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Non-Controlling Interests (Tables)
 6 Months Ended
Jun. 30, 2024
Noncontrolling Interest [Abstract]  
Summary of Redeemable Non-Controlling Interests The following table reflects the Company's redeemable non-controlling interests and non-controlling interest during the three and six months ended June 30, 2024 and 2023:

 

 

Brown Family Trust and Brown Family Enterprises, LLC

 

Irby Prop Partners

 

Richard Hornstrom

 

LMB Owenton I LLC

 

Greenwal L.C.

 

Riverside Crossing L.C.

 

GIP LP (Former Greenwal, L.C. and Riverside Crossing, L.C. Members)

 

JCWC Funding, LLC

 

LC2-NNN Pref, LLC

 

Total Redeemable Non-Controlling Interests

 

Non-Controlling Interests - Former GIP Fund 1 Members

 

Balance, December 31, 2022

$

500,000

 

$

1,014,748

 

$

686,114

 

$

1,109,570

 

$

2,479,299

 

$

-

 

$

2,479,299

 

$

-

 

$

-

 

$

5,789,731

 

$

445,035

 

Issuance of Redeemable Non-Controlling Interests

 

3,000,000

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

3,000,000

 

 

-

 

Redemption of Redeemable Non-Controlling Interests

 

-

 

 

-

 

 

-

 

 

-

 

 

(2,479,299

)

 

-

 

 

(2,479,299

)

 

-

 

 

-

 

 

(2,479,299

)

 

-

 

Distribution on Non-Controlling Interests

 

(46,346

)

 

(19,000

)

 

(13,000

)

 

(18,135

)

 

(14,562

)

 

(4,774

)

 

(19,336

)

 

-

 

 

-

 

 

(115,817

)

 

(2,844

)

Net income (loss) for the quarter

 

46,346

 

 

28,681

 

 

19,624

 

 

18,135

 

 

14,562

 

 

4,774

 

 

19,336

 

 

-

 

 

-

 

 

132,122

 

 

(4,908

)

Balance, March 31, 2023

$

3,500,000

 

$

1,024,429

 

$

692,738

 

$

1,109,570

 

$

-

 

$

-

 

$

-

 

$

-

 

$

-

 

$

6,326,737

 

$

437,283

 

Distribution on Non-Controlling Interests

 

(63,606

)

 

(19,000

)

 

(13,000

)

 

(18,157

)

 

(9,963

)

 

(3,272

)

 

(13,235

)

 

-

 

 

-

 

 

(126,998

)

 

(2,844

)

Net income (loss) for the quarter

 

63,606

 

 

28,681

 

 

19,624

 

 

18,157

 

 

9,963

 

 

3,272

 

 

13,235

 

 

-

 

 

-

 

 

143,303

 

 

(14,238

)

Balance, June 30, 2023

$

3,500,000

 

$

1,034,110

 

$

699,362

 

$

1,109,570

 

$

-

 

$

-

 

$

-

 

$

-

 

$

-

 

$

6,343,042

 

$

420,201

 

Balance, December 31, 2023

$

3,000,000

 

$

-

 

$

-

 

$

1,109,570

 

$

-

 

$

-

 

$

-

 

$

-

 

$

14,702,853

 

$

18,812,423

 

$

406,131

 

Distribution on Non-Controlling Interests

 

(52,500

)

 

-

 

 

-

 

 

(18,157

)

 

(7,306

)

 

(2,399

)

 

(9,705

)

 

-

 

 

(187,471

)

 

(267,833

)

 

(2,844

)

Net income (loss) for the quarter

 

52,500

 

 

-

 

 

-

 

 

18,157

 

 

7,306

 

 

2,399

 

 

9,705

 

 

-

 

 

873,344

 

 

953,706

 

 

(7,582

)

Balance, March 31, 2024

$

3,000,000

 

$

-

 

$

-

 

$

1,109,570

 

$

-

 

$

-

 

$

-

 

$

-

 

$

15,388,726

 

$

19,498,296

 

$

395,705

 

Issuance of Redeemable Non-Controlling Interests

$

-

 

$

-

 

$

-

 

$

-

 

$

-

 

$

-

 

 

-

 

$

2,500,000

 

$

-

 

 

2,500,000

 

$

-

 

Distribution on Non-Controlling Interests

 

(52,500

)

 

-

 

 

-

 

 

(18,157

)

 

(5,979

)

 

(1,963

)

 

(7,942

)

 

-

 

 

(192,491

)

 

(271,090

)

 

(2,844

)

Net income (loss) for the quarter

$

52,500

 

 

-

 

 

-

 

 

18,157

 

 

5,979

 

 

1,963

 

 

7,942

 

 

-

 

 

721,635

 

 

800,234

 

 

 

Balance, June 30, 2024

$

3,000,000

 

$

-

 

$

-

 

$

1,109,570

 

$

-

 

$

-

 

$

-

 

$

2,500,000

 

$

15,917,870

 

$

22,527,440

 

$

392,861