RREEF Property Trust (ZRPTIX) 10-K 16 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 10, 2017
Document Information [Line Items]
Entity Registrant Name	RREEF Property Trust, Inc.
Entity Central Index Key	1,542,447
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float	$ 0
Common Class T [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Common Class I [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,836,874
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,658,130

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Land	$ 37,238,612	$ 31,754,687
Buildings and improvements, less accumulated depreciation of $7,224,763 and $3,497,151, respectively	96,237,173	80,061,236
Furniture, fixtures and equipment, less accumulated depreciation of $124,752 and $26,166, respectively	270,260	339,735
Acquired intangible lease assets, less accumulated amortization of $11,703,672 and $4,782,000, respectively	25,091,662	23,149,688
Total investment in real estate assets, net	158,837,707	135,305,346
Investment in marketable securities	8,609,212	8,569,004
Total investment in real estate assets and marketable securities, net	167,446,919	143,874,350
Cash and cash equivalents	1,493,256	1,936,870
Receivables, net of allowance for doubtful accounts of $1,133 and zero, respectively	1,857,590	1,112,429
Deferred leasing costs, net of amortization of $47,159 and zero, respectively	1,872,817	0
Prepaid and other assets	1,518,865	1,142,624
Total assets	174,189,447	148,066,273
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit, net	64,677,532	71,784,456
Long-term Debt	27,219,106	0
Accounts payable and accrued expenses	2,409,307	295,488
Due to affiliates	4,844,917	12,041,732
Note to affiliate, net of unamortized discount of $1,652,108 and zero, respectively	7,297,892	0
Acquired below market lease intangibles, less accumulated amortization of $2,623,139 and $669,589, respectively	6,060,616	7,858,949
Distributions payable	239,897	192,435
Other liabilities	1,168,665	3,816,498
Total liabilities	113,917,932	95,989,558
Stockholders' Equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0	0
Additional paid in capital	79,994,729	62,760,361
Accumulated deficit	(20,302,983)	(11,439,005)
Accumulated other comprehensive income	505,451	695,440
Total stockholders' equity	60,271,515	52,076,715
Total liabilities and stockholders' equity	174,189,447	148,066,273
Common Class A [Member]
Stockholders' Equity:
Common stock	36,469	30,776
Common Class I [Member]
Stockholders' Equity:
Common stock	37,809	29,143
Common Class T [Member]
Stockholders' Equity:
Common stock	40	0
Common Class D [Member]
Stockholders' Equity:
Common stock	0	0
Common Class N [Member]
Stockholders' Equity:
Common stock	0	0
Wells Fargo Bank [Member]
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit, net	$ 64,677,532	$ 71,784,456

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Buildings and improvements, accumulated depreciation	$ 7,224,763	$ 3,497,151
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	124,752	26,166
Acquired intangible lease assets, accumulated amortization	11,703,672	4,782,000
Off-market lease, unfavorable, accumulated depreciation	$ 2,623,139	$ 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
Common stock, par value (in usd per share)	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000
Allowance for Doubtful Accounts Receivable	$ 1,133	$ 0
Deferred Costs, Leasing, Accumulated Amortization	47,159	0
Note payable, Related Party, Unamortized Debt Discount, Amount	$ 1,652,108	$ 0
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	200,000,000
Common stock, shares issued (in shares)	3,646,919	3,077,546
Common stock, shares outstanding (in shares)	3,646,919	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	200,000,000
Common stock, shares issued (in shares)	3,780,836	2,914,314
Common stock, shares outstanding (in shares)	3,780,836	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

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Rental and other property income	$ 15,102,464	$ 8,050,514	$ 4,591,711
Tenant reimbursement income	1,514,772	1,066,073	593,845
Investment income on marketable securities	484,912	284,627	133,208
Total revenues	17,102,148	9,401,214	5,318,764
Expenses
General and administrative expenses	2,091,416	2,012,137	2,232,336
Property operating expenses	5,158,942	2,118,849	1,007,235
Advisory expenses	1,175,631	607,614	0
Acquisition related expenses	158,762	603,539	333,554
Depreciation	3,826,198	2,233,667	1,097,034
Amortization	6,803,850	2,735,138	1,461,422
Total operating expenses	19,214,799	10,310,944	6,131,581
Operating loss	(2,112,651)	(909,730)	(812,817)
Interest expense	(2,427,110)	(1,330,601)	(1,078,124)
Net realized gain upon sale of marketable securities	193,285	12,635	91,837
Net loss	$ (4,346,476)	$ (2,227,696)	$ (1,799,104)
Weighted average number of common shares outstanding:
Basic and diluted (in shares)	6,856,840	4,989,809	2,870,160
Net loss per common share:
Basic and diluted (in usd per share)	$ (0.63)	$ (0.45)	$ (0.63)

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (4,346,476)	$ (2,227,696)	$ (1,799,104)
Other comprehensive (loss) income:
Reclassification of previous unrealized gain on marketable securities into net realized loss	(193,285)	(12,635)	(91,837)
Unrealized gain on marketable securities	3,296	118,593	856,890
Total other comprehensive (loss) income	(189,989)	105,958	765,053
Comprehensive loss	$ (4,536,465)	$ (2,121,738)	$ (1,034,051)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 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]	Common StockCommon Class T [Member]	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance (shares) at Dec. 31, 2013					0	978,160	1,212,197
Balance at Dec. 31, 2013	$ 20,175,072				$ 0	$ 9,782	$ 12,122		$ 22,782,945	$ (2,454,206)	$ (175,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares						811,790	693,608
Issuance of common stock, value	18,916,109					$ 8,118	$ 6,936		18,901,055
Issuance of common stock through the distribution reinvestment plan (in shares)		28,660	54,948			28,660	54,948
Issuance of common stock through the distribution reinvestment plan	1,047,236					$ 287	$ 550		1,046,399
Redemption of common stock, Shares		(10,008)	(60,391)			(10,008)	(60,391)
Redemption of common stock	(877,465)	$ (122,388)	$ (765,272)			$ (100)	$ (604)		(876,761)
Distributions to investors	(1,781,840)									(1,781,840)
Dealer-manager fees	(135,491)								(135,491)
Other offering costs	(2,701,925)								(2,701,925)
Comprehensive loss	(1,034,051)									(1,799,104)	765,053
Balance (shares) at Dec. 31, 2014					0	1,808,602	1,900,362
Balance at Dec. 31, 2014	33,607,645				$ 0	$ 18,087	$ 19,004		39,016,222	(6,035,150)	589,482
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares						1,285,930	1,240,727
Issuance of common stock, value	32,581,726					$ 12,859	$ 12,407		32,556,460
Issuance of common stock through the distribution reinvestment plan (in shares)		56,794	48,103			56,794	48,103
Issuance of common stock through the distribution reinvestment plan	1,342,575					$ 568	$ 481		1,341,526
Redemption of common stock, Shares		(73,780)	(274,878)			(73,780)	(274,878)
Redemption of common stock	(4,393,947)	$ (937,876)	$ (3,513,911)			$ (738)	$ (2,749)		(4,390,460)
Distributions to investors	(3,176,159)									(3,176,159)
Dealer-manager fees	(284,584)								(284,584)
Other offering costs	(5,478,803)								(5,478,803)
Comprehensive loss	(2,121,738)									(2,227,696)	105,958
Balance (shares) at Dec. 31, 2015					0	3,077,546	2,914,314
Balance at Dec. 31, 2015	52,076,715				$ 0	$ 30,776	$ 29,143		62,760,361	(11,439,005)	695,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares					0	1,190,235	896,677	4,043
Issuance of common stock, value	27,623,469				$ 0	$ 11,902	$ 8,967	$ 40	27,602,560
Issuance of common stock through the distribution reinvestment plan (in shares)						88,710	54,459
Issuance of common stock through the distribution reinvestment plan	1,882,139					$ 887	$ 545		1,880,707
Redemption of common stock, Shares		(709,572)	(84,614)	0		(709,572)	(84,614)
Redemption of common stock	(10,282,451)	$ (9,170,461)	$ (1,111,990)	$ 0		$ (7,096)	$ (846)		(10,274,509)
Distributions to investors	(4,517,502)									(4,517,502)
Dealer-manager fees	(428,711)								(428,711)
Other offering costs	(3,407,559)								(3,407,559)
Discount on note to affiliate	1,861,880								1,861,880
Comprehensive loss	(4,536,465)									(4,346,476)	(189,989)
Balance (shares) at Dec. 31, 2016					0	3,646,919	3,780,836	4,043
Balance at Dec. 31, 2016	$ 60,271,515				$ 0	$ 36,469	$ 37,809	$ 40	$ 79,994,729	$ (20,302,983)	$ 505,451

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (4,346,476)	$ (2,227,696)	$ (1,799,104)
Depreciation	3,826,198	2,233,667	1,097,034
Net realized gain upon sale of marketable securities	(193,285)	(12,635)	(91,837)
Amortization of intangible lease assets and liabilities	5,015,281	2,362,747	1,341,516
Amortization of deferred financing costs	375,065	372,071	385,978
Allowance for doubtful accounts	1,133	0	0
Straight Line Rent Adjustments	(607,900)	(431,065)	(342,643)
Straight line rent	(836,108)	(431,065)	(342,643)
Amortization of discount on note to affiliate	209,772
Changes in assets and liabilities:
Receivables	(59,727)	(140,554)	(50,680)
Deferred leasing costs	(242,141)	0	0
Prepaid and other assets	150,297	(474,991)	(83,478)
Accounts payable and accrued expenses	327,044	(473,689)	197,254
Other liabilities	(96,022)	544,416	135,025
Due to affiliates	576,161	1,097,737	2,128,248
Net cash provided by operating activities	4,935,400	2,850,008	2,917,313
Cash flows from investing activities:
Investment in real estate and related assets	(33,761,415)	(48,954,401)	(59,719,256)
Improvements to real estate assets	(125,014)	(4,177)	0
Investment in marketable securities	(13,653,232)	(11,757,605)	(6,256,592)
Proceeds from sale of marketable securities	13,644,874	9,653,838	3,635,477
Net cash used in investing activities	(33,894,787)	(51,062,345)	(62,340,371)
Cash flows from financing activities:
Proceeds from line of credit	36,600,000	92,926,851	51,400,000
Repayments of line of credit	(43,900,000)	(68,826,851)	(8,500,000)
Proceeds from mortgage loans payable	27,500,000	0	0
Proceeds from issuance of common stock	27,604,469	32,581,726	19,031,109
Payment of offering costs	(5,705,461)	(1,607,660)	(1,582,605)
Repayment of note to affiliate	(250,000)	0	0
Distributions to investors	(4,470,040)	(3,070,769)	(1,737,103)
Redemption of common stock	(10,282,451)	(4,393,947)	(877,465)
Common stock issued through the distribution reinvestment plan	1,882,139	1,342,575	1,047,236
Deferred financing costs	(462,883)	(922,105)	(154,871)
Net cash provided by financing activities	28,515,773	48,029,820	58,626,301
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Accrued offering costs payable to affiliates	0	2,663,945	1,944,335
Distributions declared and unpaid	239,897	192,435	87,045
Accrued deferred financing costs	0	2,572	5,839
Unrealized gain (loss) on marketable securities	(189,989)	105,958	765,053
Purchases of marketable securities not yet paid	106,915	11,639	75,456
Proceeds from sale of marketable securities not yet received	(84,333)	(17,611)	(27,461)
Proceeds from issuance of common stock not yet received	(19,000)	0	0
Notes Payable, Related Party, Discount	1,861,880	0	0
Dealer Manager and Distribution Fees	2,413,226	1,669,440	0
Interest paid	1,698,712	869,195	550,565
In connection with the purchase of investments in real estate and related assets, the Company also assumed certain non-real estate assets and liabilities:
Purchase price	34,000,000	48,950,000	60,100,000
Prepaids and other assets assumed	(7,055)	75,832	64,470
Other liabilities assumed	(231,530)	(71,431)	(445,214)
Net decrease in cash and cash equivalents	(443,614)	(182,517)	(796,757)
Cash and cash equivalents, beginning of period	1,936,870	2,119,387	2,916,144
Cash and cash equivalents, end of period	1,493,256	1,936,870	2,119,387
RREEF America [Member]
Cash flows from operating activities:
Amortization of discount on note to affiliate	$ 209,772	$ 0	$ 0

