RREEF Property Trust (ZRPTIX) 10-Q 11 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Document Information [Line Items]
Entity Registrant Name	RREEF Property Trust, Inc.
Entity Central Index Key	1,542,447
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,458,468
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,280,935
Common Class T [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,043

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Land	$ 31,754,687	$ 31,754,687
Buildings and improvements, less accumulated depreciation of $4,380,057 and $3,497,151, respectively	79,178,330	80,061,236
Property, Plant and Equipment, Net	313,621	339,735
Acquired intangible lease assets, less accumulated amortization of $6,273,277 and $4,782,000, respectively	21,658,411	23,149,688
Total investment in real estate assets, net	132,905,049	135,305,346
Investment in marketable securities	9,096,510	8,569,004
Total investment in real estate assets and marketable securities, net	142,001,559	143,874,350
Cash and cash equivalents	1,967,139	1,936,870
Receivables, net of allowance for doubtful accounts of $341,109 and zero, respectively	1,266,685	1,112,429
Prepaids and other assets	1,142,790	1,142,624
Total assets	146,378,173	148,066,273
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit, net of unamortized deferred financing costs of $633,638 and $715,544, respectively	52,566,362	71,784,456
Mortgage loan payable, net of unamortized deferred financing costs of $158,171 and zero, respectively	14,341,829	0
Accounts payable and accrued expenses	757,128	295,488
Due to affiliate	2,696,517	12,041,732
Note to affiliate, net of unamortized discount of $1,770,154	7,179,846	0
Acquired below market lease intangibles, less accumulated amortization of $789,975 and $669,589, respectively	7,738,563	7,858,949
Distributions payable	225,018	192,435
Other liabilities	2,316,974	2,193,557
Total liabilities	87,822,237	94,366,617
Stockholders' Equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0	0
Additional paid in capital	71,311,465	64,383,302
Accumulated deficit	(13,889,809)	(11,439,005)
Accumulated other comprehensive income	1,069,685	695,440
Total stockholders' equity	58,555,936	53,699,656
Total liabilities and stockholders' equity	146,378,173	148,066,273
Common Class A [Member]
Stockholders' Equity:
Common stock	32,345	30,776
Common Class I [Member]
Stockholders' Equity:
Common stock	32,210	29,143
Common Class T [Member]
Stockholders' Equity:
Common stock	40	0
Total stockholders' equity	40
Common Class D [Member]
Stockholders' Equity:
Common stock	0	0
Common Class N [Member]
Stockholders' Equity:
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Buildings and improvements, accumulated depreciation	$ 4,380,057	$ 3,497,151
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	52,280	26,166
Acquired intangible lease assets, accumulated amortization	6,273,277	4,782,000
Allowance for Doubtful Accounts Receivable	341,109	0
Debt Issuance Costs, Line of Credit Arrangements, Net	633,638	715,544
Deferred financing costs, less accumulated amortization	158,171	0
Participating Mortgage Loans, Unamortized Debt Discount, Amount		0
Off-market lease, unfavorable, accumulated depreciation	$ 789,975	$ 669,589
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
Note payable, Related Party, Unamortized Debt Discount, Amount	$ 1,770,154
Common Class A [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares issued (in shares)	3,234,318	3,077,546
Common stock, shares outstanding (in shares)	3,234,318	3,077,546
Common Class I [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000
Common stock, shares issued (in shares)	3,220,943	2,914,314
Common stock, shares outstanding (in shares)	3,220,943	2,914,314
Common Class T [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	0
Common stock, shares issued (in shares)	4,043	0
Common stock, shares outstanding (in shares)	4,043	0
Common Class D [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	0
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Common Class N [Member]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	0
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Wells Fargo Bank [Member]
Debt Issuance Costs, Line of Credit Arrangements, Net	$ 633,638	$ 715,544

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Rental and other property income	$ 3,238,899	$ 1,815,217
Tenant reimbursement income	355,396	235,016
Investment income on marketable securities	190,516	47,045
Total revenues	3,784,811	2,097,278
Expenses
General and administrative expenses	588,476	663,828
Property operating expenses	1,373,671	420,703
Management Fee Expense	205,937	145,468
Depreciation	909,020	484,528
Amortization	1,456,937	512,942
Total operating expenses	4,534,041	2,227,469
Operating loss	(749,230)	(130,191)
Interest expense	(565,707)	(462,448)
Net realized gain (loss) upon sale of marketable securities	(94,945)	179,304
Net loss	$ (1,409,882)	$ (413,335)
Weighted average number of common shares outstanding:
Basic and diluted (in shares)	6,376,234	4,134,878
Net loss per common share:
Basic and diluted (in usd per share)	$ (0.22)	$ (0.10)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,409,882)	$ (413,335)
Other comprehensive loss:
Reclassification of previous unrealized loss (gain) on marketable securities into net realized (gain) loss	94,945	(179,304)
Unrealized gain on marketable securities	279,300	262,631
Total other comprehensive income	374,245	83,327
Comprehensive loss	$ (1,035,637)	$ (330,008)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 3 months ended Mar. 31, 2016 - USD ($)	Total	Common Class A [Member]	Common Class I [Member]	Common Class T [Member]	Preferred Stock	Common StockCommon Class A [Member]	Common StockCommon Class I [Member]	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares				4,043	0	595,158	314,783
Issuance of common stock, value	12,038,303			$ 40	$ 0	$ 5,952	$ 3,148	12,029,163
Issuance of common stock through the distribution reinvestment plan (in shares)				0		18,860	12,476
Distributions reinvested	407,009					$ 189	$ 125	406,695
Stock Redeemed or Called During Period, Shares		(457,246)	(20,630)	0		457,246	(20,630)
Stock Redeemed or Called During Period, Value	(6,154,975)	$ (5,885,610)	$ (269,604)	$ 0		$ (4,572)	$ (206)	(6,150,197)
Distributions to investors	(1,040,922)								(1,040,922)
Dealer-manager fees	(98,043)							(98,043)
Other offering costs	(1,121,335)							(1,121,335)
Adjustments to Additional Paid in Capital, Discount on Note to Affiliate	1,861,880							1,861,880
Comprehensive loss	(1,035,637)								(1,409,882)	374,245
Balance (shares) at Mar. 31, 2016				4,043	0	3,234,318	3,220,943
Balance at Mar. 31, 2016	$ 58,555,936			$ 40	$ 0	$ 32,345	$ 32,210	$ 71,311,465	$ (13,889,809)	$ 1,069,685

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (1,409,882)	$ (413,335)
Depreciation	909,020	484,528
Net realized (gain) loss upon sale of marketable securities	94,945	(179,304)
Amortization of intangible lease assets and liabilities	1,370,891	419,568
Amortization of deferred financing costs	83,235	180,002
Provision for Doubtful Accounts	341,109
Straight line rent	(136,408)	(120,068)
Amortization of Debt Discount (Premium)	91,726	0
Changes in assets and liabilities:
Receivables	(154,631)	(31,012)
Prepaids and other assets	42,102	(349,682)
Accounts payable and accrued expenses	372,984	(38,897)
Other liabilities	10,697	(211,734)
Due to affiliate	84,942	504,430
Net cash provided by operating activities	1,700,730	244,496
Cash flows from investing activities:
Investment in marketable securities	(3,331,255)	(2,484,782)
Proceeds from sale of marketable securities	3,101,833	2,428,063
Net cash used in investing activities	(229,422)	(56,719)
Cash flows from financing activities:
Proceeds from line of credit	2,700,000	43,426,851
Repayments of line of credit	(22,000,000)	(48,400,000)
Proceeds from Notes Payable	14,500,000
Proceeds from issuance of common stock	11,854,962	10,555,137
Payment of offering costs	(1,330,196)	(470,226)
Repayments of Related Party Debt	250,000
Distributions to investors	(1,008,339)	(630,428)
Repurchase of shares	(6,154,975)	(36,916)
Common stock issued through the distribution reinvestment plan	407,009	358,056
Deferred financing costs paid	(159,500)	(719,314)
Net cash (used in) provided by financing activities	(1,441,039)	4,083,160
Net increase in cash and cash equivalents	30,269	4,270,937
Cash and cash equivalents, beginning of period	1,936,870	2,119,387
Cash and cash equivalents, end of period	1,967,139	6,390,324
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Accrued offering costs payable to affiliate	0	1,328,019
Distributions declared and unpaid	225,018	108,870
Unrealized gain on marketable securities	374,245	83,327
Purchases of marketable securities not yet paid	51,408	239,094
Proceeds from sale of marketable securities not yet received	(38,596)	(216,497)
Discount on note to affiliate	1,861,880	0
Proceeds from issuance of common stock not yet received	183,341	27,718
Interest paid	$ 444,400	$ 296,973

