Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 12, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000928953 | |
Entity Registrant Name | PILLARSTONE CAPITAL REIT | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-15409 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 39-6594066 | |
Entity Address, Address Line One | 2600 South Gessner, Suite 555 | |
Entity Address, City or Town | Houston | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77063 | |
City Area Code | 832 | |
Local Phone Number | 810-0100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 657,084 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current period unaudited) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Property | $ 57,401,000 | $ 57,027,000 |
Accumulated depreciation | (9,318,000) | (8,754,000) |
Total real estate assets | 48,083,000 | 48,273,000 |
Cash and cash equivalents | 4,796,000 | 5,206,000 |
Escrows and utility deposits | 1,692,000 | 1,243,000 |
Accrued rents and accounts receivable, net of allowance for doubtful accounts | 1,268,000 | 1,260,000 |
Receivable due from related party | 1,404,000 | 1,011,000 |
Unamortized lease commissions and deferred legal cost, net | 402,000 | 464,000 |
Prepaid expenses and other assets | 257,000 | 126,000 |
Total assets | 57,902,000 | 57,583,000 |
Liabilities: | ||
Notes payable | 14,927,000 | 14,920,000 |
Accounts payable and accrued expenses | 1,489,000 | 1,691,000 |
Payable due to related party | 1,175,000 | 846,000 |
Convertible notes payable - related parties | 197,780 | 198,000 |
Accrued interest payable | 194,000 | 185,000 |
Tenants' security deposits | 802,000 | 827,000 |
Total liabilities | 18,785,000 | 18,667,000 |
Commitments and contingencies: | 0 | 0 |
Shareholders' Equity: | ||
Common Shares - $0.01 par value, 400,000,000 authorized: 695,214 shares issued and 657,084 outstanding at June 30, 2022 and December 31, 2021 | 7,000 | 7,000 |
Additional paid-in capital | 28,493,000 | 28,493,000 |
Accumulated deficit | (23,974,000) | (23,882,000) |
Treasury stock, at cost, 38,130 shares | (801,000) | (801,000) |
Total Pillarstone Capital REIT shareholders' equity | 3,730,000 | 3,822,000 |
Noncontrolling interest in subsidiary | 35,387,000 | 35,094,000 |
Total equity | 39,117,000 | 38,916,000 |
Total liabilities and equity | 57,902,000 | 57,583,000 |
Real estate assets, at cost | ||
Property | 57,401,000 | 57,027,000 |
Accumulated depreciation | (9,318,000) | (8,754,000) |
Total real estate assets | 48,083,000 | 48,273,000 |
Cash and cash equivalents | 4,796,000 | 5,206,000 |
Escrows and utility deposits | 1,692,000 | 1,243,000 |
Accrued rents and accounts receivable, net of allowance for doubtful accounts | 1,268,000 | 1,260,000 |
Receivable due from related party | 1,404,000 | 1,011,000 |
Unamortized lease commissions and deferred legal cost, net | 402,000 | 464,000 |
Prepaid expenses and other assets | 257,000 | 126,000 |
Total assets | 57,902,000 | 57,583,000 |
Accounts payable and accrued expenses | 1,489,000 | 1,691,000 |
Accrued interest payable | 194,000 | 185,000 |
Tenants' security deposits | 802,000 | 827,000 |
Total liabilities | 18,785,000 | 18,667,000 |
Series A Preferred Stock [Member] | ||
Shareholders' Equity: | ||
Preferred stock | 3,000 | 3,000 |
Series C Preferred Stock [Member] | ||
Shareholders' Equity: | ||
Preferred stock | 2,000 | 2,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Property | 57,388,000 | 57,023,000 |
Accumulated depreciation | (9,315,000) | (8,751,000) |
Total real estate assets | 48,073,000 | 48,272,000 |
Cash and cash equivalents | 4,645,000 | 4,900,000 |
Escrows and utility deposits | 1,692,000 | 1,243,000 |
Accrued rents and accounts receivable, net of allowance for doubtful accounts | 1,113,000 | 1,104,000 |
Receivable due from related party | 1,404,000 | 1,011,000 |
Unamortized lease commissions and deferred legal cost, net | 402,000 | 464,000 |
Prepaid expenses and other assets | 213,000 | 33,000 |
Total assets | 57,542,000 | 57,027,000 |
Liabilities: | ||
Accounts payable and accrued expenses | 1,238,000 | 1,483,000 |
Accrued interest payable | 64,000 | 64,000 |
Tenants' security deposits | 802,000 | 827,000 |
Total liabilities | 18,184,000 | 18,121,000 |
Real estate assets, at cost | ||
Property | 57,388,000 | 57,023,000 |
Accumulated depreciation | (9,315,000) | (8,751,000) |
Total real estate assets | 48,073,000 | 48,272,000 |
Cash and cash equivalents | 4,645,000 | 4,900,000 |
Escrows and utility deposits | 1,692,000 | 1,243,000 |
Accrued rents and accounts receivable, net of allowance for doubtful accounts | 1,113,000 | 1,104,000 |
Receivable due from related party | 1,404,000 | 1,011,000 |
Unamortized lease commissions and deferred legal cost, net | 402,000 | 464,000 |
Prepaid expenses and other assets | 213,000 | 33,000 |
Total assets | 57,542,000 | 57,027,000 |
Notes payable | 14,927,000 | 14,920,000 |
Accounts payable and accrued expenses | 1,238,000 | 1,483,000 |
Payable due to related party | 1,153,000 | 827,000 |