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 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 net proceeds of the offering to the Operating Partnership. The Company was organized to invest primarily in a diversified portfolio consisting primarily of high quality, income-producing commercial real estate located in the United States, including, without limitation, office, industrial, retail and multifamily properties (“Real Estate Properties”). Although the Company intends to invest primarily in Real Estate Properties, it also intends to acquire common and preferred stock of REITs and other real estate companies (“Real Estate Equity Securities”) and debt investments backed principally by real estate (“Real Estate Loans” and, together with Real Estate Equity Securities, “Real Estate-Related Assets”). On January 3, 2013, the Securities and Exchange Commission ("SEC") declared effective the Company's registration statement on form S-11 (File No. 333-180356), filed under the Securities Act of 1933, as amended (the "Initial Registration Statement"). Pursuant to the Initial Registration Statement, the Company offered for sale 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 “Initial Public Offering”). On May 30, 2013, RREEF America purchased $10,000,000 of the Company's Class B common stock, $0.01 par value per share ("Class B Shares"), in the Initial 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. Initially, the Company offered to the public two classes of shares of its common stock, Class A common stock, $0.01 par value per share ("Class A Shares") and Class B Shares, in any combination of Class A Shares and Class B Shares with a dollar value up to the maximum offering amount. 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 Initial Public Offering and the Follow-On Public Offering (defined below), the "Offerings," and each an "Offering"). 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 Initial Registration Statement to add the Class T shares to the Initial Public Offering, and that amendment to the Initial Registration Statement was declared effective by the SEC on February 9, 2016. Class T shares contain a conversion feature whereby upon the occurrence of a specified event (generally related to a Class T stockholder's account, as amended (see Note 8), having incurred a maximum of 8.5% of underwriting compensation), Class T shares owned in a stockholder's Class T account for a given offering will automatically convert to Class N shares. Shares of the Company’s common stock are 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 a distribution fee. NAV per share is calculated by dividing the NAV at the end of each business day for each class by the number of shares outstanding for that class on such day. On July 1, 2016, the Company and its Operating Partnership entered into a new dealer manager agreement (the “New Dealer Manager Agreement”) with Deutsche AM Distributors, Inc. (the “New Dealer Manager”), a registered broker-dealer and an affiliate of RREEF America. Also see Note 7. On July 12, 2016, the SEC declared effective the Company's registration statement on form S-11 (File No. 333-208751), filed under the Securities Act of 1933, as amended (the "Registration Statement"). Pursuant to the Registration Statement, the Company offered for sale up to $2,100,000,000 of shares of its Class A, Class I or Class T common stock in its primary offering and up to $200,000,000 of shares of its Class A, Class I, Class N or Class T common stock pursuant to its distribution reinvestment plan, to be sold on a "best efforts" basis for the Company's follow-on offering (the "Follow-On Public Offering"). The Follow-On Public Offering replaces the Initial Public Offering which expired on July 3, 2016. The Company's NAV per share for its Class A, Class I and Class T shares is posted to the Company's website at www.rreefpropertytrust.com after the stock market close each business day. Additionally, the Company's NAV per share for its Class A, Class I and Class T shares is published daily via NASDAQ's Mutual Fund Quotation System under the symbols ZRPTAX, ZRPTIX and ZRPTTX for its Class A shares, Class I shares and Class T shares, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), the authoritative reference for U.S. generally accepted accounting principles (“GAAP”). The Company adjusted its accounting for trailing fees, as described below, which resulted in an immaterial correction to the consolidated financial statements. Otherwise, there have been no significant changes to the Company's significant accounting policies during the year ended December 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. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts. There are no restrictions on the use of the Company’s cash and cash equivalents. Real Estate Investments and Lease Intangibles Real estate investments are stated at cost less accumulated depreciation and amortization. Buildings and improvements are depreciated utilizing the straight-line method over an estimated useful life of 20 to 40 years for industrial, retail and office properties, and 27.5 years for residential. Tenant improvements and lease commissions are amortized to expense over the terms of the respective tenant leases. Lease incentives are amortized as an offset to revenue over the terms of the respective tenant leases. Furniture and equipment is depreciated over an estimated useful life ranging from 5 to 7 years. Costs related to the acquisition of properties, as well as ongoing, ordinary repair and maintenance costs, are expensed as incurred. In accordance with FASB ASC 805, Business Combinations, and FASB ASC 350, Intangibles—Goodwill and Other, acquisitions of properties are accounted for utilizing the acquisition method and, accordingly, the results of operations of acquired properties will be included in the Company’s results of operations from their respective dates of acquisition. Estimates of future cash flows and other valuation techniques believed to be similar to those used by independent appraisers are used to allocate the purchase price of identifiable assets acquired and liabilities assumed such as land, buildings and improvements, equipment and identifiable intangible assets and liabilities such as amounts related to in-place leases, acquired above- and below-market leases, tenant relationships, asset retirement obligations and mortgage loans payable. Values of buildings and improvements are determined on an as-if-vacant basis. Initial allocations are subject to change until such information is finalized, which may be no later than 12 months from the acquisition date. The estimated fair value of acquired in-place leases are the costs the Company would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include the fair value of leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, the Company evaluates the time period over which such occupancy levels would be achieved. Such evaluation will include an estimate of the net market-based rental revenues and net operating costs (primarily consisting of forgone rents, real estate taxes, recoverable charges and insurance) that would be incurred during the lease-up period, which generally ranges up to one year. Acquired in-place leases as of the date of acquisition are amortized over the remaining lease terms into amortization expense. Acquired above- and below-market lease values are estimated based on the present value (using an interest rate that reflects the risks associated with the lease acquired) of the difference between the contractual amounts to be paid pursuant to the in-place leases and the Company’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized to rental revenue over the remaining terms of the respective leases, which include, for below-market leases, periods covered by bargain fixed-rate renewal options if, at the time of acquisition, the exercise of such renewal options are determined to be reasonably assured. If a lease is terminated prior to its scheduled expiration, the unamortized portion of the in-place lease is charged to amortization expense and the unamortized portion of the above- or below-market lease is charged to rental revenue. The carrying value of the real estate investments are reviewed to ascertain if there are any indicators of impairment. Factors considered include the type of asset, the economic situation in the area in which the asset is located, the economic situation in the industry in which a tenant is involved and the timeliness of the payments made by a tenant under its lease, as well as any current correspondence that may have been had with a tenant, including property inspection reports. A real estate investment is impaired if the undiscounted cash flows over the expected hold period are less than the real estate investment’s carrying amount. In this case, an impairment loss will be recorded to the extent that the estimated fair value is lower than the real estate investment’s carrying amount. The estimated fair value is determined primarily using information contained within independent appraisals obtained quarterly by the Company from its independent valuation agent. Real estate investments that are expected to be disposed of are valued at the lower of carrying amount or estimated fair value less costs to sell. As of December 31, 2016 and 2015, none of the Company's real estate investments were impaired. Investments in Marketable Securities In accordance with the Company’s investment guidelines as approved by the Company’s board of directors, investments in marketable securities may consist of common and preferred stock of publicly-traded REITs and other real estate operating companies. The Company determines the appropriate classification for these securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of December 31, 2016 and 2015, the Company classified its investments in marketable securities as available-for-sale as the Company intends to hold the securities for the purpose of collecting dividend income and for longer term price appreciation. These investments are carried at their estimated fair value based on published prices for each security. Unrealized gains and losses are reported in accumulated other comprehensive income (loss). Any non-temporary decline in the market value of an available-for-sale security below cost results in a reduction in the carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. When a security is impaired, the Company considers whether it has the ability and intent to hold the investment for a time sufficient to allow for any anticipated recovery in market value and considers whether evidence indicating the cost of the investment being recoverable outweighs evidence to the contrary. Evidence considered in this assessment includes the reasons for the impairment, the severity and duration of the impairment, changes in value subsequent to period end and forecasted performance of the investee. Securities may be sold if the Company believes a security has attained its target maximum value or if other conditions exist whereby the Company believes that the value of its investment in a particular security has a larger than desired risk of declining. The Company considers many factors in determining whether to hold or sell a security, including, but not limited to, recent events specific to the issuer or industry, external credit ratings and recent changes in such ratings. Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares with the highest cost are sold first. Deferred Financing Costs Deferred financing costs are the direct costs associated with obtaining financing. Such costs include commitment fees, legal fees and other third-party costs associated with obtaining commitments for financing that result in a closing of such financing. The Company capitalizes these costs and amortizes them on a straight-line basis, which approximates the effective interest method, over the terms of the obligations, once the loan process is completed. Amortization of deferred financing costs is included in interest expense in the consolidated statements of operations. The unamortized portion of deferred financing costs is reflected as a reduction of the outstanding debt balance on the consolidated balance sheets. Borrowings The Company may obtain various forms of borrowings from market participants. Generally, borrowings originated by the Company will be recorded at amortized cost. The Company may also assume borrowings in connection with acquisitions. The Company will estimate the fair value of assumed borrowings based upon indications of then-current market pricing for similar types of debt with similar maturities. The assumed borrowings will initially be recorded at their estimated fair value as of the assumption date, with the difference between such estimated fair value and the borrowings’ outstanding principal balance being amortized over the remaining life of the borrowing. Revenue Recognition Rental revenue from real estate investments is recognized on a straight-line basis over the terms of the related leases. The differences between rental revenue earned from real estate investments and amounts due under the respective lease agreements are amortized or accreted, as applicable, to deferred rent receivable. Rental revenue will also include amortization of above- and below-market leases, as well as amortization of lease incentives. Revenues relating to lease termination fees will be recognized at the time that a tenant’s right to occupy the leased space is terminated and collectability is reasonably assured. Also included in rental revenue are tenant reimbursements of certain operating expenses determined in accordance with the terms of the lease agreements. Investment income from marketable securities is accrued at the time the income becomes payable to the Company. Organization and Offering Expenses Organizational expenses and other expenses which do not qualify as offering costs are expensed as incurred from and after the commencement of operations. Offering costs are those costs incurred by the Company, RREEF America and its affiliates on behalf of the Company which relate directly to the Company’s activities of raising capital in the 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 the dealer managers for the public offerings, 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 managers for amounts that they 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 each of the Initial Public Offering and the Follow-On Public Offering will not exceed 15% of the gross proceeds from the Initial Public Offering or the Follow-On Public Offering, respectively. In addition, the Company will not reimburse RREEF America or the New 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 Initial Public Offering or the Follow-On Public Offering, as applicable. Included in offering costs are (1) distribution fees paid on a trailing basis at the rate of (a) 0.50% per annum on the NAV of the Company's outstanding Class A shares, and (b) 1.00% per annum on the NAV of the Company's outstanding Class T shares, and (2) dealer manager fees paid on a trailing basis at the rate of 0.55% per annum on the NAV of the Company's outstanding Class A and Class I shares (collectively, the "Trailing Fees"); provided, however, that the Class I shares owned by RREEF America do not incur a dealer manager fee on a trailing basis. The Trailing Fees are computed daily based on the respective NAV of each share class as of the beginning of each day and paid monthly. However, at each reporting date, the Company accrues an estimate for the amount of Trailing Fees that ultimately may be paid on the outstanding shares. Such estimate reflects the Company's assumptions for certain variables, including future redemptions with respect to each Offering, share price appreciation and the total gross proceeds to be raised during the Follow-On Public Offering. In addition, the estimated accrual for future Trailing Fees as of a given reporting date may be reduced by the aforementioned limits on total organization and offering costs and total underwriting compensation. Changes in this estimate will be recorded prospectively as an adjustment to additional paid in capital. As of December 31, 2016 , the Company has accrued $2,352,711 in Trailing Fees estimated to be payable in the future. Correction of Immaterial Understatement of Liabilities During the three months ended June 30, 2016, the Company identified an immaterial understatement of its liability for Trailing Fees. Previously, the Company accrued for Trailing Fees on a daily basis as offering costs, which are recorded as a reduction of capital in excess of par value. The Company has determined that an estimate for the full amount of the future liability of Trailing Fees should be accrued upon the sale of the Company's shares that incur Trailing Fees. The Company's consolidated financial statements as of and for the year ended December 31, 2015 have been corrected to record a liability for future Trailing Fees. This change has no impact on the Company's net loss or cash flows. The following table summarizes the effects of this change: As of December 31, 2015 Previously Reported Adjustment Corrected Other liabilities $ 2,193,557 1,622,941 $ 3,816,498 Total liabilities $ 94,366,617 1,622,941 $ 95,989,558 Additional paid in capital $ 64,383,302 (1,622,941 ) $ 62,760,361 Total stockholders' equity $ 53,699,656 (1,622,941 ) $ 52,076,715 Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), beginning with the year ended December 31, 2013. In order to maintain the Company’s qualification as a REIT, the Company is required to, among other things, distribute as dividends at least 90% of the Company’s REIT taxable income, determined without regard to the dividends-paid deduction and excluding net capital gains, to the Company’s stockholders, and meet certain tests regarding the nature of the Company’s income and assets. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal income tax to the extent it meets certain criteria and distributes its REIT taxable income to its stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to (1) certain state and local taxes on its income, property or net worth, and (2) federal income and excise taxes on its undistributed income, if any income remains undistributed. The Company intends to operate in a manner that allows the Company to meet the requirements for taxation as a REIT, including creating taxable REIT subsidiaries to hold assets that generate income that would not be consistent with the rules applicable to qualification as a REIT if held directly by the REIT. If the Company were to fail to meet these requirements, it could be subject to federal income tax on the Company’s taxable income at regular corporate rates. The Company would not be able to deduct distributions paid to stockholders in any year in which it fails to qualify as a REIT. The Company will also be disqualified for the four taxable years following the year during which qualification was lost unless the Company is entitled to relief under specific statutory provisions. Reportable Segments The Company intends to operate in three primary segments: (1) Real Estate Properties, (2) Real Estate Equity Securities, and (3) Real Estate Loans. Concentration of Credit Risk As of December 31, 2016 , 2015 and 2014, the Company had cash on deposit at multiple financial institutions which were in excess of federally insured levels. The Company limits significant cash holdings to accounts held by financial institutions with a high credit standing. Therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. As of December 31, 2016 , the Company owned six commercial properties with fourteen tenants, one medical office property with five tenants and one student housing property with 316 beds. As of December 31, 2015 , the Company owned six commercial properties housing fourteen tenants and One student housing property with 316 beds. As of December 31, 2014, the Company owned five commercial properties housing thirteen tenants. Percentages of gross rental revenues by property and tenant representing more than 10% of the Company's total gross rental revenues (rental and other property income and tenant reimbursement income) for the years ended December 31, 2016, 2015 and 2014 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Terra Nova Plaza, Chula Vista, CA (1) 22.3 % 24.5 % 10.7 % Loudoun Gateway, Sterling VA 18.1 1.0 — Flats at Carrs Hill, Athens GA 17.3 7.6 — Anaheim Hills Office Plaza, Anaheim, CA 12.9 22.2 19.7 Commerce Corner, Logan Township, NJ 10.6 19.1 23.6 Heritage Parkway, Woodridge, IL 7.5 13.7 24.1 Wallingford Plaza, Seattle, WA 6.7 11.9 21.9 Total 95.4 % 100.0 % 100.0 % Percent of actual gross rental revenues Tenant - Property Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Orbital ATK Inc. - Loudoun Gateway 18.1 % 1.0 % — % The Sports Authority, Inc. - Terra Nova Plaza (1) 14.1 12.4 5.4 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 8.5 15.2 13.3 Allstate Insurance Company - Heritage Parkway 7.5 13.7 24.1 Bed Bath & Beyond, Inc. - Terra Nova Plaza 6.7 12.2 5.3 Performance Food Group, Inc. - Commerce Corner 6.5 11.6 14.3 Walgreen Company - Wallingford Plaza 3.6 6.3 11.3 Total 65.0 % 72.4 % 73.7 % (1) On March 2, 2016, The Sports Authority, Inc., a tenant at Terra Nova Plaza, declared bankruptcy and on June 29, 2016, Dick's Sporting Goods, Inc. won the right at auction to assume and/or negotiate a new lease for the space occupied by The Sports Authority, Inc. On September 2, 2016, the Company entered into a 10 -year lease with Dick's Sporting Goods, Inc. for the space previously occupied by The Sports Authority, Inc. On September 26, 2016, the lease with Dick's Sporting Goods, Inc. was formally approved by the court administering the bankruptcy proceedings of The Sports Authority, Inc., at which time Dick's Sporting Goods, Inc. became the tenant, effectively terminating the lease with The Sports Authority, Inc. In connection therewith, all outstanding receivables related to The Sports Authority, Inc., including $315,548 of accounts receivable and $228,208 of deferred rent receivable which were previously reserved, were fully written off. In addition, the Company also fully amortized the remaining acquired intangible lease assets and acquired below market lease intangible related to The Sports Authority, Inc. lease, the effect of which added approximately $1,897,869 to amortization expense and approximately $1,499,234 to rental and other property income on the Company's consolidated statement of operations for the year ended December 31, 2016 . The additional acquired below market lease revenue of $1,499,234 is included in the concentration tables above. The Company's tenants representing more than 10% of in-place annualized base rental revenues as of December 31, 2016, 2015 and 2014 were as follows: Percent of in-place annualized base rental revenues as of Tenant - Property December 31, 2016 December 31, 2015 December 31, 2014 Orbital ATK Inc. - Loudoun Gateway 20.3 % 21.6 % — % New England Baptist Hospital - Allied Drive 12.0 — — Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 10.3 11.0 18.9 Allstate Insurance Company - Heritage Parkway — 10.4 18.7 Performance Food Group, Inc. - Commerce Corner — — 12.5 The Sports Authority, Inc. - Terra Nova Plaza — — 11.8 Total 42.6 % 43.0 % 61.9 %

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 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 at December 31, 2016 and 2015 approximated its fair value of $65,200,000 and $ 72,500,000 respectively. See Note 6 - Line of Credit. The Company estimated the fair value of the Company's mortgage loans payable at $25,942,141 as of December 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 estimate current market conditions. The Company has estimated the fair value of its note to affiliate at approximately $2,600,000 as of December 31, 2016 . The Company's financial instruments, other than the line of credit, mortgage loans payable and note to affiliate are generally short-term in nature and contain minimal credit risk. These instruments consist of cash and cash equivalents, accounts and other receivables and accounts payable. The carrying amounts of these assets and liabilities in the consolidated balance sheets approximate their fair value.

REAL ESTATE INVESTMENTS

REAL ESTATE INVESTMENTS	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS On April 11, 2014, the Company acquired 1109 Commerce Boulevard ("Commerce Corner") for a purchase price of $19,750,000 , excluding closing costs. The acquisition was funded with proceeds from the Offerings and by borrowing $17,600,000 under the Regions line of credit. Of this borrowed amount, $8,840,000 related to Commerce Corner while the balance was borrowed against available capacity from Heritage Parkway and Wallingford Plaza. Commerce Corner consists of a 259,910 square-foot industrial building fully leased to two tenants and an adjacent land parcel. On July 2, 2014 , the Company acquired Anaheim Hills Office Plaza (" Anaheim Hills Office Plaza ") for a purchase price of $18,500,000 , excluding closing costs. The acquisition was funded with proceeds from the Offerings and by borrowing $14,700,000 under the Company's Regions line of credit. Of this borrowed amount, $10,130,000 related to Anaheim Hills Office Plaza while the balance was borrowed against available capacity from the other three properties. Anaheim Hills Office Plaza consists of a 73,892 square-foot office building fully leased to three tenants. On October 2, 2014 , the Company acquired Terra Nova Plaza (" Terra Nova Plaza") for a purchase price of $21,850,000 , excluding closing costs. The acquisition was funded with proceeds from the Offerings and by borrowing $19,100,000 under the Company's Regions line of credit. Of this borrowed amount, $12,000,000 related to Terra Nova Plaza while the balance was borrowed against available capacity from the other four properties. Terra Nova Plaza consists of a 96,114 square-foot retail building fully leased to two tenants. On September 30, 2015 , the Company acquired The Flats at Carrs Hill ("Flats at Carrs Hill") for a purchase price of $27,000,000 , exclusive of closing costs. The Company funded the acquisition, including closing costs, with existing cash and by borrowing $27,000,000 under the Wells Fargo line of credit. Of the $27,000,000 borrowed, $13,429,038 related to Flats at Carrs Hill while the balance was borrowed against available capacity on previously acquired properties. Flats at Carrs Hill is a five -story, 316 bed ( 138 unit) student housing property containing 135,864 square feet of rentable apartment area. On December 21, 2015 , the Company acquired Loudoun Gateway I ("Loudoun Gateway") for a purchase price of $21,950,000 , excluding closing costs. The acquisition was funded with proceeds from the Offerings and by borrowing $20,000,000 under the Wells Fargo line of credit. Of this borrowed amount, $11,780,984 related to Loudoun Gateway while the balance was borrowed against available capacity on previously acquired properties. Loudoun Gateway consists of a 102,015 square-foot office building fully leased to one tenant. On September 27, 2016 , the Company acquired 40 Allied Drive ("Allied Drive") for a purchase price of $34,000,000 excluding closing costs. The acquisition was funded with cash on hand and by borrowing $32,400,000 from the Wells Fargo line of credit. Of the $32,400,000 borrowed, $19,263,400 related to Allied Drive while the balance was borrowed against available capacity on previously acquired properties. Allied Drive is a two -story, 64,127 square foot medical office building fully leased to five tenants. All leases at the Company's properties have been classified as operating leases. The Company allocated the purchase price of the Company's properties to the fair value of the major components of the assets acquired and liabilities assumed, using Level 3 inputs and assumptions, as follows: 2016 Allied Drive Land $ 5,483,925 Building and improvements 19,807,646 Acquired in-place leases 8,861,624 Acquired above-market leases 2,022 Acquired below-market leases (155,217 ) Total purchase price $ 34,000,000 Loudoun Gateway Flats at Carrs Hill 2015 Total Land $ 2,042,441 $ 3,143,752 $ 5,186,193 Building and improvements 9,974,457 21,389,609 31,364,066 Furniture, fixtures and equipment — 361,724 361,724 Acquired in-place leases 9,707,433 2,104,915 11,812,348 Acquired above-market leases 225,669 — 225,669 Total purchase price $ 21,950,000 $ 27,000,000 $ 48,950,000 Commerce Corner Anaheim Hills Office Plaza Terra Nova Plaza 2014 Total Land $ 3,396,679 $ 6,519,531 $ 10,628,293 $ 20,544,503 Building and improvements 14,304,272 9,002,457 14,054,509 37,361,238 Acquired in-place leases 2,258,817 2,830,140 4,228,979 9,317,936 Acquired above-market leases 393,562 220,199 — 613,761 Acquired below-market leases (603,330 ) (72,327 ) (7,061,781 ) (7,737,438 ) Total purchase price $ 19,750,000 $ 18,500,000 $ 21,850,000 $ 60,100,000 Future amortization related to acquired intangible assets and liabilities as of December 31, 2016 is as follows: Acquired in-place leases Acquired above-market leases Acquired below-market leases 2017 $ 3,671,317 $ 135,282 $ (393,101 ) 2018 3,476,302 108,941 (391,631 ) 2019 2,340,724 82,806 (377,119 ) 2020 2,240,795 80,570 (361,691 ) 2021 2,215,528 80,584 (357,348 ) Thereafter 10,609,652 49,161 (4,179,726 ) Total $ 24,554,318 $ 537,344 $ (6,060,616 ) The Company recorded revenues and net income related to the properties acquired during the years ended December 31, 2016, 2015 and 2014, as follows: Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Revenues $ 768,546 $ 776,026 $ 2,801,262 Net (loss) income $ (153,687 ) $ (1,165,400 ) $ 165,746 The Company's estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisition of Allied Drive was completed on January 1, 2015), are as follows (unaudited): Year Ended December 31, 2016 Year Ended December 31, 2015 Revenues $ 19,038,001 $ 11,939,832 Net loss $ (4,337,457 ) $ (2,783,491 ) Net loss per common share: Basic and diluted $ (0.61 ) $ (0.39 ) The pro forma information for the year ended December 31, 2016 does not include acquisition costs of $158,762 , as such costs are non-recurring. The weighted average shares outstanding used in the calculation of net loss per common share, basic and diluted, for each of the years ended December 31, 2016 and 2015 was 7,081,909 . The pro forma information is unaudited and presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of period presented, nor does it purport to represent the results of future operations. The Company's rental and other property income for the years ended December 31, 2016, 2015 and 2014 is comprised of the following: 2016 2015 2014 Rental revenue $ 12,477,787 $ 7,247,058 $ 4,129,162 Lease incentive amortization (27,542 ) — — Straight-line revenue 836,108 431,065 342,643 Above- and below-market lease amortization 1,816,111 372,391 119,906 Rental and other property income $ 15,102,464 $ 8,050,514 $ 4,591,711 The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of the in-place leases as of December 31, 2016 are as follows: Year ended December 31, Future Minimum Rent 2017 $ 13,522,989 2018 12,024,772 2019 8,967,888 2020 8,819,991 2021 8,812,801 Thereafter 41,478,595 $ 93,627,036

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 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 December 31, 2016 and 2015, which consisted entirely of publicly-traded shares of common stock in REITs as of each date. All marketable securities held as of December 31, 2016 and 2015 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. December 31, 2016 December 31, 2015 Marketable securities—cost $ 8,103,761 $ 7,873,564 Unrealized gains 652,417 827,989 Unrealized losses (146,966 ) (132,549 ) Net unrealized gain 505,451 695,440 Marketable securities—fair value $ 8,609,212 $ 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 year ended December 31, 2016 , marketable securities sold generated proceeds of $13,711,596 resulting in gross realized gains of $894,812 and gross realized losses of $701,527 . During the year ended December 31, 2015 , marketable securities sold generated proceeds of $9,643,988 resulting in gross realized gains of $425,130 and gross realized losses of $412,495 . During the year ended December 31, 2014, marketable securities sold generated proceeds of $3,641,057 resulting in gross realized gains of $169,692 and gross realized losses of $77,855 .

