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Redeemable Non-Controlling Interests (Tables)
12 Months Ended
Dec. 31, 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

 

Issuance of Redeemable Operating Partnership Units for property acquisition

 

 

 

 

 

 

 

 

 

 

 

486,180

 

 

 

 

 

 

 

 

 

486,180

 

Distribution on Redeemable Non-Controlling Interest

 

 

(119,630

)

 

 

 

 

 

 

 

 

 

 

 

(260,663

)

 

 

(106,745

)

 

 

(487,038

)

Net income for the year

 

 

119,630

 

 

 

 

 

 

 

 

 

 

 

 

260,663

 

 

 

106,745

 

 

 

487,038

 

Balance, December 31, 2020

 

$

1,200,000

 

 

$

 

 

$

 

 

$

486,180

 

 

$

4,965,000

 

 

$

2,033,251

 

 

$

8,684,431

 

Issuances of Redeemable Non-Controlling Interests for property acquisitions

 

 

500,000

 

 

 

950,000

 

 

 

650,000

 

 

 

 

 

 

 

 

 

 

 

 

2,100,000

 

Redemption of Redeemable Non-Controlling Interest for property disposition

 

 

(1,200,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,200,000

)

Distribution on Redeemable Non-Controlling Interest

 

 

(120,971

)

 

 

(53,511

)

 

 

(19,945

)

 

 

(14,584

)

 

 

(82,550

)

 

 

(201,760

)

 

 

(493,321

)

Net income for the year

 

 

120,971

 

 

 

80,267

 

 

 

29,917

 

 

 

14,584

 

 

 

82,550

 

 

 

201,760

 

 

 

530,049

 

Balance, December 31, 2021

 

$

500,000

 

 

$

976,756

 

 

$

659,972

 

 

$

486,180

 

 

$

4,965,000

 

 

$

2,033,251

 

 

$

9,621,159