RREEF Property Trust (ZRPTIX) 10-K 8 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 04, 2019
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, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float	$ 0
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,599,889
Common Class I
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		6,444,282
Common Class T
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		655,309
Common Class N
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Common Class D
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Investment in real estate assets:
Land	$ 64,425,503	$ 37,238,612
Buildings and improvements, less accumulated depreciation of $15,900,108 and $11,476,041, respectively	108,584,830	92,160,948
Furniture, fixtures and equipment, less accumulated depreciation of $291,675 and $211,727, respectively	228,776	239,225
Acquired intangible lease assets, less accumulated amortization of $19,682,188 and $15,510,271, respectively	29,017,535	21,285,063
Total investment in real estate assets, net	202,256,644	150,923,848
Investment in marketable securities	14,735,034	10,046,177
Total investment in real estate assets and marketable securities, net	216,991,678	160,970,025
Cash and cash equivalents	2,001,529	2,441,853
Receivables, net of allowance for doubtful accounts of $6,278 and $9,586, respectively	3,324,457	2,615,939
Deferred leasing costs, net of amortization of $374,694 and $201,108, respectively	2,340,781	1,833,527
Prepaid and other assets	1,540,706	1,454,988
Total assets	226,199,151	169,316,332
LIABILITIES AND STOCKHOLDERS' EQUITY
Line of credit, net	84,045,620	63,022,061
Mortgage loans payable, net	34,055,279	27,254,431
Accounts payable and accrued expenses	2,040,828	768,049
Due to affiliates	4,292,062	4,375,191
Note to affiliate, net of unamortized discount of $1,364,618 and $1,509,753, respectively	7,585,382	7,440,247
Acquired below-market lease intangibles, less accumulated amortization of $3,461,291 and $3,016,239, respectively	14,969,634	5,667,516
Distributions payable	334,497	258,542
Other liabilities	1,368,721	1,190,779
Total liabilities	148,692,023	109,976,816
Stockholders' Equity:
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued	0	0
Additional paid-in capital	115,025,173	86,813,276
Deficit	(37,621,403)	(28,290,303)
Accumulated other comprehensive income	0	735,639
Total stockholders' equity	77,507,128	59,339,516
Total liabilities and stockholders' equity	226,199,151	169,316,332
Common Class A
Stockholders' Equity:
Common stock	35,746	36,670
Common Class I
Stockholders' Equity:
Common stock	61,323	43,521
Common Class T
Stockholders' Equity:
Common stock	6,289	713
Common Class D
Stockholders' Equity:
Common stock	0	0
Common Class N
Stockholders' Equity:
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Buildings and improvements, accumulated depreciation	$ 15,900,108	$ 11,476,041
Furniture, fixtures and equipment, accumulated depreciation	291,675	211,727
Acquired intangible lease assets, accumulated amortization	19,682,188	15,510,271
Allowance for doubtful accounts	6,278	9,586
Deferred leasing costs, amortization	374,694	201,108
Note to affiliate, unamortized discount	1,364,618	1,509,753
Acquired below-market lease intangibles, accumulated depreciation	$ 3,461,291	$ 3,016,239
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 Class A
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)	3,574,584	3,666,927
Common stock, shares outstanding (in shares)	3,574,584	3,666,927
Common Class I
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)	6,132,292	4,352,050
Common stock, shares outstanding (in shares)	6,132,292	4,352,050
Common Class T
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	628,863	71,316
Common stock, shares outstanding (in shares)	628,863	71,316
Common Class D
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	0	0
Common Class N
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Rental and other property income	$ 16,371,676	$ 15,130,969	$ 15,102,464
Tenant reimbursement income	2,540,334	2,347,670	1,514,772
Investment income on marketable securities	505,903	307,114	484,912
Total revenues	19,417,913	17,785,753	17,102,148
Expenses
General and administrative expenses	1,894,649	1,655,410	2,091,416
Property operating expenses	5,875,616	5,497,497	5,158,942
Advisory expenses	1,841,630	1,723,473	1,175,631
Acquisition related expenses	0	0	158,762
Depreciation	4,504,015	4,338,253	3,826,198
Amortization	4,132,926	3,721,628	6,803,850
Total operating expenses	18,248,836	16,936,261	19,214,799
Net realized (loss) gain upon sale of marketable securities	(416,310)	(69,987)	193,285
Net unrealized change in fair value of investment in marketable securities	(646,752)	0	0
Operating income (loss)	106,015	779,505	(1,919,366)
Interest expense	(3,835,345)	(3,521,184)	(2,427,110)
Net loss	(3,729,330)	(2,741,679)	(4,346,476)
Common Class A
Expenses
Net loss	$ (1,488,941)	$ (1,261,731)	$ (2,200,186)
Net loss per common share:
Basic and diluted (in usd per share)	$ (0.40)	$ (0.34)	$ (0.63)
Common Class I
Expenses
Net loss	$ (2,118,591)	$ (1,473,805)	$ (2,143,496)
Net loss per common share:
Basic and diluted (in usd per share)	$ (0.42)	$ (0.36)	$ (0.64)
Common Class T
Expenses
Net loss	$ (121,798)	$ (6,143)	$ (2,794)
Net loss per common share:
Basic and diluted (in usd per share)	$ (0.39)	$ (0.41)	$ (0.69)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,729,330)	$ (2,741,679)	$ (4,346,476)
Other comprehensive income (loss) for the years ended December 31, 2017 and 2016:
Reclassification of previous unrealized change in fair value of marketable securities into net realized loss	0	69,987	(193,285)
Unrealized change in fair value of marketable securities for the years ended December 31, 2017 and 2016	0	160,201	3,296
Total other comprehensive gain (loss) for the years ended December 31, 2017 and 2016	0	230,188	(189,989)
Comprehensive loss	$ (3,729,330)	$ (2,511,491)	$ (4,536,465)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Class A	Common Class I	Common Class T	Preferred Stock	Common StockCommon Class A	Common StockCommon Class I	Common StockCommon Class T	Common StockCommon Class D	Common StockCommon Class N	Additional Paid-in Capital	Deficit	Accumulated Other Comprehensive Income
Balance (in shares) at Dec. 31, 2015					0	3,077,546	2,914,314	0	0	0
Balance at Dec. 31, 2015	$ 52,076,715				$ 0	$ 30,776	$ 29,143	$ 0	$ 0	$ 0	$ 62,760,361	$ (11,439,005)	$ 695,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)					0	1,190,235	896,677	4,043
Issuance of common stock	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			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 (in shares)		(709,572)	(84,614)			(709,572)	(84,614)
Redemption of common stock	(10,282,451)	$ (9,170,461)	$ (1,111,990)			$ (7,096)	$ (846)				(10,274,509)
Distributions to investors	(4,517,502)											(4,517,502)
Other offering costs	(3,836,270)										(3,836,270)
Discount on note to affiliate	1,861,880										1,861,880
Comprehensive income (loss)	(4,536,465)											(4,346,476)	(189,989)
Balance (in shares) at Dec. 31, 2016					0	3,646,919	3,780,836	4,043	0	0
Balance at Dec. 31, 2016	60,271,515				$ 0	$ 36,469	$ 37,809	$ 40	$ 0	$ 0	79,994,729	(20,302,983)	505,451
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)						205,285	894,612	70,900
Issuance of common stock	15,983,040					$ 2,053	$ 8,946	$ 709			15,971,332
Issuance of common stock through the distribution reinvestment plan (in shares)		94,370	71,018	416		94,370	71,018	416
Issuance of common stock through the distribution reinvestment plan	2,242,229					$ 944	$ 710	$ 4			2,240,571
Redemption of common stock (in shares)		(279,647)	(394,416)	(4,043)		(279,647)	(394,416)	(4,043)
Redemption of common stock	(9,199,710)	$ (3,769,850)	$ (5,368,042)	$ (61,818)		$ (2,796)	$ (3,944)	$ (40)			(9,192,930)
Distributions to investors	(5,245,641)											(5,245,641)
Other offering costs	(2,200,426)										(2,200,426)
Comprehensive income (loss)	(2,511,491)											(2,741,679)	230,188
Balance (in shares) at Dec. 31, 2017					0	3,666,927	4,352,050	71,316	0	0
Balance at Dec. 31, 2017	59,339,516				$ 0	$ 36,670	$ 43,521	$ 713	$ 0	$ 0	86,813,276	(28,290,303)	735,639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect adjustment for change in accounting principle (see Note 2)	0											735,639	(735,639)
Balance, as adjusted	59,339,516				$ 0	$ 36,670	$ 43,521	$ 713	$ 0	$ 0	86,813,276	(27,554,664)	0
Issuance of common stock (in shares)					0	391,867	1,857,612	552,490
Issuance of common stock	39,774,984				$ 0	$ 3,918	$ 18,576	$ 5,525			39,746,965
Issuance of common stock through the distribution reinvestment plan (in shares)		91,920	104,470	5,057		91,920	104,470	5,057
Issuance of common stock through the distribution reinvestment plan	2,817,021					$ 919	$ 1,044	$ 51			2,815,007
Redemption of common stock (in shares)		(576,130)	(181,840)			(576,130)	(181,840)	0
Redemption of common stock	(10,570,480)	$ (8,036,195)	$ (2,534,285)			$ (5,761)	$ (1,818)				(10,562,901)
Distributions to investors	(6,337,409)											(6,337,409)
Other offering costs	(3,787,174)										(3,787,174)
Comprehensive income (loss)	(3,729,330)											(3,729,330)
Balance (in shares) at Dec. 31, 2018					0	3,574,584	6,132,292	628,863	0	0
Balance at Dec. 31, 2018	$ 77,507,128				$ 0	$ 35,746	$ 61,323	$ 6,289	$ 0	$ 0	$ 115,025,173	$ (37,621,403)	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (3,729,330)	$ (2,741,679)	$ (4,346,476)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation	4,504,015	4,338,253	3,826,198
Net realized loss (gain) upon sale of marketable securities	416,310	69,987	(193,285)
Net unrealized change in fair value of marketable securities	646,752	0	0
Amortization of intangible lease assets and liabilities	3,900,451	3,567,448	5,015,281
Amortization of deferred financing costs	286,495	479,854	375,065
Allowance for doubtful accounts	(3,308)	8,453	1,133
Straight line rent	(188,339)	(502,066)	(607,900)
Imputed interest portion of repayment of note to affiliate	0	0	(91,726)
Amortization of discount on note to affiliate	145,135	142,355	209,772
Changes in assets and liabilities:
Receivables	(620,964)	(72,801)	(59,727)
Deferred leasing costs	(463,807)	(112,260)	(242,141)
Prepaid and other assets	(4,296)	54,633	150,297
Accounts payable and accrued expenses	180,808	(1,639,268)	327,044
Other liabilities	180,970	95,604	(96,022)
Due to affiliate	(51,864)	391,313	576,161
Net cash provided by operating activities	5,199,028	4,079,826	4,843,674
Cash flows from investing activities:
Investment in real estate and related assets	(49,014,932)	0	(33,761,415)
Improvements to real estate assets	(377,171)	(230,992)	(125,014)
Investment in marketable securities	(27,295,703)	(15,898,115)	(13,653,232)
Proceeds from sale of marketable securities	21,531,392	14,628,025	13,644,874
Net cash used in investing activities	(55,156,414)	(1,501,082)	(33,894,787)
Cash flows from financing activities:
Proceeds from line of credit	47,900,000	3,250,000	36,600,000
Repayment of line of credit	(26,380,522)	(5,350,000)	(43,900,000)
Proceeds from mortgage loans payable	6,950,000	0	27,500,000
Proceeds from issuance of common stock	39,896,952	15,780,040	27,604,469
Payment of financing costs	(931,566)	0	(462,883)
Payment of offering costs	(3,902,888)	(3,125,710)	(5,705,461)
Repayment of note to affiliate	0	0	(158,274)
Distributions to investors	(3,444,434)	(2,984,767)	(2,587,901)
Redemption of common stock	(10,570,480)	(9,199,710)	(10,282,451)
Net cash provided by (used in) financing activities	49,517,062	(1,630,147)	28,607,499
Net (decrease) increase in cash and cash equivalents	(440,324)	948,597	(443,614)
Cash and cash equivalents, beginning of year	2,441,853	1,493,256	1,936,870
Cash and cash equivalents, end of year	2,001,529	2,441,853	1,493,256
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Distributions declared and unpaid	334,497	258,542	239,897
Common stock issued through the distribution reinvestment plan	2,817,021	2,242,229	1,882,139
Unrealized gain (loss) on marketable securities	0	230,188	(189,989)
Purchases of marketable securities not yet paid	108,012	102,526	106,915
Proceeds from sale of marketable securities not yet received	91,145	73,269	84,333
Proceeds from issuance of common stock not yet received	100,032	222,000	19,000
Discount on note to affiliate	0	0	1,861,880
Accrued offering costs not yet paid	1,861,435	986,212	1,066,334
Capital expenditures not yet paid	246,794	0	0
Deferred leasing costs not yet paid	217,849	0	0
Supplemental Cash Flow Disclosures:
Interest paid	3,325,128	2,811,794	1,698,712
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	49,636,778	0	34,000,000
Prepaids and other assets assumed	2,065	0	(7,055)
Other liabilities assumed	(623,911)	0	(231,530)
Investment in real estate and related assets	$ 49,014,932	$ 0	$ 33,761,415