LINE OF CREDIT

LINE OF CREDIT	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
LINE OF CREDIT	NOTES PAYABLE Regions Line of Credit On May 1, 2013, the Operating Partnership, as borrower, and the Company, as guarantor, entered into a secured revolving line of credit arrangement (the “Regions Line of Credit”) pursuant to a credit agreement with Regions Bank and its affiliates, as administrative agent, sole lead arranger and sole book runner, and other lending institutions that may become parties to the credit agreement. The Regions Line of Credit had a capacity of $50,000,000 and could be used to fund acquisitions, redeem shares pursuant to the Company’s redemption plan and for any other corporate purpose. The initial term was set to expire on May 1, 2015. Borrowings under the Regions Line of Credit carried a specified interest rate which, at the option of the Company, could be comprised of (1) a base rate, equal to the prime rate, or (2) a rate based on the one-, two- or three-month London Interbank Offered Rate (“LIBOR”) plus a spread ranging from 220 to 250 basis points, depending on the Company's consolidated debt-to-value ratio. As of March 6, 2015, the repayment date, the outstanding balance and average interest rate were $42,400,000 and 2.66% , respectively. On March 6, 2015, the Company refinanced its Regions Line of Credit with a new line of credit from Wells Fargo Bank, National Association (described below). In connection therewith, the Company borrowed $43,426,851 from Wells Fargo which was used to fully repay and retire the Regions Line of Credit. As a result, the Company fully expensed unamortized deferred financing costs under the Regions Line of Credit in the amount of $82,762 . Wells Fargo Line of Credit On March 6, 2015, the Company, as guarantor, and the wholly-owned subsidiaries of the Operating Partnership, as co-borrowers, entered into a secured revolving line of credit arrangement (the “Wells Fargo Line of Credit”) pursuant to a credit agreement with Wells Fargo Bank, National Association, as administrative agent, and other lending institutions that may become parties to the credit agreement. The Wells Fargo Line of Credit has a three -year term set to mature on March 6, 2018 with two one-year extension options exercisable by the Company upon meeting the specified covenants and payment of applicable extension fees. The Company plans to extend the line of credit prior to the maturity date using available cash flow to meet the requirements for extension. 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 had an initial maximum capacity of $75,000,000 and 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. In connection with the acquisition of Allied Drive, the Company expanded the Wells Fargo Line of credit to a maximum capacity of $100,000,000 . As of December 31, 2016 , the outstanding balance and weighted average interest rate were $65,200,000 and 2.40% , respectively. At any point in time, the borrowing capacity under the Wells Fargo Line of Credit is based on the lesser of (1) an amount equal to 65% of the aggregate value of the properties in the collateral pool as determined by lender appraisals, (2) an amount that results in a minimum debt yield of 11% based on the in-place net operating income of the collateral pool as defined, or (3) the maximum capacity of the Wells Fargo Line of Credit. Proceeds from the Wells Fargo Line of Credit can be used to fund acquisitions, redeem shares pursuant to the Company's redemption plan and for any other corporate purpose. As of December 31, 2016 , the Company's borrowing capacity was $65,800,970 . The Wells Fargo Line of Credit agreement contains customary representations, warranties, borrowing conditions and affirmative, negative and financial covenants, including that there must be at least five properties in the collateral pool at all times and that the collateral pool must also meet specified concentration provisions, unless waived by the lender. In addition, the Company, as guarantor, must meet tangible net worth hurdles. On March 22, 2016, the Company entered into an amendment to the agreement governing the Wells Fargo Line of Credit which, effective December 31, 2015, revised the tangible net worth definition therein to reflect the Company's properties at the lesser of cost or appraised value as determined by the Company's independent valuation advisor. The Company was in compliance with all financial covenants as of December 31, 2016 . 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 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. Hartford Life Insurance Company On December 1, 2016 , RPT 1109 Commerce Boulevard, LLC, a wholly-owned subsidiary of the Operating Partnership, entered into a credit agreement with Hartford Life Insurance Company (the "Hartford Loan"). Proceeds of $13,000,000 obtained from the Hartford Loan were used to repay outstanding balances under the Wells Fargo Line of Credit, thereby releasing Commerce Corner from the Wells Fargo Line of Credit. The Hartford Loan is a secured, fully non-recourse loan with a term of seven years. The Hartford loan carries a fixed interest rate of 3.41% with interest-only payments for the first 24 months of the term, then principal and interest payments for the remainder of the term, based upon a 30 -year amortization schedule. The following is a reconciliation of the carrying amounts of the line of credit and mortgage loans payable as of December 31, 2016 and 2015: December 31, 2016 December 31, 2015 Line of credit $ 65,200,000 $ 72,500,000 Deduct: Deferred financing costs, less accumulated amortization (522,468 ) (715,544 ) Line of credit, net $ 64,677,532 $ 71,784,456 Mortgage loans payable $ 27,500,000 $ — Deduct: Deferred financing costs, less accumulated amortization (280,894 ) — Mortgage loans payable, net $ 27,219,106 $ —

RELATED PARTY ARRANGEMENTS

RELATED PARTY ARRANGEMENTS	12 Months Ended
	Dec. 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 is for a one -year term and is renewable annually upon the review and approval of the Company's board of directors, including the approval of a majority of the Company's independent directors. The Advisory Agreement has a current expiration date of January 20, 2018. There is no limit to the number of terms for which the Advisory Agreement can be renewed. Fees Under the Advisory Agreement, RREEF America can earn an advisory fee split between two components as described below. 1. The fixed component accrues daily in an amount equal to 1/365th of 1.0% of the Company's NAV for each class of shares for such day. The fixed component did not begin to be earned until January 22, 2015, which was the date on which the Company's combined NAV for all share classes reached $50,000,000 . The fixed component of the advisory fee is payable monthly in arrears. 2. The performance component is calculated for each class of shares on the basis of the total return to stockholders and is measured by the total distributions per share paid to such class plus the change in the NAV per share for such class. For any calendar year in which the total return per share allocable to a class exceeds 6% per annum, RREEF America will receive 25% of the excess total return allocable to that class; provided, however, that in no event will the performance component exceed 10% of the aggregate total return allocable to such class for such year. The performance component earned by RREEF America for each class is subject to certain other adjustments which do not apply unless the NAV per share is below $12.00 per share. The performance component is payable annually in arrears. The fees earned by RREEF America for the years ended December 31, 2016, 2015 and 2014 are shown below. As the Company's combined NAV reached $50,000,000 on January 22, 2015, RREEF America commenced earning the fixed component of the advisory fee as of that date. Prior to that date, no fixed component of the advisory fee was earned by RREEF America. RREEF America waived the performance component earned for the years ended December 31, 2015 and 2014. December 31, 2016 December 31, 2015 December 31, 2014 Fixed component $ 900,726 $ 607,614 $ — Performance component 274,905 — — $ 1,175,631 $ 607,614 $ — Expense Reimbursements Under the Advisory Agreement, RREEF America is entitled to reimbursement of certain costs incurred by RREEF America or its affiliates that are not incurred under the Expense Support Agreement, as discussed below. Costs eligible for reimbursement, if they were not incurred under the Expense Support Agreement, include most third-party operating expenses, salaries and related costs of its employees who perform services for the Company (but not those employees for which RREEF America earns a separate fee or those employees who are executive officers of the Company) and travel related costs for its employees who incur such costs on behalf of the Company. Reimbursement payments to RREEF America are subject to the limitations described below under Reimbursement Limitations. For the years ended December 31, 2016 and 2015 , RREEF America incurred $276,633 and $22,242 in reimbursable operating expenses, respectively, that were subject to the terms and conditions of the Advisory Agreement. As of December 31, 2016 and 2015 , the Company had a payable to RREEF America of $72,200 and zero , respectively, for operating expenses reimbursable under the Advisory Agreement. Organization and Offering costs Under the Advisory Agreement, RREEF America agreed to pay all of the Company’s organization and offering costs incurred through January 3, 2013. In addition, RREEF America agreed to pay certain of the Company’s organization and offering costs from January 3, 2013 through January 3, 2014 that were incurred in connection with certain offering related activities. In total, RREEF America incurred $4,618,318 of these costs (the “Deferred O&O”) on behalf of the Company from the Company’s inception through January 3, 2014. Pursuant to the Advisory Agreement, the Company began reimbursing RREEF America monthly for the Deferred O&O on a straight-line basis over 60 months beginning in January 2014. However, if the Advisory Agreement is terminated by RREEF America, then the unpaid balance of Deferred O&O is payable to RREEF America within 30 days. For the years ended December 31, 2016 and 2015 , the Company reimbursed RREEF America $925,687 and $923,158 , respectively. The amount of Deferred O&O payable to RREEF America is as follows: December 31, 2016 December 31, 2015 Total Deferred O&O $ 4,618,318 $ 4,618,318 Cumulative reimbursements made to RREEF America (2,766,943 ) (1,841,257 ) Remaining Deferred O&O reimbursable to RREEF America $ 1,851,375 $ 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 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. The balance of $9,200,000 in Expense Payments consisted of $3,775,369 in organization and offering costs for the Initial Public Offering, $195,450 of offering costs for the Private Offering 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 would reimburse RREEF America $250,000 per quarter (the "Quarterly Reimbursement"). The Quarterly Reimbursements were scheduled to continue until RREEF America is fully repaid for all Expense Payments. In accordance with the quarterly reimbursement schedule, the Company's obligation to reimburse RREEF America represented 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 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 was to 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 payment of $250,000 to RREEF America and amortized $91,726 of the discount into interest expense. 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 $500,000,000 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. The execution of the Letter Agreement represents a modification of the Note to Affiliate, and as such, the unamortized discount on the Note to Affiliate as of April 25, 2016 will instead be amortized over the estimated repayment period pursuant to the Letter Agreement. In accordance therewith, the Company is amortizing the remaining discount using an interest rate of 1.93% . As of December 31, 2016, the Company has amortized $209,772 of the discount on the Note to Affiliate into interest expense. 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. Dealer Manager Agreement Effective July 1, 2016, the Company and the Operating Partnership terminated the amended and restated dealer manager agreement, dated as of January 26, 2016, with SC Distributors, Inc. On July 1, 2016, the Company and its Operating Partnership entered into the New Dealer Manager Agreement with the New Dealer Manager. The New Dealer Manager Agreement governs the distribution by the New Dealer Manager of the Company’s Class A shares, Class I shares, Class N shares and Class T shares of common stock in the Company’s Follow-On Public Offering and any subsequent registered public offering. The New Dealer Manager is an affiliate of RREEF America. In connection with the ongoing Trailing Fees to be paid in the future, the Company and the New Dealer Manager entered into an agreement whereby the Company will pay to the New Dealer Manager the Trailing Fees that are attributable to the Company's shares issued in the Initial Public Offering that remain outstanding. In addition, the Company is obligated to pay to the New Dealer Manager Trailing Fees that are attributable to the Company's shares issued in the Follow-On Public Offering. As of December 31, 2016 , the Company has accrued $60,515 in Trailing Fees payable to the New Dealer Manager, and the Company has accrued $2,352,711 in Trailing Fees estimated to become payable in the future to the New Dealer Manager, both of which are included in due to affiliates on the consolidated balance sheets. We also pay the New Dealer Manager upfront selling commissions and upfront dealer manager fees in connection with our Offerings, as applicable. For the year ended December 31, 2016 , the New Dealer Manager has earned upfront selling commissions and upfront dealer manager fees totaling $6,145 . Under the New Dealer Manager Agreement, the Company is obligated to reimburse the New Dealer Manager for certain offering costs incurred by the New Dealer Manager on the Company's behalf, including but not limited to broker-dealer sponsorships, attendance fees for retail seminars conducted by broker-dealers, and travel costs for certain personnel of the New Dealer Manager who are dedicated to the distribution of the Company's shares of common stock. For the year ended December 31, 2016 , the New Dealer Manager incurred $150,132 in such costs on behalf of the Company, all of which was payable to the New Dealer Manager and included in due to affiliates on the consolidated balance sheet as of December 31, 2016 . Reimbursement Limitations Organization and Offering costs The Company will not reimburse RREEF America for any organization and offering costs which would cause the Company's total organization and offering costs with respect to a public Offering to exceed 15% of the gross proceeds from such public Offering. Further, the Company will not reimburse RREEF America for any underwriting compensation (a subset of organization and offering costs) which would cause the total underwriting compensation with respect to a public Offering to exceed 10% of the gross proceeds from the primary portion of such public Offering. As of December 31, 2016 , the Company had raised $102,831,442 in gross proceeds from the Initial Public Offering. A summary of the Company's total organization and offering costs for the Initial Public Offering is shown below. Deferred O&O - RREEF America Expense Payments - O&O Portion Other organization and offering costs (1) Total organization and offering costs Balance, December 31, 2015 $ 4,618,318 $ 3,775,369 $ 4,221,760 $ 12,615,447 Additions — — 2,809,269 2,809,269 Balance, December 31, 2016 $ 4,618,318 $ 3,775,369 $ 7,031,029 $ 15,424,716 (1) Includes $2,010,409 and $1,622,941 of accrued trailing fees for the Initial Public Offering as of December 31, 2016 and 2015, respectively. As of December 31, 2016 , in the Follow-On Public Offering, the Company had raised $7,287,594 in gross proceeds and incurred total organization and offering costs of $970,354 , including estimated accrued Trailing Fees payable in the future of $342,302 . 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 are justified based on unusual and non-recurring factors. For the four fiscal quarters ended December 31, 2016 , total operating expenses of the Company were $3,260,955 , which exceeded the 2% / 25% Guidelines by $149,133 , and RREEF America will reimburse the Company for such excess amount. Due to Affiliates and Note to Affiliate In accordance with all the above, as of December 31, 2016 and 2015 , the Company owed RREEF America and the New Dealer Manager the following amounts: December 31, 2016 December 31, 2015 Deferred O&O $ 1,851,375 $ 2,777,061 Expense Payments — 9,200,000 Reimbursable under the Advisory Agreement 72,200 — Reimbursable under the New Dealer Manager Agreement 150,132 — Advisory fees 357,985 64,671 Accrued Trailing Fees 2,413,225 — Due to affiliates $ 4,844,917 $ 12,041,732 Note to Affiliate $ 8,950,000 Unamortized discount (1,652,108 ) Note to Affiliate, net of unamortized discount $ 7,297,892