Accrued interest payable | 64,000 | 64,000 |
Tenants' security deposits | 802,000 | 827,000 |
Total liabilities | $ 18,184,000 | $ 18,121,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current period unaudited) (Parentheticals) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 695,214 | 695,214 |
Common stock, shares outstanding (in shares) | 657,084 | 657,084 |
Treasury stock, shares (in shares) | 38,130 | 38,130 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,518,000 | 1,518,000 |
Preferred stock, shares issued (in shares) | 256,636 | 256,636 |
Preferred stock, shares outstanding (in shares) | 256,636 | 256,636 |
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ 10 | $ 10 |
Series C Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 300,000 | 300,000 |
Preferred stock, shares issued (in shares) | 231,944 | 231,944 |
Preferred stock, shares outstanding (in shares) | 231,944 | 231,944 |
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ 10 | $ 10 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Rental (1) | $ 2,261,000 | $ 2,259,000 | $ 4,571,000 | $ 4,439,000 |
Transaction and other fees | 17,000 | 13,000 | 33,000 | 23,000 |
Total revenues | 2,278,000 | 2,272,000 | 4,604,000 | 4,462,000 |
Depreciation and amortization | 506,000 | 502,000 | 990,000 | 999,000 |
Operating and maintenance | 852,000 | 736,000 | 1,623,000 | 1,454,000 |
Real estate taxes | 413,000 | 393,000 | 741,000 | 802,000 |
General and administrative | 185,000 | 176,000 | 372,000 | 383,000 |
Management fees | 143,000 | 145,000 | 283,000 | 284,000 |
Total operating expenses | 2,099,000 | 1,952,000 | 4,009,000 | 3,922,000 |
Interest expense, net | 202,000 | 204,000 | 399,000 | 407,000 |
Other income | 0 | (24,000) | 0 | (24,000) |
Total other expenses | 202,000 | 180,000 | 399,000 | 383,000 |
Income (loss) before income taxes | (23,000) | 140,000 | 196,000 | 157,000 |
Provision for income tax benefit | 12,000 | 5,000 | 5,000 | 12,000 |
Net income (loss) | (11,000) | 145,000 | 201,000 | 169,000 |
Less: Noncontrolling interest in subsidiary | (64,000) | (205,000) | (293,000) | (314,000) |
Net loss attributable to Common Shareholders | $ (75,000) | $ (60,000) | $ (92,000) | $ (145,000) |
Basic loss per Common Share: | ||||
Net loss available to Common Shareholders (in dollars per share) | $ (0.11) | $ (0.10) | $ (0.14) | $ (0.24) |
Diluted loss per Common Share: | ||||
Net loss available to Common Shareholders (in dollars per share) | $ (0.11) | $ (0.10) | $ (0.14) | $ (0.24) |
Weighted average number of Common Shares outstanding: | ||||
Basic: (in shares) | 657,084 | 595,000 | 657,084 | 595,000 |
Diluted: (in shares) | 657,084 | 595,000 | 657,084 | 595,000 |
Rental revenues | $ 1,987,000 | $ 2,037,000 | $ 4,005,000 | $ 4,079,000 |
Recoveries | 298,000 | 211,000 | 605,000 | 389,000 |
Bad debt | (24,000) | 11,000 | (39,000) | (29,000) |
Total rental | $ 2,261,000 | $ 2,259,000 | $ 4,571,000 | $ 4,439,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Equity (Deficit) (Unaudited) - USD ($) $ in Thousands | Preferred Stock [Member] Series A Preferred Stock [Member] | Preferred Stock [Member] Series C Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance at Dec. 31, 2020 | $ 3 | $ 2 | $ 6 | $ 28,494 | $ (23,623) | $ (801) | $ 4,081 | $ 34,361 | $ 38,442 |
Net income (loss) | 0 | 0 | 0 | 0 | (85) | 0 | (85) | 109 | 24 |
Share-based compensation | 0 | 0 | 0 | 15 | 0 | 0 | 15 | 0 | 15 |
Balance at Mar. 31, 2021 | 3 | 2 | 6 | 28,509 | (23,708) | (801) | 4,011 | 34,470 | 38,481 |
Balance at Dec. 31, 2020 | 3 | 2 | 6 | 28,494 | (23,623) | (801) | 4,081 | 34,361 | 38,442 |
Net income (loss) | 169 | ||||||||
Net income (loss) | 314 | ||||||||
Balance at Jun. 30, 2021 | 3 | 2 | 6 | 28,511 | (23,768) | (801) | 3,953 | 34,675 | 38,628 |
Balance at Mar. 31, 2021 | 3 | 2 | 6 | 28,509 | (23,708) | (801) | 4,011 | 34,470 | 38,481 |
Net income (loss) | 0 | 0 | 0 | 0 | (60) | 0 | (60) | 145 | |
Net income (loss) | 205 | 205 | |||||||
Share-based compensation | 0 | 0 | 0 | 2 | 0 | 0 | 2 | 0 | 2 |
Balance at Jun. 30, 2021 | 3 | 2 | 6 | 28,511 | (23,768) | (801) | 3,953 | 34,675 | 38,628 |
Balance at Dec. 31, 2021 | 3 | 2 | 7 | 28,493 | (23,882) | (801) | 3,822 | 35,094 | 38,916 |
Net income (loss) | 0 | 0 | 0 | 0 | (17) | 0 | (17) | 229 | 212 |
Balance at Mar. 31, 2022 | 3 | 2 | 7 | 28,493 | (23,899) | (801) | 3,805 | 35,323 | 39,128 |
Balance at Dec. 31, 2021 | 3 | 2 | 7 | 28,493 | (23,882) | (801) | 3,822 | 35,094 | 38,916 |
Net income (loss) | 201 | ||||||||
Net income (loss) | 293 | ||||||||
Balance at Jun. 30, 2022 | 3 | 2 | 7 | 28,493 | (23,974) | (801) | 3,730 | 35,387 | 39,117 |
Balance at Mar. 31, 2022 | 3 | 2 | 7 | 28,493 | (23,899) | (801) | 3,805 | 35,323 | 39,128 |
Net income (loss) | 0 | 0 | 0 | 0 | (75) | 0 | (75) | (11) | |
Net income (loss) | 64 | 64 | |||||||
Balance at Jun. 30, 2022 | $ 3 | $ 2 | $ 7 | $ 28,493 | $ (23,974) | $ (801) | $ 3,730 | $ 35,387 | $ 39,117 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 201 | $ 169 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization | 990 | 999 |