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2018
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 commencing with its taxable year ended December 31, 2013. 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 RREEF Property OP Holder, LLC (the “OP Holder”), a wholly owned subsidiary of the Company, is the limited partner of the Operating Partnership. As the Company completes the settlement for purchase orders for shares of its common stock in its continuous public offering, it will continue to transfer substantially all of the proceeds 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 apartment 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, L.L.C., a Delaware limited liability company ("RREEF America"), the Company's sponsor and advisor, purchased $10,000,000 of the Company's Class I common stock, $0.01 par value per share ("Class I 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 I Shares, in any combination of Class A Shares and Class I 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"). On January 27, 2016, the Company filed articles supplementary and articles of amendment to its articles of incorporation to (a) add a newly-designated Class T common stock, $0.01 par value per share ("Class T shares") and (b) add a newly-designated Class N common stock, $0.01 par value per share ("Class N shares"). On February 1, 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. On July 1, 2016, the Company and its Operating Partnership entered into a new dealer manager agreement (the “Dealer Manager Agreement”) with DWS Distributors, Inc. (formerly known as Deutsche AM Distributors, Inc.) (the “Dealer Manager”), a registered broker-dealer and an affiliate of RREEF America. The Company had engaged SC Distributors, Inc., an entity unaffiliated with the Company or its advisor, as its dealer manager for the Initial Public Offering. Also see Note 8. 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 shares, Class I shares or Class T shares in its primary offering and up to $200,000,000 of shares of its Class A shares, Class I shares, Class N shares or Class T shares 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 Company's Initial Public Offering terminated upon the commencement of the Follow-On Public Offering. 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 performance fee. NAV per share is calculated by dividing the NAV at the end of each business day for each class by the number of shares outstanding for that class on such day. The Company's NAV per share for its Class A, Class I and Class T shares is posted to the Company's website at www.rreefpropertytrust.com after the stock market close each business day. Additionally, the Company's NAV per share for its Class A, Class I and Class T shares is published daily via NASDAQ's Mutual Fund Quotation System under the symbols ZRPTAX, ZRPTIX and ZRPTTX for its Class A shares, Class I shares and Class T shares, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), the authoritative reference for U.S. generally accepted accounting principles (“GAAP”). There have been no significant changes to the Company's significant accounting policies during the year ended December 31, 2018 except for the adoption of certain Accounting Standards Updates ("ASU") noted below in Note 2. 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. 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. Ordinary repair and maintenance costs that do not materially improve the condition or useful life of the property are expensed as incurred. In January 2017, FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, the intent of which is to assist entities with evaluating whether transactions should be accounted for as acquisitions (and dispositions) of assets or businesses. Under the previous implementation guidance, real estate was broadly interpreted to be a business, which required, among other things, that acquisition related costs be expensed at the time of acquisition. The amendments in ASU 2017-01 provide a screen to determine when a set of identifiable assets is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. Generally, a real estate asset and its related leases will be considered a single identifiable asset and therefore will not meet the definition of a business. If the real estate and related leases in an acquisition are determined to be an asset and not a business, then the acquisition related costs would be capitalized onto the consolidated balance sheet. The Company adopted ASU 2017-01 on its effective date of January 1, 2018, which did not have an impact on the Company's consolidated financial statements. See Note 4 for details of the impact of ASU 2017-01 on the property acquisitions completed by the Company during the year ended December 31, 2018 . 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, 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, 2018 and 2017, 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. Through December 31, 2017 , the Company determined the appropriate classification for these securities at the time of purchase and reevaluated such designation as of each balance sheet date, resulting in the Company classifying its investments in marketable securities as available-for-sale as the Company intended 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. Through December 31, 2017, unrealized gains and losses have been reported in accumulated other comprehensive loss. Effective January 1, 2018, the Company adopted ASU 2016-01, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities, which improves certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 revised the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. Beginning January 1, 2018, the net unrealized change in the fair value of the Company's investments in marketable securities is recorded in earnings as part of operating income or loss. The Company adopted ASU 2016-01 using a modified retrospective approach that resulted in recording, on January 1, 2018, a cumulative effect adjustment of $735,639 of net unrealized gain on its investments in marketable securities as of December 31, 2017 into deficit in the accompanying consolidated financial statements. The Company has reclassified the $69,987 of net realized loss and $193,285 of net realized gain upon sale of marketable securities on the accompanying consolidated statements of operations for the years ended December 31, 2017 and 2016, respectively, to include it in operating income or loss for comparative purposes. This reclassification has not changed the Company's net loss for the years ended December 31, 2017 and 2016. 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. Borrowings The Company may obtain various forms of borrowings from market participants. Direct financing costs associated with obtaining borrowings, such as commitment fees, legal fees and other third-party costs, are capitalized and amortized over the terms of the borrowings using a method which approximates the effective interest method. Amortization of financing costs is included in interest expense in the consolidated statements of operations. The unamortized portion of financing costs is reflected as a reduction of the outstanding debt balance on the consolidated balance sheets. 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 for the termination of an entire lease 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. In May 2014, FASB issued ASU 2014-09, Revenue From Contracts With Customers. ASU 2014-09 requires entities to recognize revenue in their financial statements in a manner that depicts the transfer of the promised goods or services to its customers in an amount that reflects the consideration to which the entity is entitled at the time of transfer of those goods or services. As a result, the amount and timing of revenue recognition may be affected. However, certain types of contracts are excluded from the provisions of ASU 2014-09, including leases. Other types of real estate related contracts, such as for dispositions or development of real estate, will be impacted by ASU 2014-09. In addition, ASU 2014-09 requires additional disclosures regarding revenue recognition. The Company adopted ASU 2014-09, as amended, on its effective of January 1, 2018, using the cumulative effect adjustment method in the period of adoption. The adoption of ASU 2014-09 did not have an impact on the Company's consolidated financial statements. Investment income from marketable securities is accrued at each distribution record date. 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 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 (which inures to the benefit all Class A and Class I stockholders). 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 in the future on the outstanding shares. Such estimate reflects the Company's assumptions for certain variables, including future redemptions, share price appreciation and the total gross proceeds to be raised during each 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, 2018 , the Company has accrued $3,107,322 in Trailing Fees estimated to be payable in the future with respect to the Initial Public Offering and the Follow-On Public Offering. 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, possibly 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 dividends 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. The Tax Cuts and Jobs Act signed into law in December 2017 did not change the above provisions related to qualification as a REIT. 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. Through December 31, 2018 , the Company has not had any Real Estate Loan investments. Net Earnings or Loss Per Share Net earnings or loss per share is calculated using the two-class method. The two-class method is utilized when an entity (1) has different classes of common stock that participate differently in net earnings or loss, or (2) has issued participating securities, which are securities that participate in distributions separately from the entity’s common stock. Pursuant to the advisory agreement between the Company and its advisor (see Note 8), the advisor may earn a performance component of the advisory fee which is calculated separately for each class of common stock which therefore may result in a different allocation of net earnings or loss to each class of common stock. In periods where no performance component of the advisory fee is recognized in the Company’s consolidated statement of operations, the net earnings or loss per share will be the same for each class of common stock. From the Company’s inception through December 31, 2018 , the Company has not issued any participating securities. Concentration of Credit Risk As of December 31, 2018 and 2017 , 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. Recent Accounting Pronouncement s In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows, (Topic 230): Classification of Cash Receipts and Cash Payments , which identifies the principles for the classification of eight specific types of cash flow with the objective of providing specific guidance on these specified cash flows. The cash flows that may be pertinent to the Company in the future include debt prepayment or debt extinguishment costs, contingent consideration of payments made after a business combination, proceeds from the settlement of insurance claims and distributions received. In addition, ASU 2016-15 also specifies the classification of cash flows for payments made under zero-coupon debt instruments, such as the Company's note to affiliate on its consolidated balance sheet as of December 31, 2018 . During the year ended December 31, 2016, the Company made one payment of $250,000 to its advisor under the note to affiliate. Under ASU 2016-15, the portion of such payment representing the imputed interest expense, which was $91,726 , is included in cash flows from operating activities. Under previous GAAP, the entire payment of $250,000 was reported as a financing activity. The Company adopted ASU 2016-15 on its effective date of January 1, 2018. ASU 2016-15 must be applied retrospectively, implying that prior periods presented should be adjusted to conform to ASU 2016-15, unless to do so would be impracticable. Accordingly, the adoption of ASU 2016-15 impacted the Company's consolidated cash flow statement for the 2016 period in its Annual Report on Form 10-K for the year ending December 31, 2018. Aside from the reclassification related to the aforementioned payment to RREEF America under the note to affiliate, the Company's adoption of ASU 2016-15 did not have a material impact on its consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. This new guidance is effective for the Company on January 1, 2019. ASU 2016–02 requires lessees to recognize leases on their balance sheet, and leaves lessor accounting largely unchanged. ASU 2016–02 requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales–type leases, direct financing leases and operating leases and requires lessors to capitalize and amortize only incremental direct leasing costs. The guidance provides an optional transition method which would allow entities to initially apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings, if necessary, and provides a package of practical expedients whereby companies will not be required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification (operating versus capital/financing leases) for any expired or existing leases and (iii) initial direct costs for any existing leases ("Package of Practical Expedients"). The Company has adopted ASU 2016-02 beginning on January 1, 2019 and has elected the Package of Practical Expedients, which permits us to (a) continue ASC 840 accounting for leases that commenced prior to January 1, 2019 for the remainder of those lease terms, and (b) apply ASU 2016–02 to leases that commence or are modified after January 1, 2019. The Company does not have any arrangements in which it is the lessee and will therefore not be required to recognize a lease liability or right of use asset within its consolidated balance sheet upon adoption of ASU 2016-02. ASU 2016–02 requires lessors to expense costs incurred to negotiate or arrange a lease regardless of outcome, such as tax or legal advice to negotiate lease terms and costs to advertise or solicit potential tenants, while capitalizing initial direct costs. By electing the Package of Practical Expedients, initial direct costs that were capitalized prior to adoption of ASU 2016–02 are not reassessed. Therefore, such costs shall continue to be amortized over corresponding lease terms. In July 2018, FASB issued ASU 2018-11, Leases (Topic 842) - Targeted Improvements. Under ASU 2018-11, a lessor may elect a practical expedient to not separate lease and non-lease components of a lease and instead account for them as a single component if two criteria are met: (1) the timing and pattern of transfer of the non-lease component(s) and associated lease component are the same, and (2) the lease component, if accounted for separately, would be classified as an operating lease. Regarding leases for which the Company is the lessor, the accounting for lease components will be largely unchanged from existing policy as the Company has elected to apply the practical expedient within ASU 2018-11 available to lessors which allows lessors the option to forgo separating non-lease components from lease components when the two aforementioned criteria are met. With respect to the the Company's leases to which this practical expedient could apply, the Company believes the lease component is the predominant component and the leases satisfy the two aforementioned criteria. The Company believes adoption of ASU 2018-11 will not significantly change the accounting for rental and other revenues from operating leases where the Company is the lessor, and that such leases will be accounted for in a manner similar to existing standards with the underlying leased asset being reported and recognized as a real estate asset. As a result of adopting this practical expedient, all leases for which the Company is the lessor, including both lease and non-lease components, will be accounted for together under ASC 842, and the accounting treatment will remain consistent with the Company’s existing policies. However, the Company does expect to report rental and other property income and tenant reimbursement income, which has historically been disclosed as two separate line items on the Company's consolidated statements of operations, as a single line item within the consolidated statements of operations beginning January 1, 2019. In December 2018, FASB issued ASU 2018-20, Leases (Topic 842) - Narrow Scope Improvements for Lessors. Under ASU 2018-20, lessor costs that are paid by a lessee directly to a third party (as opposed to reimbursing the lessor) are required to be shown net within the Company’s consolidated financial statements. The Company's existing policies comply with ASU 2018-20 and as such the adoption of ASU 2018-20 will not have an impact on the Company's consolidated financial statements. In August 2018, FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to Disclosure Requirements for Fair Value Measurement . ASU 2018-13 changes the fair value measurement disclosure requirements of ASC 820 by eliminating, modifying or adding certain disclosure requirements for fair value measurements. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods therein. However, ASU 2018-13 allows an entity to early adopt the provisions regarding eliminating or modifying certain disclosures while not adopting the provisions regarding additional disclosures until the effective date of the ASU. The Company is evaluating the impact of ASU 2018-13 but does not expect a material change to its fair value disclosures.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 approximated its fair value of $84,619,478 and $ 63,100,000 respectively. See Note 7 - Line of Credit. The Company estimated the fair value of its mortgage loans payable at $33,560,287 and $26,610,378 as of December 31, 2018 and 2017 , respectively. 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 $ 2,900,000 and $2,400,000 as of December 31, 2018 and 2017 , respectively. 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 AND LEA

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES	REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES The Company acquired four real estate properties during the year ended December 31, 2018 (the "2018 acquisitions"), no real estate property during the year ended December 31, 2017, and one real estate property during the year ended December 31, 2016. On December 31, 2018, the Company acquired Elston Plaza for the a purchase price of $28,350,000 excluding closing costs. The acquisition was funded with proceeds from the Offerings and by borrowing $27,000,000 under the Company's line of credit. Elston Plaza consists of a 92,806 square-foot retail property leased to 11 tenants, inclusive of a freestanding 4,860 square-foot building which is subject to a ground lease with Chase Bank. On July 17, 2018, the Company acquired three industrial properties located in Miami, Florida ("Miami Industrial") for a purchase price of $20,700,000 excluding closing costs. The acquisition was funded with proceeds from the Offerings and by borrowing $19,900,000 under the Company's line of credit. Miami Industrial consists of three warehouse distribution buildings totaling 289,919 square feet fully leased to three tenants, with one tenant per building. 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 proceeds from the Offerings and by borrowing $32,400,000 from the Company's line of credit. Allied Drive is a two -story, 64,127 square foot medical office building fully leased to three tenants. All leases at Elston Plaza and Miami Industrial have been classified as operating leases. Under ASU 2017-01, the 2018 acquisitions were determined to be asset acquisitions, resulting in the Company's capitalization of $308,207 and $141,610 of acquisition related costs for Elston Plaza and Miami Industrial, respectively. The Company's allocation of the purchase price (including acquisition related costs) of the 2018 acquisitions to the fair value of the major components of the assets acquired and liabilities assumed, using Level 3 inputs and assumptions, is as follows: Elston Plaza Miami Industrial 2018 Total Land $ 17,766,548 $ 9,420,343 $ 27,186,891 Building and improvements 12,167,891 8,124,776 20,292,667 Acquired in-place leases 8,083,407 3,751,504 11,834,911 Acquired above-market leases 69,479 — 69,479 Acquired below-market leases (9,292,157 ) (455,013 ) (9,747,170 ) Total purchase price $ 28,795,168 $ 20,841,610 $ 49,636,778 The Company allocated the purchase price of Allied Drive 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 The Company recorded revenues and net loss related to the 2018 acquisitions during the year ended December 31, 2018, and Allied Drive acquired during the year ended December 31, 2016, as follows: Year Ended December 31, 2018 Year Ended December 31, 2016 Revenues $ 809,740 $ 768,546 Net loss (39,245 ) (153,687 ) The Company’s estimated revenues and net loss, on a pro forma basis, as if the 2018 acquisitions were completed on January 1, 2017, are as follows (unaudited): Year Ended December 31, 2018 Revenues $ 23,679,891 Net loss (4,332,903 ) Basic and diluted net loss per share of Class A common stock $ (0.47 ) Basic and diluted net loss per share of Class I common stock $ (0.48 ) Basic and diluted net loss per share of Class T common stock $ (0.46 ) The pro forma information is 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. Future amortization related to acquired intangible assets and liabilities for all of the Company's properties as of December 31, 2018 is as follows: Acquired in-place leases Acquired above-market leases Acquired below-market leases 2019 $ 4,119,674 $ 107,827 $ (880,408 ) 2020 3,765,715 105,053 (862,603 ) 2021 3,558,289 100,559 (850,702 ) 2022 3,132,067 29,607 (842,446 ) 2023 1,984,701 19,558 (749,599 ) Thereafter 12,094,485 — (10,783,876 ) Total $ 28,654,931 $ 362,604 $ (14,969,634 ) Weighted average remaining amortization period (in years) 12.4 3.6 19.3

RENTALS UNDER OPERATING LEASES

RENTALS UNDER OPERATING LEASES	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
RENTALS UNDER OPERATING LEASES	RENTALS UNDER OPERATING LEASES All leases at the Company's properties have been classified as operating leases. The Company's rental and other property income from its real estate investments for the years ended December 31, 2018, 2017 and 2016 is comprised of the following: 2018 2017 2016 Rental revenue $ 15,950,864 $ 14,474,722 $ 12,477,787 Straight line revenue 188,339 502,066 836,108 Above- and below-market lease amortization, net 336,111 257,819 1,816,111 Lease incentive amortization (103,638 ) (103,638 ) (27,542 ) Rental and other property income $ 16,371,676 $ 15,130,969 $ 15,102,464 The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of all of the in-place leases in effect as of December 31, 2018 are as follows: Year ended December 31, Future Minimum Rent 2019 $ 16,617,062 2020 15,300,960 2021 13,198,611 2022 11,666,782 2023 8,645,074 Thereafter 36,330,936 $ 101,759,425 As of December 31, 2018 , the Company owned four office properties (including one medical office property), three retail properties and four industrial properties with a total of thirty-one tenants and one student housing property with 316 beds. As of December 31, 2017 and 2016 , the Company owned four office properties (including one medical office property), two retail properties and one industrial property with a total of nineteen tenants and one student housing property with 316 beds. Percentages of gross rental revenues by property and tenants 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, 2018, 2017 and 2016 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 The Flats at Carrs Hill, Athens, GA 16.5 % 17.3 % 17.3 % Loudoun Gateway, Sterling, VA 15.9 17.1 18.1 Allied Drive, Dedham, MA 15.5 16.6 4.6 Anaheim Hills Office Plaza, Anaheim, CA 12.2 12.6 12.9 Terra Nova Plaza, Chula Vista, CA 11.7 12.4 22.3 Commerce Corner, Logan Township, NJ 10.3 10.4 10.6 Total 82.1 % 86.4 % 85.8 % Percent of actual gross rental revenues Tenant Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 Orbital ATK Inc. - Loudoun Gateway 15.9 % 17.1 % 18.1 % New England Baptist Hospital - Allied Drive 13.3 14.0 3.9 The Sports Authority, Inc. - Terra Nova Plaza (1) — — 14.1 Total 29.2 % 31.1 % 36.1 % (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, 2018, 2017 and 2016 were as follows: Percent of in-place annualized base rental revenues as of Tenant December 31, 2018 December 31, 2017 December 31, 2016 Orbital ATK Inc. - Loudoun Gateway 15.9 % 18.6 % 20.3 % New England Baptist Hospital - Allied Drive 9.3 10.6 12.0 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 4.0 9.4 10.3 Total 29.2 % 38.6 % 42.6 %

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 , which consisted entirely of publicly traded shares of common stock in REITs as of each date. All marketable securities held as of December 31, 2017 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. Pursuant to ASU 2016-01 adopted by the Company (see Note 2), beginning on January 1, 2018, unrealized changes in fair value of the Company's investments in marketable securities are recorded in earnings. December 31, 2018 December 31, 2017 Marketable securities—cost $ 14,646,147 $ 9,310,538 Unrealized gains 676,315 832,651 Unrealized losses (587,428 ) (97,012 ) Net unrealized gain 88,887 735,639 Marketable securities—fair value $ 14,735,034 $ 10,046,177 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, 2018 , marketable securities sold generated proceeds of $21,549,268 resulting in gross realized gains of $560,037 and gross realized losses of $976,347 . During the year ended December 31, 2017 , marketable securities sold generated proceeds of $14,616,961 resulting in gross realized gains of $533,478 and gross realized losses of $603,465 . 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 .

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE 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 had a three -year term set to mature on March 6, 2018 with two one -year extension options exercisable by the Company upon satisfaction of certain conditions and payment of applicable extension fees. As of December 31, 2017 , the outstanding balance was $63,100,000 and the weighted average interest rate was 3.16% . As of December 31, 2017 , the maximum borrowing capacity was $69,900,795 , and the Company was in compliance with all covenants. On February 27, 2018, the Company, as guarantor, and certain of the wholly owned subsidiaries of the Operating Partnership, as co-borrowers, entered into an amended and restated secured revolving credit facility (the “Revised Wells Fargo Line of Credit”) with Wells Fargo Bank, National Association, as administrative agent, and other lending institutions that may become parties to the credit agreement. The Revised Wells Fargo Line of Credit has a three -year term maturing February 27, 2021. The Company has two one -year extension options following the initial term subject to satisfaction of certain conditions and payment of applicable extension fees. The interest rate under the Revised Wells Fargo Line of Credit is based on the 1-month London Inter-bank Offered Rate ("LIBOR") with a spread of 160 to 180 basis points depending on the debt yield as defined in the agreement. In addition, the Revised Wells Fargo Line of Credit has a maximum capacity of $100,000,000 and is expandable by the Company up to a maximum capacity of $200,000,000 upon satisfaction of specified conditions. Each requested expansion must be for at least $25,000,000 and may result in the Revised Wells Fargo Line of Credit being syndicated. As of December 31, 2018 , the outstanding balance was $84,619,478 and the weighted average interest rate was 4.07% . At any time, the borrowing capacity under the Revised 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 10% based on the in-place net operating income of the collateral pool as defined, or (3) the maximum capacity of the Revised Wells Fargo Line of Credit. Proceeds from the Revised 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, 2018 , the Company's maximum borrowing capacity was the maximum capacity of $100,000,000 . The Revised Wells Line of Credit agreement contains customary representations, warranties, borrowing conditions and affirmative, negative and financial covenants, including that there must be five properties in the collateral pool at all times, and that collateral pool also meet specified concentration provisions, unless waived by the lender. In addition, the Company, as guarantor, must meet tangible net worth hurdles. The Company was in compliance with all financial covenants as of December 31, 2018 . 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. The Nationwide Loan permits voluntary prepayment of the full amount of the Nationwide Loan at any time subject to payment of the applicable prepayment premium, which is (a) the greater of a yield maintenance calculation or 1.0% of the principal amount outstanding for prepayments occurring up to and including the 96th month of the term, (b) 2.0% of the principal amount outstanding for prepayments occurring during months 97 through 102 of the term, or (c) 1% of the principal amount outstanding for prepayments occurring during months 103 through 114 of the term. The Nationwide Loan is prepayable at par during the last six months of the term. Additionally, the Nationwide Loan contains a one-time option to be assumed by a new borrower subject to satisfaction, in Nationwide’s sole discretion, of specified conditions and payment of a fee equal to 1.0% of the outstanding balance of the Nationwide Loan. 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 with no extension options. 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 Hartford Loan permits voluntary prepayment of the full amount of the Hartford Loan at any time after 18th month of the term the subject to payment of the applicable prepayment premium, which is (a) equal to a yield maintenance calculation for prepayments occurring from the beginning of the 19th month of the term up to and including the 60th month of the term, or (b) 1.0% of the principal amount outstanding for prepayments occurring during months 61 through 72 of the term. The Hartford Loan is prepayable at par during the last twelve months of the term. Additionally, the Hartford Loan contains a one-time option to be assumed by a new borrower subject to satisfaction, in Hartford's sole discretion, of specified conditions and payment of a fee equal to 1.0% of the outstanding balance of the Hartford Loan. Transamerica Life Insurance Company On December 6, 2018, RPT Wallingford Plaza, LLC, a wholly owned subsidiary of the Operating Partnership, entered into a credit agreement with Transamerica Premier Life Insurance Company (the"Transamerica Loan"). Proceeds of $6,950,000 , net of transaction costs, obtained from the Transamerica Loan were used to repay outstanding balances under the Revised Wells Fargo Line of Credit, thereby releasing Wallingford Plaza from the Revised Wells Fargo Line of Credit. The Transamerica Loan is a secured, fully non-recourse loan with a term of ten years with no extension options. The Transamerica Loan carries a fixed interest rate of 4.56% 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 Transamerica Loan permits voluntary prepayment of the full amount of the Transamerica Loan at any time subject to payment of the applicable prepayment premium, which is equal to a yield maintenance calculation for prepayments occurring from the beginning the term up to 90 days before the maturity date. The Transamerica Loan is prepayable at par during the last ninety days of the term. Additionally, the Transamerica Loan contains a one-time option to be assumed by a new borrower subject to satisfaction, in Transamerica’s sole discretion, of specified conditions and payment of a fee equal to 1.0% of the outstanding balance of the Transamerica Loan. The following is a reconciliation of the carrying amounts of the line of credit and mortgage loans payable as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 Line of credit $ 84,619,478 $ 63,100,000 Deduct: Deferred financing costs, less accumulated amortization (573,858 ) (77,939 ) Line of credit, net $ 84,045,620 $ 63,022,061 Mortgage loans payable $ 34,450,000 $ 27,500,000 Deduct: Deferred financing costs, less accumulated amortization (394,721 ) (245,569 ) Mortgage loans payable, net $ 34,055,279 $ 27,254,431 Aggregate future principal payments due on the line of credit and mortgage loans payable as of December 31, 2018 are as follows: Year Amount 2019 $ 253,331 2020 262,106 2021 84,992,158 2022 396,238 2023 12,053,845 Thereafter 21,111,800 Total $ 119,069,478