CAPITALIZATION

CAPITALIZATION	12 Months Ended
	Dec. 31, 2016
Capitalization [Abstract]
CAPITALIZATION	CAPITALIZATION Under the Company's charter, through December 31, 2016 , the Company had 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 annual dealer manager fees of 0.55% and distribution fees of 0.50% of NAV, both paid on a trailing basis. Class I shares are subject to annual dealer manager fees of 0.55% of NAV paid in a trailing basis, but are not subject to any selling commissions or distribution fees. Through December 31, 2016 , Class T shares were subject to selling commissions of up to 3% of the purchase price, an up-front dealer manager fee of 2.75% of the purchase price, and annual distribution fees of 1.0% of NAV 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. On February 16, 2017, the Company amended its charter to change the compensation structure of its Class T shares. As amended, Class T shares are subject to selling commissions of up to 3% of the purchase price, an up-front dealer manager fee of 2.50% of the purchase price, and annual distribution fees of 1.0% of NAV paid on a trailing basis for approximately three years. The number of authorized shares of each class of common stock was not changed in this amendment. Class N shares are not sold in the primary portion of a public Offering, but will be issued upon conversion of an investor's Class T shares once (i) the investor's Class T share account for a given public Offering has incurred a specified amount of commissions, dealer manager fees and distribution fees, not to exceed 8.5% of the investor's purchase price of the Class T shares purchased in the primary portion of such public Offering; (ii) the total underwriting compensation from whatever source with respect to a public Offering exceeds 10% of the gross proceeds from the primary portion of such public Offering; (iii) a listing of the Class N shares; or (iv) the Company's merger or consolidation with or into another entity or the sale or after disposition of all or substantially all of the Company's assets. 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 common stock or the number of shares of any class or series that the Company has authority to issue. Distribution Reinvestment Plan The Company has adopted a distribution reinvestment plan that will allow stockholders to have the cash distributions attributable to the class of shares that the stockholder owns automatically invested in additional shares of the same class. Shares are offered pursuant to the Company's distribution reinvestment plan at the NAV per share applicable to that class, calculated as of the distribution date and after giving effect to all distributions. Stockholders who elect to participate in the distribution reinvestment plan, and who are subject to U.S. federal income taxation laws, will incur a tax liability on an amount equal to the fair value on the relevant distribution date of the shares of the Company's common stock purchased with reinvested distributions, even though such stockholders have elected not to receive the distributions used to purchase those shares of the Company's common stock in cash. Redemption Plan In an effort to provide the Company's stockholders with liquidity in respect of their investment in shares of the Company's common stock, the Company has adopted a redemption plan whereby on a daily basis stockholders may request the redemption of all or any portion of their shares. The redemption price per share is equal to the Company's NAV per share of the class of shares being redeemed on the date of redemption. The total amount of redemptions in any calendar quarter will be limited to shares whose aggregate value (based on the redemption price per share on the date of the redemption) is equal to 5% of the Company's combined NAV for all classes of shares as of the last day of the previous calendar quarter. In addition, if redemptions do not reach the 5% limit in a calendar quarter, the unused portion generally will be carried over to the next quarter and not any subsequent quarter, except that the maximum amount of redemptions during any quarter may never exceed 10% of the combined NAV for all classes of shares as of the last day of the previous calendar quarter. If the quarterly volume limitation is reached on or before the third business day of a calendar quarter, redemption requests during the next quarter will be satisfied on a stockholder by stockholder basis, which the Company refers to as a per stockholder allocation, instead of a first-come, first-served basis. Pursuant to the per stockholder allocation, each stockholder would be allowed to request redemption at any time during such quarter of a total number of shares not to exceed 5% of the shares of common stock the stockholder held as of the end of the prior quarter. The per stockholder allocation requirement will remain in effect for each succeeding quarter for which the total redemptions for the immediately preceding quarter exceeded 4% of the Company's NAV on the last business day of such preceding quarter. If total redemptions during a quarter for which the per stockholder allocation applies are equal to or less than 4% of the Company's NAV on the last business day of such preceding quarter, then redemptions will again be satisfied on a first-come, first-served basis for the next succeeding quarter and each quarter thereafter. Each redemption request will be evaluated by the Company in consideration of rules and regulations promulgated by the Internal Revenue Service with respect to dividend equivalent redemptions. Redemptions that may be considered dividend equivalent redemptions may adversely affect the Company or its stockholders. Accordingly, the Company may reject any redemption request that it reasonably believes may be treated as a dividend equivalent redemption. While there is no minimum holding period, shares redeemed within 365 days of the date of the initial purchase will be redeemed at the Company's NAV per share of the class of shares being redeemed on the date of redemption less a short-term trading discount equal to 2% of the gross proceeds otherwise payable with respect to the redemption. In the event that any stockholder fails to maintain a minimum balance of $500 worth of shares of common stock, the Company may redeem all of the shares held by that stockholder at the redemption price per share in effect on the date it is determined that the stockholder has failed to meet the minimum balance, less the short-term trading discount of 2% , if applicable. Minimum account redemptions will apply even in the event that the failure to meet the minimum balance is caused solely by a decline in the Company's NAV. During the years ended years ended December 31, 2016, 2015 and 2014 , redemption requests were received as shown below. The Company funded these redemptions with cash flow from operations and borrowings on the Wells Fargo Line of Credit. The weighted average redemption prices are shown before allowing for any applicable 2% short-term trading discounts. Total for year ended December 31, 2016 Shares Weighted Average Share Price Amount Class A 709,572 $ 12.93 $ 9,170,461 Class I 84,614 13.15 1,111,990 Class T — — — Total for year ended December 31, 2015 Shares Weighted Average Share Price Amount Class A 73,780 $ 12.71 $ 937,876 Class I 274,878 12.78 3,513,911 Total for year ended December 31, 2014 Shares Weighted Average Share Price Amount Class A 10,008 $ 12.23 $ 122,388 Class I 60,391 12.67 765,272 The Company's board of directors has the discretion to suspend or modify the redemption plan at any time, including in circumstances where it (1) determines that such action is in the best interest of the Company's stockholders, (2) determines that it is necessary due to regulatory changes or changes in law or (3) becomes aware of undisclosed material information that it believes should be publicly disclosed before shares are redeemed. In addition, the Company's board of directors may suspend the Follow-On Public Offering, including the redemption plan, if it determines that the calculation of NAV is materially incorrect or there is a condition that restricts the valuation of a material portion of the Company's assets. If the board of directors materially amends (including any reduction of the quarterly limit) or suspends the redemption plan during any quarter, other than any temporary suspension to address certain external events unrelated to the Company's business, any unused portion of that quarter’s 5% limit will not be carried forward to the next quarter or any subsequent quarter.

DISTRIBUTIONS

DISTRIBUTIONS	12 Months Ended
	Dec. 31, 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 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 2016, 2015 and 2014 . Three Months Ended Total March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00179534 $ 0.00177203 $ 0.00181182 $ 0.00182234 Distributions paid or payable in cash $ 633,913 $ 631,394 $ 670,484 $ 699,572 $ 2,635,363 Distributions reinvested 407,009 457,276 504,020 513,834 1,882,139 Distributions declared $ 1,040,922 $ 1,088,670 $ 1,174,504 $ 1,213,406 $ 4,517,502 Class A shares issued upon reinvestment 18,860 21,726 24,151 23,973 88,710 Class I shares issued upon reinvestment 12,476 13,284 14,159 14,540 54,459 Class T shares issued upon reinvestment — — — — — Three Months Ended Total March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00175668 $ 0.00176456 $ 0.00173533 $ 0.00173613 Distributions paid or payable in cash $ 294,197 $ 455,114 $ 524,375 $ 559,898 $ 1,833,584 Distributions reinvested 358,056 310,384 311,644 362,491 1,342,575 Distributions declared $ 652,253 $ 765,498 $ 836,019 $ 922,389 $ 3,176,159 Class A shares issued upon reinvestment 11,126 13,684 15,386 16,598 56,794 Class I shares issued upon reinvestment 16,669 10,679 9,204 11,551 48,103 Three Months Ended Total March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Declared daily distribution rate, before adjustment for class-specific expenses $0.00167167 $ 0.00169307 $ 0.00169924 $ 0.00173473 Distributions paid or payable in cash $ 130,908 $ 154,435 $ 200,365 $ 248,896 $ 734,604 Distributions reinvested 217,739 242,092 278,194 309,211 1,047,236 Distributions declared $ 348,647 $ 396,527 $ 478,559 $ 558,107 $ 1,781,840 Class A shares issued upon reinvestment 5,162 6,244 8,109 9,145 28,660 Class I shares issued upon reinvestment 12,505 13,296 14,125 15,022 54,948

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company elected taxation as a REIT for federal income tax purposes for the year ended December 31, 2013. In each calendar year that the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal income tax to the extent it meets certain criteria and distributes its REIT taxable income to its stockholders. Distributions declared and paid by the Company may consist of ordinary income, qualifying dividends, return of capital, capital gains or a combination thereof. The characterization of the distributions into these various components will impact how the distributions are taxable to the stockholder who received them. Distributions to the extent of our current and accumulated earnings and profits for federal income tax purposes are taxable to the recipient as either ordinary dividend income or capital gain distributions. Distributions in excess of these earnings and profits (calculated for income tax purposes) constitute a non-taxable return of capital rather than ordinary dividend income or a capital gain distribution and reduce the recipient’s basis in the shares to the extent thereof. Distributions in excess of earnings and profits that reduce a recipient’s basis in the shares have the effect of deferring taxation of the amount of the distribution until the sale of the stockholder’s shares. If the recipient's basis is reduced to zero, distributions in excess of the aforementioned earnings and profits (calculated for income tax purposes) constitute taxable gain. The characterization of the distributions is generally determined during the month of January following the close of the tax year, and is as follows for the years ended December 31, 2016, 2015 and 2014 : Characterization Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Ordinary income 22.9152 % 20.6151 % 4.2962 % Capital gain distribution 1.5666 0.4423 0.3375 Nondividend distributions (return of capital) 75.5182 78.9426 95.3663 Total 100.0000 % 100.0000 % 100.0000 % Income and similar taxes paid to certain states where the Company owns real estate properties were $6,221 , $28,549 and $5,850 for the years ended December 31, 2016, 2015 and 2014 , respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION For the years ended December 31, 2016, 2015 and 2014 , the Company had two segments with reportable information: Real Estate Properties and Real Estate Equity Securities. The Company organizes and analyzes the operations and results of each of these segments independently, due to inherently different considerations for each segment. Such considerations include, but are not limited to, the nature and characteristics of the investment, and investment strategies and objectives. The following tables set forth the carrying value, revenue and the components of operating income of the Company's segments reconciled to total assets as of December 31, 2016, and 2015 and net loss for the years ended December 31, 2016, 2015 and 2014 . Real Estate Properties Real Estate Equity Securities Total Carrying value as of December 31, 2016 $ 158,837,707 $ 8,609,212 $ 167,446,919 Reconciliation to total assets of December 31, 2016 Carrying value per reportable segments $ 167,446,919 Corporate level assets 6,742,528 Total assets $ 174,189,447 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 Real Estate Properties Real Estate Equity Securities Total Year Ended December 31, 2016 Revenues Rental and other property income $ 15,102,464 $ — $ 15,102,464 Tenant reimbursement income 1,514,772 — 1,514,772 Investment income on marketable securities — 484,912 484,912 Total revenues 16,617,236 484,912 17,102,148 Operating expenses Property operating expenses 5,158,942 — 5,158,942 Total segment operating expenses 5,158,942 — 5,158,942 Operating income - Segments $ 11,458,294 $ 484,912 $ 11,943,206 Year Ended December 31, 2015 Revenues Rental and other property income $ 8,050,514 $ — $ 8,050,514 Tenant reimbursement income 1,066,073 — 1,066,073 Investment income on marketable securities — 284,627 284,627 Total revenues 9,116,587 284,627 9,401,214 Operating expenses Property operating expenses 2,118,849 — 2,118,849 Total segment operating expenses 2,118,849 — 2,118,849 Operating income - Segments $ 6,997,738 $ 284,627 $ 7,282,365 Year Ended December 31, 2014 Revenues Rental and other property income $ 4,591,711 $ — $ 4,591,711 Tenant reimbursement income 593,845 — 593,845 Investment income on marketable securities — 133,208 133,208 Total revenues 5,185,556 133,208 5,318,764 Operating expenses Property operating expenses 1,007,235 — 1,007,235 Total segment operating expenses 1,007,235 — 1,007,235 Operating income - Segments $ 4,178,321 $ 133,208 $ 4,311,529 Year Ended December 31, Reconciliation to net loss 2016 2015 2014 Operating income - Segments $ 11,943,206 $ 7,282,365 $ 4,311,529 General and administrative expenses (2,091,416 ) (2,012,137 ) (2,232,336 ) Advisory expenses (1,175,631 ) (607,614 ) — Acquisition related expenses (158,762 ) (603,539 ) (333,554 ) Depreciation (3,826,198 ) (2,233,667 ) (1,097,034 ) Amortization (6,803,850 ) (2,735,138 ) (1,461,422 ) Operating loss (2,112,651 ) (909,730 ) (812,817 ) Interest expense (2,427,110 ) (1,330,601 ) (1,078,124 ) Net realized gain upon sale of marketable securities 193,285 12,635 91,837 Net loss $ (4,346,476 ) $ (2,227,696 ) $ (1,799,104 )

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	12 Months Ended
	Dec. 31, 2016
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY The Company depends on RREEF America and the New Dealer Manager for certain services that are essential to the Company, including the sale of the Company's shares of common stock, asset acquisition and disposition decisions and other general and administrative responsibilities. In the event that RREEF America or the Dealer Manager is unable to provide such services, the Company would be required to find alternative service providers.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 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.

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	QUARTERLY RESULTS (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016, 2015 and 2014 . For the Quarter Ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Revenues from real estate investments $ 3,594,295 $ 3,544,749 $ 5,110,510 $ 4,367,682 Investment income on marketable securities 190,516 73,813 100,314 120,269 Total revenues 3,784,811 3,618,562 5,210,824 4,487,951 Operating expenses (4,534,041 ) (4,297,957 ) (6,153,150 ) (4,229,651 ) Interest expense (565,707 ) (550,654 ) (541,561 ) (769,188 ) Net realized (loss) gain upon sale of marketable securities (94,945 ) 223,991 243,689 (179,450 ) Net loss $ (1,409,882 ) $ (1,006,058 ) $ (1,240,198 ) $ (690,338 ) Weighted average number of common shares outstanding 6,376,234 6,757,026 7,046,836 7,240,957 Net loss per common share $ (0.22 ) $ (0.15 ) $ (0.18 ) $ (0.09 ) For the Quarter Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues from real estate investments $ 2,050,233 $ 2,053,027 $ 2,109,836 $ 2,903,491 Investment income on marketable securities 47,045 59,747 68,310 109,525 Total revenues 2,097,278 2,112,774 2,178,146 3,013,016 Operating expenses (2,227,469 ) (1,985,045 ) (2,493,627 ) (3,604,803 ) Interest expense (462,448 ) (258,315 ) (249,343 ) (360,495 ) Net realized gain (loss) upon sale of marketable securities 179,304 (83,104 ) (71,771 ) (11,794 ) Net loss $ (413,335 ) $ (213,690 ) $ (636,595 ) $ (964,076 ) Weighted average number of common shares outstanding 4,134,878 4,771,626 5,251,033 5,780,744 Net loss per common share $ (0.10 ) $ (0.04 ) $ (0.12 ) $ (0.17 ) For the Quarter Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues from real estate investments $ 594,467 $ 952,394 $ 1,555,194 $ 2,083,501 Investment income on marketable securities 25,521 26,715 29,616 51,356 Total revenues 619,988 979,109 1,584,810 2,134,857 Operating expenses (1,052,850 ) (1,370,943 ) (1,863,350 ) (1,844,438 ) Interest expense (128,088 ) (220,538 ) (310,450 ) (419,048 ) Net realized (loss) gain upon sale of marketable securities (26,567 ) 36,165 29,182 53,057 Net loss $ (587,517 ) $ (576,207 ) $ (559,808 ) $ (75,572 ) Weighted average number of common shares outstanding 2,320,089 2,577,389 3,068,502 3,499,520 Net loss per common share $ (0.25 ) $ (0.22 ) $ (0.18 ) $ (0.02 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 12, 2017 , the Company announced that its board of directors declared a cash distribution equal to $0.00183555 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 January 1, 2017 through March 31, 2017 .