Amortization of deferred loan costs | 14 | 14 |
Bad debt | 39 | 29 |
Share-based compensation | 0 | 17 |
Changes in operating assets and liabilities: | ||
Accrued rents and accounts receivable | (47) | 85 |
Receivable due from related party | (393) | (355) |
Escrows and utility deposits | (449) | 130 |
Unamortized lease commissions and deferred legal cost | (37) | (88) |
Prepaid expenses and other assets | 179 | (105) |
Accounts payable and accrued expenses | (193) | (914) |
Payable due to related party | 329 | 311 |
Tenants' security deposits | (25) | 7 |
Net cash provided by operating activities | 608 | 299 |
Cash flows from investing activities: | ||
Additions to real estate | (700) | (504) |
Net cash used in investing activities | (700) | (504) |
Cash flows from financing activities: | ||
Repayments of notes payable | (318) | (146) |
Net cash used in financing activities | (318) | (146) |
Net change in cash and cash equivalents | (410) | (351) |
Cash and cash equivalents at beginning of period | 5,206 | 5,109 |
Cash and cash equivalents at end of period | 4,796 | 4,758 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 388 | 396 |
Cash paid for taxes | 44 | 51 |
Non cash investing activities: | ||
Disposal of fully depreciated real estate | 326 | 137 |
Financed insurance premium | $ 311 | $ 0 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Basis of Accounting. Use of estimates. June 30, 2022 December 31, 2021 three six June 30, 2022 2021 Cash and cash equivalents. three June 30, 2022 December 31, 2021 Acquired Properties and Acquired Lease Intangibles. may Depreciation. Impairment. may not June 30, 2022 Accrued Rents and Accounts Receivable. 19 not June 30, 2022 December 31, 2021 three six June 30, 2022 For the three June 30, 2022, 19 six June 30, 2022 two 19 three six June 30, 2021 Included in our adjustments to rental revenue for the three six June 30, 2021 three 19 Unamortized Lease Commissions and Deferred Legal Cost. Prepaid expenses and Other assets Noncontrolling Interests. not Revenue recognition ases. For three June 30, 2022, not six June 30, 2022, one 19 three six June 30, 2021 one 19 Rental Stock-based compensation No. 718, "Compensation - Stock Compensation," may No.718 Income taxes not not The Company evaluates potential uncertain tax positions on an annual basis in conjunction with the board of trustees and its tax accountants. Authoritative literature provides a two first not second As of June 30, 2022 June 30, 2022 December 31, 2021 Concentration of Risk. no Recent accounting pronouncements April 2020, 842, 19 19 842 not 19, not not 842 19 842 not 842. |
Note 2 - Accrued Rents and Acco
Note 2 - Accrued Rents and Accounts Receivable, Net | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 2. Accrued rents and accounts receivable, net consists of amounts accrued, billed and due from tenants, allowance for doubtful accounts and other receivables as follows (in thousands): June 30, 2022 December 31, 2021 Tenant receivables $ 815 $ 733 Accrued rents and other recoveries 1,030 1,065 Allowance for doubtful accounts (577 ) (538 ) Total $ 1,268 $ 1,260 |
Note 3 - Leases
Note 3 - Leases | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 3. As a Lessor. Rental A summary of minimum future rents to be received (exclusive of renewals, tenant reimbursements, contingent rents, and collectability adjustments under Topic 842 June 30, 2022 Years Ended December 31, Minimum Future Rents (1) 2022 (remaining) $ 3,559 2023 5,276 2024 3,186 2025 1,558 2026 917 Thereafter 299 Total $ 14,795 ( 1 not not As a Lessee. June 8, 2021, 2600 555 77063. 678 three six June 30, 2022 three six June 30, 2021 |
Note 4 - Unamortized Lease Comm
Note 4 - Unamortized Lease Commissions and Deferred Legal Cost, Net | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Unamortized Lease Commissions and Loan Costs [Text Block] | 4. Costs which have been deferred consist of the following (in thousands): June 30, 2022 December 31, 2021 Leasing commissions $ 1,349 $ 1,364 Deferred legal cost 12 12 Total cost 1,361 1,376 Less: leasing commissions accumulated amortization (947 ) (901 ) Less: deferred legal cost accumulated amortization (12 ) (11 ) Total cost, net of accumulated amortization $ 402 $ 464 |
Note 5 - Variable Interest Enti