RELATED PARTY ARRANGEMENTS

RELATED PARTY ARRANGEMENTS	12 Months Ended
	Dec. 31, 2018
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, 2020. There is no limit to the number of terms for which the Advisory Agreement can be renewed. Fees Under the Advisory Agreement, RREEF America can earn an advisory fee split between two components as described below. 1. The fixed component accrues daily in an amount equal to 1/365th of 1.0% of the NAV of the outstanding shares of each class of common stock for such day. The fixed component of the advisory fee is payable monthly in arrears. 2. The performance component is calculated for each class of common stock on the basis of the total return to stockholders of each class and is measured by the total distributions per share declared 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 (the “Hurdle Amount”), RREEF America will receive up to 10% of the aggregate total return allocable to such class with a Catch-Up (defined below) calculated as follows: first, if the total return for the applicable period exceeds the Hurdle Amount, 25% of such total return in excess of the Hurdle Amount (the “Excess Profits”) until the total return reaches 10% (commonly referred to as a “Catch-Up”); and second, to the extent there are remaining Excess Profits, 10% of such remaining Excess Profits. 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, 2018, 2017 and 2016 are shown below. Year Ended December 31, 2018 2017 2016 Fixed component $ 1,267,755 $ 1,050,573 900,726 Performance component 573,875 672,900 274,905 $ 1,841,630 $ 1,723,473 $ 1,175,631 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 RREEF America's employees who perform services for the Company (but not those employees for which RREEF America earns a separate fee or those employees who are executive officers of the Company) and travel related costs for RREEF America's employees who incur such costs on behalf of the Company. Reimbursement payments to RREEF America are subject to the limitations described below under "Reimbursement Limitations." For the years ended December 31, 2018 and 2017 , RREEF America incurred $306,498 and $267,942 in reimbursable operating expenses, respectively, that were subject to reimbursement under the terms and conditions of the Advisory Agreement. As of December 31, 2018 and 2017 , the Company had a payable to RREEF America of $73,100 and $ 58,874 , respectively, for operating expenses reimbursable under the terms and conditions of 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 pro rata basis over 60 months beginning in January 2014. The Deferred O&O balance was fully reimbursed as of December 31, 2018 . For the years ended December 31, 2018 and 2017 , the Company reimbursed RREEF America $928,216 and $923,159 , respectively, for Deferred O&O. The amount of Deferred O&O payable to RREEF America is as follows: December 31, 2018 December 31, 2017 Total Deferred O&O $ 4,618,318 $ 4,618,318 Cumulative reimbursements made to RREEF America (4,618,318 ) (3,690,102 ) Remaining Deferred O&O reimbursable to RREEF America $ — $ 928,216 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 date upon which the aggregate Expense Payments by RREEF America reached $9,200,000 . As of 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. The Company has not received any Expense Payments since December 31, 2015. Pursuant to the Expense Support Agreement, reimbursement of the Expense Payments was triggered in January 2016, for which the Company would reimburse RREEF America $250,000 per quarter. 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% . 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 is instead being 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% . For the years ended December 31, 2018 and 2017 , the Company amortized $145,135 and $142,355 , respectively, 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 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 (the "Dealer Manager Agreement") with DWS Distributors, Inc. (formerly known as Deutsche AM Distributors, Inc.), an affiliate of the Company's sponsor and advisor (the "Dealer Manager"). The Dealer Manager Agreement governs the distribution by the Dealer Manager of the Company’s Class A shares, Class I shares, Class N shares and Class T shares of common stock in the Follow-On Public Offering and any subsequent registered public offering. In connection with the ongoing Trailing Fees to be paid in the future, the Company and the Dealer Manager entered into an agreement whereby the Company will pay to the Dealer Manager the Trailing Fees that are attributable to the Company's shares issued in the Company's Initial Public Offering that remain outstanding. In addition, the Company is obligated to pay to the Dealer Manager Trailing Fees that are attributable to the Company's shares issued in the Follow-On Public Offering. As of December 31, 2018 and 2017 , the Company has accrued $85,874 and $67,279 , respectively, in Trailing Fees currently payable to the Dealer Manager, and $3,107,322 and $2,238,576 , respectively, in Trailing Fees estimated to become payable in the future to the Dealer Manager, both of which are included in due to affiliates on the consolidated balance sheets. The Company also pays the Dealer Manager upfront selling commissions and upfront dealer manager fees in connection with its Offerings, as applicable. For the years ended December 31, 2018 and 2017 , the Dealer Manager has earned upfront selling commissions and upfront dealer manager fees totaling $542,383 and $122,801 , respectively. For the six months ended December 31, 2016 , which were the first six months of the engagement of the Dealer Manager, the Dealer Manager earned upfront selling commissions and upfront dealer manager fees totaling $6,145 . Under the Dealer Manager Agreement, the Company is obligated to reimburse the Dealer Manager for certain offering costs incurred by the 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 Dealer Manager who are dedicated to the distribution of the Company's shares of common stock. For the years ended December 31, 2018 and 2017 , the Dealer Manager incurred $321,862 and $315,622 , respectively. As of December 31, 2018 and 2017 , the Company had payable to the Dealer Manager $329,382 and $315,622 , respectively, of such cost which were included in due to affiliates on the consolidated balance sheets. 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 or the Dealer Manager 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. Through June 30, 2016, which was the end of the Initial Public Offering, 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, 2018 and 2017 $ 4,618,318 $ 3,775,369 $ 7,031,029 $ 15,424,716 (1) Includes $770,887 and $1,355,890 of accrued trailing fees for the Initial Public Offering as of December 31, 2018 and 2017, respectively. As of December 31, 2018 , in the Follow-On Public Offering, the Company had raised $68,104,871 in gross proceeds and incurred total organization and offering costs of $6,953,825 , including estimated accrued Trailing Fees payable in the future of $2,336,435 . 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, 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, 2018 , total operating expenses of the Company were $3,712,160 , which did not exceed the 2% / 25% Guidelines. For the four fiscal quarters ended December 31, 2017 , total operating expenses of the Company were $ 3,339,537 , which did not exceed the 2% / 25% Guidelines. Due to Affiliates and Note to Affiliate In accordance with all the above, as of December 31, 2018 and 2017 , the Company owed RREEF America and the Dealer Manager the following amounts: December 31, 2018 December 31, 2017 Deferred O&O $ — $ 928,216 Reimbursable under the advisory agreement 73,100 58,874 Reimbursable under Dealer Manager Agreement 329,382 315,622 Advisory fees 696,384 766,624 Accrued Trailing Fees, including currently payable portion 3,193,196 2,305,855 Due to affiliates $ 4,292,062 $ 4,375,191 Note to Affiliate $ 8,950,000 $ 8,950,000 Unamortized discount (1,364,618 ) (1,509,753 ) Note to Affiliate, net of unamortized discount $ 7,585,382 $ 7,440,247

CAPITALIZATION

CAPITALIZATION	12 Months Ended
	Dec. 31, 2018
Capitalization [Abstract]
CAPITALIZATION	CAPITALIZATION Under the Company's charter, as most recently amended on February 16, 2017, the Company has the authority to issue 1,000,000,000 shares of common stock and 50,000,000 shares of preferred stock. All shares of such stock have a par value of $0.01 per share. The Company's authorized shares of common stock are allocated between classes as follows: Common Stock No. of Authorized Shares Class A shares 200,000,000 Class I shares 200,000,000 Class T shares 250,000,000 Class D shares 50,000,000 Class N shares 300,000,000 1,000,000,000 Class A shares are subject to selling commissions of up to 3% of the purchase price, and annual dealer manager fees of 0.55% and annual 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. Class T shares are subject to selling commissions of up to 3% of the purchase price, an upfront 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 (assuming the maximum selling commission was charged at purchase). Class D shares sold in the Private Offering are subject to selling commissions of up to 1.0% of the purchase price, but do not incur any dealer manager or distribution fees. Class N shares are not sold in the primary 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. Prior to February 16, 2017, Class T shares were subject to selling commissions of up to 3% of the purchase price, an upfront 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 (assuming the maximum selling commission was charged at purchase). 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, may 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 December 31, 2018, 2017 and 2016 , redemption requests were received as shown below. The Company funded these redemptions with cash flow from operations, borrowings on the Wells Fargo Line of Credit or offering proceeds. The weighted average redemption prices are shown before allowing for any applicable 2% short-term trading discounts. Year ended December 31, 2018 Shares Weighted Average Share Price Amount Class A 576,130 $ 13.95 $ 8,036,195 Class I 181,840 13.98 2,534,285 Year ended December 31, 2017 Shares Weighted Average Share Price Amount Class A 279,647 $ 13.48 $ 3,769,850 Class I 394,416 13.61 5,368,042 Class T 4,043 * 15.29 61,818 * Repurchased in private transactions. 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 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.

NET LOSS PER SHARE (Notes)

NET LOSS PER SHARE (Notes)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE The Company computes net earnings or loss per share of Class A, Class I and Class T common stock using the two-class method. RREEF America may earn a performance component of the advisory fee (see Note 8) which may impact the net earnings or loss of each class of common stock differently. The calculated performance component for the years ended December 31, 2018, 2017 and 2016 , and the impact on each class of common stock, are shown below. Basic and diluted net loss per share for each class of common stock is computed using the weighted-average number of common shares outstanding during the period for each class of common stock. The Company has not issued any dilutive or potentially dilutive securities, and thus the basic and diluted net loss per share for a given class of common stock is the same for each period presented. The following table sets forth the computation of basic and diluted net loss per share for each of the Company’s Class A, Class I and Class T common stock. Year Ended December 31, 2018 Class A Class I Class T Basic and diluted net loss per share: Allocation of net loss before performance fee $ (1,281,920 ) $ (1,765,786 ) $ (107,749 ) Allocation of performance fees (207,021 ) (352,805 ) (14,049 ) Total Numerator $ (1,488,941 ) $ (2,118,591 ) $ (121,798 ) Denominator - weighted average number of common shares outstanding 3,691,760 5,085,231 310,304 Basic and diluted net loss per share: $ (0.40 ) $ (0.42 ) $ (0.39 ) — Year Ended December 31, 2017 Class A Class I Class T Basic and diluted net loss per share: Allocation of net loss before performance fee $ (978,373 ) $ (1,086,451 ) $ (3,955 ) Allocation of performance fees (283,358 ) (387,354 ) (2,188 ) Total Numerator $ (1,261,731 ) $ (1,473,805 ) $ (6,143 ) Denominator - weighted average number of common shares outstanding 3,678,616 4,084,980 14,871 Basic and diluted net loss per share: $ (0.34 ) $ (0.36 ) $ (0.41 ) Year Ended December 31, 2016 Class A Class I Class T Basic and diluted net loss per share: Allocation of net loss before performance fee $ (2,084,671 ) $ (1,984,511 ) $ (2,389 ) Allocation of performance fees (115,515 ) (158,985 ) (405 ) Total Numerator $ (2,200,186 ) $ (2,143,496 ) $ (2,794 ) Denominator - weighted average number of common shares outstanding 3,511,189 3,342,490 4,024 Basic and diluted net loss per share: $ (0.63 ) $ (0.64 ) $ (0.69 )

DISTRIBUTIONS

DISTRIBUTIONS	12 Months Ended
	Dec. 31, 2018
Distributions [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS In order to qualify as a REIT, the Company is required, among other things, to distribute dividends 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 beginning 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 2018, 2017 and 2016 . Three Months Ended Total March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Declared daily distribution rate, before adjustment for class-specific fees $ 0.00189004 $ 0.00190140 $ 0.00192261 $ 0.00192836 Distributions paid or payable in cash $ 780,511 $ 831,391 $ 928,395 $ 980,091 $ 3,520,388 Distributions reinvested 619,468 661,799 733,528 802,226 2,817,021 Distributions declared $ 1,399,979 $ 1,493,190 $ 1,661,923 $ 1,782,317 $ 6,337,409 Class A shares issued upon reinvestment 22,714 22,901 23,500 22,805 91,920 Class I shares issued upon reinvestment 21,479 23,520 27,180 32,291 104,470 Class T shares issued upon reinvestment 678 976 1,548 1,855 5,057 Three Months Ended Total March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Declared daily distribution rate, before adjustment for class-specific fees $ 0.00183555 $ 0.00183207 $ 0.00185445 $ 0.00186845 Distributions paid or payable in cash $ 716,755 $ 742,522 $ 772,986 $ 771,149 $ 3,003,412 Distributions reinvested 518,614 541,538 578,604 603,473 2,242,229 Distributions declared $ 1,235,369 $ 1,284,060 $ 1,351,590 $ 1,374,622 $ 5,245,641 Class A shares issued upon reinvestment 23,567 23,806 23,649 23,348 94,370 Class I shares issued upon reinvestment 15,152 16,611 18,986 20,269 71,018 Class T shares issued upon reinvestment — — 17 399 416 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 fees $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

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
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, qualified 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, qualified dividend income or capital gain dividends. 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, 2018, 2017 and 2016 : Characterization Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 Ordinary income 24.4049 % 19.2608 % 22.9152 % Capital gain distribution — — 1.5666 Nondividend distributions (return of capital) 75.5951 80.7392 75.5182 Total 100.0000 % 100.0000 % 100.0000 % Net worth and similar taxes paid to certain states where the Company owns real estate properties were $24,167 , $42,198 and $6,221 for the years ended December 31, 2018, 2017 and 2016 , respectively. The Company assesses its significant tax positions in accordance with U.S. GAAP for all open tax years and determine whether it has any material unrecognized liabilities from uncertain tax benefits. If a tax position is not considered “more-likely-than-not” to be sustained solely on its technical merits, no benefits of the tax position are to be recognized (for financial statement purposes). As of December 31, 2018 and 2017, the Company has no assets or liabilities for uncertain tax positions. With few exceptions, the Company is no longer subject to U.S. federal or state income tax examinations by tax authorities for years before 2015.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION For the years ended December 31, 2018, 2017 and 2016 , 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, 2018, and 2017 and net loss for the years ended December 31, 2018, 2017 and 2016 . Real Estate Properties Real Estate Equity Securities Total Carrying value as of December 31, 2018 $ 202,256,644 $ 14,735,034 $ 216,991,678 Reconciliation to total assets of December 31, 2018 Carrying value per reportable segments $ 216,991,678 Corporate level assets 9,207,473 Total assets $ 226,199,151 Carrying value as of December 31, 2017 $ 150,923,848 $ 10,046,177 $ 160,970,025 Reconciliation to total assets of December 31, 2017 Carrying value per reportable segments $ 160,970,025 Corporate level assets 8,346,307 Total assets $ 169,316,332 Real Estate Properties Real Estate Equity Securities Total Year Ended December 31, 2018 Revenues Rental and other property income $ 16,371,676 $ — $ 16,371,676 Tenant reimbursement income 2,540,334 — 2,540,334 Investment income on marketable securities — 505,903 505,903 Total revenues 18,912,010 505,903 19,417,913 Segment operating expenses 5,875,616 48,952 5,924,568 Net realized gain (loss) upon sale of marketable securities — (416,310 ) (416,310 ) Net unrealized change in fair value of investment in marketable securities — (646,752 ) (646,752 ) Operating income (loss) - Segments $ 13,036,394 $ (606,111 ) $ 12,430,283 Year Ended December 31, 2017 Revenues Rental and other property income $ 15,130,969 $ — $ 15,130,969 Tenant reimbursement income 2,347,670 — 2,347,670 Investment income on marketable securities — 307,114 307,114 Total revenues 17,478,639 307,114 17,785,753 Segment operating expenses 5,497,497 37,887 5,535,384 Net realized gain (loss) upon sale of marketable securities — (69,987 ) (69,987 ) Net unrealized change in fair value of investment in marketable securities — — — Operating income (loss) - Segments $ 11,981,142 $ 199,240 $ 12,180,382 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 Segment operating expenses 5,158,942 31,818 5,190,760 Net realized gain (loss) upon sale of marketable securities — 193,285 193,285 Net unrealized change in fair value of investment in marketable securities — — — Operating income (loss) - Segments $ 11,458,294 $ 646,379 $ 12,104,673 Year Ended December 31, Reconciliation to net loss 2018 2017 2016 Operating income - Segments $ 12,430,283 $ 12,180,382 $ 12,104,673 General and administrative expenses (1,845,697 ) (1,617,523 ) (2,059,598 ) Advisory expenses (1,841,630 ) (1,723,473 ) (1,175,631 ) Acquisition related expenses — — (158,762 ) Depreciation (4,504,015 ) (4,338,253 ) (3,826,198 ) Amortization (4,132,926 ) (3,721,628 ) (6,803,850 ) Operating income (loss) 106,015 779,505 (1,919,366 ) Interest expense (3,835,345 ) (3,521,184 ) (2,427,110 ) Net loss $ (3,729,330 ) $ (2,741,679 ) $ (4,346,476 )

