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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (11,223,832) $ (3,691,927)
Adjustments to reconcile net loss to net cash from operating activities:    
Net unrealized loss on equity securities at fair value 697,644 2,079,093
Net income from equity method investments at fair value (1,556,115) (1,216,922)
Net realized (gain) loss on investments 3,016,772 (656,984)
Net loss on disposal of real estate 0 352,540
Impairment loss on assets held for sale 0 8,121,090
Gain on extinguishment of debt 0 (14,840,728)
Straight-line rent (132,635) (63,543)
Depreciation and amortization 7,153,411 5,273,793
Amortization of deferred financing costs and debt mark-to-market 1,427,349 948,554
Accretion of above (below) market lease, net (339,767) (474,185)
Changes in assets and liabilities:    
Investments income, rents and other receivables 67,547 1,416,972
Due from related entities 17,000 401
Prepaid expenses and other assets (401,222) (622,948)
Deferred rent and other liabilities (49,924) (796,083)
Accounts payable and accrued liabilities 743,499 (1,945,377)
Due to related entities (15,244) (504,520)
Net cash from operating activities (595,517) (6,620,774)
Cash flows from investing activities:    
Proceeds from sale of investments 10,564,732 15,236,124
Investment acquisition advance 0 (100,000)
Net proceeds from sale of real estate 0 8,695,764
Investments in real estate assets (10,237,605) (18,700,523)
Purchase of investments (1,062,163) (1,621,948)
Return of capital distributions 938,296 12,957,338
Payment on contingent liability (1,503,000) (1,154,125)
Net cash from investing activities (1,299,740) 15,312,630
Cash flows from financing activities:    
Proceeds from mortgage notes payable 3,288,715 3,221,375
Payments on mortgage notes payable (1,337,498) (8,855,266)
Proceeds from notes payable 200,000 10,111
Payments on notes payable (368,164) (17,005)
Payment of loan extension fee (876,500) 0
Acquisition cost of below market debt (343,000) 0
Dividend to common stockholders (5,180,792) (3,848,624)
Payment on finance lease liabilities (104,416) (30,276)
Payment of selling commissions and fees (899,372) (1,206,115)
Contributions by non-controlling interests holders 2,532,427 1,333
Distributions to non-controlling interests holders (834,804) (449,092)
Redemption of common stock, net of stock redemption payable (1,399,205) (1,585,060)
Capital pending acceptance (241,600) 453,600
Net cash from financing activities (3,168,423) 450,998
Net increase (decrease) in cash, cash equivalents and restricted cash (5,063,680) 9,142,854
Cash, cash equivalents and restricted cash at beginning of the year 18,141,019 8,998,165
Cash, cash equivalents and restricted cash at end of the year 13,077,339 18,141,019
Cash and cash equivalents at end of the year 11,854,946 17,242,781
Restricted cash at end of the year 1,222,393 898,238
Total cash, cash equivalents and restricted cash at end of the year 13,077,339 18,141,019
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of common stock through reinvestment of dividends 1,371,351 1,638,739
Issuance Operating Partnership Preferred Units through reinvestment of dividends 83,883 51,413
Cash paid for interest 4,577,961 5,743,630
Reduction in contingent consideration estimate 0 57,875
GV Executive Center, LLC [Member]    
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of the Operating Partnership Preferred Units for the purchase of interest (Note 1) 8,703,127 0
Fair value of assets acquired from consolidation 22,765,656 0
Fair value of liabilities assumed from consolidation 14,062,529 0
One Harbor Center, LP [Member]    
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of the Operating Partnership Preferred Units for the purchase of interest (Note 1) 2,647,620 0
Fair value of assets acquired from consolidation 14,950,638 0
Fair value of liabilities assumed from consolidation 8,797,634 0
First & Main, LP [Member]    
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of the Operating Partnership Preferred Units for the purchase of interest (Note 1) 0 2,711,378
Fair value of assets acquired from consolidation 0 18,507,861
Fair value of liabilities assumed from consolidation 0 13,559,483
Main Street West, LP [Member]    
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of the Operating Partnership Preferred Units for the purchase of interest (Note 1) 0 3,242,557
Fair value of assets acquired from consolidation 0 20,699,145
Fair value of liabilities assumed from consolidation 0 16,119,679
1300 Main, LP [Member]    
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Fair value of assets acquired from consolidation 0 10,546,464
Fair value of liabilities assumed from consolidation 0 8,753,242
Woodland Corporate Center Two, LP [Member]    
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Fair value of assets acquired from consolidation 0 11,538,400
Fair value of liabilities assumed from consolidation 0 8,295,843
Series A Preferred Stock [Member]    
Cash flows from financing activities:    
Dividend to preferred stockholders (894,748) (620,222)
Proceeds from issuance of preferred stock 2,140,949 13,408,089
Redemption of preferred stock, net of stock redemption payable (75,839) (31,850)
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of preferred stock through reinvestment of dividends 174,179 75,379
Issuance Operating Partnership Preferred Units through reinvestment of dividends 83,884 0
Series B Preferred Stock [Member]    
Cash flows from financing activities:    
Dividend to preferred stockholders (2,526) 0
Proceeds from issuance of preferred stock 1,227,950 0
Supplemental disclosure of non-cash financing activities and other cash flow information:    
Issuance of preferred stock through reinvestment of dividends 48 0
Increase in liquidation preference 31,497 0
Increase in liquidation preference of Operating Partnership Preferred Units $ 16,205 $ 0