEF America [Member] | Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Expense Payments, beginning balance	2,184,676
Expense Payments, Additions	1,786,143
Expense Payments, ending balance	3,970,819
RREEF America [Member] | Operating Expense [Member]
Related Party Transaction [Line Items]
Expense Payments, beginning balance	4,412,055
Expense Payments, Additions	817,126
Expense Payments, ending balance	$ 5,229,181

RELATED PARTY ARRANGEMENTS Orga

RELATED PARTY ARRANGEMENTS Organization and Offering Costs (Details) - USD ($)	12 Months Ended	23 Months Ended
	Dec. 31, 2015	Jan. 03, 2014	Dec. 31, 2014	Dec. 16, 2014
Related Party Transaction [Line Items]
Expense Payments				$ 9,200,000
Other organization and offering costs	$ 2,598,819		$ 1,122,318
Costs not subject to reimbursement by RREEF America, Additions	1,476,501
Offering costs incurred	3,262,644
Total organization and offering costs	11,187,956		7,925,312
Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Reimbursements made (to) by RREEF America	(1,841,257)		(918,099)
Amount in excess of 15% limitation	0		(1,129,897)
RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments	9,200,000		6,596,731
Expense Payments, Additions	2,603,269
Offering costs incurred		$ 4,618,318
RREEF America [Member] | Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Deferred O&O	4,618,318		4,618,318
Expense Payments	3,970,819		2,184,676
Expense Payments, Additions	1,786,143
Amount in excess of 15% limitation	0		(1,129,897)
Amount in excess of the 15% limit, Additions	1,129,897
Total organization and offering costs	11,187,956		6,795,415
Total organization and offering costs, Additions	4,392,541
Deferred O&O reimbursable to RREEF America	$ 2,777,061		$ 2,570,322

RELATED PARTY ARRANGEMENTS Due

RELATED PARTY ARRANGEMENTS Due to Affiliates (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 16, 2014
Related Party Transaction [Line Items]
Expense Payments				$ 9,200,000
Management Fee Expense	$ 64,671	$ 0
RREEF America [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Fees, Fixed Component	607,614	0	$ 0
Expense Payments	9,200,000	6,596,731
Reimbursable under the Advisory Agreement	0	36,155
Due to affiliates	12,041,732	9,203,208
Related Party Transaction, Fees, Performance Component	0	0	0
Related Party Transaction, Fees	607,614	0	$ 0
Organization and Offering Costs [Member] | RREEF America [Member]
Related Party Transaction [Line Items]
Deferred O&O reimbursable to RREEF America	2,777,061	2,570,322
Expense Payments	$ 3,970,819	$ 2,184,676

CAPITALIZATION (Details)

CAPITALIZATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	1,000,000,000
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, par value (in usd per share)	$ 0.01
Maximum selling commissions as percentage of purchase price	3.00%
Common Stock, Follow-on	$ 2,300,000,000
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Aggregate redemptions value limit, as a percentage of combined net asset value	5.00%
Aggregate redemptions value including carryover limit, as a percentage of combined net asset value	10.00%
Common stock redemption limit per shareholder, as a percentage of shares held	5.00%
Redemptions as a percentage of net asset value, last business day of preceding quarter	4.00%
Short term trading penalty period	365 days
Short-term trading discount as percentage of gross proceeds	2.00%
Minimum balance of common stock, threshold at which company has option to redeem shares	$ 500
Stock Redeemed or Called During Period, Value	$ 4,393,947	$ 877,465
Common Class A [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Stock Redeemed or Called During Period, Shares	73,779.978	10,008.473
Common Stock Redemption Weighted Average Price	$ 12.71	$ 12.23
Stock Redeemed or Called During Period, Value	$ 937,876	$ 122,388
Common Class B [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Stock Redeemed or Called During Period, Shares	274,878.197	60,391.121
Common Stock Redemption Weighted Average Price	$ 12.78	$ 12.67
Stock Redeemed or Called During Period, Value	$ 3,513,911	$ 765,272

DISTRIBUTIONS (Details)