ECONOMIC DEPENDENCY

ECONOMIC DEPENDENCY	12 Months Ended
	Dec. 31, 2018
Economic Dependency [Abstract]
ECONOMIC DEPENDENCY	ECONOMIC DEPENDENCY The Company depends on RREEF America and the Dealer Manager for certain services that are essential to the Company, including the sale of the Company's shares of common stock, asset acquisition and disposition decisions and other general and administrative responsibilities. In the event that RREEF America or the Dealer Manager is unable to provide such services, the Company would be required to find alternative service providers.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
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, 2018
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, 2018, 2017 and 2016 . For the Quarter Ended March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Revenues from real estate investments $ 4,503,520 $ 4,382,864 $ 4,990,915 $ 5,034,711 Investment income on marketable securities 88,852 119,925 136,832 160,294 Total revenues 4,592,372 4,502,789 5,127,747 5,195,005 Operating expenses (4,198,626 ) (4,203,089 ) (4,863,184 ) (4,983,937 ) Interest expense (903,550 ) (884,364 ) (1,012,974 ) (1,034,457 ) Net realized gain (loss) upon sale of marketable securities (253,480 ) (155,052 ) 201,769 (209,547 ) Net unrealized change in fair value of investments in marketable securities (500,518 ) 981,763 (201,223 ) (926,774 ) Net (loss) gain $ (1,263,802 ) $ 242,047 $ (747,865 ) $ (1,959,710 ) Weighted average number of common shares outstanding - basic and diluted Class A 3,686,669 3,691,785 3,777,836 3,610,639 Weighed average number of common shares outstanding - basic and diluted Class I 4,467,002 4,793,077 5,202,959 5,861,271 Weighted average number of common shares outstanding - basic and diluted Class T 79,305 150,764 426,209 578,181 Basic and diluted net loss per share - Class A $ (0.15 ) $ 0.03 $ (0.08 ) $ (0.20 ) Basic and diluted net loss per share - Class I $ (0.15 ) $ 0.03 $ (0.08 ) $ (0.22 ) Basic and diluted net loss per share - Class T $ (0.15 ) $ 0.03 $ (0.07 ) $ (0.20 ) For the Quarter Ended March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Revenues from real estate investments $ 4,334,333 $ 4,314,974 $ 4,359,945 $ 4,469,387 Investment income on marketable securities 43,876 76,980 84,836 101,422 Total revenues 4,378,209 4,391,954 4,444,781 4,570,809 Operating expenses (3,991,176 ) (4,054,288 ) (4,497,226 ) (4,393,571 ) Interest expense (825,479 ) (886,455 ) (910,512 ) (898,738 ) Net realized gain (loss) upon sale of marketable securities 54,702 (6,906 ) (25,389 ) (92,394 ) Net loss $ (383,744 ) $ (555,695 ) $ (988,346 ) $ (813,894 ) Weighted average number of common shares outstanding - basic and diluted Class A 3,650,176 3,699,115 3,677,266 3,687,513 Weighed average number of common shares outstanding - basic and diluted Class I 3,827,801 4,008,144 4,240,550 4,257,000 Weighted average number of common shares outstanding - basic and diluted Class T (1) 1,662 — 6,982 54,264 Basic and diluted net loss per share - Class A $ (0.05 ) $ (0.07 ) $ (0.12 ) $ (0.10 ) Basic and diluted net loss per share - Class I $ (0.05 ) $ (0.08 ) $ (0.13 ) $ (0.10 ) Basic and diluted net loss per share - Class T (1) $ (0.05 ) $ — $ (0.10 ) $ (0.10 ) (1) There were no Class T shares outstanding at any point during the quarter ended June 30, 2017. 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 gain (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 - Class A 3,306,184 3,444,743 3,634,486 3,655,393 Weighted average number of common shares outstanding - Class I 3,067,537 3,308,240 3,408,307 3,581,521 Weighted average number of common shares outstanding - Class T 2,513 4,043 4,043 4,043 Basic and diluted net loss per share - Class A $ (0.22 ) $ (0.15 ) $ (0.17 ) $ (0.10 ) Basic and diluted net loss per share - Class I $ (0.22 ) $ (0.15 ) $ (0.18 ) $ (0.10 ) Basic and diluted net loss per share - Class T $ (0.22 ) $ (0.15 ) $ (0.22 ) $ (0.11 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 3, 2019 , the Company announced that its board of directors declared a cash distribution equal to $0.00193545 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, 2019 through March 31, 2019 .

SCHEDULE III Real Estate and Ac

SCHEDULE III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2018 Initial cost (A) Gross Amount at Which Carried at December 31, 2018 (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) $ 7,620,364 $ 2,310,684 $ 10,989,316 $ — $ 13,300,000 $ (5,356,773 ) 2002 5/31/2013 5 - 40 Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail) (I) 6,950,000 3,713,306 9,014,642 — 12,727,948 (1,750,384 ) 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 (2,972,061 ) 1998 4/11/2014 5 - 40 Anaheim Hills Office Plaza, Anaheim, CA, Office (E) 11,114,029 6,519,531 11,980,469 679,816 19,179,816 (4,727,277 ) 2008 7/2/2014 5 - 40 Shops at Terra Nova Plaza, Chula Vista, CA, Retail (E) 12,658,868 10,628,293 11,221,707 — 21,850,000 (2,446,886 ) 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 23,856,248 290,760 27,290,760 (5,602,994 ) 2013 9/30/2015 5 - 27.5 Loudoun Gateway I, Sterling, VA, Office (E) 11,563,942 2,042,441 19,907,559 — 21,950,000 (5,805,947 ) 1998 12/21/2015 5 - 40 40 Allied Drive, Dedham, MA, Medical Office (E) 17,613,610 5,483,925 28,516,075 — 34,000,000 (3,052,281 ) 2013 9/27/2016 5 - 40 Palmetto Lakes, Miami Lakes, FL, Industrial (E) 6,364,565 6,054,039 7,005,768 11,988 13,071,795 (370,378 ) 1974 7/17/2018 5 - 40 Hialeah I, Miami, FL, Industrial (E) 2,112,595 1,641,786 2,749,440 2,400 4,393,626 (238,442 ) 1962 7/17/2018 5 - 40 Hialeah II, Miami, FL, Industrial (E) 1,639,140 1,724,518 1,666,059 — 3,390,577 (88,425 ) 1961 7/17/2018 5 - 40 Elston Plaza, Chicago, IL, Retail (E) 13,932,365 17,766,548 11,028,620 — 28,795,168 (832 ) 1983 12/31/2018 5 - 40 Total Investments in Real Estate $ 119,069,478 $ 64,425,503 $ 154,289,223 $ 984,964 $ 219,699,690 $ (32,412,680 ) (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, 2018 for federal income tax purposes was approximately $222,700,000 (unaudited). (C) Reconciliation of real estate owned for the years ended December 31: 2018 2017 2016 Balance at January 1 $ 169,438,132 $ 169,207,139 $ 135,082,125 Acquisitions 49,636,778 — 34,000,000 Additions 624,780 230,993 125,014 Balance at December 31 $ 219,699,690 $ 169,438,132 $ 169,207,139 (D) Reconciliation of accumulated depreciation and amortization for the years ended December 31: 2018 2017 2016 Balance at January 1 $ 24,181,800 $ 16,430,049 $ 7,635,728 Depreciation and amortization expense 8,230,880 7,751,751 8,794,321 Balance at December 31 $ 32,412,680 $ 24,181,800 $ 16,430,049 (E) Encumbrance of $84,619,478 is from the line of credit that is secured by the properties listed above. (F) Includes gross intangible lease assets of $48,699,723 and gross intangible lease liabilities of $18,430,925 . (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. (I) Wallingford Plaza has an encumbrance of $6,950,000 from Transamerica Life Insurance Company.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), the authoritative reference for U.S. generally accepted accounting principles (“GAAP”). There have been no significant changes to the Company's significant accounting policies during the year ended December 31, 2018 except for the adoption of certain Accounting Standards Updates ("ASU") noted below in Note 2.
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.
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. Ordinary repair and maintenance costs that do not materially improve the condition or useful life of the property are expensed as incurred. In January 2017, FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, the intent of which is to assist entities with evaluating whether transactions should be accounted for as acquisitions (and dispositions) of assets or businesses. Under the previous implementation guidance, real estate was broadly interpreted to be a business, which required, among other things, that acquisition related costs be expensed at the time of acquisition. The amendments in ASU 2017-01 provide a screen to determine when a set of identifiable assets is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. Generally, a real estate asset and its related leases will be considered a single identifiable asset and therefore will not meet the definition of a business. If the real estate and related leases in an acquisition are determined to be an asset and not a business, then the acquisition related costs would be capitalized onto the consolidated balance sheet. The Company adopted ASU 2017-01 on its effective date of January 1, 2018, which did not have an impact on the Company's consolidated financial statements. See Note 4 for details of the impact of ASU 2017-01 on the property acquisitions completed by the Company during the year ended December 31, 2018 . 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, 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, 2018 and 2017, none of the Company's real estate investments were impaired.
Investments in Marketable Securities	Investments in Marketable Securities In accordance with the Company’s investment guidelines as approved by the Company’s board of directors, investments in marketable securities may consist of common and preferred stock of publicly traded REITs and other real estate operating companies. Through December 31, 2017 , the Company determined the appropriate classification for these securities at the time of purchase and reevaluated such designation as of each balance sheet date, resulting in the Company classifying its investments in marketable securities as available-for-sale as the Company intended 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. Through December 31, 2017, unrealized gains and losses have been reported in accumulated other comprehensive loss. Effective January 1, 2018, the Company adopted ASU 2016-01, Financial Statements - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities, which improves certain aspects of the recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 revised the accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. Beginning January 1, 2018, the net unrealized change in the fair value of the Company's investments in marketable securities is recorded in earnings as part of operating income or loss. The Company adopted ASU 2016-01 using a modified retrospective approach that resulted in recording, on January 1, 2018, a cumulative effect adjustment of $735,639 of net unrealized gain on its investments in marketable securities as of December 31, 2017 into deficit in the accompanying consolidated financial statements. The Company has reclassified the $69,987 of net realized loss and $193,285 of net realized gain upon sale of marketable securities on the accompanying consolidated statements of operations for the years ended December 31, 2017 and 2016, respectively, to include it in operating income or loss for comparative purposes. This reclassification has not changed the Company's net loss for the years ended December 31, 2017 and 2016. 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.
Borrowings	Borrowings The Company may obtain various forms of borrowings from market participants. Direct financing costs associated with obtaining borrowings, such as commitment fees, legal fees and other third-party costs, are capitalized and amortized over the terms of the borrowings using a method which approximates the effective interest method. Amortization of financing costs is included in interest expense in the consolidated statements of operations. The unamortized portion of financing costs is reflected as a reduction of the outstanding debt balance on the consolidated balance sheets. 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 for the termination of an entire lease 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. In May 2014, FASB issued ASU 2014-09, Revenue From Contracts With Customers. ASU 2014-09 requires entities to recognize revenue in their financial statements in a manner that depicts the transfer of the promised goods or services to its customers in an amount that reflects the consideration to which the entity is entitled at the time of transfer of those goods or services. As a result, the amount and timing of revenue recognition may be affected. However, certain types of contracts are excluded from the provisions of ASU 2014-09, including leases. Other types of real estate related contracts, such as for dispositions or development of real estate, will be impacted by ASU 2014-09. In addition, ASU 2014-09 requires additional disclosures regarding revenue recognition. The Company adopted ASU 2014-09, as amended, on its effective of January 1, 2018, using the cumulative effect adjustment method in the period of adoption. The adoption of ASU 2014-09 did not have an impact on the Company's consolidated financial statements. Investment income from marketable securities is accrued at each distribution record date.
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 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 (which inures to the benefit all Class A and Class I stockholders). 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 in the future on the outstanding shares. Such estimate reflects the Company's assumptions for certain variables, including future redemptions, share price appreciation and the total gross proceeds to be raised during each 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, possibly 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 dividends 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. The Tax Cuts and Jobs Act signed into law in December 2017 did not change the above provisions related to qualification as a REIT.
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.
Net Earnings or Loss Per Share	Net Earnings or Loss Per Share Net earnings or loss per share is calculated using the two-class method. The two-class method is utilized when an entity (1) has different classes of common stock that participate differently in net earnings or loss, or (2) has issued participating securities, which are securities that participate in distributions separately from the entity’s common stock. Pursuant to the advisory agreement between the Company and its advisor (see Note 8), the advisor may earn a performance component of the advisory fee which is calculated separately for each class of common stock which therefore may result in a different allocation of net earnings or loss to each class of common stock. In periods where no performance component of the advisory fee is recognized in the Company’s consolidated statement of operations, the net earnings or loss per share will be the same for each class of common stock.
Concentration of Credit Risk	Concentration of Credit Risk As of December 31, 2018 and 2017 , 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncement s In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows, (Topic 230): Classification of Cash Receipts and Cash Payments , which identifies the principles for the classification of eight specific types of cash flow with the objective of providing specific guidance on these specified cash flows. The cash flows that may be pertinent to the Company in the future include debt prepayment or debt extinguishment costs, contingent consideration of payments made after a business combination, proceeds from the settlement of insurance claims and distributions received. In addition, ASU 2016-15 also specifies the classification of cash flows for payments made under zero-coupon debt instruments, such as the Company's note to affiliate on its consolidated balance sheet as of December 31, 2018 . During the year ended December 31, 2016, the Company made one payment of $250,000 to its advisor under the note to affiliate. Under ASU 2016-15, the portion of such payment representing the imputed interest expense, which was $91,726 , is included in cash flows from operating activities. Under previous GAAP, the entire payment of $250,000 was reported as a financing activity. The Company adopted ASU 2016-15 on its effective date of January 1, 2018. ASU 2016-15 must be applied retrospectively, implying that prior periods presented should be adjusted to conform to ASU 2016-15, unless to do so would be impracticable. Accordingly, the adoption of ASU 2016-15 impacted the Company's consolidated cash flow statement for the 2016 period in its Annual Report on Form 10-K for the year ending December 31, 2018. Aside from the reclassification related to the aforementioned payment to RREEF America under the note to affiliate, the Company's adoption of ASU 2016-15 did not have a material impact on its consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. This new guidance is effective for the Company on January 1, 2019. ASU 2016–02 requires lessees to recognize leases on their balance sheet, and leaves lessor accounting largely unchanged. ASU 2016–02 requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales–type leases, direct financing leases and operating leases and requires lessors to capitalize and amortize only incremental direct leasing costs. The guidance provides an optional transition method which would allow entities to initially apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings, if necessary, and provides a package of practical expedients whereby companies will not be required to reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification (operating versus capital/financing leases) for any expired or existing leases and (iii) initial direct costs for any existing leases ("Package of Practical Expedients"). The Company has adopted ASU 2016-02 beginning on January 1, 2019 and has elected the Package of Practical Expedients, which permits us to (a) continue ASC 840 accounting for leases that commenced prior to January 1, 2019 for the remainder of those lease terms, and (b) apply ASU 2016–02 to leases that commence or are modified after January 1, 2019. The Company does not have any arrangements in which it is the lessee and will therefore not be required to recognize a lease liability or right of use asset within its consolidated balance sheet upon adoption of ASU 2016-02. ASU 2016–02 requires lessors to expense costs incurred to negotiate or arrange a lease regardless of outcome, such as tax or legal advice to negotiate lease terms and costs to advertise or solicit potential tenants, while capitalizing initial direct costs. By electing the Package of Practical Expedients, initial direct costs that were capitalized prior to adoption of ASU 2016–02 are not reassessed. Therefore, such costs shall continue to be amortized over corresponding lease terms. In July 2018, FASB issued ASU 2018-11, Leases (Topic 842) - Targeted Improvements. Under ASU 2018-11, a lessor may elect a practical expedient to not separate lease and non-lease components of a lease and instead account for them as a single component if two criteria are met: (1) the timing and pattern of transfer of the non-lease component(s) and associated lease component are the same, and (2) the lease component, if accounted for separately, would be classified as an operating lease. Regarding leases for which the Company is the lessor, the accounting for lease components will be largely unchanged from existing policy as the Company has elected to apply the practical expedient within ASU 2018-11 available to lessors which allows lessors the option to forgo separating non-lease components from lease components when the two aforementioned criteria are met. With respect to the the Company's leases to which this practical expedient could apply, the Company believes the lease component is the predominant component and the leases satisfy the two aforementioned criteria. The Company believes adoption of ASU 2018-11 will not significantly change the accounting for rental and other revenues from operating leases where the Company is the lessor, and that such leases will be accounted for in a manner similar to existing standards with the underlying leased asset being reported and recognized as a real estate asset. As a result of adopting this practical expedient, all leases for which the Company is the lessor, including both lease and non-lease components, will be accounted for together under ASC 842, and the accounting treatment will remain consistent with the Company’s existing policies. However, the Company does expect to report rental and other property income and tenant reimbursement income, which has historically been disclosed as two separate line items on the Company's consolidated statements of operations, as a single line item within the consolidated statements of operations beginning January 1, 2019. In December 2018, FASB issued ASU 2018-20, Leases (Topic 842) - Narrow Scope Improvements for Lessors. Under ASU 2018-20, lessor costs that are paid by a lessee directly to a third party (as opposed to reimbursing the lessor) are required to be shown net within the Company’s consolidated financial statements. The Company's existing policies comply with ASU 2018-20 and as such the adoption of ASU 2018-20 will not have an impact on the Company's consolidated financial statements. In August 2018, FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to Disclosure Requirements for Fair Value Measurement . ASU 2018-13 changes the fair value measurement disclosure requirements of ASC 820 by eliminating, modifying or adding certain disclosure requirements for fair value measurements. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods therein. However, ASU 2018-13 allows an entity to early adopt the provisions regarding eliminating or modifying certain disclosures while not adopting the provisions regarding additional disclosures until the effective date of the ASU. The Company is evaluating the impact of ASU 2018-13 but does not expect a material change to its fair value disclosures.

