Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
NOTE 9. SUBSEQUENT EVENTS
 
The Company evaluates subsequent events up until the date the consolidated financial statements are issued.
 
Dividends
 
On October 7, 2016, the Company’s board of directors declared dividends based on daily record dates for the period September 1, 2016 through September 30, 2016 at a rate of $0.00194444 per share per day, or $23,942, on the outstanding shares of the Company’s common stock, which the Company paid on October 11, 2016.
 
On November 9, 2016, the Company’s board of directors declared dividends based on daily record dates for the period October 1, 2016 through October 31, 2016 at a rate of $0.00188172 per share per day, or $49,273, on the outstanding shares of the Company’s common stock, which the Company paid on November 10, 2016.
 
Offering Status
 
Through November 10, 2016, the Company had sold 1,318,551 shares of common stock in the Offering, for aggregate gross offering proceeds of $13,185,513, including 6,305 shares of common stock sold under its distribution reinvestment plan for aggregate gross offering proceeds of $63,055.
 
Acquisitions
 
On November 4, 2016, the Company acquired a portfolio of six retail properties (“Dollar General Portfolio”), totaling 53,323 square feet, located in Maine, Pennsylvania, and Ohio. The seller is not affiliated with the Company or the Advisor. The aggregate purchase price for the Dollar General Portfolio was $7,713,600 plus closing costs. The Company is in process of assessing the fair value of the acquired tangible assets and any applicable intangible assets and liabilities for this business combination.
 
Investments
 
In October 2016, the Company acquired an additional investment of 175,261 shares in Rich Uncles REIT I for $1,752,609. As of November 11, 2016, the Company’s investment represents approximately 4.57% ownership interest in Rich Uncles REIT I.
 
Redeemable common stock
 
Through November 10, 2016, the Company redeemed 4,091 shares for $39,682.