Tenancy-in-Common Investment (Tables)

6 Months Ended

Jun. 30, 2023

Tenant In Common Investment [Abstract]

Condensed Income Statement of Tenant in Common Investment

The condensed income statements for the six months ended June 30, 2023 and 2022 are as follows:

	Three Months ended June 30,					Six Months ended June 30,
	2023		2022			2023		2022
Total revenue	$	100,731	$	93,139		$	193,870	$	186,278
Total expenses	$	70,714	$	64,213		$	135,049	$	134,137
Operating income	$	30,017	$	28,926		$	58,821	$	52,141
Loss on debt extinguishment	$	-	$	(31,151	)	$	-	$	(31,851	)
Net income (loss)	$	30,017	$	(2,925	)	$	58,821	$	20,290
GIP, LP's Share	$	15,009	$	(1,462	)	$	29,411	$	7,090

Condensed Balance Sheets of Tenant in Common Investment

The condensed balance sheets of the tenancy-in-common investment as of June 30, 2023 and December 31, 2022, respectively, are as follows:

	As of June 30,		As of December 31,
	2023		2022
Net real estate investments	$	4,444,112	$	4,503,120
Deferred rent asset		6,395		7,132
Prepaid expenses		1,318		343
Due from related party		76,735		21,710
Total Assets	$	4,528,560	$	4,532,305
Accounts payable and accrued expenses	$	7,379	$	6,738
Prepaid rent		26,681		30,550
Acquired lease intangible liabilities, net		31,845		35,561
Mortgage loan, net of unamortized debt issuance costs		2,080,490		2,088,116
Total Liabilities	$	2,146,395	$	2,160,965
GIP, LP	$	1,247,679	$	1,218,268
SUNNY RIDGE MHP, LLC		1,134,486		1,153,072
Total Tenants in Common Equity	$	2,382,165	$	2,371,340
Total Liabilities and Tenants in Common Equity	$	4,528,560	$	4,532,305