REAL ESTATE INVESTMENTS AND L_2

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Schedule of Real Estate Acquired, Purchase Price Allocation	The Company's allocation of the purchase price (including acquisition related costs) of the 2018 acquisitions to the fair value of the major components of the assets acquired and liabilities assumed, using Level 3 inputs and assumptions, is as follows: Elston Plaza Miami Industrial 2018 Total Land $ 17,766,548 $ 9,420,343 $ 27,186,891 Building and improvements 12,167,891 8,124,776 20,292,667 Acquired in-place leases 8,083,407 3,751,504 11,834,911 Acquired above-market leases 69,479 — 69,479 Acquired below-market leases (9,292,157 ) (455,013 ) (9,747,170 ) Total purchase price $ 28,795,168 $ 20,841,610 $ 49,636,778 The Company allocated the purchase price of Allied Drive 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
Asset Acquisition, Pro Forma Information	The Company recorded revenues and net loss related to the 2018 acquisitions during the year ended December 31, 2018, and Allied Drive acquired during the year ended December 31, 2016, as follows: Year Ended December 31, 2018 Year Ended December 31, 2016 Revenues $ 809,740 $ 768,546 Net loss (39,245 ) (153,687 ) The Company’s estimated revenues and net loss, on a pro forma basis, as if the 2018 acquisitions were completed on January 1, 2017, are as follows (unaudited): Year Ended December 31, 2018 Revenues $ 23,679,891 Net loss (4,332,903 ) Basic and diluted net loss per share of Class A common stock $ (0.47 ) Basic and diluted net loss per share of Class I common stock $ (0.48 ) Basic and diluted net loss per share of Class T common stock $ (0.46 )
Schedule Future Amortization Related to Acquired Intangible Assets and Liabilities	Future amortization related to acquired intangible assets and liabilities for all of the Company's properties as of December 31, 2018 is as follows: Acquired in-place leases Acquired above-market leases Acquired below-market leases 2019 $ 4,119,674 $ 107,827 $ (880,408 ) 2020 3,765,715 105,053 (862,603 ) 2021 3,558,289 100,559 (850,702 ) 2022 3,132,067 29,607 (842,446 ) 2023 1,984,701 19,558 (749,599 ) Thereafter 12,094,485 — (10,783,876 ) Total $ 28,654,931 $ 362,604 $ (14,969,634 ) Weighted average remaining amortization period (in years) 12.4 3.6 19.3

RENTALS UNDER OPERATING LEASES

RENTALS UNDER OPERATING LEASES RENTALS UNDER OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Schedule of Rental and Other Property Income	The Company's rental and other property income from its real estate investments for the years ended December 31, 2018, 2017 and 2016 is comprised of the following: 2018 2017 2016 Rental revenue $ 15,950,864 $ 14,474,722 $ 12,477,787 Straight line revenue 188,339 502,066 836,108 Above- and below-market lease amortization, net 336,111 257,819 1,816,111 Lease incentive amortization (103,638 ) (103,638 ) (27,542 ) Rental and other property income $ 16,371,676 $ 15,130,969 $ 15,102,464
Lessor, Operating Lease, Payments to be Received, Maturity	The future minimum rentals to be received, excluding tenant reimbursements, under the non-cancelable portions of all of the in-place leases in effect as of December 31, 2018 are as follows: Year ended December 31, Future Minimum Rent 2019 $ 16,617,062 2020 15,300,960 2021 13,198,611 2022 11,666,782 2023 8,645,074 Thereafter 36,330,936 $ 101,759,425
Tenants Representing Greater Than 10% of Gross Rental Revenues	The Company's tenants representing more than 10% of in-place annualized base rental revenues as of December 31, 2018, 2017 and 2016 were as follows: Percent of in-place annualized base rental revenues as of Tenant December 31, 2018 December 31, 2017 December 31, 2016 Orbital ATK Inc. - Loudoun Gateway 15.9 % 18.6 % 20.3 % New England Baptist Hospital - Allied Drive 9.3 10.6 12.0 Gateway One Lending and Finance, L.L.C. - Anaheim Hills Office Plaza 4.0 9.4 10.3 Total 29.2 % 38.6 % 42.6 % Percentages of gross rental revenues by property and tenants 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, 2018, 2017 and 2016 are shown below. Percent of actual gross rental revenues Property Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 The Flats at Carrs Hill, Athens, GA 16.5 % 17.3 % 17.3 % Loudoun Gateway, Sterling, VA 15.9 17.1 18.1 Allied Drive, Dedham, MA 15.5 16.6 4.6 Anaheim Hills Office Plaza, Anaheim, CA 12.2 12.6 12.9 Terra Nova Plaza, Chula Vista, CA 11.7 12.4 22.3 Commerce Corner, Logan Township, NJ 10.3 10.4 10.6 Total 82.1 % 86.4 % 85.8 % Percent of actual gross rental revenues Tenant Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 Orbital ATK Inc. - Loudoun Gateway 15.9 % 17.1 % 18.1 % New England Baptist Hospital - Allied Drive 13.3 14.0 3.9 The Sports Authority, Inc. - Terra Nova Plaza (1) — — 14.1 Total 29.2 % 31.1 % 36.1 %

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018 and 2017 , which consisted entirely of publicly traded shares of common stock in REITs as of each date. All marketable securities held as of December 31, 2017 were available-for-sale securities and none were considered impaired on an other-than-temporary basis. Pursuant to ASU 2016-01 adopted by the Company (see Note 2), beginning on January 1, 2018, unrealized changes in fair value of the Company's investments in marketable securities are recorded in earnings. December 31, 2018 December 31, 2017 Marketable securities—cost $ 14,646,147 $ 9,310,538 Unrealized gains 676,315 832,651 Unrealized losses (587,428 ) (97,012 ) Net unrealized gain 88,887 735,639 Marketable securities—fair value $ 14,735,034 $ 10,046,177

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	The following is a reconciliation of the carrying amounts of the line of credit and mortgage loans payable as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 Line of credit $ 84,619,478 $ 63,100,000 Deduct: Deferred financing costs, less accumulated amortization (573,858 ) (77,939 ) Line of credit, net $ 84,045,620 $ 63,022,061 Mortgage loans payable $ 34,450,000 $ 27,500,000 Deduct: Deferred financing costs, less accumulated amortization (394,721 ) (245,569 ) Mortgage loans payable, net $ 34,055,279 $ 27,254,431
Schedule of Maturities of Long-term Debt	Aggregate future principal payments due on the line of credit and mortgage loans payable as of December 31, 2018 are as follows: Year Amount 2019 $ 253,331 2020 262,106 2021 84,992,158 2022 396,238 2023 12,053,845 Thereafter 21,111,800 Total $ 119,069,478

RELATED PARTY ARRANGEMENTS (Tab

RELATED PARTY ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The amount of Deferred O&O payable to RREEF America is as follows: December 31, 2018 December 31, 2017 Total Deferred O&O $ 4,618,318 $ 4,618,318 Cumulative reimbursements made to RREEF America (4,618,318 ) (3,690,102 ) Remaining Deferred O&O reimbursable to RREEF America $ — $ 928,216 The fees earned by RREEF America for the years ended December 31, 2018, 2017 and 2016 are shown below. Year Ended December 31, 2018 2017 2016 Fixed component $ 1,267,755 $ 1,050,573 900,726 Performance component 573,875 672,900 274,905 $ 1,841,630 $ 1,723,473 $ 1,175,631 In accordance with all the above, as of December 31, 2018 and 2017 , the Company owed RREEF America and the Dealer Manager the following amounts: December 31, 2018 December 31, 2017 Deferred O&O $ — $ 928,216 Reimbursable under the advisory agreement 73,100 58,874 Reimbursable under Dealer Manager Agreement 329,382 315,622 Advisory fees 696,384 766,624 Accrued Trailing Fees, including currently payable portion 3,193,196 2,305,855 Due to affiliates $ 4,292,062 $ 4,375,191 Note to Affiliate $ 8,950,000 $ 8,950,000 Unamortized discount (1,364,618 ) (1,509,753 ) Note to Affiliate, net of unamortized discount $ 7,585,382 $ 7,440,247 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, 2018 and 2017 $ 4,618,318 $ 3,775,369 $ 7,031,029 $ 15,424,716 (1) Includes $770,887 and $1,355,890 of accrued trailing fees for the Initial Public Offering as of December 31, 2018 and 2017, respectively.

CAPITALIZATION (Tables)

CAPITALIZATION (Tables)	12 Months Ended
	Dec. 31, 2018
Capitalization [Abstract]
Schedule of Authorized Common Shares	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
Schedule of Repurchase Agreements	During the years ended December 31, 2018, 2017 and 2016 , redemption requests were received as shown below. The Company funded these redemptions with cash flow from operations, borrowings on the Wells Fargo Line of Credit or offering proceeds. The weighted average redemption prices are shown before allowing for any applicable 2% short-term trading discounts. Year ended December 31, 2018 Shares Weighted Average Share Price Amount Class A 576,130 $ 13.95 $ 8,036,195 Class I 181,840 13.98 2,534,285 Year ended December 31, 2017 Shares Weighted Average Share Price Amount Class A 279,647 $ 13.48 $ 3,769,850 Class I 394,416 13.61 5,368,042 Class T 4,043 * 15.29 61,818 * Repurchased in private transactions. 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

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share	The following table sets forth the computation of basic and diluted net loss per share for each of the Company’s Class A, Class I and Class T common stock. Year Ended December 31, 2018 Class A Class I Class T Basic and diluted net loss per share: Allocation of net loss before performance fee $ (1,281,920 ) $ (1,765,786 ) $ (107,749 ) Allocation of performance fees (207,021 ) (352,805 ) (14,049 ) Total Numerator $ (1,488,941 ) $ (2,118,591 ) $ (121,798 ) Denominator - weighted average number of common shares outstanding 3,691,760 5,085,231 310,304 Basic and diluted net loss per share: $ (0.40 ) $ (0.42 ) $ (0.39 ) — Year Ended December 31, 2017 Class A Class I Class T Basic and diluted net loss per share: Allocation of net loss before performance fee $ (978,373 ) $ (1,086,451 ) $ (3,955 ) Allocation of performance fees (283,358 ) (387,354 ) (2,188 ) Total Numerator $ (1,261,731 ) $ (1,473,805 ) $ (6,143 ) Denominator - weighted average number of common shares outstanding 3,678,616 4,084,980 14,871 Basic and diluted net loss per share: $ (0.34 ) $ (0.36 ) $ (0.41 ) Year Ended December 31, 2016 Class A Class I Class T Basic and diluted net loss per share: Allocation of net loss before performance fee $ (2,084,671 ) $ (1,984,511 ) $ (2,389 ) Allocation of performance fees (115,515 ) (158,985 ) (405 ) Total Numerator $ (2,200,186 ) $ (2,143,496 ) $ (2,794 ) Denominator - weighted average number of common shares outstanding 3,511,189 3,342,490 4,024 Basic and diluted net loss per share: $ (0.63 ) $ (0.64 ) $ (0.69 )

DISTRIBUTIONS (Tables)

DISTRIBUTIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Distributions [Abstract]
Schedule of Distributions	Shown below are details of the Company's distributions for 2018, 2017 and 2016 . Three Months Ended Total March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Declared daily distribution rate, before adjustment for class-specific fees $ 0.00189004 $ 0.00190140 $ 0.00192261 $ 0.00192836 Distributions paid or payable in cash $ 780,511 $ 831,391 $ 928,395 $ 980,091 $ 3,520,388 Distributions reinvested 619,468 661,799 733,528 802,226 2,817,021 Distributions declared $ 1,399,979 $ 1,493,190 $ 1,661,923 $ 1,782,317 $ 6,337,409 Class A shares issued upon reinvestment 22,714 22,901 23,500 22,805 91,920 Class I shares issued upon reinvestment 21,479 23,520 27,180 32,291 104,470 Class T shares issued upon reinvestment 678 976 1,548 1,855 5,057 Three Months Ended Total March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Declared daily distribution rate, before adjustment for class-specific fees $ 0.00183555 $ 0.00183207 $ 0.00185445 $ 0.00186845 Distributions paid or payable in cash $ 716,755 $ 742,522 $ 772,986 $ 771,149 $ 3,003,412 Distributions reinvested 518,614 541,538 578,604 603,473 2,242,229 Distributions declared $ 1,235,369 $ 1,284,060 $ 1,351,590 $ 1,374,622 $ 5,245,641 Class A shares issued upon reinvestment 23,567 23,806 23,649 23,348 94,370 Class I shares issued upon reinvestment 15,152 16,611 18,986 20,269 71,018 Class T shares issued upon reinvestment — — 17 399 416 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 fees $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

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018, 2017 and 2016 : Characterization Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 Ordinary income 24.4049 % 19.2608 % 22.9152 % Capital gain distribution — — 1.5666 Nondividend distributions (return of capital) 75.5951 80.7392 75.5182 Total 100.0000 % 100.0000 % 100.0000 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following tables set forth the carrying value, revenue and the components of operating income of the Company's segments reconciled to total assets as of December 31, 2018, and 2017 and net loss for the years ended December 31, 2018, 2017 and 2016 . Real Estate Properties Real Estate Equity Securities Total Carrying value as of December 31, 2018 $ 202,256,644 $ 14,735,034 $ 216,991,678 Reconciliation to total assets of December 31, 2018 Carrying value per reportable segments $ 216,991,678 Corporate level assets 9,207,473 Total assets $ 226,199,151 Carrying value as of December 31, 2017 $ 150,923,848 $ 10,046,177 $ 160,970,025 Reconciliation to total assets of December 31, 2017 Carrying value per reportable segments $ 160,970,025 Corporate level assets 8,346,307 Total assets $ 169,316,332 Real Estate Properties Real Estate Equity Securities Total Year Ended December 31, 2018 Revenues Rental and other property income $ 16,371,676 $ — $ 16,371,676 Tenant reimbursement income 2,540,334 — 2,540,334 Investment income on marketable securities — 505,903 505,903 Total revenues 18,912,010 505,903 19,417,913 Segment operating expenses 5,875,616 48,952 5,924,568 Net realized gain (loss) upon sale of marketable securities — (416,310 ) (416,310 ) Net unrealized change in fair value of investment in marketable securities — (646,752 ) (646,752 ) Operating income (loss) - Segments $ 13,036,394 $ (606,111 ) $ 12,430,283 Year Ended December 31, 2017 Revenues Rental and other property income $ 15,130,969 $ — $ 15,130,969 Tenant reimbursement income 2,347,670 — 2,347,670 Investment income on marketable securities — 307,114 307,114 Total revenues 17,478,639 307,114 17,785,753 Segment operating expenses 5,497,497 37,887 5,535,384 Net realized gain (loss) upon sale of marketable securities — (69,987 ) (69,987 ) Net unrealized change in fair value of investment in marketable securities — — — Operating income (loss) - Segments $ 11,981,142 $ 199,240 $ 12,180,382 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 Segment operating expenses 5,158,942 31,818 5,190,760 Net realized gain (loss) upon sale of marketable securities — 193,285 193,285 Net unrealized change in fair value of investment in marketable securities — — — Operating income (loss) - Segments $ 11,458,294 $ 646,379 $ 12,104,673 Year Ended December 31, Reconciliation to net loss 2018 2017 2016 Operating income - Segments $ 12,430,283 $ 12,180,382 $ 12,104,673 General and administrative expenses (1,845,697 ) (1,617,523 ) (2,059,598 ) Advisory expenses (1,841,630 ) (1,723,473 ) (1,175,631 ) Acquisition related expenses — — (158,762 ) Depreciation (4,504,015 ) (4,338,253 ) (3,826,198 ) Amortization (4,132,926 ) (3,721,628 ) (6,803,850 ) Operating income (loss) 106,015 779,505 (1,919,366 ) Interest expense (3,835,345 ) (3,521,184 ) (2,427,110 ) Net loss $ (3,729,330 ) $ (2,741,679 ) $ (4,346,476 )