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2016
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 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”). Prior to January 20, 2016, the Company was 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 pursuant to its distribution reinvestment plan (the “Public Offering”). 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 could also reallocate the shares offered between the primary offering and the distribution reinvestment plan. On January 3, 2013, the Public Offering 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 Public 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. On January 15, 2016, the Company filed articles supplementary to its articles of incorporation to add a newly-designated Class D common stock, $0.01 par value per share ("Class D shares"). On January 20, 2016, the Company commenced a private offering of up to a maximum of $350,000,000 in Class D shares (the "Private Offering," and together with the Public Offering, the "Offerings"). On January 27, 2016, the Company filed articles supplementary and articles of amendment to 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"). On February 2, 2016, the Company filed an amendment to the Registration Statement to add the Class T shares to the Public Offering, and that amendment to the Registration Statement went effective on February 9, 2016. 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 I shares 200,000,000 Class T shares 250,000,000 Class D shares 50,000,000 Class N shares 300,000,000 1,000,000,000 Shares of the Company’s common stock are being sold at the Company’s net asset value (“NAV”) per share, plus, for Class A, T and D 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. 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	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with Rule 10-01 of Regulation S-X for interim financial statements. Accordingly, these consolidated financial statements do not include all the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of the Company's management, the accompanying consolidated financial statements include all adjustments and eliminations, consisting only of normal recurring items necessary for their fair presentation in conformity with GAAP. Interim results are not necessarily indicative of operating results for a full year. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with our audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. There have been no significant changes to Company's critical accounting policies during the three months ended March 31, 2016 . 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. 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 Offerings, preparing for the Offerings, the qualification and registration of the Offerings 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 Public 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 paid from the proceeds of the Offerings. These costs will be treated as a reduction of the total proceeds. Total organization and offering costs incurred by the Company in relation to the Public Offering will not exceed 15% of the gross proceeds from the Public Offering. In addition, the Company will not reimburse RREEF America or the Dealer Manager for any underwriting compensation (a subset of organization and offering costs) which would cause the Company’s total underwriting compensation to exceed 10% of the gross proceeds from the primary portion of the Public Offering. Concentration of Credit Risk As of March 31, 2016 and 2015 , 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 March 31, 2016 , the Company owned six commercial properties with fourteen tenants and one student housing property with 316 beds. As of March 31, 2015 , the Company owned five commercial properties with thirteen 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 three months ended March 31, 2016 and 2015 are shown below. Percent of actual gross rental revenues Property Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Loudoun Gateway, Sterling VA 23.6 % — % Flats at Carrs Hills, Athens GA 20.2 % — % Anaheim Hills Office Plaza, Anaheim CA 14.9 % 24.2 % Commerce Corner, Logan Township, NJ 12.8 % 20.8 % Terra Nova Plaza, Chula Vista, CA 1 11.5 % 26.6 % Heritage Parkway, Woodridge, IL 9.1 % 15.3 % Wallingford Plaza, Seattle, WA 7.9 % 13.1 % Total 100.0 % 100.0 % Percent of actual gross rental revenues Tenant Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Orbital ATK Inc. - Loudoun Gateway 23.6 % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 10.1 % 16.5 % Allstate Insurance Company - Heritage Parkway 9.1 % 15.3 % Bed, Bath & Beyond - Terra Nova Plaza 8.2 % 13.2 % Performance Food Group, Inc. - Commerce Corner 7.8 % 12.5 % The Sports Authority, Inc - Terra Nova Plaza 1 3.3 % 13.4 % Total 62.1 % 70.9 % The Company's tenants representing more than 10% of in-place annualized base rental revenues as of March 31, 2016 and 2015 were as follows: Percent of in-place annualized base rental revenues as of Tenant March 31, 2016 March 31, 2015 Orbital ATK Inc. - Loudoun Gateway 22.0 % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 11.1 % 19.2 % Allstate Insurance Company - Heritage Parkway 10.3 % 18.6 % Performance Food Group, Inc. - Commerce Corner 6.8 % 12.5 % The Sports Authority, Inc. - Terra Nova Plaza 1 6.3 % 11.8 % Total 56.5 % 62.1 % 1 On March 2, 2016, The Sports Authority, Inc., a tenant at Terra Nova Plaza, declared bankruptcy. The Sports Authority, Inc. publicly announced plans to close 140 of its 463 stores, and The Sports Authority, Inc. location at Terra Nova Plaza was not on such list. However, on April 26, 2016, The Sports Authority, Inc. notified the bankruptcy judge that the company no longer plans to reorganize and will instead pursue a full sale of its assets. On May 16, 2016, The Sports Authority Inc.'s assets are scheduled to be auctioned off, including the lease at Terra Nova Plaza. All outstanding receivables as of March 31, 2016 related to The Sports Authority, Inc., including $163,277 of accounts receivable for March base rent plus certain tenant reimbursements, and $173,730 of deferred rent receivable, have been reserved, with such reserve included in property operating expenses on the consolidated statements of operations. Base rent for April and May 2016 was received by the Company from The Sports Authority, Inc. Recent Accounting Pronouncements 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 would be for the arrangement as a service contract. ASU 2015-05 became effective for the Company on January 1, 2016. The Company determined that its cloud computing arrangements do not contain software licenses, and thus there was no impact on the Company's consolidated financial statements upon adoption of ASU 2015-05. 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 became effective for the Company on January 1, 2016. There was no impact on the Company's consolidated financial statements upon the adoption of ASU 2015-16. 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 with early adoption permitted. The Company has not yet evaluated the impact of ASU 2016-01 on its consolidated financial statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
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 mortgage 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 approximated its fair value of $53,200,000 and $72,500,000 at March 31, 2016 and December 31, 2015 , respectively. The carrying amount of the Company's mortgage loan payable approximated its fair value of $14,500,000 at March 31, 2016 . The fair value of the Company's note to affiliate is determined using Level 2 and Level 3 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 note to affiliate approximates its fair value of $7,179,846 as of March 31, 2016 . The Company's financial instruments, other than those referred to above, 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	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS The Company acquired no real estate properties during the three months ended March 31, 2016 and 2015 . The Company's rental and other property income for the three months ended March 31, 2016 and 2015 is comprised of the following: Three Months Ended March 31, 2016 2015 Rental revenue $ 3,016,445 $ 1,601,775 Straight-line revenue 136,408 120,068 Above- and below-market lease amortization 86,046 93,374 Rental and other property income $ 3,238,899 $ 1,815,217

MARKETABLE SECURITIES

MARKETABLE SECURITIES	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIES The following is a summary of the Company's marketable securities held as of March 31, 2016 and December 31, 2015 , which consisted entirely of publicly-traded shares of common stock in REITs as of each date. All marketable securities held as of March 31, 2016 and December 31, 2015 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. March 31, 2016 December 31, 2015 Marketable securities—cost $ 8,026,825 $ 7,873,564 Unrealized gains 1,126,365 827,989 Unrealized losses (56,680 ) (132,549 ) Net unrealized gain 1,069,685 695,440 Marketable securities—fair value $ 9,096,510 $ 8,569,004 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 three months ended March 31, 2016 and 2015 , marketable securities sold generated proceeds of $3,122,818 and $2,617,099 , respectively, resulting in gross realized gains of $122,649 and $205,972 , respectively, and gross realized losses of $217,594 and $26,668 , respectively.