SCHEDULE III Real Estate and Ac

SCHEDULE III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III Real Estate and Accumulated Depreciation	RREEF PROPERTY TRUST, INC. SCHEDULE III Real Estate and Accumulated Depreciation December 31, 2016 Initial cost (A) Gross Amount at Which Carried at December 31, 2016 (B) Property Name Encumbrance Land Buildings & Improvements (F) Capitalized Cost Subsequent to Acquisition Land, Buildings & Improvements Total (C) Accumulated Depreciation and Amortization (D) Date Constructed Date Acquired Depreciable Lives 9022 Heritage Parkway, Woodridge, IL, Office (E) $ 7,067,680 $ 2,310,684 $ 10,989,316 $ — $ 13,300,000 $ (3,531,789 ) 2002 5/31/2013 5 - 40 Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail) (E) 6,767,760 3,713,306 9,014,642 — 12,727,948 (1,063,660 ) 1916 12/18/2013 5 - 40 Commerce Corner, Logan Township, NJ, Industrial (G) 13,000,000 3,396,680 16,353,320 — 19,750,000 (1,710,989 ) 1998 4/11/2014 5 - 40 Anaheim Hills Office Plaza, Anaheim, CA, Office (E) 9,916,920 6,519,531 11,980,469 — 18,500,000 (2,840,639 ) 2008 7/2/2014 5 - 40 Shops at Terra Nova Plaza, Chula Vista, CA, Retail (E) 11,703,400 10,628,293 11,221,707 — 21,850,000 (1,490,015 ) 1986 10/2/2014 5 - 40 The Flats at Carrs Hill, Athens, GA, University of GA Student Housing (H) 14,500,000 3,143,752 23,856,248 129,191 27,129,191 (3,463,105 ) 2013 9/30/2015 5 - 27.5 Loudoun Gateway I, Sterling, VA, Office (E) 11,670,800 2,042,441 19,907,559 — 21,950,000 (1,980,627 ) 1998 12/21/2015 5 - 40 40 Allied Drive, Dedham, MA, Medical Office (E) 18,073,440 5,483,925 28,516,075 — 34,000,000 (349,224 ) 2013 9/27/2016 5 - 40 Total Investments in Real Estate $ 92,700,000 $ 37,238,612 $ 131,839,336 $ 129,191 $ 169,207,139 $ (16,430,048 ) (A) The initial cost to the Company represents the original purchase price of the property. (B) The aggregate cost of real estate owned at December 31, 2016 for federal income tax purposes was approximately $170,889,054 (unaudited). (C) Reconciliation of real estate owned for the years ended December 31: 2016 2015 2014 Balance at January 1 $ 135,082,125 $ 86,127,948 $ 26,027,948 Acquisitions 34,000,000 48,950,000 60,100,000 Additions 125,014 4,177 — Balance at December 31 $ 169,207,139 $ 135,082,125 $ 86,127,948 (D) Reconciliation of accumulated depreciation and amortization for the years ended December 31: 2016 2015 2014 Balance at January 1 $ 7,635,728 $ 3,039,314 $ 600,764 Depreciation and amortization expense 8,794,320 4,596,414 2,438,550 Balance at December 31 $ 16,430,048 $ 7,635,728 $ 3,039,314 (E) Encumbrance of $65,200,000 is from the line of credit that is secured by the properties listed above. (F) Includes gross intangible lease assets of $36,795,334 and gross intangible lease liabilities of $8,683,755 . (G) Commerce Corner has an encumbrance of $13,000,000 from Hartford Life Insurance Company. (H) Flats at Carrs Hill has an encumbrance of $14,500,000 from Nationwide Life Insurance Company.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), the authoritative reference for U.S. generally accepted accounting principles (“GAAP”). The Company adjusted its accounting for trailing fees, as described below, which resulted in an immaterial correction to the consolidated financial statements. Otherwise, there have been no significant changes to the Company's significant accounting policies during the year ended December 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.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value and may consist of investments in money market accounts. There are no restrictions on the use of the Company’s cash and cash equivalents.
Real Estate Investments and Lease Intangibles	Real Estate Investments and Lease Intangibles Real estate investments are stated at cost less accumulated depreciation and amortization. Buildings and improvements are depreciated utilizing the straight-line method over an estimated useful life of 20 to 40 years for industrial, retail and office properties, and 27.5 years for residential. Tenant improvements and lease commissions are amortized to expense over the terms of the respective tenant leases. Lease incentives are amortized as an offset to revenue over the terms of the respective tenant leases. Furniture and equipment is depreciated over an estimated useful life ranging from 5 to 7 years. Costs related to the acquisition of properties, as well as ongoing, ordinary repair and maintenance costs, are expensed as incurred. In accordance with FASB ASC 805, Business Combinations, and FASB ASC 350, Intangibles—Goodwill and Other, acquisitions of properties are accounted for utilizing the acquisition method and, accordingly, the results of operations of acquired properties will be included in the Company’s results of operations from their respective dates of acquisition. Estimates of future cash flows and other valuation techniques believed to be similar to those used by independent appraisers are used to allocate the purchase price of identifiable assets acquired and liabilities assumed such as land, buildings and improvements, equipment and identifiable intangible assets and liabilities such as amounts related to in-place leases, acquired above- and below-market leases, tenant relationships, asset retirement obligations and mortgage loans payable. Values of buildings and improvements are determined on an as-if-vacant basis. Initial allocations are subject to change until such information is finalized, which may be no later than 12 months from the acquisition date. The estimated fair value of acquired in-place leases are the costs the Company would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include the fair value of leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, the Company evaluates the time period over which such occupancy levels would be achieved. Such evaluation will include an estimate of the net market-based rental revenues and net operating costs (primarily consisting of forgone rents, real estate taxes, recoverable charges and insurance) that would be incurred during the lease-up period, which generally ranges up to one year. Acquired in-place leases as of the date of acquisition are amortized over the remaining lease terms into amortization expense. Acquired above- and below-market lease values are estimated based on the present value (using an interest rate that reflects the risks associated with the lease acquired) of the difference between the contractual amounts to be paid pursuant to the in-place leases and the Company’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized to rental revenue over the remaining terms of the respective leases, which include, for below-market leases, periods covered by bargain fixed-rate renewal options if, at the time of acquisition, the exercise of such renewal options are determined to be reasonably assured. If a lease is terminated prior to its scheduled expiration, the unamortized portion of the in-place lease is charged to amortization expense and the unamortized portion of the above- or below-market lease is charged to rental revenue. The carrying value of the real estate investments are reviewed to ascertain if there are any indicators of impairment. Factors considered include the type of asset, the economic situation in the area in which the asset is located, the economic situation in the industry in which a tenant is involved and the timeliness of the payments made by a tenant under its lease, as well as any current correspondence that may have been had with a tenant, including property inspection reports. A real estate investment is impaired if the undiscounted cash flows over the expected hold period are less than the real estate investment’s carrying amount. In this case, an impairment loss will be recorded to the extent that the estimated fair value is lower than the real estate investment’s carrying amount. The estimated fair value is determined primarily using information contained within independent appraisals obtained quarterly by the Company from its independent valuation agent. Real estate investments that are expected to be disposed of are valued at the lower of carrying amount or estimated fair value less costs to sell.
Investments in Marketable Securities	Investments in Marketable Securities In accordance with the Company’s investment guidelines as approved by the Company’s board of directors, investments in marketable securities may consist of common and preferred stock of publicly-traded REITs and other real estate operating companies. The Company determines the appropriate classification for these securities at the time of purchase and reevaluates such designation as of each balance sheet date. As of December 31, 2016 and 2015, the Company classified its investments in marketable securities as available-for-sale as the Company intends to hold the securities for the purpose of collecting dividend income and for longer term price appreciation. These investments are carried at their estimated fair value based on published prices for each security. Unrealized gains and losses are reported in accumulated other comprehensive income (loss). Any non-temporary decline in the market value of an available-for-sale security below cost results in a reduction in the carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. When a security is impaired, the Company considers whether it has the ability and intent to hold the investment for a time sufficient to allow for any anticipated recovery in market value and considers whether evidence indicating the cost of the investment being recoverable outweighs evidence to the contrary. Evidence considered in this assessment includes the reasons for the impairment, the severity and duration of the impairment, changes in value subsequent to period end and forecasted performance of the investee. Securities may be sold if the Company believes a security has attained its target maximum value or if other conditions exist whereby the Company believes that the value of its investment in a particular security has a larger than desired risk of declining. The Company considers many factors in determining whether to hold or sell a security, including, but not limited to, recent events specific to the issuer or industry, external credit ratings and recent changes in such ratings. Upon the sale of a particular security, the realized net gain or loss is computed assuming the shares with the highest cost are sold first.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs are the direct costs associated with obtaining financing. Such costs include commitment fees, legal fees and other third-party costs associated with obtaining commitments for financing that result in a closing of such financing. The Company capitalizes these costs and amortizes them on a straight-line basis, which approximates the effective interest method, over the terms of the obligations, once the loan process is completed. Amortization of deferred financing costs is included in interest expense in the consolidated statements of operations. The unamortized portion of deferred financing costs is reflected as a reduction of the outstanding debt balance on the consolidated balance sheets.
Borrowings	Borrowings The Company may obtain various forms of borrowings from market participants. Generally, borrowings originated by the Company will be recorded at amortized cost. The Company may also assume borrowings in connection with acquisitions. The Company will estimate the fair value of assumed borrowings based upon indications of then-current market pricing for similar types of debt with similar maturities. The assumed borrowings will initially be recorded at their estimated fair value as of the assumption date, with the difference between such estimated fair value and the borrowings’ outstanding principal balance being amortized over the remaining life of the borrowing.
Revenue Recognition	Revenue Recognition Rental revenue from real estate investments is recognized on a straight-line basis over the terms of the related leases. The differences between rental revenue earned from real estate investments and amounts due under the respective lease agreements are amortized or accreted, as applicable, to deferred rent receivable. Rental revenue will also include amortization of above- and below-market leases, as well as amortization of lease incentives. Revenues relating to lease termination fees will be recognized at the time that a tenant’s right to occupy the leased space is terminated and collectability is reasonably assured. Also included in rental revenue are tenant reimbursements of certain operating expenses determined in accordance with the terms of the lease agreements. Investment income from marketable securities is accrued at the time the income becomes payable to the Company.
Organization and Offering Expenses	Organization and Offering Expenses Organizational expenses and other expenses which do not qualify as offering costs are expensed as incurred from and after the commencement of operations. Offering costs are those costs incurred by the Company, RREEF America and its affiliates on behalf of the Company which relate directly to the Company’s activities of raising capital in the 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 the dealer managers for the public offerings, 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 managers for amounts that they 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 each of the Initial Public Offering and the Follow-On Public Offering will not exceed 15% of the gross proceeds from the Initial Public Offering or the Follow-On Public Offering, respectively. In addition, the Company will not reimburse RREEF America or the New 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 Initial Public Offering or the Follow-On Public Offering, as applicable. Included in offering costs are (1) distribution fees paid on a trailing basis at the rate of (a) 0.50% per annum on the NAV of the Company's outstanding Class A shares, and (b) 1.00% per annum on the NAV of the Company's outstanding Class T shares, and (2) dealer manager fees paid on a trailing basis at the rate of 0.55% per annum on the NAV of the Company's outstanding Class A and Class I shares (collectively, the "Trailing Fees"); provided, however, that the Class I shares owned by RREEF America do not incur a dealer manager fee on a trailing basis. The Trailing Fees are computed daily based on the respective NAV of each share class as of the beginning of each day and paid monthly. However, at each reporting date, the Company accrues an estimate for the amount of Trailing Fees that ultimately may be paid on the outstanding shares. Such estimate reflects the Company's assumptions for certain variables, including future redemptions with respect to each Offering, share price appreciation and the total gross proceeds to be raised during the Follow-On Public Offering. In addition, the estimated accrual for future Trailing Fees as of a given reporting date may be reduced by the aforementioned limits on total organization and offering costs and total underwriting compensation. Changes in this estimate will be recorded prospectively as an adjustment to additional paid in capital.
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), beginning with the year ended December 31, 2013. In order to maintain the Company’s qualification as a REIT, the Company is required to, among other things, distribute as dividends at least 90% of the Company’s REIT taxable income, determined without regard to the dividends-paid deduction and excluding net capital gains, to the Company’s stockholders, and meet certain tests regarding the nature of the Company’s income and assets. If the Company qualifies for taxation as a REIT, the Company generally will not be subject to federal income tax to the extent it meets certain criteria and distributes its REIT taxable income to its stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to (1) certain state and local taxes on its income, property or net worth, and (2) federal income and excise taxes on its undistributed income, if any income remains undistributed. The Company intends to operate in a manner that allows the Company to meet the requirements for taxation as a REIT, including creating taxable REIT subsidiaries to hold assets that generate income that would not be consistent with the rules applicable to qualification as a REIT if held directly by the REIT. If the Company were to fail to meet these requirements, it could be subject to federal income tax on the Company’s taxable income at regular corporate rates. The Company would not be able to deduct distributions paid to stockholders in any year in which it fails to qualify as a REIT. The Company will also be disqualified for the four taxable years following the year during which qualification was lost unless the Company is entitled to relief under specific statutory provisions.
Reportable Segments	Reportable Segments The Company intends to operate in three primary segments: (1) Real Estate Properties, (2) Real Estate Equity Securities, and (3) Real Estate Loans.
Concentration of Credit Risk	Concentration of Credit Risk As of December 31, 2016 , 2015 and 2014, 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.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Correction of Immaterial Understatement of Liabilities		The following table summarizes the effects of this change: As of December 31, 2015 Previously Reported Adjustment Corrected Other liabilities $ 2,193,557 1,622,941 $ 3,816,498 Total liabilities $ 94,366,617 1,622,941 $ 95,989,558 Additional paid in capital $ 64,383,302 (1,622,941 ) $ 62,760,361 Total stockholders' equity $ 53,699,656 (1,622,941 ) $ 52,076,715
Schedules of Concentration of Credit Risk	The Company's tenants representing more than 10% of in-place annualized base rental revenues as of December 31, 2016, 2015 and 2014 were as follows: Percent of in-place annualized base rental revenues as of Tenant - Property December 31, 2016 December 31, 2015 December 31, 2014 Orbital ATK Inc. - Loudoun Gateway 20.3 % 21.6 % — % New England Baptist Hospital - Allied Drive 12.0 — — Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 10.3 11.0 18.9 Allstate Insurance Company - Heritage Parkway — 10.4 18.7 Performance Food Group, Inc. - Commerce Corner — — 12.5 The Sports Authority, Inc. - Terra Nova Plaza — — 11.8 Total 42.6 % 43.0 % 61.9 % Percentages of gross rental revenues by property and tenant representing more than 10% of the Company's total gross rental revenues (rental and other property income and tenant reimbursement income) for the years ended December 31, 2016, 2015 and 2014 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Terra Nova Plaza, Chula Vista, CA (1) 22.3 % 24.5 % 10.7 % Loudoun Gateway, Sterling VA 18.1 1.0 — Flats at Carrs Hill, Athens GA 17.3 7.6 — Anaheim Hills Office Plaza, Anaheim, CA 12.9 22.2 19.7 Commerce Corner, Logan Township, NJ 10.6 19.1 23.6 Heritage Parkway, Woodridge, IL 7.5 13.7 24.1 Wallingford Plaza, Seattle, WA 6.7 11.9 21.9 Total 95.4 % 100.0 % 100.0 % Percent of actual gross rental revenues Tenant - Property Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Orbital ATK Inc. - Loudoun Gateway 18.1 % 1.0 % — % The Sports Authority, Inc. - Terra Nova Plaza (1) 14.1 12.4 5.4 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 8.5 15.2 13.3 Allstate Insurance Company - Heritage Parkway 7.5 13.7 24.1 Bed Bath & Beyond, Inc. - Terra Nova Plaza 6.7 12.2 5.3 Performance Food Group, Inc. - Commerce Corner 6.5 11.6 14.3 Walgreen Company - Wallingford Plaza 3.6 6.3 11.3 Total 65.0 % 72.4 % 73.7 %

REAL ESTATE INVESTMENTS (Tables

REAL ESTATE INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Schedule of Real Estate Acquired, Purchase Price Allocation	The Company allocated the purchase price of the Company's properties to the fair value of the major components of the assets acquired and liabilities assumed, using Level 3 inputs and assumptions, as follows: 2016 Allied Drive Land $ 5,483,925 Building and improvements 19,807,646 Acquired in-place leases 8,861,624 Acquired above-market leases 2,022 Acquired below-market leases (155,217 ) Total purchase price $ 34,000,000 Loudoun Gateway Flats at Carrs Hill 2015 Total Land $ 2,042,441 $ 3,143,752 $ 5,186,193 Building and improvements 9,974,457 21,389,609 31,364,066 Furniture, fixtures and equipment — 361,724 361,724 Acquired in-place leases 9,707,433 2,104,915 11,812,348 Acquired above-market leases 225,669 — 225,669 Total purchase price $ 21,950,000 $ 27,000,000 $ 48,950,000 Commerce Corner Anaheim Hills Office Plaza Terra Nova Plaza 2014 Total Land $ 3,396,679 $ 6,519,531 $ 10,628,293 $ 20,544,503 Building and improvements 14,304,272 9,002,457 14,054,509 37,361,238 Acquired in-place leases 2,258,817 2,830,140 4,228,979 9,317,936 Acquired above-market leases 393,562 220,199 — 613,761 Acquired below-market leases (603,330 ) (72,327 ) (7,061,781 ) (7,737,438 ) Total purchase price $ 19,750,000 $ 18,500,000 $ 21,850,000 $ 60,100,000
Schedule Future Amortization Related to Acquired Intangible Assets and Liabilities	Future amortization related to acquired intangible assets and liabilities as of December 31, 2016 is as follows: Acquired in-place leases Acquired above-market leases Acquired below-market leases 2017 $ 3,671,317 $ 135,282 $ (393,101 ) 2018 3,476,302 108,941 (391,631 ) 2019 2,340,724 82,806 (377,119 ) 2020 2,240,795 80,570 (361,691 ) 2021 2,215,528 80,584 (357,348 ) Thereafter 10,609,652 49,161 (4,179,726 ) Total $ 24,554,318 $ 537,344 $ (6,060,616 )
Schedule of Pro forma revenues and net loss	The Company recorded revenues and net income related to the properties acquired during the years ended December 31, 2016, 2015 and 2014, as follows: Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Revenues $ 768,546 $ 776,026 $ 2,801,262 Net (loss) income $ (153,687 ) $ (1,165,400 ) $ 165,746 The Company's estimated revenues, net loss and net loss per common share, on a pro forma basis (as if the acquisition of Allied Drive was completed on January 1, 2015), are as follows (unaudited): Year Ended December 31, 2016 Year Ended December 31, 2015 Revenues $ 19,038,001 $ 11,939,832 Net loss $ (4,337,457 ) $ (2,783,491 ) Net loss per common share: Basic and diluted $ (0.61 ) $ (0.39 )
Schedule of Rental and Other Property Income	The Company's rental and other property income for the years ended December 31, 2016, 2015 and 2014 is comprised of the following: 2016 2015 2014 Rental revenue $ 12,477,787 $ 7,247,058 $ 4,129,162 Lease incentive amortization (27,542 ) — — Straight-line revenue 836,108 431,065 342,643 Above- and below-market lease amortization 1,816,111 372,391 119,906 Rental and other property income $ 15,102,464 $ 8,050,514 $ 4,591,711
Schedule of Future Minimum Rental Payments	The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of the in-place leases as of December 31, 2016 are as follows: Year ended December 31, Future Minimum Rent 2017 $ 13,522,989 2018 12,024,772 2019 8,967,888 2020 8,819,991 2021 8,812,801 Thereafter 41,478,595 $ 93,627,036

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 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 December 31, 2016 and 2015, which consisted entirely of publicly-traded shares of common stock in REITs as of each date. All marketable securities held as of December 31, 2016 and 2015 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. December 31, 2016 December 31, 2015 Marketable securities—cost $ 8,103,761 $ 7,873,564 Unrealized gains 652,417 827,989 Unrealized losses (146,966 ) (132,549 ) Net unrealized gain 505,451 695,440 Marketable securities—fair value $ 8,609,212 $ 8,569,004

RELATED PARTY ARRANGEMENTS (Tab

RELATED PARTY ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	RREEF America waived the performance component earned for the years ended December 31, 2015 and 2014. December 31, 2016 December 31, 2015 December 31, 2014 Fixed component $ 900,726 $ 607,614 $ — Performance component 274,905 — — $ 1,175,631 $ 607,614 $ — In accordance with all the above, as of December 31, 2016 and 2015 , the Company owed RREEF America and the New Dealer Manager the following amounts: December 31, 2016 December 31, 2015 Deferred O&O $ 1,851,375 $ 2,777,061 Expense Payments — 9,200,000 Reimbursable under the Advisory Agreement 72,200 — Reimbursable under the New Dealer Manager Agreement 150,132 — Advisory fees 357,985 64,671 Accrued Trailing Fees 2,413,225 — Due to affiliates $ 4,844,917 $ 12,041,732 Note to Affiliate $ 8,950,000 Unamortized discount (1,652,108 ) Note to Affiliate, net of unamortized discount $ 7,297,892 A summary of the Company's total organization and offering costs for the Initial Public Offering is shown below. Deferred O&O - RREEF America Expense Payments - O&O Portion Other organization and offering costs (1) Total organization and offering costs Balance, December 31, 2015 $ 4,618,318 $ 3,775,369 $ 4,221,760 $ 12,615,447 Additions — — 2,809,269 2,809,269 Balance, December 31, 2016 $ 4,618,318 $ 3,775,369 $ 7,031,029 $ 15,424,716 (1) Includes $2,010,409 and $1,622,941 of accrued trailing fees for the Initial Public Offering as of December 31, 2016 and 2015, respectively. The amount of Deferred O&O payable to RREEF America is as follows: December 31, 2016 December 31, 2015 Total Deferred O&O $ 4,618,318 $ 4,618,318 Cumulative reimbursements made to RREEF America (2,766,943 ) (1,841,257 ) Remaining Deferred O&O reimbursable to RREEF America $ 1,851,375 $ 2,777,061