DISTRIBUTIONS (Details) - USD ($)	3 Months Ended											12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Percentage of taxable income required for REIT distribution	90.00%											90.00%
Declared daily distribution rate, before adjustment for class-specific expenses (usd per share)	$ 0.00173613	$ 0.00173533	$ 0.00176456	$ 0.00175668	$ 0.00173473	$ 0.00169924	$ 0.00169307	$ 0.00167167	$ 0.00166682	$ 0.00164384	$ 0.00164384
Distributions paid or payable in cash	$ 559,898	$ 524,375	$ 455,114	$ 294,197	$ 248,896	$ 200,365	$ 154,435	$ 130,908	$ 102,611	$ 31,262	$ 0	$ 1,833,584	$ 734,604	$ 133,873
Distributions reinvested	362,491	311,644	310,384	358,056	309,211	278,194	242,092	217,739	165,353	131,832	41,945	1,342,575	1,047,236	339,130
Distributions declared	$ 922,389	$ 836,019	$ 765,498	$ 652,253	$ 558,107	$ 478,559	$ 396,527	$ 348,647	$ 267,964	$ 163,094	$ 41,945	$ 3,176,159	$ 1,781,840	$ 473,003
Common Class A [Member]
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	16,598	15,386	13,684	11,126	9,145	8,109	6,244	5,162	1,715	19	0	56,794	28,660	1,734
Common Class B [Member]
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	11,551	9,204	10,679	16,669	15,022	14,125	13,296	12,505	11,806	10,829	3,469	48,103	54,948	26,104

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 28,549	$ 5,850	$ 500
Percentage of distributions characterized as ordinary income	20.6151%	4.2962%	0.00%
Percentage of distributions characterized as capital gain	0.4423%	0.3375%	0.00%
Percentage of distributions characterized as nondividend	78.9426%	95.3663%	100.00%
Total	100.00%	100.00%	100.00%

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended											12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2013USD ($)	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting Information [Line Items]
General and Administrative Expense												$ (2,012,137)	$ (2,232,336)	$ (1,653,358)
Investment Advisory Fees												607,614	0	0
Real estate properties	$ 135,305,346				$ 91,429,128							135,305,346	91,429,128
Investment in marketable securities	8,569,004				6,400,611							8,569,004	6,400,611
Investments	143,874,350				97,829,739							143,874,350	97,829,739
Reconciliation to total assets of December 31, 2015
Total assets	148,066,273				100,670,240							148,066,273	100,670,240
Revenues
Rental and other property income	2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	2,083,501	$ 1,555,194	$ 952,394	$ 594,467	$ 355,588	$ 313,307	$ 107,494	8,050,514	4,591,711	761,684
Tenant reimbursement income												1,066,073	593,845	14,705
Investment income on marketable securities	109,525	68,310	59,747	47,045	51,356	29,616	26,715	25,521	32,027	29,299	19,990	284,627	133,208	81,316
Total revenues	3,013,016	2,178,146	2,112,774	2,097,278	2,134,857	1,584,810	979,109	619,988	387,615	342,606	127,484	9,401,214	5,318,764	857,705
Operating expenses
Property operating expenses												2,118,849	1,007,235	35,872
Total segment operating expenses												2,118,849	1,007,235	35,872
Operating Income - Segments												7,282,365	4,311,529	821,833
Reconciliation to net loss
Amortization												(2,735,138)	(1,461,422)	(409,194)
Operating Income (Loss)												(909,730)	(812,817)	(1,570,819)
Interest expense	(360,495)	(249,343)	(258,315)	(462,448)	(419,048)	(310,450)	(220,538)	(128,088)	(113,087)	(138,375)	(73,098)	(1,330,601)	(1,078,124)	(324,560)
Net realized loss upon sale of marketable securities	(11,794)	(71,771)	(83,104)	179,304	53,057	29,182	36,165	(26,567)	(60,749)	4,678	(29,753)	12,635	91,837	(85,824)
Net loss	(964,076)	$ (636,595)	$ (213,690)	$ (413,335)	(75,572)	$ (559,808)	$ (576,207)	$ (587,517)	$ (714,390)	$ (587,103)	$ (679,709)	$ (2,227,696)	(1,799,104)	(1,981,203)
Additional Disclosure [Abstract]
Number of reportable segments | segment												2
Business Combination, Acquisition Related Costs												$ (603,539)	(333,554)	(137,484)
Depreciation, Nonproduction												(2,233,667)	(1,097,034)	(192,616)
Real Estate Properties [Member]
Segment Reporting Information [Line Items]
Real estate properties	135,305,346				91,429,128							135,305,346	91,429,128
Revenues
Rental and other property income												8,050,514	4,591,711	761,684
Tenant reimbursement income												1,066,073	593,845	14,705
Investment income on marketable securities												0	0	0
Total revenues												9,116,587	5,185,556	776,389
Operating expenses
Property operating expenses												2,118,849	1,007,235	35,872
Total segment operating expenses												2,118,849	1,007,235	35,872
Operating Income - Segments												6,997,738	4,178,321	740,517
Real Estate Equity Securities [Member]
Segment Reporting Information [Line Items]
Investment in marketable securities	8,569,004				6,400,611							8,569,004	6,400,611
Revenues
Rental and other property income												0	0	0
Tenant reimbursement income												0	0	0
Investment income on marketable securities												284,627	133,208	81,316
Total revenues												284,627	133,208	81,316
Operating expenses
Property operating expenses												0	0	0
Total segment operating expenses												0	0	0
Operating Income - Segments												284,627	81,316	$ 81,316
Corporate [Member]
Reconciliation to total assets of December 31, 2015
Total assets	$ 4,191,923				$ 2,840,501							$ 4,191,923	$ 2,840,501