LINE OF CREDIT

LINE OF CREDIT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
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. 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, currently 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. On March 6, 2015, the Company refinanced its Regions Line of Credit with a new secured line of credit from Wells Fargo Bank, National Association (the "Wells Fargo Line of Credit") (described below). In connection therewith, the Company borrowed $43,426,851 from the Wells Fargo Line of Credit 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 . As of March 6, 2015, the outstanding balance and average interest rate were $42,400,000 and 2.66% , respectively. Wells Fargo Line of Credit On March 6, 2015, the Company borrowed $43,426,851 which was used to fully repay and retire the Regions Line of Credit. 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 March 31, 2016 and December 31, 2015 , the outstanding balance was $53,200,000 and $72,500,000 , respectively, and the weighted average interest rate was 2.14% , and 2.05% , respectively. The Wells Fargo Line of Credit has as co-borrowers certain of the wholly-owned subsidiaries of the Operating Partnership, with the Company serving as the guarantor. 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 March 31, 2016 and December 31, 2015 , the Company's maximum borrowing capacity was $63,130,609 and $75,000,000 , respectively. 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. The Company was in compliance with all covenants as of March 31, 2016 and December 31, 2015 . Nationwide Life Insurance Loan On March 1, 2016, RPT Flats at Carrs Hill, LLC, a wholly-owned subsidiary of the Operating Partnership, entered into a credit agreement with Nationwide Life Insurance Company (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 is a secured, fully non-recourse loan with a term of ten years with no extension options. The Nationwide Loan carries a fixed interest rate of 3.63% and requires monthly interest-only payments of $43,862 during the entire term. The following is a reconciliation of the carrying amount of the of the line of credit and mortgage loan payable as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Line of credit $ 53,200,000 $ 72,500,000 Deduct: Deferred financing costs, less accumulated amortization (633,638 ) (715,544 ) Line of credit, net of unamortized deferred financing costs $ 52,566,362 $ 71,784,456 Mortgage loan payable $ 14,500,000 $ — Deduct: Deferred financing costs, less accumulated amortization (158,171 ) — Mortgage loan payable, net of unamortized deferred financing costs $ 14,341,829 $ —

RELATED PARTY ARRANGEMENTS

RELATED PARTY ARRANGEMENTS	3 Months Ended
	Mar. 31, 2016
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 has 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 NAV for each class of shares for such day; provided, however, that the fixed component was not earned and, therefore, did not begin to accrue until the date on which the Company's combined NAV for both classes of shares had 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 declared to such class plus the change in the NAV per share for such class. The performance component is calculated for each calendar year, or, if a class of shares was outstanding for less than a full calendar year, then the performance component for such class is calculated for the period that such class had shares outstanding. For any period of calculation in which the total return per share allocable to a class exceeds 6% per annum (which is prorated for periods of less than a full calendar year), 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 three months ended March 31, 2016 and 2015 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 this date, no fixed component of the advisory fee was earned by RREEF America. The actual performance component earned by RREEF America during the year ended December 31, 2016, if any, is dependent on several factors, including but not limited to the performance of the Company's investments and interest rates. Three Months Ended March 31, 2016 2015 Fixed component $ 205,937 $ 101,844 Performance component — 43,624 $ 205,937 $ 145,468 Subsequent to March 31, 2015 , RREEF America waived the performance component of the advisory fee earned for the year ended December 31, 2015 . No performance fee was earned for the three months ended March 31, 2016 . Expense Reimbursements Under the Advisory Agreement, RREEF America is entitled to reimbursement of certain costs incurred by RREEF America or its affiliates that were not incurred under the Expense Support Agreement, as described below. Costs eligible for reimbursement, if they are not incurred under the Expense Support Agreement, include most third-party operating expenses, salaries and related costs of RREEF America's 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 the advisor's 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 three months ended March 31, 2016 and 2015 , RREEF America incurred $77,461 and $22,242 reimbursable operating expenses, respectively, that were subject to the terms and conditions of the Advisory Agreement. As of March 31, 2016 and December 31, 2015 , the Company had payable to RREEF America $77,461 and zero , 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 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 pro rata basis over 60 months beginning in January 2014. However, if the Advisory Agreement is terminated by RREEF America, then the unpaid balance of the Deferred O&O is payable to RREEF America within 30 days. For the three months ended March 31, 2016 and 2015 , the Company reimbursed RREEF America $230,157 and $227,627 , respectively. Also see Note 14 - Subsequent Events. The amount of Deferred O&O payable to RREEF America is as follows. March 31, 2016 December 31, 2015 Total Deferred O&O $ 4,618,318 $ 4,618,318 Reimbursements made to RREEF America (2,071,414 ) (1,841,257 ) Deferred O&O reimbursable to RREEF America $ 2,546,904 $ 2,777,061 Expense Support Agreement Pursuant to the terms of the expense support agreement as most recently amended on January 20, 2016 (the "Expense Support Agreement"), 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 $200,000,000 in aggregate gross proceeds from the Offerings or (ii) the date upon which the aggregate Expense Payments by RREEF America exceed $9,200,000 . Through December 31, 2015 , the Company had incurred a total of $9,200,000 in Expense Payments in addition to the $4,618,318 of Deferred O&O noted above. As of December 31, 2015 , the balance of $9,200,000 in Expense Payments consisted of $3,970,819 in organization and offering costs and $5,229,181 in operating expenses. As the maximum amount of Expense Payments has been reached, the Company is no longer eligible to receive Expense Payments from RREEF America. In addition, under 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 (1) the quarter in which the Company surpasses $200,000,000 in aggregate gross proceeds from the Offering or (2) the date upon which the aggregate Expense Payments by RREEF America exceed $9,200,000 . Pursuant to this provisions, reimbursement of the Expense Payments was triggered in January 2016, for which the Company will reimburse RREEF America $250,000 per quarter (the "Quarterly Reimbursement"). The Quarterly Reimbursements are scheduled to continue until RREEF America is fully repaid for all Expense Payments. In accordance with the reimbursement schedule, the Company's obligation to reimburse RREEF America represents a non-interest bearing note due to RREEF America ("Note to Affiliate") which is subject to the imputation of interest. In accordance therewith, as of January 1, 2016, the Company has recorded a discount on the Note to Affiliate equal to the difference between the $9,200,000 face amount and the present value of the contractual reimbursements using an estimated market interest rate of 5.0% . The Company estimated the market interest rate based on how an independent market participant would evaluate the note in addition to considering other financing options available to the Company. The amount of the Quarterly Reimbursement is subject to adjustment in amount or timing as described in the Expense Support Agreement. However, the provisions altering the amount or timing of the Quarterly Reimbursement are contingent on future events not within the Company's control and which cannot be reasonably estimated. Accordingly, these contingencies were not considered in determining the present value of the Note to Affiliate as of January 1, 2016. As of January 1, 2016, the Company recorded a discount on the Note to Affiliate in the amount of $1,861,880 which will be amortized to interest expense over the contractual reimbursement period using the effective interest method. For the three months ended March 31, 2016 , the Company made one Quarterly Reimbursement of $250,000 to RREEF America and amortized $91,726 of the discount into interest expense. Also see Note 14 - Subsequent Events. Reimbursement Limitations Organization and Offering Costs The Company will not reimburse RREEF America under the Advisory Agreement or the Expense Support Agreement 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 Public Offering. Further, the Company will not reimburse RREEF America or the Dealer Manager for any underwriting compensation (a subset of organization and offering costs) which would cause the Company's total underwriting compensation to exceed 10% of the gross proceeds from the primary portion of the Public Offering. Through March 31, 2016 , the Company has raised $93,058,740 in the Public Offering. A summary of the Company's total organization and offering costs for the Public Offering is shown below. Deferred O&O - RREEF America Expense Payments - O&O Portion (1) 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, 2015 $ 4,618,318 $ 3,970,819 $ 2,598,819 $ 11,187,956 $ — $ 11,187,956 Additions — — 1,162,732 1,162,732 — 1,162,732 Balance, March 31, 2016 $ 4,618,318 $ 3,970,819 $ 3,761,551 $ 12,350,688 $ — $ 12,350,688 (1) Includes $195,449 of prepaid costs as of March 31, 2016. 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 March 31, 2016 , total operating expenses of the Company were $2,589,130 which exceeded the 2% / 25% Guidelines by $242,607 . On May 5, 2016, the Company’s independent directors determined that the Excess Amount of total operating expenses for the four quarters ended March 31, 2016 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 five to seven properties during the four fiscal quarters ended March 31, 2016 . The portion of the Excess Amount approved by the Company’s independent directors that was incurred by RREEF America will be eligible for reimbursement to RREEF America in the future. Due to Affiliate In accordance with all the above, as of March 31, 2016 and December 31, 2015 , the Company owed RREEF America for the following amounts: March 31, 2016 December 31, 2015 Deferred O&O $ 2,546,904 $ 2,777,061 Expense Payments — 9,200,000 Reimbursable under the advisory agreement 77,461 — Advisory fees 72,152 64,671 Due to affiliate $ 2,696,517 $ 12,041,732 Note to Affiliate $ 8,950,000 Unamortized discount (1,770,154 ) Note to Affiliate, net of unamortized discount $ 7,179,846

