Tenant in Common Investment (Tables)

3 Months Ended

Mar. 31, 2022

Tenant In Common Investment [Abstract]

Condensed Income Statement of Tenant in Common Investment

The condensed income statement for the three months ended March 31, 2022 for the Tenant in Common Investment is as follows:

	Total		Company Portion
Revenue	$	93,139	$	34,312
Total operating expenses		69,924		25,760
Operating income	$	23,215	$	8,552

Condensed Balance Sheets of Tenant in Common Investment

The condensed balance sheets as of March 31, 2022 and December 31, 2021, respectively for the Tenant in Common Investment are as follows:

	March 31,		December 31,
	2022		2021
Prepaid expenses	$	2,007	$	522
Deferred rent asset		3,689		2,108
Property, net of depreciation		4,323,875		4,341,285
Acquired lease intangible asset, net of amortization		267,756		279,850
Due from tenant-in-common		86,871		47,350
Total assets	$	4,684,198	$	4,671,115
Accounts payable	$	—	$	845
Accounts payable - related party		24,724		13,696
Accrued expenses		4,751		4,751
Acquired lease intangible liability, net of amortization		41,135		42,993
Mortgage payable net of unamortized debt issuance costs		2,683,149		2,677,446
Equity, GIP Inc. Tenant-in-common		733,635		725,082
Equity, Sunny Ridge Tenant-in-common		1,196,804		1,206,302
Total liabilities and equity	$	4,684,198	$	4,671,115