Note 5 - Variable Interest Entity | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 5. On December 8, 2016, four 2, 14 1 2 In connection with the Contribution Agreement, on December 8, 2016, no may not The Amended and Restated Agreement of Limited Partnership designates two not may one one one one The carrying amounts and classification of certain assets and liabilities for Pillarstone OP in our condensed consolidated balance sheets as of June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 (unaudited) Real estate assets, at cost Property $ 57,388 $ 57,023 Accumulated depreciation (9,315 ) (8,751 ) Total real estate assets 48,073 48,272 Cash and cash equivalents 4,645 4,900 Escrows and utility deposits 1,692 1,243 Accrued rents and accounts receivable, net of allowance for doubtful accounts 1,113 1,104 Receivable due from related party (1) 1,404 1,011 Unamortized lease commissions and deferred legal cost, net 402 464 Prepaid expenses and other assets 213 33 Total assets $ 57,542 $ 57,027 Liabilities Notes payable $ 14,927 $ 14,920 Accounts payable and accrued expenses 1,238 1,483 Payable due to related party 1,153 827 Accrued interest payable 64 64 Tenants' security deposits 802 827 Total liabilities $ 18,184 $ 18,121 ( 1 Excludes approximately $0.03 million in accounts receivable due from Pillarstone that was eliminated in consolidation as of June 30, 2022 December 31, 2021 |
Note 6 - Real Estate
Note 6 - Real Estate | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | 6. As of June 30, 2022 |
Note 7 - Debt
Note 7 - Debt | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 7. Mortgages and other notes payable consist of the following (in thousands): Description June 30, 2022 December 31, 2021 Fixed rate notes $16.5 million 4.97% Note, due September 26, 2023 $ 14,814 $ 14,968 $0.3 million 3.15% Note, due December 28, 2022 147 — Total notes payable principal 14,961 14,968 Less deferred financing costs, net of accumulated amortization (34 ) (48 ) Total notes payable $ 14,927 $ 14,920 Our mortgage debt was collateralized by one operating property as of June 30, 2022 December 31, 2021 June 30, 2022 June 30, 2022 Scheduled maturities of notes payable as of June 30, 2022 Year Amount Due 2022 (remaining) $ 302 2023 14,659 Total $ 14,961 |
Note 8 - Convertible Notes Paya
Note 8 - Convertible Notes Payable - Related Parties | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure, Related Party [Text Block] | 8. On November 20, 2015, November 20, 2018. 2019, November 20, 2021. 2021, November 30, 2022. $1.331 June 30, 2022 December 31, 2021 |
Note 9 - Earnings (Loss) Per Sh
Note 9 - Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 9. The Company applies the guidance of ASC 260, "Earnings Per Share," three six June 30, 2022 2021 For the three six June 30, 2022 2021 not During the three six June 30, 2022 2021 8. not three six June 30, 2022 2021 three six June 30, 2022 2021, 2016 11 not Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2022 2021 2022 2021 Numerator: Net loss attributable to common shareholders $ (75 ) $ (60 ) $ (92 ) $ (145 ) Denominator: Weighted average number of common shares - basic 657,084 595,000 657,084 595,000 Weighted average number of common shares - dilutive 657,084 595,000 657,084 595,000 Loss Per Share: Basic loss per common share: Net loss available to common shareholders $ (0.11 ) $ (0.10 ) $ (0.14 ) $ (0.24 ) Diluted loss per common share: Net loss available to common shareholders $ (0.11 ) $ (0.10 ) $ (0.14 ) $ (0.24 ) |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 10. On December 8, 2016, Pursuant to the Contribution Agreement, the Company agreed to file with the Securities and Exchange Commission (the "SEC") on or prior to June 8, 2018, 1933, may not During the ordinary course of business, we have transactions with Whitestone that include, but are not In connection with the Contribution Agreement, on December 8, 2016, 1 2 1 2 0.125% July 19, 2022, 12 The following table presents the revenue and expenses with Whitestone included in our condensed consolidated statement of operations for the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, Location of Revenue (Expense) 2022 2021 2022 2021 Rent Rental $ 174 $ 226 $ 366 $ 451 Property management fees Management fees (99 ) (100 ) (194 ) (194 ) Asset management fees Management fees (45 ) (45 ) (90 ) (90 ) Rent expense Office expenses (6 ) (10 ) (11 ) (18 ) Receivables due from and payables due to related parties consisted of the following as of June 30, 2022 December 31, 2021 Location of Receivable (Payable) June 30, 2022 December 31, 2021 Tenant receivables and other receivables Receivable due from related party $ 1,404 $ 1,011 Accrued interest due to related party Accrued interest payable (131 ) (121 ) Other payables due to related party Payable due to related party (1,175 ) (846 ) |
Note 11 - Incentive Equity Plan