DISTRIBUTIONS DISTRIBUTIONS (Ta

DISTRIBUTIONS DISTRIBUTIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Distributions [Abstract]
Schedule of Distributions	Shown below are details of the Company's distributions for 2016, 2015 and 2014 . Three Months Ended Total March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00179534 $ 0.00177203 $ 0.00181182 $ 0.00182234 Distributions paid or payable in cash $ 633,913 $ 631,394 $ 670,484 $ 699,572 $ 2,635,363 Distributions reinvested 407,009 457,276 504,020 513,834 1,882,139 Distributions declared $ 1,040,922 $ 1,088,670 $ 1,174,504 $ 1,213,406 $ 4,517,502 Class A shares issued upon reinvestment 18,860 21,726 24,151 23,973 88,710 Class I shares issued upon reinvestment 12,476 13,284 14,159 14,540 54,459 Class T shares issued upon reinvestment — — — — — Three Months Ended Total March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Declared daily distribution rate, before adjustment for class-specific expenses $ 0.00175668 $ 0.00176456 $ 0.00173533 $ 0.00173613 Distributions paid or payable in cash $ 294,197 $ 455,114 $ 524,375 $ 559,898 $ 1,833,584 Distributions reinvested 358,056 310,384 311,644 362,491 1,342,575 Distributions declared $ 652,253 $ 765,498 $ 836,019 $ 922,389 $ 3,176,159 Class A shares issued upon reinvestment 11,126 13,684 15,386 16,598 56,794 Class I shares issued upon reinvestment 16,669 10,679 9,204 11,551 48,103 Three Months Ended Total March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Declared daily distribution rate, before adjustment for class-specific expenses $0.00167167 $ 0.00169307 $ 0.00169924 $ 0.00173473 Distributions paid or payable in cash $ 130,908 $ 154,435 $ 200,365 $ 248,896 $ 734,604 Distributions reinvested 217,739 242,092 278,194 309,211 1,047,236 Distributions declared $ 348,647 $ 396,527 $ 478,559 $ 558,107 $ 1,781,840 Class A shares issued upon reinvestment 5,162 6,244 8,109 9,145 28,660 Class I shares issued upon reinvestment 12,505 13,296 14,125 15,022 54,948

INCOME TAXES INCOME TAXES (Tabl

INCOME TAXES INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Characteristics of Distributions	The characterization of the distributions is generally determined during the month of January following the close of the tax year, and is as follows for the years ended December 31, 2016, 2015 and 2014 : Characterization Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Ordinary income 22.9152 % 20.6151 % 4.2962 % Capital gain distribution 1.5666 0.4423 0.3375 Nondividend distributions (return of capital) 75.5182 78.9426 95.3663 Total 100.0000 % 100.0000 % 100.0000 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	he following tables set forth the carrying value, revenue and the components of operating income of the Company's segments reconciled to total assets as of December 31, 2016, and 2015 and net loss for the years ended December 31, 2016, 2015 and 2014 . Real Estate Properties Real Estate Equity Securities Total Carrying value as of December 31, 2016 $ 158,837,707 $ 8,609,212 $ 167,446,919 Reconciliation to total assets of December 31, 2016 Carrying value per reportable segments $ 167,446,919 Corporate level assets 6,742,528 Total assets $ 174,189,447 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 Real Estate Properties Real Estate Equity Securities Total Year Ended December 31, 2016 Revenues Rental and other property income $ 15,102,464 $ — $ 15,102,464 Tenant reimbursement income 1,514,772 — 1,514,772 Investment income on marketable securities — 484,912 484,912 Total revenues 16,617,236 484,912 17,102,148 Operating expenses Property operating expenses 5,158,942 — 5,158,942 Total segment operating expenses 5,158,942 — 5,158,942 Operating income - Segments $ 11,458,294 $ 484,912 $ 11,943,206 Year Ended December 31, 2015 Revenues Rental and other property income $ 8,050,514 $ — $ 8,050,514 Tenant reimbursement income 1,066,073 — 1,066,073 Investment income on marketable securities — 284,627 284,627 Total revenues 9,116,587 284,627 9,401,214 Operating expenses Property operating expenses 2,118,849 — 2,118,849 Total segment operating expenses 2,118,849 — 2,118,849 Operating income - Segments $ 6,997,738 $ 284,627 $ 7,282,365 Year Ended December 31, 2014 Revenues Rental and other property income $ 4,591,711 $ — $ 4,591,711 Tenant reimbursement income 593,845 — 593,845 Investment income on marketable securities — 133,208 133,208 Total revenues 5,185,556 133,208 5,318,764 Operating expenses Property operating expenses 1,007,235 — 1,007,235 Total segment operating expenses 1,007,235 — 1,007,235 Operating income - Segments $ 4,178,321 $ 133,208 $ 4,311,529 Year Ended December 31, Reconciliation to net loss 2016 2015 2014 Operating income - Segments $ 11,943,206 $ 7,282,365 $ 4,311,529 General and administrative expenses (2,091,416 ) (2,012,137 ) (2,232,336 ) Advisory expenses (1,175,631 ) (607,614 ) — Acquisition related expenses (158,762 ) (603,539 ) (333,554 ) Depreciation (3,826,198 ) (2,233,667 ) (1,097,034 ) Amortization (6,803,850 ) (2,735,138 ) (1,461,422 ) Operating loss (2,112,651 ) (909,730 ) (812,817 ) Interest expense (2,427,110 ) (1,330,601 ) (1,078,124 ) Net realized gain upon sale of marketable securities 193,285 12,635 91,837 Net loss $ (4,346,476 ) $ (2,227,696 ) $ (1,799,104 )

QUARTERLY RESULTS (UNAUDITED) (

QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016, 2015 and 2014 . For the Quarter Ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Revenues from real estate investments $ 3,594,295 $ 3,544,749 $ 5,110,510 $ 4,367,682 Investment income on marketable securities 190,516 73,813 100,314 120,269 Total revenues 3,784,811 3,618,562 5,210,824 4,487,951 Operating expenses (4,534,041 ) (4,297,957 ) (6,153,150 ) (4,229,651 ) Interest expense (565,707 ) (550,654 ) (541,561 ) (769,188 ) Net realized (loss) gain upon sale of marketable securities (94,945 ) 223,991 243,689 (179,450 ) Net loss $ (1,409,882 ) $ (1,006,058 ) $ (1,240,198 ) $ (690,338 ) Weighted average number of common shares outstanding 6,376,234 6,757,026 7,046,836 7,240,957 Net loss per common share $ (0.22 ) $ (0.15 ) $ (0.18 ) $ (0.09 ) For the Quarter Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues from real estate investments $ 2,050,233 $ 2,053,027 $ 2,109,836 $ 2,903,491 Investment income on marketable securities 47,045 59,747 68,310 109,525 Total revenues 2,097,278 2,112,774 2,178,146 3,013,016 Operating expenses (2,227,469 ) (1,985,045 ) (2,493,627 ) (3,604,803 ) Interest expense (462,448 ) (258,315 ) (249,343 ) (360,495 ) Net realized gain (loss) upon sale of marketable securities 179,304 (83,104 ) (71,771 ) (11,794 ) Net loss $ (413,335 ) $ (213,690 ) $ (636,595 ) $ (964,076 ) Weighted average number of common shares outstanding 4,134,878 4,771,626 5,251,033 5,780,744 Net loss per common share $ (0.10 ) $ (0.04 ) $ (0.12 ) $ (0.17 ) For the Quarter Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues from real estate investments $ 594,467 $ 952,394 $ 1,555,194 $ 2,083,501 Investment income on marketable securities 25,521 26,715 29,616 51,356 Total revenues 619,988 979,109 1,584,810 2,134,857 Operating expenses (1,052,850 ) (1,370,943 ) (1,863,350 ) (1,844,438 ) Interest expense (128,088 ) (220,538 ) (310,450 ) (419,048 ) Net realized (loss) gain upon sale of marketable securities (26,567 ) 36,165 29,182 53,057 Net loss $ (587,517 ) $ (576,207 ) $ (559,808 ) $ (75,572 ) Weighted average number of common shares outstanding 2,320,089 2,577,389 3,068,502 3,499,520 Net loss per common share $ (0.25 ) $ (0.22 ) $ (0.18 ) $ (0.02 )

ORGANIZATION (Details)

ORGANIZATION (Details)

May 30, 2013USD ($)class_of_stock$ / shares

Feb. 14, 2012USD ($)shares

Dec. 31, 2016USD ($)$ / shares

Dec. 31, 2015USD ($)$ / shares

Dec. 31, 2014USD ($)

Jul. 12, 2016USD ($)

Feb. 02, 2016

Jan. 27, 2016$ / shares

Jan. 20, 2016USD ($)

Jan. 15, 2016$ / shares

Jan. 03, 2013USD ($)

Feb. 07, 2012USD ($)

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Issuance of common stock, value

$ 10,000,000

$ 27,604,469

$ 32,581,726

$ 19,031,109

Dividend reinvestment plan

$ 250,000,000

Common Stock, Par or Stated Value Per Share | $ / shares

$ 0.01

$ 0.01

Number of Classes of Shares | class_of_stock

2

Value of shares offered pursuant to registration statement

$ 2,250,000,000

RREEF Property Trust [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

General Partners' contributed capital

$ 199,000

RREEF Property OP Holder [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Limited Partners' contributed capital

$ 1,000

Common Class B [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Issuance of common stock, shares | shares

16,667

Issuance of common stock, value

$ 200,000

Common Class D [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Common Stock, Par or Stated Value Per Share | $ / shares

0.01

$ 0.01

$ 0.01

Private Offering 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, Par or Stated Value Per Share | $ / shares

0.01

0.01

$ 0.01

Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds

8.50%

Common Class N [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Common Stock, Par or Stated Value Per Share | $ / shares

$ 0.01

$ 0.01

$ 0.01

Follow-On Public Offering [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Dividend reinvestment plan

$ 200,000,000

Public Offering Value of Shares Offered Pursuant To Registration Statement

$ 2,100,000,000

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 02, 2016	Dec. 31, 2016USD ($)Propertytenant	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)Propertytenant	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)Property	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)segmentPropertytenant	Dec. 31, 2015USD ($)Propertytenant	Dec. 31, 2014USD ($)Property	Feb. 02, 2016	Dec. 31, 2013USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current Fiscal Year End Date														--12-31
Maximum offering costs as percentage of gross proceeds from initial public offering		15.00%												15.00%
Percentage of Dealer Manager Fee		0.55%												0.55%
Accrued Trailing Fee-Estimated Payable For Future		$ 2,352,711												$ 2,352,711
Other liabilities		1,168,665				$ 3,816,498								1,168,665	$ 3,816,498
Total liabilities		113,917,932				95,989,558								113,917,932	95,989,558
Additional paid in capital		79,994,729				62,760,361								79,994,729	62,760,361
Total stockholders' equity		$ 60,271,515				52,076,715				$ 33,607,645				$ 60,271,515	52,076,715	$ 33,607,645		$ 20,175,072
Percentage of taxable income required for REIT distribution		90.00%												90.00%
Number of primary segments | segment														3
Concentration of revenue, geographic area and property type														10.00%
Allowance for Doubtful Accounts Receivable		$ 1,133				0								$ 1,133	0
Amortization of Intangle Assets, Excluding Portion Recognized in Revenue														6,803,850	2,735,138	1,461,422
Rental and other property income		$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	$ 2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	$ 2,083,501	$ 1,555,194	$ 952,394	$ 594,467	$ 15,102,464	$ 8,050,514	$ 4,591,711
In-place base annualized rental revenues, as percent		10.00%												10.00%
The Sports Authority, Inc. - Terra Nova Plaza (1)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for Doubtful Accounts Receivable		$ 315,548												$ 315,548
Deferred Rent Receivables, Net		228,208												$ 228,208
Amortization of Intangle Assets, Excluding Portion Recognized in Revenue		1,897,869
Rental and other property income		$ 1,499,234
Dick's Sporting Goods [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lessee Leasing Arrangements, Operating Leases, Term of Contract	10 years
Gross rental revenues | Property
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														95.40%	100.00%	100.00%
Gross rental revenues | Property | Terra Nova Plaza, Chula Vista, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														22.30%	24.50%	10.70%
Gross rental revenues | Property | Loudoun Gateway, Sterling VA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														18.10%	1.00%	0.00%
Gross rental revenues | Property | Flats at Carrs Hill, Athens GA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														17.30%	7.60%	0.00%
Gross rental revenues | Property | Anaheim Hills Office Plaza, Anaheim, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														12.90%	22.20%	19.70%
Gross rental revenues | Property | Commerce Corner, Logan Township, NJ
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														10.60%	19.10%	23.60%
Gross rental revenues | Property | Heritage Parkway, Woodridge, IL
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														7.50%	13.70%	24.10%
Gross rental revenues | Property | Wallingford Plaza, Seattle, WA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														6.70%	11.90%	21.90%
Gross rental revenues | Tenant
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														65.00%	72.40%	73.70%
Gross rental revenues | Tenant | Orbital ATK Inc. - Loudoun Gateway
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														18.10%	1.00%	0.00%
Gross rental revenues | Tenant | The Sports Authority, Inc. - Terra Nova Plaza (1)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														14.10%	12.40%	5.40%
Gross rental revenues | Tenant | Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														8.50%	15.20%	13.30%
Gross rental revenues | Tenant | Allstate Insurance Company - Heritage Parkway
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														7.50%	13.70%	24.10%
Gross rental revenues | Tenant | Bed Bath & Beyond, Inc. - Terra Nova Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														6.70%	12.20%	5.30%
Gross rental revenues | Tenant | Performance Food Group, Inc. - Commerce Corner
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														6.50%	11.60%	14.30%
Gross rental revenues | Tenant | Walgreen Company - Wallingford Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														3.60%	6.30%	11.30%
Annualized Base Rental Revenues [Member] | Tenant
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														42.60%	43.00%	61.90%
Annualized Base Rental Revenues [Member] | Tenant | Orbital ATK Inc. - Loudoun Gateway
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														20.30%	21.60%	0.00%
Annualized Base Rental Revenues [Member] | Tenant | New England Baptist Hospital - Allied Drive
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														12.00%	0.00%	0.00%
Annualized Base Rental Revenues [Member] | Tenant | The Sports Authority, Inc. - Terra Nova Plaza (1)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														0.00%	0.00%	11.80%
Annualized Base Rental Revenues [Member] | Tenant | Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														10.30%	11.00%	18.90%
Annualized Base Rental Revenues [Member] | Tenant | Allstate Insurance Company - Heritage Parkway
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														0.00%	10.40%	18.70%
Annualized Base Rental Revenues [Member] | Tenant | Performance Food Group, Inc. - Commerce Corner
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of gross rental revenues														0.00%	0.00%	12.50%
Minimum | Terra Nova Plaza, Chula Vista, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														5 years
Minimum | Loudoun Gateway, Sterling VA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														5 years
Minimum | Flats at Carrs Hill, Athens GA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														5 years
Minimum | Anaheim Hills Office Plaza, Anaheim, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														5 years
Minimum | Wallingford Plaza, Seattle, WA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														5 years
Maximum | Terra Nova Plaza, Chula Vista, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														40 years
Maximum | Loudoun Gateway, Sterling VA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														40 years
Maximum | Flats at Carrs Hill, Athens GA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														27 years 6 months
Maximum | Anaheim Hills Office Plaza, Anaheim, CA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														40 years
Maximum | Wallingford Plaza, Seattle, WA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														40 years
Industrial, Retail and Office Properties | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														20 years
Industrial, Retail and Office Properties | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														40 years
Residential
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														27 years 6 months
Furniture and Equipment | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														5 years
Furniture and Equipment | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated useful life														7 years
Office Building [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property		1												1
Number of tenants | tenant		5												5
Multifamily [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property						1									1
Number of tenants | tenant		316												316
Number Of Beds In Real Estate Property | tenant						316									316
Commercial and Industrial Sector [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property		6				6				5				6	6	5
Number of tenants		14				14				13				14	14	13
Student Campus [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of real estate properties owned | Property		1												1
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other liabilities						$ 2,193,557									$ 2,193,557
Total liabilities						94,366,617									94,366,617
Additional paid in capital						64,383,302									64,383,302
Total stockholders' equity						53,699,656									53,699,656
Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other liabilities						1,622,941									1,622,941
Total liabilities						1,622,941									1,622,941
Additional paid in capital						(1,622,941)									(1,622,941)
Total stockholders' equity						$ (1,622,941)									$ (1,622,941)
RREEF America [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Maximum offering costs as percentage of gross proceeds from initial public offering		15.00%												15.00%
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds		10.00%												10.00%
Common Class A [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of Distribution Fee		0.50%												0.50%
Percentage of Dealer Manager Fee		0.55%												0.55%
Common Class T [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds																	8.50%
Percentage of Distribution Fee		1.00%												1.00%
Percentage of Dealer Manager Fee		2.75%												2.75%

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS (Details) - USD ($)	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Wells Fargo Bank [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of Credit, Fair Value Disclosure	$ 65,200,000		$ 72,500,000
Mortgages [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Gross		$ 25,942,141
RREEF America [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes Payable, Related Parties, Net of Discount, Fair Value Disclosure	$ 2,600,000