QUARTERLY RESULTS (UNAUDITED) (

QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2018, 2017 and 2016 . For the Quarter Ended March 31, 2018 June 30, 2018 September 30, 2018 December 31, 2018 Revenues from real estate investments $ 4,503,520 $ 4,382,864 $ 4,990,915 $ 5,034,711 Investment income on marketable securities 88,852 119,925 136,832 160,294 Total revenues 4,592,372 4,502,789 5,127,747 5,195,005 Operating expenses (4,198,626 ) (4,203,089 ) (4,863,184 ) (4,983,937 ) Interest expense (903,550 ) (884,364 ) (1,012,974 ) (1,034,457 ) Net realized gain (loss) upon sale of marketable securities (253,480 ) (155,052 ) 201,769 (209,547 ) Net unrealized change in fair value of investments in marketable securities (500,518 ) 981,763 (201,223 ) (926,774 ) Net (loss) gain $ (1,263,802 ) $ 242,047 $ (747,865 ) $ (1,959,710 ) Weighted average number of common shares outstanding - basic and diluted Class A 3,686,669 3,691,785 3,777,836 3,610,639 Weighed average number of common shares outstanding - basic and diluted Class I 4,467,002 4,793,077 5,202,959 5,861,271 Weighted average number of common shares outstanding - basic and diluted Class T 79,305 150,764 426,209 578,181 Basic and diluted net loss per share - Class A $ (0.15 ) $ 0.03 $ (0.08 ) $ (0.20 ) Basic and diluted net loss per share - Class I $ (0.15 ) $ 0.03 $ (0.08 ) $ (0.22 ) Basic and diluted net loss per share - Class T $ (0.15 ) $ 0.03 $ (0.07 ) $ (0.20 ) For the Quarter Ended March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Revenues from real estate investments $ 4,334,333 $ 4,314,974 $ 4,359,945 $ 4,469,387 Investment income on marketable securities 43,876 76,980 84,836 101,422 Total revenues 4,378,209 4,391,954 4,444,781 4,570,809 Operating expenses (3,991,176 ) (4,054,288 ) (4,497,226 ) (4,393,571 ) Interest expense (825,479 ) (886,455 ) (910,512 ) (898,738 ) Net realized gain (loss) upon sale of marketable securities 54,702 (6,906 ) (25,389 ) (92,394 ) Net loss $ (383,744 ) $ (555,695 ) $ (988,346 ) $ (813,894 ) Weighted average number of common shares outstanding - basic and diluted Class A 3,650,176 3,699,115 3,677,266 3,687,513 Weighed average number of common shares outstanding - basic and diluted Class I 3,827,801 4,008,144 4,240,550 4,257,000 Weighted average number of common shares outstanding - basic and diluted Class T (1) 1,662 — 6,982 54,264 Basic and diluted net loss per share - Class A $ (0.05 ) $ (0.07 ) $ (0.12 ) $ (0.10 ) Basic and diluted net loss per share - Class I $ (0.05 ) $ (0.08 ) $ (0.13 ) $ (0.10 ) Basic and diluted net loss per share - Class T (1) $ (0.05 ) $ — $ (0.10 ) $ (0.10 ) (1) There were no Class T shares outstanding at any point during the quarter ended June 30, 2017. 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 gain (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 - Class A 3,306,184 3,444,743 3,634,486 3,655,393 Weighted average number of common shares outstanding - Class I 3,067,537 3,308,240 3,408,307 3,581,521 Weighted average number of common shares outstanding - Class T 2,513 4,043 4,043 4,043 Basic and diluted net loss per share - Class A $ (0.22 ) $ (0.15 ) $ (0.17 ) $ (0.10 ) Basic and diluted net loss per share - Class I $ (0.22 ) $ (0.15 ) $ (0.18 ) $ (0.10 ) Basic and diluted net loss per share - Class T $ (0.22 ) $ (0.15 ) $ (0.22 ) $ (0.11 )

ORGANIZATION (Details)

ORGANIZATION (Details)	May 30, 2013USD ($)class_of_stock$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)	Feb. 16, 2017$ / shares	Jul. 12, 2016USD ($)	Feb. 01, 2016	Jan. 27, 2016$ / shares	Jan. 20, 2016USD ($)	Jan. 15, 2016$ / shares	Jan. 03, 2013USD ($)
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Value of shares offered pursuant to registration statement											$ 2,250,000,000
Dividend reinvestment plan											$ 250,000,000
Issuance of common stock, value	$ 10,000,000	$ 39,896,952	$ 15,780,040	$ 27,604,469
Common stock, par value (in usd per share) | $ / shares	$ 0.01				$ 0.01
Number of classes of shares | class_of_stock	2
Common Class D
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01							$ 0.01
Private offering value of shares offered									$ 350,000,000
Common Class T
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common stock, par value (in usd per share) | $ / shares		0.01	0.01					$ 0.01
Underwriting compensation for initial public offering as percent of gross offering proceeds					8.50%		8.50%
Common Class N
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01					$ 0.01
Follow-On Public Offering
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 ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended												12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Feb. 16, 2017	Feb. 15, 2017	Feb. 01, 2016	Jan. 20, 2016USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment					$ 0									$ 0
Realized (loss) gain on sale of marketable securities	$ (209,547)	$ 201,769	$ (155,052)	$ (253,480)	(92,394)	$ (25,389)	$ (6,906)	$ 54,702	$ (179,450)	$ 243,689	$ 223,991	$ (94,945)	$ (416,310)	(69,987)	$ 193,285
Maximum offering costs as percentage of gross proceeds from initial public offering	15.00%												15.00%
Accrued trailing fee-estimated payable for future	$ 3,107,322				2,238,576								$ 3,107,322	2,238,576
Percentage of taxable income required for REIT distribution	90.00%												90.00%
Number of primary segments | segment													3
Due to related party, expenses, quarterly repayment commitment									$ 250,000						250,000
Amortization of discount on note to affiliate													$ 145,135	142,355	209,772
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
RREEF America
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%			10.00%
Due to related party, expenses, quarterly repayment commitment																			$ 250,000
Common Class A
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of distribution fee	0.50%												0.50%			0.50%
Percentage of dealer manager fee	0.55%												0.55%			0.55%
Common Class I
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of dealer manager fee	0.55%												0.55%			0.55%
Common Class T
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Underwriting compensation for initial public offering as percent of gross offering proceeds																8.50%		8.50%
Percentage of distribution fee	1.00%												1.00%			1.00%	1.00%
Percentage of dealer manager fee																2.50%	2.75%
Related Party Note | RREEF America
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Due to related party, expenses, quarterly repayment commitment												250,000
Amortization of discount on note to affiliate												$ 91,726	$ 145,135	142,355	$ 91,726
Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment					735,639									735,639
Accounting Standards Update 2016-01 | Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment					$ 735,639									$ 735,639

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Wells Fargo Bank
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of credit, fair value	$ 84,619,478	$ 63,100,000
Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of mortgage loans payable	33,560,287	26,610,378
RREEF America
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of note to affiliate	$ 2,900,000	$ 2,400,000

REAL ESTATE INVESTMENTS AND L_3

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES - Narrative (Details)	Dec. 31, 2018USD ($)ft²tenant	Jul. 17, 2018USD ($)ft²Propertytenant	Sep. 27, 2016USD ($)ft²storytenant	Dec. 31, 2018USD ($)ft²Propertytenant	Dec. 31, 2017USD ($)Propertytenant	Dec. 31, 2016USD ($)Propertytenant
Real Estate Properties [Line Items]
Number of real estate properties acquired | Property				4	0	1
Acquisition funded from lines of credit				$ 47,900,000	$ 3,250,000	$ 36,600,000
Number of tenants | tenant	31			31	19	19
Investment in real estate and related assets				$ 49,014,932	$ 0	$ 33,761,415
Elston Plaza, Chicago, IL, Retail
Real Estate Properties [Line Items]
Acquisition funded from lines of credit	$ 27,000,000
Number of tenants | tenant	11			11
Investment in real estate and related assets	$ 28,350,000
Acquisition-related costs capitalized	$ 308,207
Miami Industrial Properties
Real Estate Properties [Line Items]
Number of real estate properties acquired | Property		3
Acquisition funded from lines of credit		$ 19,900,000
Number of tenants | tenant		3
Area of retail property (in sq ft) | ft²		289,919
Investment in real estate and related assets		$ 20,700,000
Acquisition-related costs capitalized		$ 141,610
Allied Drive
Real Estate Properties [Line Items]
Acquisition funded from lines of credit			$ 32,400,000
Number of tenants | tenant			3
Investment in real estate and related assets			$ 34,000,000
Number of stories | story			2
Net rentable area | ft²			64,127
Retail Property | Elston Plaza, Chicago, IL, Retail
Real Estate Properties [Line Items]
Area of retail property (in sq ft) | ft²	92,806			92,806
Ground Leased | Elston Plaza, Chicago, IL, Retail
Real Estate Properties [Line Items]
Area of retail property (in sq ft) | ft²	4,860			4,860
Warehouse | Miami Industrial Properties
Real Estate Properties [Line Items]
Number of real estate properties acquired | Property		3

REAL ESTATE INVESTMENTS AND L_4

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES - Purchase Price Allocation (Details) - USD ($)	Dec. 31, 2018	Jul. 17, 2018	Sep. 27, 2016
Business Acquisition [Line Items]
Land	$ 27,186,891
Building and improvements	20,292,667
Acquired in-place leases	11,834,911
Acquired above-market leases	69,479
Acquired below-market leases	(9,747,170)
Total purchase price	49,636,778
Elston Plaza, Chicago, IL, Retail
Business Acquisition [Line Items]
Land	17,766,548
Building and improvements	12,167,891
Acquired in-place leases	8,083,407
Acquired above-market leases	69,479
Acquired below-market leases	(9,292,157)
Total purchase price	$ 28,795,168
Miami Industrial Properties
Business Acquisition [Line Items]
Land		$ 9,420,343
Building and improvements		8,124,776
Acquired in-place leases		3,751,504
Acquired above-market leases		0
Acquired below-market leases		(455,013)
Total purchase price		$ 20,841,610
Allied Drive
Business Acquisition [Line Items]
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

REAL ESTATE INVESTMENTS AND L_5

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES - Net Income Acquired from Properties (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Real Estate Properties [Line Items]
Revenues	$ 5,195,005	$ 5,127,747	$ 4,502,789	$ 4,592,372	$ 4,570,809	$ 4,444,781	$ 4,391,954	$ 4,378,209	$ 4,487,951	$ 5,210,824	$ 3,618,562	$ 3,784,811	$ 19,417,913	$ 17,785,753	$ 17,102,148
Net loss	$ (1,959,710)	$ (747,865)	$ 242,047	$ (1,263,802)	$ (813,894)	$ (988,346)	$ (555,695)	$ (383,744)	$ (690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	(3,729,330)	$ (2,741,679)	(4,346,476)
2018 Acquisitions
Real Estate Properties [Line Items]
Revenues													809,740
Net loss													$ (39,245)
Allied Drive
Real Estate Properties [Line Items]
Revenues															768,546
Net loss															$ (153,687)

REAL ESTATE INVESTMENTS AND L_6

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES - Pro Forma Information (Details)	12 Months Ended
	Dec. 31, 2018USD ($)$ / shares
Real Estate [Line Items]
Revenues | $	$ 23,679,891
Net loss | $	$ (4,332,903)
Common Class A
Real Estate [Line Items]
Basic and diluted net loss per share (in dollars per share)	$ (0.47)
Common Class I
Real Estate [Line Items]
Basic and diluted net loss per share (in dollars per share)	(0.48)
Common Class T
Real Estate [Line Items]
Basic and diluted net loss per share (in dollars per share)	$ (0.46)

REAL ESTATE INVESTMENTS AND L_7

REAL ESTATE INVESTMENTS AND LEASE INTANGIBLES - Amortization (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Acquired below-market leases
2,019	$ (880,408)
2,020	(862,603)
2,021	(850,702)
2,022	(842,446)
2,023	(749,599)
Thereafter	(10,783,876)
Total	$ (14,969,634)
Weighted average remaining amortization period (in years)	19 years 3 months 2 days
Acquired in-place leases
Acquired in-place and above-market leases
2,019	$ 4,119,674
2,020	3,765,715
2,021	3,558,289
2,022	3,132,067
2,023	1,984,701
Thereafter	12,094,485
Total	$ 28,654,931
Acquired below-market leases
Weighted average remaining amortization period (in years)	12 years 4 months 7 days
Acquired above-market leases
Acquired in-place and above-market leases
2,019	$ 107,827
2,020	105,053
2,021	100,559
2,022	29,607
2,023	19,558
Thereafter	0
Total	$ 362,604
Acquired below-market leases
Weighted average remaining amortization period (in years)	3 years 7 months 2 days

RENTALS UNDER OPERATING LEASE_2

RENTALS UNDER OPERATING LEASES Rental and Other Property Income (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Leases [Abstract]
Rental revenue													$ 15,950,864	$ 14,474,722	$ 12,477,787
Straight line revenue													188,339	502,066	836,108
Above- and below-market lease amortization, net													336,111	257,819	1,816,111
Lease incentive amortization													(103,638)	(103,638)	(27,542)
Rental and other property income	$ 5,034,711	$ 4,990,915	$ 4,382,864	$ 4,503,520	$ 4,469,387	$ 4,359,945	$ 4,314,974	$ 4,334,333	$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	$ 16,371,676	$ 15,130,969	$ 15,102,464

RENTALS UNDER OPERATING LEASE_3

RENTALS UNDER OPERATING LEASES Future Minimum Rental Payments Due (Details)	Dec. 31, 2018USD ($)
Leases [Abstract]
2,019	$ 16,617,062
2,020	15,300,960
2,021	13,198,611
2,022	11,666,782
2,023	8,645,074
Thereafter	36,330,936
Total future minimum payments due	$ 101,759,425

RENTALS UNDER OPERATING LEASE_4

RENTALS UNDER OPERATING LEASES Narrative (Details)	3 Months Ended												12 Months Ended
	Dec. 31, 2018USD ($)Propertytenantbed	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)Propertytenantbed	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)Propertytenantbed	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2018USD ($)Propertytenantbed	Dec. 31, 2017USD ($)Propertytenantbed	Dec. 31, 2016USD ($)Propertytenantbed	Sep. 26, 2016USD ($)	Sep. 02, 2016
Operating Leased Assets [Line Items]
Number of tenants | tenant	31				19				19				31	19	19
Allowance for doubtful accounts	$ 6,278				$ 9,586								$ 6,278	$ 9,586
Amortization													4,132,926	3,721,628	$ 6,803,850
Rental and other property income	$ 5,034,711	$ 4,990,915	$ 4,382,864	$ 4,503,520	$ 4,469,387	$ 4,359,945	$ 4,314,974	$ 4,334,333	$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	$ 16,371,676	$ 15,130,969	$ 15,102,464
Office Building
Operating Leased Assets [Line Items]
Number of real estate properties | Property	4				4				4				4	4	4
Medical Office Property
Operating Leased Assets [Line Items]
Number of real estate properties | Property	1				1				1				1	1	1
Retail Property
Operating Leased Assets [Line Items]
Number of real estate properties | Property	3				2				2				3	2	2
Industrial Property
Operating Leased Assets [Line Items]
Number of real estate properties | Property	4				1				1				4	1	1
Student Campus
Operating Leased Assets [Line Items]
Number of real estate properties | Property	1				1				1				1	1	1
Number of beds | bed	316				316				316				316	316	316
Dick's Sporting Goods
Operating Leased Assets [Line Items]
Term of lease																	10 years
The Sports Authority Inc.
Operating Leased Assets [Line Items]
Allowance for doubtful accounts																$ 315,548
Deferred rent receivable																$ 228,208
Amortization															$ 1,897,869
Rental and other property income															$ 1,499,234

RENTALS UNDER OPERATING LEASE_5

RENTALS UNDER OPERATING LEASES Concentration Risk (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	82.10%	86.40%	85.80%
Sales Revenue, Gross | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	29.20%	31.10%	36.10%
Annualized Base Rental Revenues [Member] | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	29.20%	38.60%	42.60%
Orbital ATK Inc. - Loudoun Gateway | Sales Revenue, Gross | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	15.90%	17.10%	18.10%
Orbital ATK Inc. - Loudoun Gateway | Annualized Base Rental Revenues [Member] | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	15.90%	18.60%	20.30%
New England Baptist Hospital - Allied Drive | Sales Revenue, Gross | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	13.30%	14.00%	3.90%
New England Baptist Hospital - Allied Drive | Annualized Base Rental Revenues [Member] | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	9.30%	10.60%	12.00%
The Sports Authority, Inc. - Terra Nova Plaza | Sales Revenue, Gross | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	0.00%	0.00%	14.10%
Gateway One Lending and Finance, L.L.C | Annualized Base Rental Revenues [Member] | Tenant
Operating Leased Assets [Line Items]
Concentration risk percentage	4.00%	9.40%	10.30%
Flats at Carrs Hill, Athens, GA | Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	16.50%	17.30%	17.30%
Loudoun Gateway, Sterling, VA | Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	15.90%	17.10%	18.10%
Allied Drive | Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	15.50%	16.60%	4.60%
Anaheim Hills Office Plaza, Anaheim, CA | Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	12.20%	12.60%	12.90%
Terra Nova Plaza, Chula Vista, CA | Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	11.70%	12.40%	22.30%
Commerce Corner, Logan Township, NJ | Sales Revenue, Gross | Property
Operating Leased Assets [Line Items]
Concentration risk percentage	10.30%	10.40%	10.60%

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Marketable securities—cost	$ 14,646,147	$ 9,310,538
Unrealized gains	676,315	832,651
Unrealized losses	(587,428)	(97,012)
Net unrealized gain	88,887	735,639
Marketable securities—fair value	14,735,034	10,046,177
Proceeds from sale of marketable securities	21,549,268	14,616,961	$ 13,711,596
Gross realized gains from sale of marketable securities	560,037	533,478	894,812
Gross realized losses from sale of marketable securities	$ 976,347	$ 603,465	$ 701,527

NOTES PAYABLE - Narrative (Deta

NOTES PAYABLE - Narrative (Details)

Dec. 06, 2018USD ($)

Feb. 27, 2018USD ($)Propertyextension_option

Dec. 01, 2016USD ($)

Mar. 01, 2016USD ($)

Mar. 06, 2015extension_option

Dec. 31, 2018USD ($)

Sep. 30, 2018USD ($)

Jun. 30, 2018USD ($)

Mar. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Sep. 30, 2017USD ($)

Jun. 30, 2017USD ($)

Mar. 31, 2017USD ($)

Dec. 31, 2016USD ($)

Sep. 30, 2016USD ($)

Jun. 30, 2016USD ($)

Mar. 31, 2016USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2016USD ($)

Line of Credit Facility [Line Items]

Mortgage loans payable, net

$ 34,055,279

$ 27,254,431

$ 34,055,279

$ 27,254,431

Interest expense

1,034,457

$ 1,012,974

$ 884,364

$ 903,550

898,738

$ 910,512

$ 886,455

$ 825,479

$ 769,188

$ 541,561

$ 550,654

$ 565,707

3,835,345

3,521,184

$ 2,427,110

Mortgages

Line of Credit Facility [Line Items]