QUARTERLY RESULTS (UNAUDITED)52

QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($)	3 Months Ended											12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues from real estate investments	$ 2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	$ 2,083,501	$ 1,555,194	$ 952,394	$ 594,467	$ 355,588	$ 313,307	$ 107,494	$ 8,050,514	$ 4,591,711	$ 761,684
Investment income on marketable securities	109,525	68,310	59,747	47,045	51,356	29,616	26,715	25,521	32,027	29,299	19,990	284,627	133,208	81,316
Total revenues	3,013,016	2,178,146	2,112,774	2,097,278	2,134,857	1,584,810	979,109	619,988	387,615	342,606	127,484	9,401,214	5,318,764	857,705
Operating expenses	(3,604,803)	(2,493,627)	(1,985,045)	(2,227,469)	(1,844,438)	(1,863,350)	(1,370,943)	(1,052,850)	(928,169)	(796,012)	(704,342)	(10,310,944)	(6,131,581)	(2,428,524)
Interest expense	(360,495)	(249,343)	(258,315)	(462,448)	(419,048)	(310,450)	(220,538)	(128,088)	(113,087)	(138,375)	(73,098)	(1,330,601)	(1,078,124)	(324,560)
Net realized gain (loss) upon sale of marketable securities	(11,794)	(71,771)	(83,104)	179,304	53,057	29,182	36,165	(26,567)	(60,749)	4,678	(29,753)	12,635	91,837	(85,824)
Net loss	$ (964,076)	$ (636,595)	$ (213,690)	$ (413,335)	$ (75,572)	$ (559,808)	$ (576,207)	$ (587,517)	$ (714,390)	$ (587,103)	$ (679,709)	$ (2,227,696)	$ (1,799,104)	$ (1,981,203)
Weighted average number of common shares outstanding:	5,780,744	5,251,033	4,771,626	4,134,878	3,499,520	3,068,502	2,577,389	2,320,089	1,755,768	1,095,953	310,026	4,989,809	2,870,160	800,194
Net loss per common share:	$ (0.17)	$ (0.12)	$ (0.04)	$ (0.10)	$ (0.02)	$ (0.18)	$ (0.22)	$ (0.25)	$ (0.41)	$ (0.54)	$ (2.19)	$ (0.45)	$ (0.63)	$ (2.48)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Jan. 05, 2016$ / shares	Mar. 06, 2015USD ($)	Mar. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)Property$ / sharesshares	Sep. 30, 2015$ / shares	Jun. 30, 2015$ / shares	Mar. 31, 2015$ / shares	Dec. 31, 2014USD ($)$ / sharesshares	Sep. 30, 2014$ / shares	Jun. 30, 2014$ / shares	Mar. 31, 2014$ / shares	Dec. 31, 2013$ / shares	Sep. 30, 2013$ / shares	Jun. 30, 2013$ / shares	Dec. 31, 2015USD ($)Property$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Mar. 21, 2016	Mar. 01, 2016USD ($)	Jan. 27, 2016$ / sharesshares	Jan. 20, 2016USD ($)$ / shares	Feb. 07, 2012USD ($)
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares				1,000,000,000											1,000,000,000
Distributions declared per common share | $ / shares				$ 0.00173613	$ 0.00173533	$ 0.00176456	$ 0.00175668	$ 0.00173473	$ 0.00169924	$ 0.00169307	$ 0.00167167	$ 0.00166682	$ 0.00164384	$ 0.00164384
Line of credit, net of unamortized deferred financing costs of $715,544 and $162,938, respectively				$ 71,784,456				$ 48,237,062							$ 71,784,456	$ 48,237,062
Initial Public Offering, Value of Shares Offered Pursuant to Registration Statement																					$ 2,250,000,000
Common stock, par value (in usd per share) | $ / shares				$ 0.01											$ 0.01
Stock Redeemed or Called During Period, Value															$ 4,393,947	$ 877,465
Short-term trading discount as percentage of gross proceeds				2.00%											2.00%
Wells Fargo Bank [Member]
Subsequent Event [Line Items]
Line of credit, net of unamortized deferred financing costs of $715,544 and $162,938, respectively				$ 72,500,000											$ 72,500,000
Maximum borrowing capacity				150,000,000											150,000,000
Line of credit term		3 years
Expansion feature, increase limit				$ 25,000,000											$ 25,000,000
Wells Fargo Bank [Member] | Minimum