CAPITALIZATION

CAPITALIZATION	3 Months Ended
	Mar. 31, 2016
Capitalization [Abstract]
CAPITALIZATION	CAPITALIZATION Under the Company's charter, as most recently amended on January 27, 2016, the Company has the authority to issue 1,000,000,000 shares of common stock and 50,000,000 shares of preferred stock. All shares of such stock have a par value of $0.01 per share. The Company's authorized shares of common stock are allocated between classes as follows: Common Stock No. of Authorized Shares Class A shares 200,000,000 Class I shares 200,000,000 Class T shares 250,000,000 Class D shares 50,000,000 Class N shares 300,000,000 1,000,000,000 Class A shares are subject to selling commissions of up to 3% of the purchase price, and dealer manager fees of 0.55% and distribution fees of 0.50% , both paid on a trailing basis. Class I shares are subject to dealer manager fees of 0.55 %, but are not subject to any selling commissions or distribution fees. Class T shares are subject to selling commissions of up to 3% of the purchase price, an up-front dealer manager fee of 2.75% , and distribution fees of 1.0% paid on a trailing basis for approximately four years. Class D shares sold in the Private Offering are subject to selling commissions of up to 1.0% of the purchase price, but do not incur any dealer manager or distribution fees. Class N shares are not sold in the primary Public Offering, but will be issued upon conversion of an investor's Class T shares once the investor's Class T share account has incurred a maximum of 10% of commissions, dealer manager fees and 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. 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. Distribution Reinvestment Plan The Company has adopted a distribution reinvestment plan that allows 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. As a result of the redemption activity during the first quarter of 2016, the quarterly volume limitation on redemptions was reached on March 18, 2016. Normal redemptions resumed effective April 1, 2016 in accordance with our redemption program as described in our prospectus. During the three months ended March 31, 2016 and 2015 , redemption requests were received as shown below. The Company funded these redemptions with cash flow from operations, proceeds from our Public Offering 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. Three Months Ended March 31, 2016 Shares Weighted Average Share Price Amount Class A 457,246 $ 12.87 $ 5,885,610 Class I 20,630 13.07 269,604 Class T — — — Three Months Ended March 31, 2015 Shares Weighted Average Share Price Amount Class A — $ — $ — Class I 2,859 12.91 36,916 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 Offerings and 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	3 Months Ended
	Mar. 31, 2016
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 business 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 the three months ended March 31, 2016 and 2015 . March 31, 2016 March 31, 2015 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00179534 $ 0.00175668 Distributions paid or payable in cash $ 633,913 $ 294,197 Distributions reinvested 407,009 358,056 Distributions declared $ 1,040,922 $ 652,253 Class A shares issued upon reinvestment 18,860 11,126 Class I shares issued upon reinvestment 12,476 16,669 Class T shares issued upon reinvestment — —

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company believes that it has operated in such a manner to qualify to be taxed as a REIT for federal income tax purposes beginning with the taxable year ended December 31, 2013, when it first elected REIT status. 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 that constitute a return of capital generally are non-taxable and will reduce the stockholder's basis in the shares. The characterization of the distributions is generally determined during the month of January following the close of the tax year.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION For the three months ended March 31, 2016 and 2015 , 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 March 31, 2016 and December 31, 2015 and net loss for the three months ended March 31, 2016 and 2015 . Real Estate Properties Real Estate Equity Securities Total Carrying value as of March 31, 2016 $ 132,905,049 $ 9,096,510 $ 142,001,559 Reconciliation to total assets of March 31, 2016 Carrying value per reportable segments $ 142,001,559 Corporate level assets 4,376,614 Total assets $ 146,378,173 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 Three Months Ended March 31, 2016 Real Estate Properties Real Estate Equity Securities Total Revenues Rental and other property income $ 3,238,899 $ — $ 3,238,899 Tenant reimbursement income 355,396 — 355,396 Investment income on marketable securities — 190,516 190,516 Total revenues 3,594,295 190,516 3,784,811 Operating expenses Property operating expenses 1,373,671 — 1,373,671 Total segment operating expenses 1,373,671 — 1,373,671 Operating income - segments $ 2,220,624 $ 190,516 $ 2,411,140 Three Months Ending March 31, 2015 Revenues Rental and other property income $ 1,815,217 $ — $ 1,815,217 Tenant reimbursement income 235,016 — 235,016 Investment income on marketable securities — 47,045 47,045 Total revenues 2,050,233 47,045 2,097,278 Operating expenses Property operating expenses 420,703 — 420,703 Total segment operating expenses 420,703 — 420,703 Operating income - Segments $ 1,629,530 $ 47,045 $ 1,676,575 Three Months Ended March 31 Reconciliation to net loss 2016 2015 Operating income - segments $ 2,411,140 $ 1,676,575 General and administrative expenses (588,476 ) (663,828 ) Advisory expenses (205,937 ) (145,468 ) Depreciation (909,020 ) (484,528 ) Amortization (1,456,937 ) (512,942 ) Operating loss (749,230 ) (130,191 ) Interest expense (565,707 ) (462,448 ) Net realized gain (loss) upon sale of marketable securities (94,945 ) 179,304 Net loss $ (1,409,882 ) $ (413,335 )

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	3 Months Ended
	Mar. 31, 2016
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	3 Months Ended
	Mar. 31, 2016
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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 1, 2016, the Company announced that its board of directors declared a cash distribution equal to $0.00177203 per Class A, Class I and Class T share (before adjustment for applicable class-specific expenses) for all such shares of record on each day from April 1, 2016 through June 30, 2016. On April 25, 2016, the Company and RREEF America entered into a letter agreement that amended certain provisions of the Advisory Agreement and the Expense Support Agreement (the "Letter Agreement"). The Letter Agreement provides, in part, that the Company's obligations to reimburse RREEF America for Expense Payments under the Expense Support Agreement are suspended until the first calendar month following the month in which the Company has reached $500 million in offering proceeds from the Offerings (the "ESA Commencement Date"). The Company currently owes $8,950,000 to RREEF America under the Expense Support Agreement. Beginning the month following the ESA Commencement Date, the Company will make monthly reimbursement payments to RREEF America in the amount of $416,667 for the first 12 months and $ 329,166 for the second 12 months, subject to monthly reimbursement payment limitations described in the Letter Agreement. In addition, pursuant to the Letter Agreement, if RREEF America is serving as the Company's advisor at the time that the Company or the Operating Partnership undertakes a liquidation, the Company's remaining obligations to reimburse RREEF America for the unpaid Deferred O&O under the Advisory Agreement and the unpaid monthly reimbursements under the Expense Support Agreement shall be waived.