Mortgage loans payable, net

34,055,279

27,254,431

34,055,279

27,254,431

Nationwide Bank | Mortgages

Line of Credit Facility [Line Items]

Line of credit term

10 years

Mortgage loans payable, net

$ 14,500,000

14,500,000

14,500,000

Interest rate

3.63%

Interest expense

$ 43,862

Debt covenant, payment fee, percentage of outstanding loan balance

1.00%

Hartford Life Insurance Company | Mortgages

Line of Credit Facility [Line Items]

Line of credit term

7 years

Mortgage loans payable, net

$ 13,000,000

13,000,000

13,000,000

Interest rate

3.41%

Debt covenant, percentage of principal

1.00%

Debt covenant, payment fee, percentage of outstanding loan balance

1.00%

Fixed rate period

24 months

Amortization period

30 years

LIBOR | Wells Fargo Bank | Minimum

Line of Credit Facility [Line Items]

Basis spread on variable interest rate

1.60%

LIBOR | Wells Fargo Bank | Maximum

Line of Credit Facility [Line Items]

Basis spread on variable interest rate

1.80%

Wells Fargo Line of Credit | Wells Fargo Bank

Line of Credit Facility [Line Items]

Number of extension periods | extension_option

2

Extension period

1 year

Line of credit

$ 63,100,000

$ 63,100,000

Line of credit, interest rate at period end

3.16%

3.16%

Line of credit, current borrowing capacity

$ 69,900,795

$ 69,900,795

Wells Fargo Line of Credit | Line of Credit | Wells Fargo Bank

Line of Credit Facility [Line Items]

Line of credit term

3 years

Revised Wells Fargo Line of Credit | Wells Fargo Bank

Line of Credit Facility [Line Items]

Line of credit term

3 years

Number of extension periods | extension_option

2

Extension period

1 year

Line of credit

$ 84,619,478

$ 84,619,478

Line of credit, interest rate at period end

4.07%

4.07%

Maximum borrowing capacity

$ 100,000,000

Maximum borrowing capacity

200,000,000

Expansion feature, increase limit - at least

$ 25,000,000

Percentage of property value

65.00%

Percentage of minimum debt yield

10.00%

Number of real estate properties | Property

5

Transamerica Loan | Secured Debt

Line of Credit Facility [Line Items]

Line of credit term

10 years

Interest rate

4.56%

Debt covenant, payment fee, percentage of outstanding loan balance

1.00%

Fixed rate period

24 months

Amortization period

30 years

Yield maintenance calculation, prepayment period before maturity

90 days

Proceeds from secured debt

$ 6,950,000

Up to and including the 96th month | Nationwide Bank | Mortgages

Line of Credit Facility [Line Items]

Debt covenant, percentage of principal

1.00%

Months 97 through 102 | Nationwide Bank | Mortgages

Line of Credit Facility [Line Items]

Debt covenant, percentage of principal

2.00%

Months 103 through 114 | Nationwide Bank | Mortgages

Line of Credit Facility [Line Items]

Debt covenant, percentage of principal

1.00%

NOTES PAYABLE - Line of Credit

NOTES PAYABLE - Line of Credit and Mortgage Loans Payable (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Line of Credit Facility [Line Items]
Line of credit, net	$ 84,045,620	$ 63,022,061
Mortgage loans payable	119,069,478
Mortgage loans payable, net	34,055,279	27,254,431
Mortgages
Line of Credit Facility [Line Items]
Mortgage loans payable	34,450,000	27,500,000
Deduct: Deferred financing costs, less accumulated amortization	(394,721)	(245,569)
Mortgage loans payable, net	34,055,279	27,254,431
Revised Wells Fargo Line of Credit | Wells Fargo Bank
Line of Credit Facility [Line Items]
Line of credit	84,619,478
Deduct: Deferred financing costs, less accumulated amortization	(573,858)
Line of credit, net	$ 84,045,620
Wells Fargo Line of Credit | Wells Fargo Bank
Line of Credit Facility [Line Items]
Line of credit		63,100,000
Deduct: Deferred financing costs, less accumulated amortization		(77,939)
Line of credit, net		$ 63,022,061

NOTES PAYABLE - Aggregate Futur

NOTES PAYABLE - Aggregate Future Minimum Payments (Details)	Dec. 31, 2018USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2,019	$ 253,331
2,020	262,106
2,021	84,992,158
2,022	396,238
2,023	12,053,845
Thereafter	21,111,800
Total	$ 119,069,478

RELATED PARTY ARRANGEMENTS - Na

RELATED PARTY ARRANGEMENTS - Narrative (Details)	Apr. 25, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018USD ($)component$ / shares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 03, 2014USD ($)	Jun. 30, 2016USD ($)	Feb. 16, 2017	Jan. 20, 2016USD ($)	Jan. 01, 2016USD ($)
Related Party Transaction [Line Items]
Due to affiliate				$ 4,292,062	$ 4,375,191
Due to related party, expenses, quarterly repayment commitment			$ 250,000			$ 250,000
Due to related parties				4,292,062	4,375,191
Amortization of discount on note to affiliate				145,135	142,355	209,772
Minimum offering proceeds needed before expense repayment	$ 500,000,000
Accrued trailing fee, current				85,874	67,279
Accrued trailing fee-estimated payable for future				3,107,322	2,238,576
Upfront selling commissions and upfront dealer manager fees			$ 6,145	$ 542,383	122,801
Maximum offering costs as percentage of gross proceeds from public offering				15.00%
Proceeds from common stock issuance, initial public offering									$ 102,831,442
Payment of organization and offering costs				$ 3,787,174	2,200,426	3,836,270
Four fiscal quarter total operating expense				3,712,160	3,339,537
Follow-On Public Offering
Related Party Transaction [Line Items]
Accrued trailing fee-estimated payable for future				2,336,435
Due to affiliate				68,104,871
Payment of organization and offering costs				$ 6,953,825
RREEF America
Related Party Transaction [Line Items]
Term of agreements				1 year
Number of components | component				2
Percentage of advisory fee to NAV				1.00%
Daily advisory fee accrued as percentage of fixed component of investment				0.00274%
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 | $ / shares				$ 12
Reimbursable operating expenses				$ 306,498	267,942
Offering costs incurred							$ 4,618,318	$ 4,618,318
Reimbursement period				60 months
Expense payments							9,200,000
Due to related party, expenses, quarterly repayment commitment											$ 250,000
Maximum offering costs as percentage of gross proceeds from public offering				15.00%
Underwriting compensation for initial public offering as percent of gross offering proceeds				10.00%						10.00%
Expenses to advisor not reimbursable, percentage of invested assets threshold exceeded by operating expenses				2.00%
Expenses to advisor not reimbursable, percentage of net income excluding certain reductions threshold exceeded by operating expenses				25.00%
DWS Distributors
Related Party Transaction [Line Items]
Reimbursable offering costs incurred by Dealer Manager				$ 321,862	315,622
Reimbursable under the Advisory Agreement | RREEF America
Related Party Transaction [Line Items]
Due to affiliate				73,100	58,874
Organization and Offering Costs | RREEF America
Related Party Transaction [Line Items]
Reimbursable operating expenses				928,216	923,159
Expense payments							3,775,369
Private Offering | RREEF America
Related Party Transaction [Line Items]
Expense payments							195,450
Operating Expense | RREEF America
Related Party Transaction [Line Items]
Expense payments							$ 5,229,181
Related Party Note | RREEF America
Related Party Transaction [Line Items]
Due to related party, expenses, quarterly repayment commitment		$ 250,000
Due to related parties	8,950,000											$ 9,200,000
Note payable, related party, discount, amount												$ 1,861,880
Amortization of discount on note to affiliate		$ 91,726		145,135	142,355	$ 91,726
Related party transaction, month reimbursement payment, next twelve months	416,667
Related party transaction, month reimbursement payment, year two	$ 329,166
Reimbursable under Dealer Manager Agreement | DWS Distributors
Related Party Transaction [Line Items]
Due to affiliate				329,382	315,622
Payable to related party				$ 329,382	$ 315,622
Measurement Input, Discount Rate
Related Party Transaction [Line Items]
Fair value input, discount rate	0.0193
Measurement Input, Discount Rate | Related Party Note | RREEF America
Related Party Transaction [Line Items]
Fair value input, discount rate												0.050

RELATED PARTY ARRANGEMENTS - Fe

RELATED PARTY ARRANGEMENTS - Fees Earned by RREEF America (Details) - RREEF America - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Fixed component	$ 1,267,755	$ 1,050,573	$ 900,726
Performance component	573,875	672,900	274,905
Related party fees	$ 1,841,630	$ 1,723,473	$ 1,175,631

RELATED PARTY ARRANGEMENTS - De

RELATED PARTY ARRANGEMENTS - Deferred O&O Payable (Details) - RREEF America - Organization and Offering Costs - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Total Deferred O&O	$ 4,618,318	$ 4,618,318
Cumulative reimbursements made to RREEF America	(4,618,318)	(3,690,102)
Remaining Deferred O&O reimbursable to RREEF America	$ 0	$ 928,216

RELATED PARTY ARRANGEMENTS - Or

RELATED PARTY ARRANGEMENTS - Organization and Offering Costs (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Accrued trailing fees	$ 3,107,322	$ 2,238,576
IPO
Related Party Transaction [Line Items]
Deferred O&O - RREEF America	4,618,318	4,618,318
Expense Payments - O&O Portion	3,775,369	3,775,369
Other organization and offering costs	7,031,029	7,031,029
Total organization and offering costs	15,424,716	15,424,716
Accrued trailing fees	$ 770,887	$ 1,355,890

RELATED PARTY ARRANGEMENTS - Du

RELATED PARTY ARRANGEMENTS - Due to Affiliates (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Due to affiliates	$ 4,292,062	$ 4,375,191
Unamortized discount	(1,364,618)	(1,509,753)
Note to Affiliate, net of unamortized discount	7,585,382	7,440,247
Organization and Offering Costs | RREEF America
Related Party Transaction [Line Items]
Deferred O&O reimbursable to RREEF America	0	928,216
Reimbursable under the Advisory Agreement | RREEF America
Related Party Transaction [Line Items]
Due to affiliates	73,100	58,874
Reimbursable under Dealer Manager Agreement | DWS Distributors
Related Party Transaction [Line Items]
Due to affiliates	329,382	315,622
Adviory Fees | RREEF America
Related Party Transaction [Line Items]
Due to affiliates	696,384	766,624
Trailing Fee | DWS Distributors
Related Party Transaction [Line Items]
Due to affiliates	3,193,196	2,305,855
Related Party Note | RREEF America
Related Party Transaction [Line Items]
Note to Affiliate	8,950,000	8,950,000
Unamortized discount	(1,364,618)	(1,509,753)
Note to Affiliate, net of unamortized discount	$ 7,585,382	$ 7,440,247

CAPITALIZATION (Details)

CAPITALIZATION (Details) - USD ($)	Feb. 16, 2017	Feb. 15, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Feb. 01, 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
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000	50,000,000
Common stock, par value (in usd per share)	$ 0.01								$ 0.01
Preferred stock, par value (in usd per share)			$ 0.01	$ 0.01
Aggregate redemptions value limit, as a percentage of combined net asset value			5.00%
Aggregate redemptions value including carryover limit, as a percentage of combined net asset value			10.00%
Common stock redemption limit per shareholder, as a percentage of shares held			5.00%
Redemptions as a percentage of net asset value, last business day of preceding quarter			4.00%
Short term trading penalty period			365 days
Short-term trading discount as percentage of gross proceeds			2.00%
Minimum balance of common stock, threshold at which company has option to redeem shares			$ 500
Stock redeemed, amount			$ 10,570,480	$ 9,199,710	$ 10,282,451
Common Class A
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
Maximum selling commissions as percentage of purchase price	3.00%
Percentage of dealer manager fee	0.55%		0.55%
Percentage of distribution fee	0.50%		0.50%
Stock redeemed (in shares)			576,130	279,647	709,572
Stock redeemed, weighted average share price (in usd per share)			$ 13.95	$ 13.48	$ 12.93
Stock redeemed, amount			$ 8,036,195	$ 3,769,850	$ 9,170,461
Common Class I
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%		0.55%
Stock redeemed (in shares)			181,840	394,416	84,614
Stock redeemed, weighted average share price (in usd per share)			$ 13.98	$ 13.61	$ 13.15
Stock redeemed, amount			$ 2,534,285	$ 5,368,042	$ 1,111,990
Common Class T
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	250,000,000		250,000,000	250,000,000
Common stock, par value (in usd per share)			$ 0.01	$ 0.01			$ 0.01
Maximum selling commissions as percentage of purchase price	3.00%	3.00%
Percentage of dealer manager fee	2.50%	2.75%
Percentage of distribution fee	1.00%	1.00%	1.00%
Duration of distribution fee	3 years	4 years
Underwriting compensation for initial public offering as percent of gross offering proceeds	8.50%					8.50%
Stock redeemed (in shares)				4,043
Stock redeemed, weighted average share price (in usd per share)				$ 15.29
Stock redeemed, amount				$ 61,818
Common Class D
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	50,000,000		50,000,000	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
Schedule of Capitalization [Line Items]
Common stock, shares authorized (in shares)	300,000,000		300,000,000	300,000,000
Common stock, par value (in usd per share)			$ 0.01	$ 0.01			$ 0.01
RREEF America
Schedule of Capitalization [Line Items]
Underwriting compensation for initial public offering as percent of gross offering proceeds	10.00%		10.00%

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic and diluted net loss per share:
Net loss	$ (1,959,710)	$ (747,865)	$ 242,047	$ (1,263,802)	$ (813,894)	$ (988,346)	$ (555,695)	$ (383,744)	$ (690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	$ (3,729,330)	$ (2,741,679)	$ (4,346,476)
Common Class A
Basic and diluted net loss per share:
Allocation of net loss before performance fee													(1,281,920)	(978,373)	(2,084,671)
Allocation of performance fees													(207,021)	(283,358)	(115,515)
Net loss													$ (1,488,941)	$ (1,261,731)	$ (2,200,186)
Denominator - weighted average number of common shares outstanding (in shares)	3,610,639	3,777,836	3,691,785	3,686,669	3,687,513	3,677,266	3,699,115	3,650,176	3,655,393	3,634,486	3,444,743	3,306,184	3,691,760	3,678,616	3,511,189
Basic and diluted net loss per share (in usd per share)	$ (0.20)	$ (0.08)	$ 0.03	$ (0.15)	$ (0.10)	$ (0.12)	$ (0.07)	$ (0.05)	$ (0.10)	$ (0.17)	$ (0.15)	$ (0.22)	$ (0.40)	$ (0.34)	$ (0.63)
Common Class I
Basic and diluted net loss per share:
Allocation of net loss before performance fee													$ (1,765,786)	$ (1,086,451)	$ (1,984,511)
Allocation of performance fees													(352,805)	(387,354)	(158,985)
Net loss													$ (2,118,591)	$ (1,473,805)	$ (2,143,496)
Denominator - weighted average number of common shares outstanding (in shares)	5,861,271	5,202,959	4,793,077	4,467,002	4,257,000	4,240,550	4,008,144	3,827,801	3,581,521	3,408,307	3,308,240	3,067,537	5,085,231	4,084,980	3,342,490
Basic and diluted net loss per share (in usd per share)	$ (0.22)	$ (0.08)	$ 0.03	$ (0.15)	$ (0.10)	$ (0.13)	$ (0.08)	$ (0.05)	$ (0.10)	$ (0.18)	$ (0.15)	$ (0.22)	$ (0.42)	$ (0.36)	$ (0.64)
Common Class T
Basic and diluted net loss per share:
Allocation of net loss before performance fee													$ (107,749)	$ (3,955)	$ (2,389)
Allocation of performance fees													(14,049)	(2,188)	(405)
Net loss													$ (121,798)	$ (6,143)	$ (2,794)
Denominator - weighted average number of common shares outstanding (in shares)	578,181	426,209	150,764	79,305	54,264	6,982	0	1,662	4,043	4,043	4,043	2,513	310,304	14,871	4,024
Basic and diluted net loss per share (in usd per share)	$ (0.20)	$ (0.07)	$ 0.03	$ (0.15)	$ (0.10)	$ (0.10)	$ 0	$ (0.05)	$ (0.11)	$ (0.22)	$ (0.15)	$ (0.22)	$ (0.39)	$ (0.41)	$ (0.69)

DISTRIBUTIONS (Details)

DISTRIBUTIONS (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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)	$ 0.00192836	$ 0.00192261	$ 0.00190140	$ 0.00189004	$ 0.00186845	$ 0.00185445	$ 0.00183207	$ 0.00183555	$ 0.00182234	$ 0.00181182	$ 0.00177203	$ 0.00179534
Distributions paid or payable in cash	$ 980,091	$ 928,395	$ 831,391	$ 780,511	$ 771,149	$ 772,986	$ 742,522	$ 716,755	$ 699,572	$ 670,484	$ 631,394	$ 633,913	$ 3,520,388	$ 3,003,412	$ 2,635,363
Distributions reinvested	802,226	733,528	661,799	619,468	603,473	578,604	541,538	518,614	513,834	504,020	457,276	407,009	2,817,021	2,242,229	1,882,139
Distributions declared	$ 1,782,317	$ 1,661,923	$ 1,493,190	$ 1,399,979	$ 1,374,622	$ 1,351,590	$ 1,284,060	$ 1,235,369	$ 1,213,406	$ 1,174,504	$ 1,088,670	$ 1,040,922	$ 6,337,409	$ 5,245,641	$ 4,517,502
Common Class A
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	22,805	23,500	22,901	22,714	23,348	23,649	23,806	23,567	23,973	24,151	21,726	18,860	91,920	94,370	88,710
Common Class I
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	32,291	27,180	23,520	21,479	20,269	18,986	16,611	15,152	14,540	14,159	13,284	12,476	104,470	71,018	54,459
Common Class T
Class of Stock [Line Items]
Stock issued during period, dividend reinvestment plan (in shares)	1,855	1,548	976	678	399	17	0	0					5,057	416