Note 11 - Incentive Equity Plan | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 11. At the 2016 2016 "2016 The 2016 may may 2016 may 2016 2016 may 2016 The Management, Organization and Compensation Committee (the “Committee”) administers the 2016 2016 2016 2016 may 2016 2016 As of the six June 30, 2022 Description Shares Available for grant at June 30, 2022 2,086,655 For the three six June 30, 2022, not three six June 30, 2021, three six June 30, 2021, not |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 12. During the first 2022, December 8, 2016, 2017 2021. April 2022, $1,819,729 $1,819,729 first 2022 After Pillarstone notified Whitestone of the $1,819,729 expense reimbursement required from Pillarstone OP, Whitestone and Whitestone OP made a claim to Pillarstone and Pillarstone OP to be reimbursed for construction and lease commission expenditures of $1,425,972 paid by Whitestone OP on behalf of Pillarstone OP during 2017 2018. December 8, 2016 2017 2018 not In April 2022, first 2022. May 2022. $176,593 $117,186 $176,593 $59,407 first 2022 In July 2022, second 2022 second 2022 third 2022 On July 12, 2022, December 27, 2021 ( may July 21, 2022, On July 19, 2022, x x not not 30 July 19, 2022. On July 21, 2022, five six 2025. 2003, 2003, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Accounting. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates. June 30, 2022 December 31, 2021 three six June 30, 2022 2021 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents. three June 30, 2022 December 31, 2021 |
Business Combinations Policy [Policy Text Block] | Acquired Properties and Acquired Lease Intangibles. may |
Depreciation, Depletion, and Amortization [Policy Text Block] | Depreciation. |
Property, Plant and Equipment, Impairment [Policy Text Block] | Impairment. may not June 30, 2022 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accrued Rents and Accounts Receivable. 19 not June 30, 2022 December 31, 2021 three six June 30, 2022 For the three June 30, 2022, 19 six June 30, 2022 two 19 three six June 30, 2021 Included in our adjustments to rental revenue for the three six June 30, 2021 three 19 |
Unamortized Lease Commissions and Loan Costs Policy [Policy Text Block] | Unamortized Lease Commissions and Deferred Legal Cost. |
Prepaids and Other Assets [Policy Text Block] | Prepaid expenses and Other assets |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Noncontrolling Interests. not |
Revenue from Contract with Customer [Policy Text Block] | Revenue recognition ases. For three June 30, 2022, not six June 30, 2022, one 19 three six June 30, 2021 one 19 Rental |
Share-Based Payment Arrangement [Policy Text Block] | Stock-based compensation No. 718, "Compensation - Stock Compensation," may No.718 |
Income Tax, Policy [Policy Text Block] | Income taxes not not The Company evaluates potential uncertain tax positions on an annual basis in conjunction with the board of trustees and its tax accountants. Authoritative literature provides a two first not second As of June 30, 2022 June 30, 2022 December 31, 2021 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Risk. no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements April 2020, 842, 19 19 842 not 19, not not 842 19 842 not 842. |
Note 2 - Accrued Rents and Ac_2
Note 2 - Accrued Rents and Accounts Receivable, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2022 December 31, 2021 Tenant receivables $ 815 $ 733 Accrued rents and other recoveries 1,030 1,065 Allowance for doubtful accounts (577 ) (538 ) Total $ 1,268 $ 1,260 |
Note 3 - Leases (Tables)
Note 3 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block] | Years Ended December 31, Minimum Future Rents (1) 2022 (remaining) $ 3,559 2023 5,276 2024 3,186 2025 1,558 2026 917 Thereafter 299 Total $ 14,795 |
Note 4 - Unamortized Lease Co_2
Note 4 - Unamortized Lease Commissions and Deferred Legal Cost, Net (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | June 30, 2022 December 31, 2021 Leasing commissions $ 1,349 $ 1,364 Deferred legal cost 12 12 Total cost 1,361 1,376 Less: leasing commissions accumulated amortization (947 ) (901 ) Less: deferred legal cost accumulated amortization (12 ) (11 ) Total cost, net of accumulated amortization $ 402 $ 464 |
Note 5 - Variable Interest En_2
Note 5 - Variable Interest Entity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | June 30, 2022 December 31, 2021 (unaudited) Real estate assets, at cost Property $ 57,388 $ 57,023 Accumulated depreciation (9,315 ) (8,751 ) Total real estate assets 48,073 48,272 Cash and cash equivalents 4,645 4,900 Escrows and utility deposits 1,692 1,243 Accrued rents and accounts receivable, net of allowance for doubtful accounts 1,113 1,104 Receivable due from related party (1) 1,404 1,011 Unamortized lease commissions and deferred legal cost, net 402 464 Prepaid expenses and other assets 213 33 Total assets $ 57,542 $ 57,027 Liabilities Notes payable $ 14,927 $ 14,920 Accounts payable and accrued expenses 1,238 1,483 Payable due to related party 1,153 827 Accrued interest payable 64 64 Tenants' security deposits 802 827 Total liabilities $ 18,184 $ 18,121 |
Note 7 - Debt (Tables)
Note 7 - Debt (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Description June 30, 2022 December 31, 2021 Fixed rate notes $16.5 million 4.97% Note, due September 26, 2023 $ 14,814 $ 14,968 $0.3 million 3.15% Note, due December 28, 2022 147 — Total notes payable principal 14,961 14,968 Less deferred financing costs, net of accumulated amortization (34 ) (48 ) Total notes payable $ 14,927 $ 14,920 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Year Amount Due 2022 (remaining) $ 302 2023 14,659 Total $ 14,961 |