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and with Rule 10-01 of Regulation S-X for interim financial statements. Accordingly, these consolidated financial statements do not include all the information and footnotes required by GAAP for complete consolidated financial statements. In the opinion of the Company's management, the accompanying consolidated financial statements include all adjustments and eliminations, consisting only of normal recurring items necessary for their fair presentation in conformity with GAAP. Interim results are not necessarily indicative of operating results for a full year. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with our audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. There have been no significant changes to Company's critical accounting policies during the three months ended March 31, 2016 .
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.
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 Offerings, preparing for the Offerings, the qualification and registration of the Offerings 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 Public 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 paid from the proceeds of the Offerings. These costs will be treated as a reduction of the total proceeds. Total organization and offering costs incurred by the Company in relation to the Public Offering will not exceed 15% of the gross proceeds from the Public Offering.
Concentration of Credit Risk	Concentration of Credit Risk As of March 31, 2016 and 2015 , 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 March 31, 2016 , the Company owned six commercial properties with fourteen tenants and one student housing property with 316 beds. As of March 31, 2015 , the Company owned five commercial properties with thirteen 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 three months ended March 31, 2016 and 2015 are shown below. Percent of actual gross rental revenues Property Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Loudoun Gateway, Sterling VA 23.6 % — % Flats at Carrs Hills, Athens GA 20.2 % — % Anaheim Hills Office Plaza, Anaheim CA 14.9 % 24.2 % Commerce Corner, Logan Township, NJ 12.8 % 20.8 % Terra Nova Plaza, Chula Vista, CA 1 11.5 % 26.6 % Heritage Parkway, Woodridge, IL 9.1 % 15.3 % Wallingford Plaza, Seattle, WA 7.9 % 13.1 % Total 100.0 % 100.0 % Percent of actual gross rental revenues Tenant Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Orbital ATK Inc. - Loudoun Gateway 23.6 % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 10.1 % 16.5 % Allstate Insurance Company - Heritage Parkway 9.1 % 15.3 % Bed, Bath & Beyond - Terra Nova Plaza 8.2 % 13.2 % Performance Food Group, Inc. - Commerce Corner 7.8 % 12.5 % The Sports Authority, Inc - Terra Nova Plaza 1 3.3 % 13.4 % Total 62.1 % 70.9 % The Company's tenants representing more than 10% of in-place annualized base rental revenues as of March 31, 2016 and 2015 were as follows: Percent of in-place annualized base rental revenues as of Tenant March 31, 2016 March 31, 2015 Orbital ATK Inc. - Loudoun Gateway 22.0 % — % Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 11.1 % 19.2 % Allstate Insurance Company - Heritage Parkway 10.3 % 18.6 % Performance Food Group, Inc. - Commerce Corner 6.8 % 12.5 % The Sports Authority, Inc. - Terra Nova Plaza 1 6.3 % 11.8 % Total 56.5 % 62.1 %

REAL ESTATE INVESTMENTS (Tables

REAL ESTATE INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Schedule of Rental and Other Property Income	The Company's rental and other property income for the three months ended March 31, 2016 and 2015 is comprised of the following: Three Months Ended March 31, 2016 2015 Rental revenue $ 3,016,445 $ 1,601,775 Straight-line revenue 136,408 120,068 Above- and below-market lease amortization 86,046 93,374 Rental and other property income $ 3,238,899 $ 1,815,217

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	The following is a summary of the Company's marketable securities held as of March 31, 2016 and December 31, 2015 , which consisted entirely of publicly-traded shares of common stock in REITs as of each date. All marketable securities held as of March 31, 2016 and December 31, 2015 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. March 31, 2016 December 31, 2015 Marketable securities—cost $ 8,026,825 $ 7,873,564 Unrealized gains 1,126,365 827,989 Unrealized losses (56,680 ) (132,549 ) Net unrealized gain 1,069,685 695,440 Marketable securities—fair value $ 9,096,510 $ 8,569,004

LINE OF CREDIT LINE OF CREDIT (

LINE OF CREDIT LINE OF CREDIT (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities [Table Text Block]	The following is a reconciliation of the carrying amount of the of the line of credit and mortgage loan payable as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Line of credit $ 53,200,000 $ 72,500,000 Deduct: Deferred financing costs, less accumulated amortization (633,638 ) (715,544 ) Line of credit, net of unamortized deferred financing costs $ 52,566,362 $ 71,784,456 Mortgage loan payable $ 14,500,000 $ — Deduct: Deferred financing costs, less accumulated amortization (158,171 ) — Mortgage loan payable, net of unamortized deferred financing costs $ 14,341,829 $ —

RELATED PARTY ARRANGEMENTS (Tab

RELATED PARTY ARRANGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	In accordance with all the above, as of March 31, 2016 and December 31, 2015 , the Company owed RREEF America for the following amounts: March 31, 2016 December 31, 2015 Deferred O&O $ 2,546,904 $ 2,777,061 Expense Payments — 9,200,000 Reimbursable under the advisory agreement 77,461 — Advisory fees 72,152 64,671 Due to affiliate $ 2,696,517 $ 12,041,732 Note to Affiliate $ 8,950,000 Unamortized discount (1,770,154 ) Note to Affiliate, net of unamortized discount $ 7,179,846 A summary of the Company's total organization and offering costs for the Public Offering is shown below. Deferred O&O - RREEF America Expense Payments - O&O Portion (1) 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, 2015 $ 4,618,318 $ 3,970,819 $ 2,598,819 $ 11,187,956 $ — $ 11,187,956 Additions — — 1,162,732 1,162,732 — 1,162,732 Balance, March 31, 2016 $ 4,618,318 $ 3,970,819 $ 3,761,551 $ 12,350,688 $ — $ 12,350,688 (1) Includes $195,449 of prepaid costs as of March 31, 2016. The amount of Deferred O&O payable to RREEF America is as follows. March 31, 2016 December 31, 2015 Total Deferred O&O $ 4,618,318 $ 4,618,318 Reimbursements made to RREEF America (2,071,414 ) (1,841,257 ) Deferred O&O reimbursable to RREEF America $ 2,546,904 $ 2,777,061 The fees earned by RREEF America for the three months ended March 31, 2016 and 2015 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 this date, no fixed component of the advisory fee was earned by RREEF America. The actual performance component earned by RREEF America during the year ended December 31, 2016, if any, is dependent on several factors, including but not limited to the performance of the Company's investments and interest rates. Three Months Ended March 31, 2016 2015 Fixed component $ 205,937 $ 101,844 Performance component — 43,624 $ 205,937 $ 145,468

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	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 March 31, 2016 and December 31, 2015 and net loss for the three months ended March 31, 2016 and 2015 . Real Estate Properties Real Estate Equity Securities Total Carrying value as of March 31, 2016 $ 132,905,049 $ 9,096,510 $ 142,001,559 Reconciliation to total assets of March 31, 2016 Carrying value per reportable segments $ 142,001,559 Corporate level assets 4,376,614 Total assets $ 146,378,173 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 Three Months Ended March 31, 2016 Real Estate Properties Real Estate Equity Securities Total Revenues Rental and other property income $ 3,238,899 $ — $ 3,238,899 Tenant reimbursement income 355,396 — 355,396 Investment income on marketable securities — 190,516 190,516 Total revenues 3,594,295 190,516 3,784,811 Operating expenses Property operating expenses 1,373,671 — 1,373,671 Total segment operating expenses 1,373,671 — 1,373,671 Operating income - segments $ 2,220,624 $ 190,516 $ 2,411,140 Three Months Ending March 31, 2015 Revenues Rental and other property income $ 1,815,217 $ — $ 1,815,217 Tenant reimbursement income 235,016 — 235,016 Investment income on marketable securities — 47,045 47,045 Total revenues 2,050,233 47,045 2,097,278 Operating expenses Property operating expenses 420,703 — 420,703 Total segment operating expenses 420,703 — 420,703 Operating income - Segments $ 1,629,530 $ 47,045 $ 1,676,575 Three Months Ended March 31 Reconciliation to net loss 2016 2015 Operating income - segments $ 2,411,140 $ 1,676,575 General and administrative expenses (588,476 ) (663,828 ) Advisory expenses (205,937 ) (145,468 ) Depreciation (909,020 ) (484,528 ) Amortization (1,456,937 ) (512,942 ) Operating loss (749,230 ) (130,191 ) Interest expense (565,707 ) (462,448 ) Net realized gain (loss) upon sale of marketable securities (94,945 ) 179,304 Net loss $ (1,409,882 ) $ (413,335 )