REAL ESTATE INVESTMENTS - Narra

REAL ESTATE INVESTMENTS - Narrative (Details)	Sep. 27, 2016USD ($)ft²tenantstory	Dec. 21, 2015USD ($)ft²tenant	Sep. 30, 2015USD ($)ft²storybedunit	Oct. 02, 2014USD ($)ft²Propertytenant	Jul. 02, 2014USD ($)ft²Propertytenant	Apr. 11, 2014USD ($)ft²tenant	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Acquisition funded from lines of credit	$ 32,400,000	$ 20,000,000	$ 27,000,000	$ 19,100,000	$ 14,700,000	$ 17,600,000	$ 36,600,000	$ 92,926,851	$ 51,400,000
Acquisition related costs							$ 158,762	$ 603,539	$ 333,554
Weighted Average Shares Outstanding, Basic and Diluted | shares							7,081,909
Commerce Corner, Logan Township, NJ
Real Estate Properties [Line Items]
Total real estate at cost						19,750,000
Acquisition funded from lines of credit						$ 8,840,000
Net rentable area | ft²						259,910
Number of tenants | tenant						2
Anaheim Hills
Real Estate Properties [Line Items]
Total real estate at cost					18,500,000
Acquisition funded from lines of credit					$ 10,130,000
Net rentable area | ft²					73,892
Number of tenants | tenant					3
Number of real estate properties owned | Property					3
Terra Nova Plaza
Real Estate Properties [Line Items]
Total real estate at cost				21,850,000
Acquisition funded from lines of credit				$ 12,000,000
Net rentable area | ft²				96,114
Number of tenants | tenant				2
Number of real estate properties owned | Property				4
Flats at Carrs Hill, Athens GA
Real Estate Properties [Line Items]
Total real estate at cost			27,000,000
Acquisition funded from lines of credit			$ 13,429,038
Net rentable area | ft²			135,864
Number of Stories | story			5
Number Of Beds In Real Estate Property | bed			316
Number of Units in Real Estate Property | unit			138
Loudoun Gateway, Sterling VA
Real Estate Properties [Line Items]
Total real estate at cost		21,950,000
Acquisition funded from lines of credit		$ 11,780,984
Net rentable area | ft²		102,015
Number of tenants | tenant		1
Allied Drive [Member]
Real Estate Properties [Line Items]
Total real estate at cost	34,000,000
Acquisition funded from lines of credit	$ 19,263,400
Net rentable area | ft²	64,127
Number of tenants | tenant	5
Number of Stories | story	2
Wells Fargo Bank [Member]
Real Estate Properties [Line Items]
Acquisition funded from lines of credit	$ 32,400,000

REAL ESTATE INVESTMENTS - Purch

REAL ESTATE INVESTMENTS - Purchase Price Allocation (Details) - USD ($)	Dec. 31, 2016	Sep. 27, 2016	Dec. 31, 2015	Dec. 21, 2015	Sep. 30, 2015	Dec. 31, 2014	Oct. 02, 2014	Jul. 02, 2014	Apr. 11, 2014
Business Acquisition [Line Items]
Total purchase price	$ 34,000,000		$ 48,950,000			$ 60,100,000
Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Land			5,186,193			20,544,503
Building and improvements			31,364,066			37,361,238
Furniture, fixtures and equipment			361,724
Acquired in-place lease			11,812,348			9,317,936
Acquired above-market leases			225,669			613,761
Acquired below-market leases						(7,737,438)
Total purchase price			$ 48,950,000			$ 60,100,000
Fair Value, Inputs, Level 3 [Member] | Allied Drive [Member]
Business Acquisition [Line Items]
Land		$ 5,483,925
Building and improvements		19,807,646
Acquired in-place lease		8,861,624
Acquired above-market leases		2,022
Acquired below-market leases		(155,217)
Total purchase price		$ 34,000,000
Fair Value, Inputs, Level 3 [Member] | Loudoun Gateway, Sterling VA
Business Acquisition [Line Items]
Land				$ 2,042,441
Building and improvements				9,974,457
Furniture, fixtures and equipment				0
Acquired in-place lease				9,707,433
Acquired above-market leases				225,669
Total purchase price				$ 21,950,000
Fair Value, Inputs, Level 3 [Member] | Flats at Carrs Hill, Athens GA
Business Acquisition [Line Items]
Land					$ 3,143,752
Building and improvements					21,389,609
Furniture, fixtures and equipment					361,724
Acquired in-place lease					2,104,915
Acquired above-market leases					0
Total purchase price					$ 27,000,000
Fair Value, Inputs, Level 3 [Member] | Commerce Corner
Business Acquisition [Line Items]
Land									$ 3,396,679
Building and improvements									14,304,272
Acquired in-place lease									2,258,817
Acquired above-market leases									393,562
Acquired below-market leases									(603,330)
Total purchase price									$ 19,750,000
Fair Value, Inputs, Level 3 [Member] | Anaheim Hills
Business Acquisition [Line Items]
Land								$ 6,519,531
Building and improvements								9,002,457
Acquired in-place lease								2,830,140
Acquired above-market leases								220,199
Acquired below-market leases								(72,327)
Total purchase price								$ 18,500,000
Fair Value, Inputs, Level 3 [Member] | Terra Nova Plaza
Business Acquisition [Line Items]
Land							$ 10,628,293
Building and improvements							14,054,509
Acquired in-place lease							4,228,979
Acquired above-market leases							0
Acquired below-market leases							(7,061,781)
Total purchase price							$ 21,850,000

REAL ESTATE INVESTMENTS - Amort

REAL ESTATE INVESTMENTS - Amortization (Details)	Dec. 31, 2016USD ($)
Acquired below-market leases
2,017	$ (393,101)
2,018	(391,631)
2,019	(377,119)
2,020	(361,691)
2,021	(357,348)
Thereafter	(4,179,726)
Total	(6,060,616)
Acquired-in-Place [Member]
Acquired in-place and above-market leases
2,017	3,671,317
2,018	3,476,302
2,019	2,340,724
2,020	2,240,795
2,021	2,215,528
Thereafter	10,609,652
Total	24,554,318
Above-Market Leases [Member]
Acquired in-place and above-market leases
2,017	135,282
2,018	108,941
2,019	82,806
2,020	80,570
2,021	80,584
Thereafter	49,161
Total	$ 537,344

REAL ESTATE INVESTMENTS REAL ES

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS - Net Income Acquired from Properties (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Revenues	$ 4,487,951	$ 5,210,824	$ 3,618,562	$ 3,784,811	$ 3,013,016	$ 2,178,146	$ 2,112,774	$ 2,097,278	$ 2,134,857	$ 1,584,810	$ 979,109	$ 619,988	$ 17,102,148	$ 9,401,214	$ 5,318,764
Net Income (Loss) Attributable to Parent	$ (690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	$ (964,076)	$ (636,595)	$ (213,690)	$ (413,335)	$ (75,572)	$ (559,808)	$ (576,207)	$ (587,517)	(4,346,476)	(2,227,696)	(1,799,104)
Property Acquired [Member]
Real Estate Properties [Line Items]
Revenues													768,546	776,026	2,801,262
Net Income (Loss) Attributable to Parent													$ (153,687)	$ (1,165,400)	$ 165,746

REAL ESTATE INVESTMENTS - Pro F

REAL ESTATE INVESTMENTS - Pro Forma (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Pro Forma Information [Abstract]
Revenues	$ 19,038,001	$ 11,939,832
Net loss	$ (4,337,457)	$ (2,783,491)
Net loss per common share, basic and diluted	$ (0.61)	$ (0.39)

REAL ESTATE INVESTMENTS REAL 41

REAL ESTATE INVESTMENTS REAL ESTATE INVESTMENTS - Rental and Other Property Income (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate [Abstract]
Rental revenue													$ 12,477,787	$ 7,247,058	$ 4,129,162
Amortization of Lease Incentives													(27,542)	0	0
Straight Line Rent													836,108	431,065	342,643
Above- and below-market lease amortization													1,816,111	372,391	119,906
Rental and other property income	$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	$ 2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	$ 2,083,501	$ 1,555,194	$ 952,394	$ 594,467	$ 15,102,464	$ 8,050,514	$ 4,591,711

REAL ESTATE INVESTMENTS - Futur

REAL ESTATE INVESTMENTS - Future Minimum Rents Payable (Details)	Dec. 31, 2016USD ($)
Real Estate [Abstract]
2,017	$ 13,522,989
2,018	12,024,772
2,019	8,967,888
2,020	8,819,991
2,021	8,812,801
Thereafter	41,478,595
Total	$ 93,627,036

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Marketable securities—cost	$ 8,103,761	$ 7,873,564
Unrealized gains	652,417	827,989
Unrealized losses	(146,966)	(132,549)
Net unrealized gain	505,451	695,440
Marketable securities—fair value	8,609,212	8,569,004
Proceeds from sale of marketable securities	13,711,596	9,643,988	$ 3,641,057
Gross realized gains from sale of marketable securities	894,812	425,130	169,692
Gross realized losses from sale of marketable securities	$ 701,527	$ 412,495	$ 77,855

LINE OF CREDIT (Details)

LINE OF CREDIT (Details) - USD ($)	Dec. 01, 2016	Mar. 01, 2016	Mar. 06, 2015	May 01, 2013	Dec. 31, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Line of credit, current borrowing capacity					$ 65,800,970	$ 65,800,970												$ 65,800,970
Current Fiscal Year End Date																		--12-31
Amortization of deferred financing costs																		$ 375,065	$ 372,071	$ 385,978
Percentage of Property Value			65.00%
Percentage of Minimum Debt Yield			11.00%
Long-term Debt					27,219,106	27,219,106				$ 0								27,219,106	0
Interest Expense						769,188	$ 541,561	$ 550,654	$ 565,707	360,495	$ 249,343	$ 258,315	$ 462,448	$ 419,048	$ 310,450	$ 220,538	$ 128,088	2,427,110	1,330,601	$ 1,078,124
Line of credit, net of deferred Financing Costs					64,677,532	64,677,532				71,784,456								64,677,532	71,784,456
Mortgages [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Gross					27,500,000	27,500,000				0								27,500,000	0
Deferred Finance Costs, Net					280,894	280,894				0								280,894	0
Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit, current borrowing capacity				$ 50,000,000
Long-term Line of Credit			$ 42,400,000
Line of credit, interest rate at period end			2.66%
Regions Bank [Member] | Minimum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate				2.20%
Regions Bank [Member] | Maximum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate				2.50%
Wells Fargo Bank [Member]
Line of Credit Facility [Line Items]
Line of credit, current borrowing capacity			$ 75,000,000		100,000,000	100,000,000												100,000,000
Long-term Line of Credit					$ 65,200,000	$ 65,200,000				72,500,000								$ 65,200,000	72,500,000
Line of credit, interest rate at period end					2.40%	2.40%												2.40%
Debt Instrument, Extension Period			2 years
Maximum borrowing capacity					$ 150,000,000	$ 150,000,000												$ 150,000,000
Expansion feature, increase limit					25,000,000	25,000,000												25,000,000
Line of credit term			3 years
Debt Issuance Costs, Line of Credit Arrangements, Net					522,468	522,468				715,544								522,468	715,544
Line of credit, net of deferred Financing Costs					64,677,532	64,677,532				$ 71,784,456								64,677,532	$ 71,784,456
Wells Fargo Bank [Member] | Minimum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.70%
Wells Fargo Bank [Member] | Maximum | One-, Two- or Three-Month LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.90%
Nationwide Bank [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Long-term Debt		$ 14,500,000			14,500,000	14,500,000												14,500,000
Line of credit term		10 years
Debt Instrument, Interest Rate, Stated Percentage		363.00%
Interest Expense					43,862
Hartford Life Insurance Company [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Long-term Debt	$ 13,000,000				$ 13,000,000	$ 13,000,000												$ 13,000,000
Line of credit term	7 years
Debt Instrument, Interest Rate, Stated Percentage	3.41%
Debt Instrument, Period, Fixed Rate	24 months
Debt Instrument, Convertible, Remaining Discount Amortization Period	30 years
Line of Credit [Member] | Wells Fargo Bank [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit			$ 43,426,851
Amortization of deferred financing costs			$ 82,762

RELATED PARTY ARRANGEMENTS (Det

RELATED PARTY ARRANGEMENTS (Details) - USD ($)	3 Months Ended	12 Months Ended		23 Months Ended
	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Jan. 03, 2014	Mar. 31, 2016	Jan. 20, 2016	Dec. 16, 2014
Related Party Transaction [Line Items]
Term of Agreements		1 year
Maximum offering costs as percentage of gross proceeds from public offering		15.00%
Reimbursement period		60 months
Due to affiliate						$ 200,000,000	$ 200,000,000
Expense Payments						9,200,000	$ 9,200,000
Due to related party, expenses, quarterly repayment commitment					$ 250,000	$ 250,000
Current Fiscal Year End Date		--12-31
Four fiscal quarter total operating expense		$ 3,260,955
Total operating expense exceed 2%/25% guideline		149,133
Related Party Transaction Maximum Expense Support, Discount Rate		$ 0.050
Number of components, Advisory Fees		2
Accrued Trailing Fee-Estimated Payable For Future		$ 2,352,711
RREEF America [Member]
Related Party Transaction [Line Items]
Daily advisory fee accrued as percentage of fixed component of investment		0.00274%
Maximum offering costs as percentage of gross proceeds from public offering		15.00%
Combined net asset value, common stock, at which advisory fee will begin accrual		$ 50,000,000
Performance fee to advisor, percentage return per share threshold		6.00%
Performance fee to advisor as percent of excess total return		25.00%
Performance fee to advisor, limit as percent of excess total return		10.00%
Performance fee to advisor, net asset value per share, threshold to which no fee earned on increase		$ 12
Reimbursable under the Advisory Agreement		$ 72,200	$ 0
Related Party Transaction, Reimbursements (To) From Related Parties During the Period		276,633	22,242
Offering costs incurred				$ 4,618,318
Expense Payments		$ 0	9,200,000
Underwriting compensation for initial public offering as percent of gross offering proceeds		10.00%
Expenses to advisor not reimbursable, percentage of invested assets threshold exceeded by operating expenses	2.00%	2.00%
Expenses to advisor not reimbursable, percentage of net income excluding certain reductions threshold exceeded by operating expenses	25.00%	25.00%
Percentage of RREEF america advisory fee to NAV		1.00%
Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursements (To) From Related Parties During the Period		$ 925,687	923,158
Reimbursements made (to) by RREEF America		2,766,943	1,841,257
Organization and Offering Costs [Member] | RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments		3,775,369	3,775,369
Deferred O&O		4,618,318	4,618,318
Deferred Reimbursement Cost to Advisor		1,851,375	2,777,061
Operating Expense [Member] | RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments		5,229,181
IPO [Member]
Related Party Transaction [Line Items]
Accrued Trailing Fee-Estimated Payable For Future		$ 2,010,409	$ 1,622,941

RELATED PARTY ARRANGEMENTS Expe

RELATED PARTY ARRANGEMENTS Expense Support Agreement (Details) - USD ($)	Apr. 25, 2016	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jan. 03, 2014	Jan. 20, 2016	Jan. 01, 2016	Dec. 16, 2014
Related Party Transaction [Line Items]
Accrued Trailing Fee-Estimated Payable For Future			$ 2,352,711
Fair Value Inputs, Discount Rate	1.93%
Note payable, Related Party, Discount, Amount								$ 1,861,880
Proceeds from Common Stock Issuance, Inception to Date							$ 200,000,000		$ 200,000,000
Due to related party, expenses, quarterly repayment commitment		$ 250,000					$ 250,000
Amortization of discount on note to affiliate		91,726	209,772
Related Party Transaction, Minimum Offering Proceeds Needed Before Expense Repayment	$ 500,000,000
Due to affiliates			4,844,917	$ 12,041,732
Payments of Stock Issuance Costs			5,705,461	1,607,660	$ 1,582,605
Sales Commissions and Fees			6,145
Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Reimbursements (To) From Related Parties During the Period			925,687	923,158
RREEF America [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Month Reimbursement Payment, Next Twelve Months	416,667
Related Party Transaction, Month Reimbursement Payment, Year Two	329,166
Related Party Transaction, Reimbursements (To) From Related Parties During the Period			276,633	22,242
Related Party Transaction, Reimbursable Under Advisory Agreement			72,200	0
Offering costs incurred						$ 4,618,318
Expense Payments, beginning balance		9,200,000	9,200,000
Expense Payments, ending balance			0	9,200,000
Amortization of discount on note to affiliate			209,772	0	$ 0
Due to affiliates	$ 8,950,000
RREEF America [Member] | Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Expense Payments, beginning balance		$ 3,775,369	3,775,369
Expense Payments, Additions			0
Expense Payments, ending balance			3,775,369	3,775,369
RREEF America [Member] | Private Offering [Member]
Related Party Transaction [Line Items]
Expense Payments, ending balance			195,450
RREEF America [Member] | Operating Expense [Member]
Related Party Transaction [Line Items]
Expense Payments, ending balance			5,229,181
Deutsche AM Distributors [Member]
Related Party Transaction [Line Items]
Accrued Trailing Fee			2,413,225	0
Related Party Transaction, Reimbursable Under Dealer Agreement			150,132	$ 0
Follow-On Public Offering [Member]
Related Party Transaction [Line Items]
Accrued Trailing Fee-Estimated Payable For Future			342,302
Proceeds from Common Stock Issuance, Inception to Date			7,287,594
Payments of Stock Issuance Costs			$ 970,354

RELATED PARTY ARRANGEMENTS Orga

RELATED PARTY ARRANGEMENTS Organization and Offering Costs (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2016	Jan. 20, 2016	Dec. 31, 2015	Dec. 16, 2014
Related Party Transaction [Line Items]
Proceeds from Common Stock Issuance, Initial Public Offering	$ 102,831,442
Proceeds from Common Stock Issuance, Inception to Date			$ 200,000,000		$ 200,000,000
Expense Payments			$ 9,200,000		$ 9,200,000
Offering Costs Not Expense Support	7,031,029	$ 7,031,029		$ 4,221,760
Costs not subject to reimbursement by RREEF America, Additions		2,809,269
Organization and Offering Costs	15,424,716	15,424,716		12,615,447
Organization and Offering Costs, Additions		2,809,269
RREEF America [Member]
Related Party Transaction [Line Items]
Expense Payments	0	0		9,200,000
Organization and Offering Costs [Member]
Related Party Transaction [Line Items]
Reimbursements made (to) by RREEF America	(2,766,943)	(2,766,943)		(1,841,257)
Organization and Offering Costs [Member] | RREEF America [Member]
Related Party Transaction [Line Items]
Deferred O&O	4,618,318	4,618,318		4,618,318
Expense Payments	3,775,369	3,775,369		3,775,369
Expense Payments, Additions		0
Deferred O&O reimbursable to RREEF America	$ 1,851,375	$ 1,851,375		$ 2,777,061