Note 9 - Earnings (Loss) Per _2
Note 9 - Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2022 2021 2022 2021 Numerator: Net loss attributable to common shareholders $ (75 ) $ (60 ) $ (92 ) $ (145 ) Denominator: Weighted average number of common shares - basic 657,084 595,000 657,084 595,000 Weighted average number of common shares - dilutive 657,084 595,000 657,084 595,000 Loss Per Share: Basic loss per common share: Net loss available to common shareholders $ (0.11 ) $ (0.10 ) $ (0.14 ) $ (0.24 ) Diluted loss per common share: Net loss available to common shareholders $ (0.11 ) $ (0.10 ) $ (0.14 ) $ (0.24 ) |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, Location of Revenue (Expense) 2022 2021 2022 2021 Rent Rental $ 174 $ 226 $ 366 $ 451 Property management fees Management fees (99 ) (100 ) (194 ) (194 ) Asset management fees Management fees (45 ) (45 ) (90 ) (90 ) Rent expense Office expenses (6 ) (10 ) (11 ) (18 ) Location of Receivable (Payable) June 30, 2022 December 31, 2021 Tenant receivables and other receivables Receivable due from related party $ 1,404 $ 1,011 Accrued interest due to related party Accrued interest payable (131 ) (121 ) Other payables due to related party Payable due to related party (1,175 ) (846 ) |
Note 11 - Incentive Equity Pl_2
Note 11 - Incentive Equity Plan (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Description Shares Available for grant at June 30, 2022 2,086,655 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Pronouncements (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Impairment of Real Estate | $ 0 | ||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 577,000 | 577,000 | $ 538,000 | ||
Operating Lease, Lease Income Bad Debt Expense | 24,000 | $ (11,000) | 39,000 | $ 29,000 | |
Operating Lease, Lease Income, Bad Debt Expense, COVID 19 | 0 | 10,913 | 40,000 | 51,174 | |
Straight Line Rent Adjustments | 0 | $ 1,000 | $ 1,000 | $ 1,000 | |
Uncertain Tax Position to Be Recognized Based on Maximum Cumulative Probability Percentage | 50% | ||||
Operating Loss Carryforwards | 139,000 | $ 139,000 | |||
Deferred Tax Liabilities, Net, Total | $ 11,000 | $ 11,000 | $ 36,000 | ||
Minimum [Member] | Building and Building Improvements [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||||
Maximum [Member] | Building and Building Improvements [Member] | |||||
Property, Plant and Equipment, Useful Life (Year) | 39 years |
Note 2 - Accrued Rents and Ac_3
Note 2 - Accrued Rents and Accounts Receivable, Net - Schedule of Accrued Rents and Accounts Receivable, Net (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Tenant receivables | $ 815,000 | $ 733,000 |
Accrued rents and other recoveries | 1,030,000 | 1,065,000 |
Allowance for doubtful accounts | (577,000) | (538,000) |
Total | $ 1,268,000 | $ 1,260,000 |
Note 3 - Leases (Details Textua
Note 3 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
2600 S. Gessner Road, Suite 555 Houston, Texas 77063 [Member] | ||||
Operating Lease, Cost | $ 5,670 | $ 10,051 | $ 11,340 | $ 17,611 |
Note 3 - Leases - Schedule of M
Note 3 - Leases - Schedule of Minimum Future Rent Payments (Details) $ in Thousands | Jun. 30, 2022 USD ($) | |
2022 (remaining) | $ 3,559 | [1] |
2023 | 5,276 | [1] |
2024 | 3,186 | [1] |
2025 | 1,558 | [1] |
2026 | 917 | |
Thereafter | 299 | [1] |
Total | $ 14,795 | [1] |
[1]These amounts do not reflect future rental revenues from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed. |
Note 4 - Unamortized Lease Co_3
Note 4 - Unamortized Lease Commissions and Deferred Legal Cost, Net - Tabular Disclosure of Unamortized Lease Commissions (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Leasing commissions | $ 1,349 | $ 1,364 |
Deferred legal cost | 12 | 12 |
Total cost | 1,361 | 1,376 |
Less: leasing commissions accumulated amortization | (947) | (901) |
Less: deferred legal cost accumulated amortization | (12) | (11) |
Total cost, net of accumulated amortization | $ 402 | $ 464 |
Note 5 - Variable Interest En_3
Note 5 - Variable Interest Entity (Details Textual) | Jun. 30, 2022 USD ($) yr | Dec. 31, 2021 USD ($) | Dec. 08, 2016 USD ($) $ / shares |
Number of Wholly Owned Subsidiaries Contributed to Variable Interest Entity | 4 | ||
Pillarstone Capital REIT Operating Partnership LLP [Member] | |||
Conversion Ratio LTIP Units to OP Units (Year) | yr | 1 | ||
Conversion Ratio OP Units to Common Shares | 1 | ||
Whitestone [Member] | Pillarstone Capital REIT Operating Partnership LLP [Member] | |||
Equity Method Investment, Ownership Percentage | 18.60% | ||
Equity Method Investments | $ 4,100,000 | ||
Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Accounts Receivable, Related Parties, Current | $ 30,000 | $ 30,000 | |
Variable Interest Entity, Not Primary Beneficiary [Member] | Whitestone [Member] | |||
Variable Interest Entity Consideration Amount | 84,000,000 | ||
Variable Interest, Entity Consideration, Limited Partnership Interest | $ 18,100,000 | ||