ORGANIZATION (Details)

ORGANIZATION (Details)	May. 31, 2013USD ($)	Feb. 14, 2012USD ($)shares	Mar. 31, 2016USD ($)class_of_stock$ / sharesshares	Mar. 31, 2015USD ($)	Jan. 27, 2016$ / sharesshares	Jan. 20, 2016USD ($)	Jan. 15, 2016$ / shares	Dec. 31, 2015$ / sharesshares	Feb. 07, 2012USD ($)
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common Stock, Shares Authorized					1,000,000,000
Issuance of common stock, value | $	$ 10,000,000		$ 11,854,962	$ 10,555,137
Common stock, par value (in usd per share) | $ / shares					$ 0.01
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 America [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds			10.00%
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 A [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common Stock, Shares Authorized			200,000,000		200,000,000
Common stock, par value (in usd per share) | $ / shares			$ 0.01					$ 0.01
Common Class B [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Issuance of common stock, shares		16,667
Issuance of common stock, value | $		$ 200,000
Common Class I [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common Stock, Shares Authorized			200,000,000		200,000,000
Common stock, par value (in usd per share) | $ / shares			$ 0.01					$ 0.01
Common Class D [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common Stock, Shares Authorized			50,000,000		50,000,000			0
Common stock, par value (in usd per share) | $ / shares			$ 0.01				$ 0.01	$ 0.01
Value of shares offered pursuant to registration statement | $						$ 350,000,000
Common Class T [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common Stock, Shares Authorized			250,000,000		250,000,000			0
Issuance of common stock, shares			4,043
Common stock, par value (in usd per share) | $ / shares			$ 0.01		$ 0.01			$ 0.01
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds			10.00%		10.00%
Common Class N [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common Stock, Shares Authorized			300,000,000		300,000,000			0
Common stock, par value (in usd per share) | $ / shares			$ 0.01		$ 0.01			$ 0.01

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		23 Months Ended
	Mar. 31, 2016USD ($)Propertytenant	Mar. 31, 2015USD ($)Propertytenant	Jan. 03, 2014USD ($)	Mar. 02, 2016store	Dec. 31, 2015USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reimbursement period	60 months
Percentage of taxable income required for REIT distribution	90.00%
Concentration of revenue, geographic area and property type	10.00%
Straight line rent	$ 136,408	$ 120,068
Document Period End Date	Mar. 31, 2016
Allowance for Doubtful Accounts Receivable	$ 341,109				$ 0
RREEF America [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Offering costs incurred			$ 4,618,318
Maximum offering costs as percentage of gross proceeds from initial public offering	15.00%
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds	10.00%
Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property	5
Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property	7
The Sports Authority Inc. [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for Doubtful Accounts Receivable	$ 163,277
Deferred Rent Receivables, Net	$ 173,730
Number Store, Planned Closed | store				140
Number of Stores | store				463
Sales Revenue, Gross [Member] | Property | Loudoun Gateway [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	23.60%	0.00%
Sales Revenue, Gross [Member] | Property | Commerce Corner member [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	12.80%	20.80%
Sales Revenue, Gross [Member] | Property | Terra Nova Plaza [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	11.50%	26.60%
Sales Revenue, Gross [Member] | Property | Anaheim Hills Office Plaza [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	14.90%	24.20%
Sales Revenue, Gross [Member] | Property | Flats at Carrs Hill [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	20.20%	0.00%
Gross Rental Revenues [Member] | Property
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	100.00%	100.00%
Gross Rental Revenues [Member] | Property | Wallingford Plaza [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	7.90%	13.10%
Gross Rental Revenues [Member] | Property | Nine Zero Two Two Heritage Parkway [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	9.10%	15.30%
Gross Rental Revenues [Member] | Tenant
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	62.10%	70.90%
Gross Rental Revenues [Member] | Tenant | orbital [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	23.60%	0.00%
Gross Rental Revenues [Member] | Tenant | Bed, Bath & Beyond [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	8.20%	13.20%
Gross Rental Revenues [Member] | Tenant | Allstate Insurance Company [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	9.10%	15.30%
Gross Rental Revenues [Member] | Tenant | performance food [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	7.80%	12.50%
Gross Rental Revenues [Member] | Tenant | Gateway One Lending and Finance, L.L.C [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	10.10%	16.50%
Gross Rental Revenues [Member] | Tenant | The Sports Authority Inc. [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	3.30%	13.40%
Annualized Base Rental Revenues [Member] | Tenant
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	56.50%	62.10%
Annualized Base Rental Revenues [Member] | Tenant | orbital [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	22.00%	0.00%
Annualized Base Rental Revenues [Member] | Tenant | Allstate Insurance Company [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	10.30%	18.60%
Annualized Base Rental Revenues [Member] | Tenant | performance food [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	6.80%	12.50%
Annualized Base Rental Revenues [Member] | Tenant | Gateway One Lending and Finance, L.L.C [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	11.10%	19.20%
Annualized Base Rental Revenues [Member] | Tenant | The Sports Authority Inc. [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	6.30%	11.80%
Commercial Real Estate [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property	6	5
Number of Tenants | tenant	14	13
Multifamily [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property	1
Number of Tenants | tenant	316

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 06, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note to affiliate, net of unamortized discount of $1,770,154	$ 7,179,846	$ 0
Document Period End Date	Mar. 31, 2016
Wells Fargo Bank [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit	$ 53,200,000	$ 72,500,000	$ 43,426,851

REAL ESTATE INVESTMENTS REAL ES

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS - Rental income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Real Estate [Abstract]
Rental revenue	$ 3,016,445	$ 1,601,775
Straight line rent	136,408	120,068
Above- and below-market lease amortization	86,046	93,374
Rental and other property income	$ 3,238,899	$ 1,815,217

REAL ESTATE INVESTMENTS - Pro F

REAL ESTATE INVESTMENTS - Pro Forma (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues	$ 3,784,811	$ 2,097,278
Net loss	$ (1,409,882)	$ (413,335)

REAL ESTATE INVESTMENTS - Narra

REAL ESTATE INVESTMENTS - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Proceeds from line of credit	$ 2,700,000	$ 43,426,851

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Marketable securities—cost	$ 8,026,825		$ 7,873,564
Unrealized gains	1,126,365		827,989
Unrealized losses	(56,680)		(132,549)
Accumulated other comprehensive income	1,069,685		695,440
Investment in marketable securities	9,096,510		$ 8,569,004
Proceeds from sale of marketable securities	3,122,818	$ 2,617,099
Gross realized gains from sale of marketable securities	122,649	205,972
Gross realized losses from sale of marketable securities	$ 217,594	$ 26,668

LINE OF CREDIT (Details)