RELATED PARTY ARRANGEMENTS Due

RELATED PARTY ARRANGEMENTS Due to Affiliates (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jan. 20, 2016	Dec. 16, 2014
Related Party Transaction [Line Items]
Dealer Manage Fees	$ (428,711)	$ (284,584)	$ (135,491)
Accrued Trailing Fee	60,515
Expense Payments				$ 9,200,000	$ 9,200,000
Due to affiliates	4,844,917	12,041,732
Note payable, Related Party, Unamortized Debt Discount, Amount	(1,652,108)	0
Note to affiliate, net of unamortized discount of $1,652,108 and zero, respectively	7,297,892	0
RREEF America [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Fees, Fixed Component	900,726	607,614	0
Expense Payments	0	9,200,000
Reimbursable under the Advisory Agreement	72,200	0
Management fee and Incentive fee payable	357,985	64,671
Notes Payable, Related Parties	8,950,000
Related Party Transaction, Fees, Performance Component	274,905	0	0
Related Party Transaction, Fees	1,175,631	607,614	$ 0
Note payable, Related Party, Unamortized Debt Discount, Amount	(1,652,108)
Deutsche AM Distributors [Member]
Related Party Transaction [Line Items]
Accrued Trailing Fee	2,413,225	0
Related Party Transaction, Reimbursable Under Dealer Agreement	150,132	0
Organization and Offering Costs [Member] | RREEF America [Member]
Related Party Transaction [Line Items]
Deferred O&O reimbursable to RREEF America	1,851,375	2,777,061
Expense Payments	$ 3,775,369	$ 3,775,369

CAPITALIZATION (Details)

CAPITALIZATION (Details) - USD ($)	Feb. 16, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Feb. 02, 2016	Jan. 27, 2016	Jan. 15, 2016	May 30, 2013
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)		1,000,000,000				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						$ 0.01
Maximum selling commissions as percentage of purchase price		3.00%
Percentage of Dealer Manager Fee		0.55%
Aggregate redemptions value limit, as a percentage of combined net asset value		5.00%
Aggregate redemptions value including carryover limit, as a percentage of combined net asset value		10.00%
Common stock redemption limit per shareholder, as a percentage of shares held		5.00%
Redemptions as a percentage of net asset value, last business day of preceding quarter		4.00%
Short term trading penalty period		365 days
Short-term trading discount as percentage of gross proceeds		2.00%
Minimum balance of common stock, threshold at which company has option to redeem shares		$ 500
Stock Redeemed or Called During Period, Value		$ 10,282,451	$ 4,393,947	$ 877,465
Common Class A [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)		200,000,000	200,000,000			200,000,000
Common stock, par value (in usd per share)		$ 0.01	$ 0.01
Percentage of Dealer Manager Fee		0.55%
Percentage of Distribution Fee		0.50%
Stock Redeemed or Called During Period, Shares		709,572	73,780	10,008
Common Stock Redemption Weighted Average Price		$ 12.93	$ 12.71	$ 12.23
Stock Redeemed or Called During Period, Value		$ 9,170,461	$ 937,876	$ 122,388
Common Class I [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)		200,000,000	200,000,000			200,000,000
Common stock, par value (in usd per share)		$ 0.01	$ 0.01
Percentage of Dealer Manager Fee		0.55%
Stock Redeemed or Called During Period, Shares		84,614	274,878	60,391
Common Stock Redemption Weighted Average Price		$ 13.15	$ 12.78	$ 12.67
Stock Redeemed or Called During Period, Value		$ 1,111,990	$ 3,513,911	$ 765,272
Common Class T [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)		250,000,000	0			250,000,000
Common stock, par value (in usd per share)		$ 0.01	$ 0.01			$ 0.01
Percentage of Dealer Manager Fee		2.75%
Percentage of Distribution Fee		1.00%
Duration of Distribution Fee		4 years
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds					8.50%
Stock Redeemed or Called During Period, Shares		0
Common Stock Redemption Weighted Average Price		$ 0
Stock Redeemed or Called During Period, Value		$ 0
Common Class D [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)		50,000,000	0			50,000,000
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 N [Member]
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)		300,000,000	0			300,000,000
Common stock, par value (in usd per share)		$ 0.01	$ 0.01			$ 0.01
Subsequent Event [Member] | Common Class T [Member]
Schedule of Capitalization [Line Items]
Maximum selling commissions as percentage of purchase price	3.00%
Percentage of Dealer Manager Fee	2.50%
Percentage of Distribution Fee	1.00%
Duration of Distribution Fee	3 years
Underwriting Compensation for Initial Public Offering as Percent of Gross Offering Proceeds	8.50%

DISTRIBUTIONS (Details)

DISTRIBUTIONS (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Percentage of taxable income required for REIT distribution	90.00%												90.00%
Declared daily distribution rate, before adjustment for class-specific expenses (usd per share)	$ 0.00182234	$ 0.00181182	$ 0.00177203	$ 0.00179534	$ 0.00173613	$ 0.00173533	$ 0.00176456	$ 0.00175668	$ 0.00173473	$ 0.00169924	$ 0.00169307	$ 0.00167167
Distributions paid or payable in cash	$ 699,572	$ 670,484	$ 631,394	$ 633,913	$ 559,898	$ 524,375	$ 455,114	$ 294,197	$ 248,896	$ 200,365	$ 154,435	$ 130,908	$ 2,635,363	$ 1,833,584	$ 734,604
Distributions reinvested	513,834	504,020	457,276	407,009	362,491	311,644	310,384	358,056	309,211	278,194	242,092	217,739	1,882,139	1,342,575	1,047,236
Distributions declared	$ 1,213,406	$ 1,174,504	$ 1,088,670	$ 1,040,922	$ 922,389	$ 836,019	$ 765,498	$ 652,253	$ 558,107	$ 478,559	$ 396,527	$ 348,647	4,517,502	$ 3,176,159	$ 1,781,840
Common Class A [Member]
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)					16,598	15,386	13,684	11,126	9,145	8,109	6,244	5,162		56,794	28,660
Common Class I [Member]
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)					11,551	9,204	10,679	16,669	15,022	14,125	13,296	12,505		48,103	54,948
Common Class T [Member]
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	0	0	0	0
Common Stock [Member] | Common Class A [Member]
Class of Stock [Line Items]
Distributions reinvested													$ 887	$ 568	$ 287
Stock issued during period, dividend reinvestment plan (in shares)	23,973	24,151	21,726	18,860									88,710	56,794	28,660
Common Stock [Member] | Common Class I [Member]
Class of Stock [Line Items]
Distributions reinvested													$ 545	$ 481	$ 550
Stock issued during period, dividend reinvestment plan (in shares)	14,540	14,159	13,284	12,476									54,459	48,103	54,948

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Percentage of distributions characterized as ordinary income	22.9152%	20.6151%	4.2962%
Percentage of distributions characterized as capital gain	1.5666%	0.4423%	0.3375%
Percentage of distributions characterized as nondividend	75.5182%	78.9426%	95.3663%
Total	100.00%	100.00%	100.00%
Income Tax Expense (Benefit)	$ 6,221	$ 28,549	$ 5,850

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended												12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Additional Disclosure [Abstract]
Number of reportable segments | segment													2
Reconciliation to total assets of December 31, 2016
Real estate properties	$ 158,837,707				$ 135,305,346								$ 158,837,707	$ 135,305,346
Investment in marketable securities	8,609,212				8,569,004								8,609,212	8,569,004
Investments	167,446,919				143,874,350								167,446,919	143,874,350
Total assets	174,189,447				148,066,273								174,189,447	148,066,273
Revenues
Rental and other property income	4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	$ 2,083,501	$ 1,555,194	$ 952,394	$ 594,467	15,102,464	8,050,514	$ 4,591,711
Tenant reimbursement income													1,514,772	1,066,073	593,845
Investment income on marketable securities	120,269	100,314	73,813	190,516	109,525	68,310	59,747	47,045	51,356	29,616	26,715	25,521	484,912	284,627	133,208
Total revenues	4,487,951	5,210,824	3,618,562	3,784,811	3,013,016	2,178,146	2,112,774	2,097,278	2,134,857	1,584,810	979,109	619,988	17,102,148	9,401,214	5,318,764
Operating expenses
Property operating expenses													5,158,942	2,118,849	1,007,235
Total segment operating expenses													5,158,942	2,118,849	1,007,235
Operating Income - Segments													11,943,206	7,282,365	4,311,529
Reconciliation to net loss
General and Administrative Expense													(2,091,416)	(2,012,137)	(2,232,336)
Investment Advisory Fees													1,175,631	607,614	0
Business Combination, Acquisition Related Costs													(158,762)	(603,539)	(333,554)
Depreciation, Nonproduction													(3,826,198)	(2,233,667)	(1,097,034)
Amortization													(6,803,850)	(2,735,138)	(1,461,422)
Operating Income (Loss)													(2,112,651)	(909,730)	(812,817)
Interest expense	(769,188)	(541,561)	(550,654)	(565,707)	(360,495)	(249,343)	(258,315)	(462,448)	(419,048)	(310,450)	(220,538)	(128,088)	(2,427,110)	(1,330,601)	(1,078,124)
Net realized loss upon sale of marketable securities	(179,450)	243,689	223,991	(94,945)	(11,794)	(71,771)	(83,104)	179,304	53,057	29,182	36,165	(26,567)	193,285	12,635	91,837
Net loss	(690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	(964,076)	$ (636,595)	$ (213,690)	$ (413,335)	$ (75,572)	$ (559,808)	$ (576,207)	$ (587,517)	(4,346,476)	(2,227,696)	(1,799,104)
Real Estate Properties [Member]
Reconciliation to total assets of December 31, 2016
Real estate properties	158,837,707				135,305,346								158,837,707	135,305,346
Revenues
Rental and other property income													15,102,464	8,050,514	4,591,711
Tenant reimbursement income													1,514,772	1,066,073	593,845
Investment income on marketable securities													0	0	0
Total revenues													16,617,236	9,116,587	5,185,556
Operating expenses
Property operating expenses													5,158,942	2,118,849	1,007,235
Total segment operating expenses													5,158,942	2,118,849	1,007,235
Operating Income - Segments													11,458,294	6,997,738	4,178,321
Real Estate Equity Securities [Member]
Reconciliation to total assets of December 31, 2016
Investment in marketable securities	8,609,212				8,569,004								8,609,212	8,569,004
Revenues
Rental and other property income													0	0	0
Tenant reimbursement income													0	0	0
Investment income on marketable securities													484,912	284,627	133,208
Total revenues													484,912	284,627	133,208
Operating expenses
Property operating expenses													0	0	0
Total segment operating expenses													0	0	0
Operating Income - Segments													484,912	284,627	$ 133,208
Corporate [Member]
Reconciliation to total assets of December 31, 2016
Total assets	$ 6,742,528				$ 4,191,923								$ 6,742,528	$ 4,191,923

QUARTERLY RESULTS (UNAUDITED)53

QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues from real estate investments	$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	$ 2,903,491	$ 2,109,836	$ 2,053,027	$ 2,050,233	$ 2,083,501	$ 1,555,194	$ 952,394	$ 594,467	$ 15,102,464	$ 8,050,514	$ 4,591,711
Investment income on marketable securities	120,269	100,314	73,813	190,516	109,525	68,310	59,747	47,045	51,356	29,616	26,715	25,521	484,912	284,627	133,208
Total revenues	4,487,951	5,210,824	3,618,562	3,784,811	3,013,016	2,178,146	2,112,774	2,097,278	2,134,857	1,584,810	979,109	619,988	17,102,148	9,401,214	5,318,764
Operating expenses	(4,229,651)	(6,153,150)	(4,297,957)	(4,534,041)	(3,604,803)	(2,493,627)	(1,985,045)	(2,227,469)	(1,844,438)	(1,863,350)	(1,370,943)	(1,052,850)	(19,214,799)	(10,310,944)	(6,131,581)
Interest expense	(769,188)	(541,561)	(550,654)	(565,707)	(360,495)	(249,343)	(258,315)	(462,448)	(419,048)	(310,450)	(220,538)	(128,088)	(2,427,110)	(1,330,601)	(1,078,124)
Net realized gain (loss) upon sale of marketable securities	(179,450)	243,689	223,991	(94,945)	(11,794)	(71,771)	(83,104)	179,304	53,057	29,182	36,165	(26,567)	193,285	12,635	91,837
Net loss	$ (690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	$ (964,076)	$ (636,595)	$ (213,690)	$ (413,335)	$ (75,572)	$ (559,808)	$ (576,207)	$ (587,517)	$ (4,346,476)	$ (2,227,696)	$ (1,799,104)
Weighted average number of common shares outstanding:	7,240,957	7,046,836	6,757,026	6,376,234	5,780,744	5,251,033	4,771,626	4,134,878	3,499,520	3,068,502	2,577,389	2,320,089	6,856,840	4,989,809	2,870,160
Net loss per common share:	$ (0.09)	$ (0.18)	$ (0.15)	$ (0.22)	$ (0.17)	$ (0.12)	$ (0.04)	$ (0.10)	$ (0.02)	$ (0.18)	$ (0.22)	$ (0.25)	$ (0.63)	$ (0.45)	$ (0.63)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Jan. 12, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
Subsequent Event [Line Items]
Distributions declared per common share		$ 0.00182234	$ 0.00181182	$ 0.00177203	$ 0.00179534	$ 0.00173613	$ 0.00173533	$ 0.00176456	$ 0.00175668	$ 0.00173473	$ 0.00169924	$ 0.00169307	$ 0.00167167
Subsequent Event [Member]
Subsequent Event [Line Items]
Distributions declared per common share	$ 0.00183555

SCHEDULE III Real Estate and 55

SCHEDULE III Real Estate and Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 01, 2016	Mar. 01, 2016	Dec. 31, 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				$ 92,700,000
Land				37,238,612
Buildings & Improvements				131,839,336
Capitalized Cost Subsequent to Acquisition				129,191
Land, Buildings & Improvements Total				169,207,139
Accumulated Depreciation	$ (7,635,728)	$ (3,039,314)	$ (600,764)	(16,430,048)			$ (7,635,728)
Current Fiscal Year End Date	--12-31
Aggregate cost of real estate for federal income tax purposes				170,889,054
Reconciliation of real estate owned:
Beginning balance	$ 135,082,125	86,127,948	26,027,948
Acquisitions	34,000,000	48,950,000	60,100,000
Additions	125,014	4,177	0
Ending balance	169,207,139	135,082,125	86,127,948
Reconciliation of accumulated depreciation:
Beginning balance	(7,635,728)	(3,039,314)	(600,764)
Depreciation expense	8,794,320	4,596,414	2,438,550
Ending balance	(16,430,048)	$ (7,635,728)	$ (3,039,314)
Gross intangible lease assets				36,795,334
Below Market Lease, Gross				8,683,755
Long-term Debt				27,219,106			0
Heritage Parkway
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				7,067,680
Land				2,310,684
Buildings & Improvements				10,989,316
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				13,300,000
Accumulated Depreciation	$ (3,531,789)			(3,531,789)
Date Acquired	May 31, 2013
Reconciliation of accumulated depreciation:
Ending balance	$ (3,531,789)
Heritage Parkway | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Heritage Parkway | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Wallingford Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				6,767,760
Land				3,713,306
Buildings & Improvements				9,014,642
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				12,727,948
Accumulated Depreciation	$ (1,063,660)			(1,063,660)
Date Acquired	Dec. 18, 2013
Reconciliation of accumulated depreciation:
Ending balance	$ (1,063,660)
Wallingford Plaza | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Wallingford Plaza | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Commerce Corner
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				13,000,000
Land				3,396,680
Buildings & Improvements				16,353,320
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				19,750,000
Accumulated Depreciation	$ (1,710,989)			(1,710,989)
Date Acquired	Apr. 11, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ (1,710,989)
Commerce Corner | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Commerce Corner | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Anaheim Hills
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				9,916,920
Land				6,519,531
Buildings & Improvements				11,980,469
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				18,500,000
Accumulated Depreciation	$ (2,840,639)			(2,840,639)
Date Acquired	Jul. 2, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ (2,840,639)
Anaheim Hills | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Anaheim Hills | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Terra Nova Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				11,703,400
Land				10,628,293
Buildings & Improvements				11,221,707
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				21,850,000
Accumulated Depreciation	$ (1,490,015)			(1,490,015)
Date Acquired	Oct. 2, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ (1,490,015)
Terra Nova Plaza | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Terra Nova Plaza | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Flats at Carrs Hill, Athens GA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				14,500,000
Land				3,143,752
Buildings & Improvements				23,856,248
Capitalized Cost Subsequent to Acquisition				129,191
Land, Buildings & Improvements Total				27,129,191
Accumulated Depreciation	$ (3,463,105)			(3,463,105)
Date Acquired	Sep. 30, 2015
Reconciliation of accumulated depreciation:
Ending balance	$ (3,463,105)
Flats at Carrs Hill, Athens GA | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Flats at Carrs Hill, Athens GA | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	27 years 6 months
Loudoun Gateway, Sterling VA
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				11,670,800
Land				2,042,441
Buildings & Improvements				19,907,559
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				21,950,000
Accumulated Depreciation	$ (1,980,627)			(1,980,627)
Date Acquired	Dec. 21, 2015
Reconciliation of accumulated depreciation:
Ending balance	$ (1,980,627)
Loudoun Gateway, Sterling VA | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Loudoun Gateway, Sterling VA | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Allied Drive [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				18,073,440
Land				5,483,925
Buildings & Improvements				28,516,075
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				34,000,000
Accumulated Depreciation	$ (349,224)			(349,224)
Date Acquired	Sep. 27, 2016
Reconciliation of accumulated depreciation:
Ending balance	$ (349,224)
Wells Fargo Bank [Member]
Reconciliation of accumulated depreciation:
Line of credit, net				65,200,000			$ 72,500,000
Mortgages [Member] | Hartford Life Insurance Company [Member]
Reconciliation of accumulated depreciation:
Long-term Debt				13,000,000	$ 13,000,000
Mortgages [Member] | Nationwide Bank [Member]
Reconciliation of accumulated depreciation:
Long-term Debt				$ 14,500,000		$ 14,500,000