Variable Interest Entity, Consideration, Limited Partnership Interest Unit Price (in dollars per share) | $ / shares | $ 1.331 | ||
Variable Interest, Entity Liabilities Assumed | $ 65,900,000 |
Note 5 - Variable Interest En_4
Note 5 - Variable Interest Entity - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Real Estate Investment Property, at Cost, Total | $ 57,401 | $ 57,027 | |
Accumulated depreciation | (9,318) | (8,754) | |
Total real estate assets | 48,083 | 48,273 | |
Cash and cash equivalents | 4,796 | 5,206 | |
Escrows and utility deposits | 1,692 | 1,243 | |
Accrued rents and accounts receivable, net of allowance for doubtful accounts | 1,268 | 1,260 | |
Receivable due from related party (1) | 1,404 | 1,011 | |
Unamortized lease commissions and deferred legal cost, net | 402 | 464 | |
Prepaid expenses and other assets | 257 | 126 | |
Total assets | 57,902 | 57,583 | |
Accounts payable and accrued expenses | 1,489 | 1,691 | |
Accrued interest payable | 194 | 185 | |
Tenants' security deposits | 802 | 827 | |
Total liabilities | 18,785 | 18,667 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Real Estate Investment Property, at Cost, Total | 57,388 | 57,023 | |
Accumulated depreciation | (9,315) | (8,751) | |
Total real estate assets | 48,073 | 48,272 | |
Cash and cash equivalents | 4,645 | 4,900 | |
Escrows and utility deposits | 1,692 | 1,243 | |
Accrued rents and accounts receivable, net of allowance for doubtful accounts | 1,113 | 1,104 | |
Receivable due from related party (1) | [1] | 1,404 | 1,011 |
Unamortized lease commissions and deferred legal cost, net | 402 | 464 | |
Prepaid expenses and other assets | 213 | 33 | |
Total assets | 57,542 | 57,027 | |
Notes payable | 14,927 | 14,920 | |
Accounts payable and accrued expenses | 1,238 | 1,483 | |
Payable due to related party | 1,153 | 827 | |
Accrued interest payable | 64 | 64 | |
Tenants' security deposits | 802 | 827 | |
Total liabilities | $ 18,184 | $ 18,121 | |
[1]Excludes approximately $0.03 million in accounts receivable due from Pillarstone that was eliminated in consolidation as of June 30, 2022 and December 31, 2021. |
Note 6 - Real Estate (Details T
Note 6 - Real Estate (Details Textual) ft² in Millions | Jun. 30, 2022 ft² |
Number of Real Estate Properties | 8 |
Net Rentable Area (Square Foot) | 0.9 |
Note 7 - Debt (Details Textual)
Note 7 - Debt (Details Textual) $ in Thousands | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Number of Real Estate Properties | 8 | |
Real Estate Investment Property, at Cost, Total | $ 57,401 | $ 57,027 |
Secured Debt [Member] | ||
Number of Real Estate Properties | 1 | 1 |
Real Estate Investment Property, at Cost, Total | $ 21,300 | $ 21,300 |
Note 7 - Debt - Schedule of Deb
Note 7 - Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Less deferred financing costs, net of accumulated amortization | $ (34) | $ (48) |
Total notes payable | 14,927 | 14,920 |
Notes Payable to Banks [Member] | ||
Total, debt payable | 14,961 | 14,968 |
Notes Payable to Banks [Member] | Four Point Nine Seven Percent Fixed Rate Note Maturing September 2023 [Member] | ||
Total, debt payable | 14,814 | 14,968 |
Notes Payable to Banks [Member] | Three Point One Five Percent Fixed Rate Note Maturing December 2022 [Member] | ||
Total, debt payable | $ 147 | $ 0 |
Note 7 - Debt - Schedule of D_2
Note 7 - Debt - Schedule of Debt Maturities (Details) - Notes Payable to Banks [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
2022 (remaining), debt payable | $ 302 | |
2023, debt payable | 14,659 | |
Total, debt payable | $ 14,961 | $ 14,968 |
Note 8 - Convertible Notes Pa_2
Note 8 - Convertible Notes Payable - Related Parties (Details Textual) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) | Nov. 20, 2015 USD ($) $ / shares |
Debt Instrument, Number of Trustees | 5 | |||
Convertible Notes Payable, Total | $ 197,780 | $ 198,000 | $ 197,780 | |
Convertible Notes Payable [Member] | ||||
Convertible Notes Payable, Total | $ 197,780 | |||
Debt Instrument, Interest Rate, Stated Percentage | 10% | |||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 1.331 | |||
Accrued Interest, Related Parties | $ 131,000 | $ 121,000 |
Note 9 - Earnings (Loss) Per _3
Note 9 - Earnings (Loss) Per Share (Details Textual) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Convertible Notes Payable, Total | $ 197,780 | $ 198,000 | $ 197,780 |
Note 9 - Earnings (Loss) Per _4
Note 9 - Earnings (Loss) Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net loss attributable to common shareholders | $ (75) | $ (60) | $ (92) | $ (145) |
Weighted average number of common shares - basic (in shares) | 657,084 | 595,000 | 657,084 | 595,000 |
Weighted average number of common shares - dilutive (in shares) | 657,084 | 595,000 | 657,084 | 595,000 |
Net loss available to common shareholders (in dollars per share) | $ (0.11) | $ (0.10) | $ (0.14) | $ (0.24) |
Net loss available to common shareholders (in dollars per share) | $ (0.11) | $ (0.10) | $ (0.14) | $ (0.24) |
