18. Subsequent Events

On January 7, 2020, the Company declared a dividend of $0.12 per share, or $2,654,076 in the aggregate, payable on January 27, 2020 to its shareholders of record as of January 17, 2020.

In January 2020, the Company entered into a ten-year, triple net lease with annual base rent of $67,392 on property classified as held for sale at December 31, 2019.

On February 14, 2020, the Company sold two properties of a five property portfolio classified as real estate held for sale at December 31, 2019, receiving $866,277 in net proceeds.  No loss will be recognized on such sale.

On February 26, 2020, the Company sold a property classified as real estate held for sale at December 31, 2019 receiving $223,959 in net proceeds. The Company recognized an impairment loss of $62,027 as of December 31, 2019.

On January 27, 2020, the Company filed a registration with the U.S. Securities and Exchange Commission on Form S-3 covering the offering and sale of up to $100 million of its securities, including common shares, preferred shares, debt securities, warrants, guaranties and units consisting of two or more classes of the foregoing securities.  The registration statement became effective February 5, 2020.