LINE OF CREDIT (Details)	Mar. 06, 2015USD ($)	Mar. 05, 2015USD ($)	May. 01, 2013USD ($)	Mar. 31, 2016USD ($)Property	Mar. 31, 2016USD ($)Property	Mar. 31, 2015USD ($)	Mar. 01, 2016USD ($)	Dec. 31, 2015USD ($)	May. 08, 2014USD ($)	May. 29, 2013USD ($)
Line of Credit Facility [Line Items]
Amortization of deferred financing costs					$ 83,235	$ 180,002
Percentage of Property Value	65.00%
Percentage of Minimum Debt Yield	11.00%
Proceeds from Common Stock Issuance, Inception to Date				$ 93,058,740	93,058,740				$ 200,000,000	$ 200,000,000
Deduct: Deferred financing costs, less accumulated amortization				(633,638)	(633,638)			$ (715,544)
Line of credit, net of unamortized deferred financing costs				52,566,362	52,566,362			71,784,456
Deferred financing costs, less accumulated amortization				158,171	158,171			0
Interest Expense				$ 43,862	$ 565,707	$ 462,448
Minimum [Member]
Line of Credit Facility [Line Items]
Number of real estate properties owned | Property				5	5
Maximum [Member]
Line of Credit Facility [Line Items]
Number of real estate properties owned | Property				7	7
Mortgages [Member]
Line of Credit Facility [Line Items]
Long-term Debt				$ 14,341,829	$ 14,341,829		$ 14,500,000	0
Long-term Debt, Gross				14,500,000	14,500,000			0
Deferred financing costs, less accumulated amortization				158,171	158,171			0
Wells Fargo Bank [Member]
Line of Credit Facility [Line Items]
Line of credit	$ 43,426,851			53,200,000	53,200,000			72,500,000
Line of Credit Term	3 years
Line of credit, current borrowing capacity	$ 75,000,000			$ 63,130,609	$ 63,130,609			$ 75,000,000
Line of credit, interest rate at period end				2.14%	2.14%			2.05%
Line of Credit Facility, Maximum Borrowing Capacity				$ 150,000,000	$ 150,000,000
Line of Credit Facility, Expansion Feature, Increase Limit				25,000,000	25,000,000
Deduct: Deferred financing costs, less accumulated amortization				(633,638)	(633,638)			$ (715,544)
Line of credit, net of unamortized deferred financing costs				$ 52,566,362	$ 52,566,362			$ 71,784,456
Wells Fargo Bank [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Number of real estate properties owned | Property				5	5
Wells Fargo Bank [Member] | Minimum [Member] | 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 [Member] | 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	$ 42,400,000
Amortization of deferred financing costs		$ 82,762
Line of credit, current borrowing capacity			$ 50,000,000
Line of credit, interest rate at period end	2.66%
Regions Bank [Member] | Minimum [Member] | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.20%
Regions Bank [Member] | Maximum [Member] | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.50%
Nationwide Bank [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Line of Credit Term				10 years
Debt Instrument, Interest Rate, Stated Percentage							3.63%
RREEF America [Member]
Line of Credit Facility [Line Items]
Maximum offering costs as percentage of gross proceeds from initial public offering				15.00%	15.00%

RELATED PARTY ARRANGEMENTS - Na

RELATED PARTY ARRANGEMENTS - Narrative (Details)	3 Months Ended		12 Months Ended	23 Months Ended
	Mar. 31, 2016USD ($)Property$ / shares	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)Property$ / shares	Jan. 03, 2014USD ($)	Dec. 31, 2015USD ($)	May. 08, 2014USD ($)	May. 29, 2013USD ($)
Related Party Transaction [Line Items]
Term of Agreements	1 year
Number of components, Advisory Fees	2		2
Reimbursement period	60 months
Due to affiliate	$ 93,058,740		$ 93,058,740			$ 200,000,000	$ 200,000,000
Expense Payments						$ 9,200,000
Due to related party, expenses, quarterly repayment commitment	250,000		250,000				$ 250,000
Four fiscal quarter total operating expense			2,589,130
Total operating expense exceed 2%/25% guideline			242,607
Deferred O&O	4,618,318		$ 4,618,318		$ 4,618,318
Increase (Decrease) in Prepaid Expense	$ (42,102)	$ 349,682
RREEF America [Member]
Related Party Transaction [Line Items]
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%
Combined Net Asset Value, Common Stock, At Which Advisory Fee will Begin Accrual	$ 50,000,000		$ 50,000,000
Performance fee to advisor, percentage return per share threshold	6.00%		6.00%
Performance fee to advisor as percent of excess total return	25.00%		25.00%
Performance fee to advisor, limit as percent of excess total return	10.00%		10.00%
Performance fee to advisor, net asset value per share, threshold to which no fee earned on increase | $ / shares	$ 12		$ 12
Reimbursements to related parties during the period	$ (77,461)	(22,242)
Reimbursable under the advisory agreement	77,461		$ 77,461		0
Offering costs incurred				$ 4,618,318
Expense Payments	$ 0		$ 0		9,200,000
Expenses to advisor not reimbursable, percentage of invested assets threshold exceeded by operating expenses	2.00%		2.00%
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds	10.00%		10.00%
Maximum offering costs as percentage of gross proceeds from initial public offering	15.00%		15.00%
Expenses to advisor not reimbursable, percentage of net income excluding certain reductions threshold exceeded by operating expenses	25.00%		25.00%
Organization and offering costs
Related Party Transaction [Line Items]
Reimbursements to related parties during the period	$ (230,157)	$ (227,627)
Organization and offering costs | RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments	3,970,819		$ 3,970,819		3,970,819
Deferred O&O	4,618,318		$ 4,618,318		$ 4,618,318
Expense Payments	0
Increase (Decrease) in Prepaid Expense	$ 195,449
Minimum [Member]
Related Party Transaction [Line Items]
Number of Real Estate Properties | Property	5		5
Maximum [Member]
Related Party Transaction [Line Items]
Number of Real Estate Properties | Property	7		7

RELATED PARTY ARRANGEMENTS Fees

RELATED PARTY ARRANGEMENTS Fees (Details) - RREEF America [Member] - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Related Party Transaction [Line Items]
Fixed component	$ 205,937	$ 101,844
Performance component	0	43,624
Fees	$ 205,937	$ 145,468

RELATED PARTY ARRANGEMENTS Expe

RELATED PARTY ARRANGEMENTS Expense Support Agreement (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jan. 01, 2016	Dec. 31, 2015	May. 29, 2013
Related Party Transaction [Line Items]
Related Party Transaction Maximum Expense Support, Discount Rate	$ 0.1
Note payable, Related Party, Discount, Amount			$ 1,861,880
Document Period End Date	Mar. 31, 2016
Deferred O&O	$ 4,618,318			$ 4,618,318
Due to related party, expenses, quarterly repayment commitment	250,000				$ 250,000
Expense Payments [Roll Forward]
Related Party Transaction, Amount in Excess of Limitation	0			0
Organization and offering costs
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursements (To) From Related Parties During the Period	230,157	$ 227,627
Expense Payments [Roll Forward]
Related Party Transaction, Reimbursements (To) From Related Parties	(2,071,414)			(1,841,257)
RREEF America [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursements (To) From Related Parties During the Period	77,461	$ 22,242
Expense Payments [Roll Forward]
Expense Payments, beginning balance	9,200,000
Expense Payments, ending balance	0
Reimbursable under the advisory agreement	77,461			0
RREEF America [Member] | Organization and offering costs
Related Party Transaction [Line Items]
Deferred O&O	4,618,318			4,618,318
Expense Payments [Roll Forward]
Expense Payments, beginning balance	3,970,819
Expense Payments, Additions	0
Expense Payments, ending balance	3,970,819
Deferred Reimbursement Cost to Advisor	2,546,904			$ 2,777,061
RREEF America [Member] | Operating expenses
Expense Payments [Roll Forward]
Expense Payments, beginning balance	$ 5,229,181

RELATED PARTY ARRANGEMENTS Orga

RELATED PARTY ARRANGEMENTS Organization and Offering Costs (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015	May. 08, 2014	May. 29, 2013
Related Party Transaction [Line Items]
Four fiscal quarter total operating expense			$ 2,589,130
Deferred O&O	$ 4,618,318		4,618,318	$ 4,618,318
Expense Payments					$ 9,200,000
Other organization and offering costs	3,761,551		3,761,551	2,598,819
Costs not subject to reimbursement by RREEF America, Additions	1,162,732
Amount in excess of 15% limitation	0		0	0
Amount in excess of the 15% limit, Additions	0
Total organization and offering costs	12,350,688		12,350,688	11,187,956
Total organization and offering costs, Additions	1,162,732
Proceeds from Common Stock Issuance, Inception to Date	93,058,740		93,058,740		$ 200,000,000	$ 200,000,000
Organization and offering costs
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursements (To) From Related Parties During the Period	230,157	$ 227,627
Reimbursements made to RREEF America	(2,071,414)		(2,071,414)	(1,841,257)
RREEF America [Member]
Related Party Transaction [Line Items]
Combined Net Asset Value, Common Stock, At Which Advisory Fee will Begin Accrual	50,000,000		$ 50,000,000
Related Party Transaction, Reimbursements (To) From Related Parties During the Period	$ 77,461	$ 22,242
Maximum offering costs as percentage of gross proceeds from initial public offering	15.00%		15.00%
Expenses to advisor not reimbursable, percentage of invested assets threshold exceeded by operating expenses	2.00%		2.00%
Expense Payments	$ 0		$ 0	9,200,000
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds	10.00%		10.00%
RREEF America [Member] | Organization and offering costs
Related Party Transaction [Line Items]
Deferred O&O	$ 4,618,318		$ 4,618,318	4,618,318
Expense Payments	3,970,819		3,970,819	3,970,819
Expense Payments, Additions	0
Deferred O&O reimbursable to RREEF America	$ 2,546,904		$ 2,546,904	$ 2,777,061