Note 10 - Related Party Trans_3
Note 10 - Related Party Transactions (Details Textual) - Whitestone [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Dec. 08, 2016 | |
Variable Interest Entity, Consideration, Limited Partnership Interest Unit Price (in dollars per share) | $ 1.331 | |
Property Management Fee, Percent Fee | 5% | |
Asset Management Fee, Percentage | 0.125% | |
Uptown Tower [Member] | ||
Property Management Fee, Percent Fee | 3% | |
Asset Management Fee, Percentage | 0.125% | |
Pillarstone Capital REIT Operating Partnership LP [Member] | ||
Equity Method Investments | $ 4,121,312 | |
Equity Method Investment, Ownership Percentage | 18.60% |
Note 10 - Related Party Trans_4
Note 10 - Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Asset management fees | $ (143) | $ (145) | $ (283) | $ (284) | |
Accounts Receivable Related Parties [Member] | |||||
Tenant receivables and other receivables | 1,404 | 1,404 | $ 1,011 | ||
Interest Payable [Member] | |||||
Accrued interest due to related party | (131) | (131) | (121) | ||
Accounts Payable Related Parties [Member] | |||||
Other payables due to related party | (1,175) | (1,175) | $ (846) | ||
Whitestone OP [Member] | |||||
Asset management fees | (45) | (45) | (90) | (90) | |
Whitestone OP [Member] | Rental Revenue [Member] | |||||
Rent | 174 | 226 | 366 | 451 | |
Whitestone OP [Member] | Property Operations and Maintenance [Member] | |||||
Property management fees | (99) | (100) | (194) | (194) | |
Whitestone OP [Member] | Office Expenses [Member] | |||||
Rent expense | $ (6) | $ (10) | $ (11) | $ (18) |
Note 11 - Incentive Equity Pl_3
Note 11 - Incentive Equity Plan (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Share-Based Payment Arrangement, Nonemployee [Member] | ||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 0 | $ 0 | $ 0 |
Share-Based Payment Arrangement, Employee [Member] | ||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 2,000 | $ 17,000 | |
The 2016 Equity Plan [Member] | ||||
Percent of Shares Authorized Under Plan, Aggregate Shares Issued and Outstanding | 12.5 | 12.5 |
Note 11 - Incentive Equity Pl_4
Note 11 - Incentive Equity Plan - Shares Available for Grant (Details) | Jun. 30, 2022 shares |
The 2016 Equity Plan [Member] | |
Shares, available for grant (in shares) | 2,086,655 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Jul. 19, 2022 | Jul. 31, 2022 | May 31, 2022 | Apr. 30, 2022 | Sep. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | |
Subsequent Event [Member] | |||||||
Monthly Property Management Fee, Percent of Monthly Revenue of Real Estate Asset | 5% | ||||||
Monthly Asset Management Fee, Percent of GAV of Real Estate Asset | 0.125% | ||||||
Monthly Property Management Fee, Percent of Monthly Revenue of Uptown Tower | 3% | ||||||
Monthly Asset Management Fee, Percent of GAV of Uptown Tower | 0.125% | ||||||
Whitestone OP [Member] | Limited Partner [Member] | |||||||
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest | 81.40% | 81.40% | |||||
Pillarstone [Member] | General Partner [Member] | |||||||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 18.60% | 18.60% | |||||
Whitestone And Whitestone OP [Member] | |||||||
Related Party Transaction, Legal Reserve | $ 1,819,729 | ||||||
Operating And Administrative Expense For 2017 Through 2021 [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 1,819,729 | ||||||
Operating And Administrative Expense For 2017 Through 2021 [Member] | Whitestone And Whitestone OP [Member] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 1,819,729 | ||||||
Construction And Lease Commission Expenditures During 2017 and 2018 [Member] | Whitestone And Whitestone OP [Member] | |||||||
Related Party Transaction, Expenses from Transactions with Related Party | 1,425,972 | ||||||
Expense Reimbursement For Operating And Administrative Expenses [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 117,186 | 117,186 | |||||
Expense Reimbursement For Operating And Administrative Expenses [Member] | Whitestone And Whitestone OP [Member] | Subsequent Event [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 94,550 | ||||||
Expense Reimbursement For Operating And Administrative Expenses [Member] | Pillarstone OP [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 176,593 | ||||||
Expense Reimbursement For Operating And Administrative Expenses [Member] | Pillarstone OP [Member] | Subsequent Event [Member] | |||||||
Related Party Transaction, Amounts of Transaction | 94,550 | ||||||
Contested Expense Reimbursements [Member] | Whitestone And Whitestone OP [Member] | Subsequent Event [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 61,724 | ||||||
Contested Expense Reimbursements [Member] | Pillarstone OP [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 59,407 | ||||||
Uncontested Expense [Member] | Pillarstone OP [Member] | Forecast [Member] | |||||||
Related Party Transaction, Amounts of Transaction | $ 32,826 |