Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of Recurring Assets and Liabilities Measured at Fair Value

The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were two non-recurring or infrequent asset valuations and no non-recurring liabilities for fair value measurements as of December 31, 2024 and 2023, respectively):

	December 31, 2024						December 31, 2023
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Financial Assets
Interest-rate swap(1)	$	—		$	—		$	627,676		$	627,676
Interest-rate cap(2)	$	379,433		$	379,433		$	—		$	—
Financial Liabilities
Mortgage loans(3)	$	(316,516,148	)	$	(315,981,358	)	$	(315,989,194	)	$	(303,949,790	)

(1)The interest-rate swap agreement allowed the Company to receive a variable rate of interest based upon 1-month SOFR in exchange for a fixed rate of 2.826% on a notional amount which approximated the declining balance of the mortgage loan on the Hotel Alba. The interest-rate swap was terminated on February 14, 2024.

(2)The interest-rate cap agreement allows the Company to receive a variable rate of interest based upon the amount in which 1-month SOFR exceeds 3.0% on a notional amount of $26.0 million on the DoubleTree by Hilton Philadelphia Airport. The interest rate cap terminates on May 1, 2026.

(3)Mortgage loans had a carrying value on our Consolidated Balance Sheets of $316,516,148 and $315,989,194, as of December 31, 2024 and December 31, 2023, respectively.