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Redeemable Non-Controlling Interests (Tables)
 9 Months Ended
Sep. 30, 2021
Noncontrolling Interest [Abstract]  
Summary of Redeemable Non-Controlling Interests

The following table reflects our Redeemable Non-Controlling Interests:

 

 

 

Brown Family Trust

 

Irby Prop Partners

 

Hornstrom

 

GIP Fund I

 

Greenwal L.C.

 

Riverside Crossing L.C.

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2019

 

 

$1,200,000

 

$-

 

$-

 

$-

 

$4,965,000

 

$2,033,251

 

$8,198,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distribution on Redeemable Non-Controlling Interest

 

 

(20,375)

 

-

 

-

 

-

 

(86,887)

 

(35,582)

 

(142,844)

Net income for the quarter

 

 

20,375

 

-

 

-

 

-

 

86,887

 

35,582

 

142,844

Balance, March 31, 2020

 

 

$1,200,000

 

$-

 

$-

 

$-

 

$4,965,000

 

$2,033,251

 

$8,198,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distribution on Redeemable Non-Controlling Interest

 

 

(39,851)

 

-

 

-

 

-

 

-

 

-

 

(39,851)

Net income for the quarter

 

 

39,851

 

-

 

-

 

-

 

-

 

-

 

39,851

Balance, June 30, 2020

 

 

$1,200,000

 

$-

 

$-

 

$-

 

$4,965,000

 

$2,033,251

 

$8,198,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distribution on Redeemable Non-Controlling Interest

 

 

(29,553)

 

-

 

-

 

-

 

(86,888)

 

(35,582)

 

(152,023)

Net income for the quarter

 

 

29,553

 

-

 

-

 

-

 

86,888

 

35,582

 

152,023

Balance, September 30, 2020

 

 

$1,200,000

 

$-

 

$-

 

$-

 

$4,965,000

 

$2,033,251

 

$8,198,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2020

 

 

$1,200,000

 

$-

 

$-

 

$486,180

 

$4,965,000

 

$2,033,251

 

$8,684,431

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of Redeemable Non-Controlling Interest for property acquisition

 

 

500,000

 

-

 

-

 

-

 

-

 

-

 

500,000

Distribution on Redeemable Non-Controlling Interest

 

 

(37,104)

 

-

 

-

 

-

 

(33,041)

 

(80,681)

 

(150,826)

Net income for the quarter

 

 

37,104

 

-

 

-

 

-

 

33,041

 

80,681

 

150,826

Balance, March 31, 2021

 

 

$1,700,000

 

$-

 

$-

 

$486,180

 

$4,965,000

 

$2,033,251

 

$9,184,431

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of Redeemable Non-Controlling Interest for property acquisition

 

 

-

 

950,000

 

-

 

-

 

-

 

-

 

950,000

Distribution on Redeemable Non-Controlling Interest

 

 

(41,125)

 

(15,275)

 

-

 

(2,748)

 

-

 

-

 

(59,148)

Net income for the quarter

 

 

41,125

 

15,275

 

-

 

2,748

 

-

 

-

 

59,148

Balance, June 30, 2021

 

 

$1,700,000

 

$950,000

 

$-

 

$486,180

 

$4,965,000

 

$2,033,251

 

$10,134,431

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Redemption of Redeemable Non-Controlling Interest for property disposal

 

 

(1,200,000)

 

-

 

-

 

-

 

-

 

-

 

(1,200,000)

Issuance of Redeemable Non-Controlling Interest for property acquisition

 

 

-

 

-

 

650,000

 

-

 

-

 

-

 

650,000

Distribution on Redeemable Non-Controlling Interest

 

 

(31,399)

 

(19,081)

 

(6,838)

 

(7,898)

 

(33,040)

 

(80,863)

 

(179,119)

Net income for the quarter

 

 

31,399

 

36,259

 

10,257

 

7,898

 

33,040

 

80,863

 

199,716

Balance, September 30, 2021

 

 

$500,000

 

$967,178

 

$653,419

 

$486,180

 

$4,965,000

 

$2,033,251

 

$9,605,028