RELATED PARTY ARRANGEMENTS Due

RELATED PARTY ARRANGEMENTS Due to Affiliates (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	May. 08, 2014
Related Party Transaction [Line Items]
Document Period End Date	Mar. 31, 2016
Amortization of Debt Discount (Premium)	$ 91,726	$ 0
Expense Payments					$ 9,200,000
Management Fee Payable	72,152			$ 64,671
Participating Mortgage Loans, Unamortized Debt Discount, Amount	(1,770,154)
Note to affiliate, net of unamortized discount of $1,770,154	7,179,846		$ 0
RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments	0		9,200,000
Reimbursable under the advisory agreement	77,461		0
Due to affiliate	2,696,517		12,041,732
Debt Instrument, Unamortized Discount	8,950,000
Participating Mortgage Loans, Unamortized Debt Discount, Amount	(1,770,154)
Note to affiliate, net of unamortized discount of $1,770,154	7,179,846
Organization and offering costs | RREEF America [Member]
Related Party Transaction [Line Items]
Deferred Reimbursement Cost to Advisor	2,546,904		2,777,061
Expense Payments	$ 3,970,819		$ 3,970,819

CAPITALIZATION (Details)

CAPITALIZATION (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Jan. 27, 2016	Jan. 15, 2016	Dec. 31, 2015	Dec. 23, 2015
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
Common Stock, Shares Authorized, Value, follow-on offering						$ 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%
Short-term trading discount as percentage of gross proceeds	2.00%
Stock Redeemed or Called During Period, Value	$ 6,154,975
RREEF America [Member]
Schedule of Capitalization [Line Items]
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds	10.00%
Common Class A [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	200,000,000		200,000,000
Common stock, par value (in usd per share)	$ 0.01				0.01
Maximum selling commissions as percentage of purchase price	3.00%
Stock Redeemed or Called During Period, Shares	457,246	0
Common Stock Redemption Weighted Average Price	$ 12.87	$ 0
Stock Redeemed or Called During Period, Value	$ 5,885,610	$ 0
Percentage of Dealer Manager Fee	0.55%
Percentage of Distribution Fee	0.50%
Common Class I [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	200,000,000		200,000,000
Common stock, par value (in usd per share)	$ 0.01				$ 0.01
Stock Redeemed or Called During Period, Shares	20,630	2,859
Common Stock Redemption Weighted Average Price	$ 13.07	$ 12.91
Stock Redeemed or Called During Period, Value	$ 269,604	$ 36,916
Percentage of Dealer Manager Fee	55.00%
Common Class D [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	50,000,000		50,000,000		0
Common stock, par value (in usd per share)	$ 0.01			$ 0.01	$ 0.01
Maximum selling commissions as percentage of purchase price	1.00%
Common Class T [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	250,000,000		250,000,000		0
Common stock, par value (in usd per share)	$ 0.01		$ 0.01		$ 0.01
Maximum selling commissions as percentage of purchase price	3.00%
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds	10.00%		10.00%
Stock Redeemed or Called During Period, Shares	0
Common Stock Redemption Weighted Average Price	$ 0
Stock Redeemed or Called During Period, Value	$ 0
Percentage of Dealer Manager Fee	2.75%
Percentage of Distribution Fee	1.00%
Duration of Distribution Fee	4 years

DISTRIBUTIONS (Details)

DISTRIBUTIONS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Class of Stock [Line Items]
Percentage of taxable income required for REIT distribution	90.00%
Declared daily distribution rate, before adjustment for class-specific expenses (usd per share)	$ 0.00179534	$ 0.00175668
Distributions paid or payable in cash	$ 633,913	$ 294,197
Distributions reinvested	407,009	358,056
Distributions declared	$ 1,040,922	$ 652,253
Common Class T [Member]
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	0	0
Common Stock | Common Class A [Member]
Class of Stock [Line Items]
Distributions reinvested	$ 189
Stock issued during period, dividend reinvestment plan (in shares)	18,860	11,126
Common Stock | Common Class I [Member]
Class of Stock [Line Items]
Distributions reinvested	$ 125
Stock issued during period, dividend reinvestment plan (in shares)	12,476	16,669

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	1 Months Ended	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Real estate properties	$ 132,905,049	$ 132,905,049		$ 135,305,346
Investment in marketable securities	9,096,510	9,096,510		8,569,004
Investments	142,001,559	142,001,559		143,874,350
Reconciliation to total assets of March 31, 2016
Total assets	146,378,173	146,378,173		148,066,273
Revenues
Rental and other property income		3,238,899	$ 1,815,217
Tenant reimbursement income		355,396	235,016
Investment income on marketable securities		190,516	47,045
Total revenues		3,784,811	2,097,278
Operating expenses
Property operating expenses		1,373,671	420,703
Total segment operating expenses		1,373,671	420,703
Operating Income - Segments		2,411,140	1,676,575
Reconciliation to net loss
General and administrative expense		(588,476)	(663,828)
Management Fee Expense		(205,937)	(145,468)
Depreciation		(909,020)	(484,528)
Amortization		(1,456,937)	(512,942)
Operating loss		(749,230)	(130,191)
Interest expense	(43,862)	(565,707)	(462,448)
Net realized loss upon sale of marketable securities		(94,945)	179,304
Net loss		$ (1,409,882)	(413,335)
Additional Disclosure [Abstract]
Number of reportable segments | segment		2
Real Estate Properties [Member]
Segment Reporting Information [Line Items]
Real estate properties	132,905,049	$ 132,905,049		135,305,346
Revenues
Rental and other property income		3,238,899	1,815,217
Tenant reimbursement income		355,396	235,016
Investment income on marketable securities		0	0
Total revenues		3,594,295	2,050,233
Operating expenses
Property operating expenses		1,373,671	420,703
Total segment operating expenses		1,373,671	420,703
Operating Income - Segments		2,220,624	1,629,530
Real Estate Equity Securities [Member]
Segment Reporting Information [Line Items]
Investment in marketable securities	9,096,510	9,096,510		8,569,004
Revenues
Rental and other property income		0	0
Tenant reimbursement income		0	0
Investment income on marketable securities		190,516	47,045
Total revenues		190,516	47,045
Operating expenses
Property operating expenses		0	0
Total segment operating expenses		0	0
Operating Income - Segments		190,516	$ 47,045
Corporate [Member]
Reconciliation to total assets of March 31, 2016
Total assets	$ 4,376,614	$ 4,376,614		$ 4,191,923

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Apr. 25, 2016	Apr. 01, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Subsequent Event [Line Items]
Distributions declared per common shares			$ 0.00179534	$ 0.00175668
Stock Redeemed or Called During Period, Value			$ 6,154,975
Short-term trading discount as percentage of gross proceeds			2.00%
Due to affiliate			$ 2,696,517		$ 12,041,732
Common Class A [Member]
Subsequent Event [Line Items]
Stock Redeemed or Called During Period, Shares			457,246	0
Stock Redeemed or Called During Period, Value			$ 5,885,610	$ 0
Subsequent Event [Member]
Subsequent Event [Line Items]
Distributions declared per common shares		$ 0.00177203
Related Party Transaction, Minimum Offering Proceeds Needed Before Expense Repayment	$ 500,000,000
RREEF America [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Due to affiliate	8,950,000
Related Party Transaction, Month Reimbursement Payment, Next Twelve Months	416,667
Related Party Transaction, Month Reimbursement Payment, Year Two	$ 329,166
Common Stock | Common Class A [Member]
Subsequent Event [Line Items]
Stock Redeemed or Called During Period, Shares			(457,246)
Stock Redeemed or Called During Period, Value			$ 4,572