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Redeemable Non-Controlling Interests (Tables)
 3 Months Ended
Mar. 31, 2022
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

 

LMB Owenton I LLC

 

Greenwal L.C.

 

Riverside Crossing L.C.

 

Total

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)

 

-

 

-

 

-

 

-

 

(80,681)

 

(33,041)

 

(150,826)

Net income for the quarter

 

 

37,104

 

-

 

-

 

-

 

-

 

80,681

 

33,041

 

150,826

Balance, March 31, 2021

 

 

$1,700,000

 

$-

 

$-

 

$486,180

 

$-

 

$4,965,000

 

$2,033,251

 

$9,184,431

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2021

 

 

$500,000

 

$976,756

 

$659,972

 

$486,180

 

$-

 

$4,965,000

 

$2,033,251

 

$9,621,159

Issuance of Redeemable Operating Partnership Units for property acquisition

 

 

 

 

 

 

 

 

 

 

1,109,570

 

 

 

 

 

1,109,570

Distribution on Redeemable Non-Controlling Interest

 

 

(11,260)

 

(19,001)

 

(13,087)

 

(3,938)

 

(15,269)

 

(40,217)

 

(16,469)

 

(119,241)

Net income for the quarter

 

 

11,260

 

28,370

 

19,498

 

3,938

 

15,269

 

40,217

 

16,469

 

135,021

Balance, March 31, 2022

 

 

$500,000

 

$986,125

 

$666,383

 

$486,180

 

$1,109,570

 

$4,965,000

 

$2,033,251

 

$10,746,509