Subsequent Event [Line Items]
Number of real estate properties owned | Property				5											5
Wells Fargo Bank [Member] | Line of Credit [Member]
Subsequent Event [Line Items]
Line of credit, net of unamortized deferred financing costs of $715,544 and $162,938, respectively		$ 43,426,851
RREEF America [Member]
Subsequent Event [Line Items]
Combined net asset value, common stock, at which advisory fee will begin accrual				$ 50,000,000											$ 50,000,000
Daily advisory fee accrued as percentage of fixed component of investment				0.00274%											0.00274%
Percentage of RREEF America advisory fee to NAV				1.00%											1.00%
Underwriting compensation for initial public offering as percent of gross offering proceeds				10.00%											10.00%
Common Class A [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares				500,000,000				500,000,000							500,000,000	500,000,000
Common stock, par value (in usd per share) | $ / shares				$ 0.01				$ 0.01							$ 0.01	$ 0.01
Stock Redeemed or Called During Period, Shares | shares															73,779.978	10,008.473
Stock Redeemed or Called During Period, Value															$ 937,876	$ 122,388
Common Class B [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares				500,000,000				500,000,000							500,000,000	500,000,000
Common stock, par value (in usd per share) | $ / shares				$ 0.01				$ 0.01							$ 0.01	$ 0.01
Stock Redeemed or Called During Period, Shares | shares															274,878.197	60,391.121
Stock Redeemed or Called During Period, Value															$ 3,513,911	$ 765,272
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares																			1,000,000,000
Subsequent Event [Member] | Common Class A [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares																			200,000,000
Stock Redeemed or Called During Period, Shares | shares			457,246
Stock Redeemed or Called During Period, Value			$ 5,885,610
Short-term trading discount as percentage of gross proceeds																	2.00%
Subsequent Event [Member] | Common Class D [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares																			50,000,000
Initial Public Offering, Value of Shares Offered Pursuant to Registration Statement																				$ 350,000,000
Common stock, par value (in usd per share) | $ / shares																				$ 0.01
Subsequent Event [Member] | Common Class I [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares																			200,000,000
Subsequent Event [Member] | Common Class T [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares																			250,000,000
Common stock, par value (in usd per share) | $ / shares																				$ 0.01
Underwriting compensation for initial public offering as percent of gross offering proceeds																			10.00%
Subsequent Event [Member] | Common Class N [Member]
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares																			300,000,000
Common stock, par value (in usd per share) | $ / shares																			$ 0.01
Subsequent Event [Member] | Common Class B [Member]
Subsequent Event [Line Items]
Distributions declared per common share | $ / shares	$ 0.00179534
Stock Redeemed or Called During Period, Shares | shares			20,630
Stock Redeemed or Called During Period, Value			$ 269,604
Mortgages [Member] | Subsequent Event [Member] | Nationwide Bank [Member]
Subsequent Event [Line Items]
Line of credit term			10 years
Mortgage Loans on Real Estate																		$ 14,500,000
Debt Instrument, Interest Rate, Stated Percentage																		3.63%