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Percentage of distributions characterized as ordinary income	24.4049%	19.2608%	22.9152%
Percentage of distributions characterized as capital gain	0.00%	0.00%	1.5666%
Percentage of distributions characterized as nondividend	75.5951%	80.7392%	75.5182%
Total	100.00%	100.00%	100.00%
Income and similar taxes paid to certain states	$ 24,167	$ 42,198	$ 6,221

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended												12 Months Ended
	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2018USD ($)segment	Dec. 31, 2017USD ($)segment	Dec. 31, 2016USD ($)segment
Additional Disclosure [Abstract]
Number of reportable segments | segment													2	2	2
Reconciliation to total assets of December 31, 2018
Real estate properties	$ 202,256,644				$ 150,923,848								$ 202,256,644	$ 150,923,848
Investment in marketable securities	14,735,034				10,046,177								14,735,034	10,046,177
Investments	216,991,678				160,970,025								216,991,678	160,970,025
Total assets	226,199,151				169,316,332								226,199,151	169,316,332
Revenues
Rental and other property income	5,034,711	$ 4,990,915	$ 4,382,864	$ 4,503,520	4,469,387	$ 4,359,945	$ 4,314,974	$ 4,334,333	$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	16,371,676	15,130,969	$ 15,102,464
Tenant reimbursement income													2,540,334	2,347,670	1,514,772
Investment income on marketable securities	160,294	136,832	119,925	88,852	101,422	84,836	76,980	43,876	120,269	100,314	73,813	190,516	505,903	307,114	484,912
Total revenues	5,195,005	5,127,747	4,502,789	4,592,372	4,570,809	4,444,781	4,391,954	4,378,209	4,487,951	5,210,824	3,618,562	3,784,811	19,417,913	17,785,753	17,102,148
Segment operating expenses	4,983,937	4,863,184	4,203,089	4,198,626	4,393,571	4,497,226	4,054,288	3,991,176	4,229,651	6,153,150	4,297,957	4,534,041	18,248,836	16,936,261	19,214,799
Net realized (loss) gain upon sale of marketable securities	(209,547)	201,769	(155,052)	(253,480)	(92,394)	(25,389)	(6,906)	54,702	(179,450)	243,689	223,991	(94,945)	(416,310)	(69,987)	193,285
Net unrealized change in fair value of investment in marketable securities	(926,774)	(201,223)	981,763	(500,518)									(646,752)	0	0
Operating income (loss)													106,015	779,505	(1,919,366)
Reconciliation to net loss
General and administrative expenses													(1,894,649)	(1,655,410)	(2,091,416)
Advisory expenses													(1,841,630)	(1,723,473)	(1,175,631)
Acquisition related expenses													0	0	(158,762)
Depreciation													(4,504,015)	(4,338,253)	(3,826,198)
Amortization													(4,132,926)	(3,721,628)	(6,803,850)
Operating income (loss)													106,015	779,505	(1,919,366)
Interest expense	(1,034,457)	(1,012,974)	(884,364)	(903,550)	(898,738)	(910,512)	(886,455)	(825,479)	(769,188)	(541,561)	(550,654)	(565,707)	(3,835,345)	(3,521,184)	(2,427,110)
Net loss	(1,959,710)	$ (747,865)	$ 242,047	$ (1,263,802)	(813,894)	$ (988,346)	$ (555,695)	$ (383,744)	$ (690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	(3,729,330)	(2,741,679)	(4,346,476)
Real Estate Properties
Revenues
Rental and other property income													16,371,676	15,130,969	15,102,464
Tenant reimbursement income													2,540,334	2,347,670	1,514,772
Investment income on marketable securities													0	0	0
Total revenues													18,912,010	17,478,639	16,617,236
Net realized (loss) gain upon sale of marketable securities													0	0	0
Net unrealized change in fair value of investment in marketable securities													0	0	0
Real Estate Equity Securities
Revenues
Rental and other property income													0	0	0
Tenant reimbursement income													0	0	0
Investment income on marketable securities													505,903	307,114	484,912
Total revenues													505,903	307,114	484,912
Net realized (loss) gain upon sale of marketable securities													(416,310)	(69,987)	193,285
Net unrealized change in fair value of investment in marketable securities													(646,752)	0	0
Reportable segments
Reconciliation to total assets of December 31, 2018
Investments	216,991,678				160,970,025								216,991,678	160,970,025
Revenues
Segment operating expenses													5,924,568	5,535,384	5,190,760
Operating income (loss)													12,430,283	12,180,382	12,104,673
Reconciliation to net loss
Operating income (loss)													12,430,283	12,180,382	12,104,673
Reportable segments | Real Estate Properties
Reconciliation to total assets of December 31, 2018
Real estate properties	202,256,644				150,923,848								202,256,644	150,923,848
Revenues
Segment operating expenses													5,875,616	5,497,497	5,158,942
Operating income (loss)													13,036,394	11,981,142	11,458,294
Reconciliation to net loss
Operating income (loss)													13,036,394	11,981,142	11,458,294
Reportable segments | Real Estate Equity Securities
Reconciliation to total assets of December 31, 2018
Investment in marketable securities	14,735,034				10,046,177								14,735,034	10,046,177
Revenues
Segment operating expenses													48,952	37,887	31,818
Operating income (loss)													(606,111)	199,240	646,379
Reconciliation to net loss
Operating income (loss)													(606,111)	199,240	646,379
Corporate level assets
Reconciliation to total assets of December 31, 2018
Total assets	$ 9,207,473				$ 8,346,307								9,207,473	8,346,307
Segment Reconciling Items
Reconciliation to net loss
General and administrative expenses													$ (1,845,697)	$ (1,617,523)	$ (2,059,598)

QUARTERLY RESULTS (UNAUDITED)_2

QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Revenues from real estate investments	$ 5,034,711	$ 4,990,915	$ 4,382,864	$ 4,503,520	$ 4,469,387	$ 4,359,945	$ 4,314,974	$ 4,334,333	$ 4,367,682	$ 5,110,510	$ 3,544,749	$ 3,594,295	$ 16,371,676	$ 15,130,969	$ 15,102,464
Investment income on marketable securities	160,294	136,832	119,925	88,852	101,422	84,836	76,980	43,876	120,269	100,314	73,813	190,516	505,903	307,114	484,912
Total revenues	5,195,005	5,127,747	4,502,789	4,592,372	4,570,809	4,444,781	4,391,954	4,378,209	4,487,951	5,210,824	3,618,562	3,784,811	19,417,913	17,785,753	17,102,148
Operating expenses	(4,983,937)	(4,863,184)	(4,203,089)	(4,198,626)	(4,393,571)	(4,497,226)	(4,054,288)	(3,991,176)	(4,229,651)	(6,153,150)	(4,297,957)	(4,534,041)	(18,248,836)	(16,936,261)	(19,214,799)
Interest expense	(1,034,457)	(1,012,974)	(884,364)	(903,550)	(898,738)	(910,512)	(886,455)	(825,479)	(769,188)	(541,561)	(550,654)	(565,707)	(3,835,345)	(3,521,184)	(2,427,110)
Net realized gain (loss) upon sale of marketable securities	(209,547)	201,769	(155,052)	(253,480)	(92,394)	(25,389)	(6,906)	54,702	(179,450)	243,689	223,991	(94,945)	(416,310)	(69,987)	193,285
Net unrealized change in fair value of investment in marketable securities	(926,774)	(201,223)	981,763	(500,518)									(646,752)	0	0
Net loss	$ (1,959,710)	$ (747,865)	$ 242,047	$ (1,263,802)	$ (813,894)	$ (988,346)	$ (555,695)	$ (383,744)	$ (690,338)	$ (1,240,198)	$ (1,006,058)	$ (1,409,882)	(3,729,330)	(2,741,679)	(4,346,476)
Common Class A
Class of Stock [Line Items]
Net loss													$ (1,488,941)	$ (1,261,731)	$ (2,200,186)
Weighted average number of common shares outstanding (in shares)	3,610,639	3,777,836	3,691,785	3,686,669	3,687,513	3,677,266	3,699,115	3,650,176	3,655,393	3,634,486	3,444,743	3,306,184	3,691,760	3,678,616	3,511,189
Basic and diluted net loss per share (in usd per share)	$ (0.20)	$ (0.08)	$ 0.03	$ (0.15)	$ (0.10)	$ (0.12)	$ (0.07)	$ (0.05)	$ (0.10)	$ (0.17)	$ (0.15)	$ (0.22)	$ (0.40)	$ (0.34)	$ (0.63)
Common Class I
Class of Stock [Line Items]
Net loss													$ (2,118,591)	$ (1,473,805)	$ (2,143,496)
Weighted average number of common shares outstanding (in shares)	5,861,271	5,202,959	4,793,077	4,467,002	4,257,000	4,240,550	4,008,144	3,827,801	3,581,521	3,408,307	3,308,240	3,067,537	5,085,231	4,084,980	3,342,490
Basic and diluted net loss per share (in usd per share)	$ (0.22)	$ (0.08)	$ 0.03	$ (0.15)	$ (0.10)	$ (0.13)	$ (0.08)	$ (0.05)	$ (0.10)	$ (0.18)	$ (0.15)	$ (0.22)	$ (0.42)	$ (0.36)	$ (0.64)
Common Class T
Class of Stock [Line Items]
Net loss													$ (121,798)	$ (6,143)	$ (2,794)
Weighted average number of common shares outstanding (in shares)	578,181	426,209	150,764	79,305	54,264	6,982	0	1,662	4,043	4,043	4,043	2,513	310,304	14,871	4,024
Basic and diluted net loss per share (in usd per share)	$ (0.20)	$ (0.07)	$ 0.03	$ (0.15)	$ (0.10)	$ (0.10)	$ 0	$ (0.05)	$ (0.11)	$ (0.22)	$ (0.15)	$ (0.22)	$ (0.39)	$ (0.41)	$ (0.69)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares

Jan. 03, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Subsequent Event [Line Items]

Distributions declared per common share (usd per share)

$ 0.00192836

$ 0.00192261

$ 0.00190140

$ 0.00189004

$ 0.00186845

$ 0.00185445

$ 0.00183207

$ 0.00183555

$ 0.00182234

$ 0.00181182

$ 0.00177203

$ 0.00179534

Subsequent Event | Common Class A

Subsequent Event [Line Items]

Distributions declared per common share (usd per share)

$ 0.00193545

Subsequent Event | Common Class I

Subsequent Event [Line Items]

Distributions declared per common share (usd per share)

0.00193545

Subsequent Event | Common Class T

Subsequent Event [Line Items]

Distributions declared per common share (usd per share)

$ 0.00193545

SCHEDULE III Real Estate and _2

SCHEDULE III Real Estate and Accumulated Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 01, 2016	Mar. 01, 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				$ 119,069,478
Land				64,425,503
Buildings & Improvements				154,289,223
Capitalized Cost Subsequent to Acquisition				984,964
Land, Buildings & Improvements Total				219,699,690
Accumulated Depreciation	$ (24,181,800)	$ (16,430,049)	$ (7,635,728)	(32,412,680)	$ (24,181,800)
Aggregate cost of real estate for federal income tax purposes				222,700,000
Reconciliation of real estate owned:
Beginning balance	169,438,132	169,207,139	135,082,125
Acquisitions	49,636,778	0	34,000,000
Additions	624,780	230,993	125,014
Ending balance	219,699,690	169,438,132	169,207,139
Reconciliation of accumulated depreciation:
Beginning balance	24,181,800	16,430,049	7,635,728
Depreciation expense	8,230,880	7,751,751	8,794,321
Ending balance	32,412,680	$ 24,181,800	$ 16,430,049
Gross intangible lease assets				48,699,723
Below market lease, gross				18,430,925
Mortgage loans payable, net				34,055,279	27,254,431
9022 Heritage Parkway, Woodridge, IL, Office
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				7,620,364
Land				2,310,684
Buildings & Improvements				10,989,316
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				13,300,000
Accumulated Depreciation	$ (5,356,773)			(5,356,773)
Date Acquired	May 31, 2013
Reconciliation of accumulated depreciation:
Ending balance	$ 5,356,773
9022 Heritage Parkway, Woodridge, IL, Office | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
9022 Heritage Parkway, Woodridge, IL, Office | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				6,950,000
Land				3,713,306
Buildings & Improvements				9,014,642
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				12,727,948
Accumulated Depreciation	$ (1,750,384)			(1,750,384)
Date Acquired	Dec. 18, 2013
Reconciliation of accumulated depreciation:
Ending balance	$ 1,750,384
Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail) | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail) | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Commerce Corner, Logan Township, NJ, Industrial
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	$ (2,972,061)			(2,972,061)
Date Acquired	Apr. 11, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ 2,972,061
Commerce Corner, Logan Township, NJ, Industrial | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Commerce Corner, Logan Township, NJ, Industrial | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Anaheim Hills Office Plaza, Anaheim, CA, Office
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				11,114,029
Land				6,519,531
Buildings & Improvements				11,980,469
Capitalized Cost Subsequent to Acquisition				679,816
Land, Buildings & Improvements Total				19,179,816
Accumulated Depreciation	$ (4,727,277)			(4,727,277)
Date Acquired	Jul. 2, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ 4,727,277
Anaheim Hills Office Plaza, Anaheim, CA, Office | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Anaheim Hills Office Plaza, Anaheim, CA, Office | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Shops at Terra Nova Plaza, Chula Vista, CA, Retail
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				12,658,868
Land				10,628,293
Buildings & Improvements				11,221,707
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				21,850,000
Accumulated Depreciation	$ (2,446,886)			(2,446,886)
Date Acquired	Oct. 2, 2014
Reconciliation of accumulated depreciation:
Ending balance	$ 2,446,886
Shops at Terra Nova Plaza, Chula Vista, CA, Retail | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Shops at Terra Nova Plaza, Chula Vista, CA, Retail | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
The Flats at Carrs Hill, Athens, GA, University of GA Student Housing
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				290,760
Land, Buildings & Improvements Total				27,290,760
Accumulated Depreciation	$ (5,602,994)			(5,602,994)
Date Acquired	Sep. 30, 2015
Reconciliation of accumulated depreciation:
Ending balance	$ 5,602,994
The Flats at Carrs Hill, Athens, GA, University of GA Student Housing | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
The Flats at Carrs Hill, Athens, GA, University of GA Student Housing | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	27 years 6 months
Loudoun Gateway I, Sterling, VA, Office
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				11,563,942
Land				2,042,441
Buildings & Improvements				19,907,559
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				21,950,000
Accumulated Depreciation	$ (5,805,947)			(5,805,947)
Date Acquired	Dec. 21, 2015
Reconciliation of accumulated depreciation:
Ending balance	$ 5,805,947
Loudoun Gateway I, Sterling, VA, Office | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Loudoun Gateway I, Sterling, VA, Office | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
40 Allied Drive, Dedham, MA, Medical Office
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				17,613,610
Land				5,483,925
Buildings & Improvements				28,516,075
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				34,000,000
Accumulated Depreciation	$ (3,052,281)			(3,052,281)
Date Acquired	Sep. 27, 2016
Reconciliation of accumulated depreciation:
Ending balance	$ 3,052,281
40 Allied Drive, Dedham, MA, Medical Office | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
40 Allied Drive, Dedham, MA, Medical Office | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Palmetto Lakes, Miami Lakes, FL, Industrial
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				6,364,565
Land				6,054,039
Buildings & Improvements				7,005,768
Capitalized Cost Subsequent to Acquisition				11,988
Land, Buildings & Improvements Total				13,071,795
Accumulated Depreciation	$ (370,378)			(370,378)
Date Acquired	Jul. 17, 2018
Reconciliation of accumulated depreciation:
Ending balance	$ 370,378
Palmetto Lakes, Miami Lakes, FL, Industrial | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Palmetto Lakes, Miami Lakes, FL, Industrial | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Hialeah I, Miami, FL, Industrial
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				2,112,595
Land				1,641,786
Buildings & Improvements				2,749,440
Capitalized Cost Subsequent to Acquisition				2,400
Land, Buildings & Improvements Total				4,393,626
Accumulated Depreciation	$ (238,442)			(238,442)
Date Acquired	Jul. 17, 2018
Reconciliation of accumulated depreciation:
Ending balance	$ 238,442
Hialeah I, Miami, FL, Industrial | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Hialeah I, Miami, FL, Industrial | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Hialeah II, Miami, FL, Industrial
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				1,639,140
Land				1,724,518
Buildings & Improvements				1,666,059
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				3,390,577
Accumulated Depreciation	$ (88,425)			(88,425)
Date Acquired	Jul. 17, 2018
Reconciliation of accumulated depreciation:
Ending balance	$ 88,425
Hialeah II, Miami, FL, Industrial | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Hialeah II, Miami, FL, Industrial | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Elston Plaza, Chicago, IL, Retail
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance				13,932,365
Land				17,766,548
Buildings & Improvements				11,028,620
Capitalized Cost Subsequent to Acquisition				0
Land, Buildings & Improvements Total				28,795,168
Accumulated Depreciation	$ (832)			(832)
Date Acquired	Dec. 31, 2018
Reconciliation of accumulated depreciation:
Ending balance	$ 832
Elston Plaza, Chicago, IL, Retail | Minimum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	5 years
Elston Plaza, Chicago, IL, Retail | Maximum
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Lives	40 years
Revised Wells Fargo Line of Credit
Reconciliation of accumulated depreciation:
Line of credit				84,619,478
Mortgages
Reconciliation of accumulated depreciation:
Mortgage loans payable, net				34,055,279	$ 27,254,431
Mortgages | Hartford Life Insurance Company
Reconciliation of accumulated depreciation:
Mortgage loans payable, net				13,000,000		$ 13,000,000
Mortgages | Nationwide Bank
Reconciliation of accumulated depreciation:
Mortgage loans payable, net				14,500,000			$ 14,500,000
Secured Debt | Transamerica Loan
Reconciliation of accumulated depreciation:
Mortgage loans payable, net				$ 6,950,000