SCHEDULE III Real Estate and 54

SCHEDULE III Real Estate and Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				$ 72,500,000
Land				31,754,687
Buildings & Improvements				103,323,261
Capitalized Cost Subsequent to Acquisition				4,177
Land, Buildings & Improvements Total				135,082,125
Accumulated Depreciation	$ (3,039,314)	$ (600,764)		(7,635,728)	$ (3,039,314)
Reconciliation of real estate owned:
Beginning balance	86,127,948	26,027,948
Acquisitions	48,950,000	60,100,000	$ 26,027,948
Ending balance	135,082,125	86,127,948	$ 26,027,948
Reconciliation of accumulated depreciation:
Beginning balance	(3,039,314)	(600,764)
Depreciation expense	4,596,414	2,438,550	$ 600,764
Ending balance	(7,635,728)	(3,039,314)	(600,764)
Aggregate cost of real estate for federal income tax purposes				136,069,000
Line of credit, net of unamortized deferred financing costs of $715,544 and $162,938, respectively				71,784,456	$ 48,237,062
SEC Schedule III, Real Estate, Other Additions	4,177	$ 0	$ 0
Lease Agreements [Member]
Reconciliation of accumulated depreciation:
Gross intangible lease assets				27,931,688
Gross intangible lease liabilities				8,528,538
Heritage Parkway
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				7,138,364
Land				2,310,684
Buildings & Improvements				10,989,316
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				13,300,000
Accumulated Depreciation	$ (2,550,110)			(2,550,110)
Date Acquired	May 31, 2013
Reconciliation of accumulated depreciation:
Ending balance	$ (2,550,110)
Heritage Parkway | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Heritage Parkway | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Wallingford Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				6,831,333
Land				3,713,306
Buildings & Improvements				9,014,642
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				12,727,948
Accumulated Depreciation	$ (713,776)			(713,776)
Date Acquired	Dec. 18, 2013
Reconciliation of accumulated depreciation:
Ending balance	$ (713,776)
Wallingford Plaza | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Wallingford Plaza | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Commerce Corner
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				10,600,202
Land				3,396,680
Buildings & Improvements				16,353,320
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				19,750,000
Accumulated Depreciation	$ (1,080,453)			(1,080,453)
Date Acquired	Apr. 11, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ (1,080,453)
Commerce Corner | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Commerce Corner | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Anaheim Hills
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				9,929,303
Land				6,519,531
Buildings & Improvements				11,980,469
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				18,500,000
Accumulated Depreciation	$ (1,712,846)			(1,712,846)
Date Acquired	Jul. 2, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ (1,712,846)
Anaheim Hills | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Anaheim Hills | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Terra Nova Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				11,727,312
Land				10,628,293
Buildings & Improvements				11,221,707
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				21,850,000
Accumulated Depreciation	$ (598,512)			(598,512)
Date Acquired	Oct. 2, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ (598,512)
Terra Nova Plaza | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Terra Nova Plaza | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Flats at Carrs Hill [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				14,492,502
Land				3,143,752
Buildings & Improvements				23,856,248
Capitalized Cost Subsequent to Acquisition				4,177
Land, Buildings & Improvements Total				27,004,177
Accumulated Depreciation	$ (912,064)			(912,064)
Date Acquired	Sep. 30, 2015
Reconciliation of accumulated depreciation:
Ending balance	$ (912,064)
Flats at Carrs Hill [Member] | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Flats at Carrs Hill [Member] | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	27 years 6 months
Loudoun Gateway [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				11,780,984
Land				2,042,441
Buildings & Improvements				19,907,559
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				21,950,000
Accumulated Depreciation	$ (67,967)			(67,967)
Date Acquired	Dec. 21, 2015
Reconciliation of accumulated depreciation:
Ending balance	$ (67,967)
Loudoun Gateway [Member] | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Loudoun Gateway [Member] | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Wells Fargo Bank [Member]
Reconciliation of accumulated depreciation:
Line of credit, net of unamortized deferred financing costs of $715,544 and $162,938, respectively				$ 72,500,000