Loans Payable (Tables)

9 Months Ended

Sep. 30, 2022

Debt Instruments [Abstract]

Schedule of Loans Payable

Information on the Company’s Loans payable as of September 30, 2022 and December 31, 2021 is as follows:

Description	September 30, 2022
	GR Property			FM Property			CO Property			DST Properties			Buchanan Property			Keller Springs Property			Summerfield Property			Valencia Property			Credit Facility			Kacey Property			Industry Property			ON3 Property			West End Property			Palms Property			Total
Principal amount of loans	$	4,500,000		$	21,000,000		$	26,550,000		$	22,495,184		$	9,600,000		$	31,277,000		$	76,575,000		$	55,200,000		$	35,350,000		$	40,640,000		$	43,200,000		$	66,731,250		$	29,000,000		$	20,000,000		$	482,118,434
Less: Deferred financing costs, net of accumulated amortization of $1,067,377		(39,143	)		(115,918	)		(173,320	)		(232,944	)		(69,217	)		(280,804	)		(186,672	)		(782,995	)		(760,660	)		(346,414	)		(416,452	)		(921,800	)		(441,230	)		(386,632	)		(5,154,201	)
Loans payable, net of deferred financing costs and amortization	$	4,460,857		$	20,884,082		$	26,376,680		$	22,262,240		$	9,530,783		$	30,996,196		$	76,388,328		$	54,417,005		$	34,589,340		$	40,293,586		$	42,783,548		$	65,809,450		$	28,558,770		$	19,613,368		$	476,964,233
Description	December 31, 2021
	GR Property			FM Property			CO Property			DST Properties			Buchanan Property			Keller Springs Property			Summerfield Property			Valencia Property			Credit Facility			Kacey Property			Industry Property			Total
Principal amount of loans	$	4,500,000		$	21,000,000		$	26,550,000		$	22,495,184		$	9,600,000		$	31,277,000		$	76,575,000		$	55,200,000		$	28,850,000		$	40,640,000		$	43,200,000		$	359,887,184
Less: Deferred financing costs, net of accumulated    amortization of $488,937		(45,290	)		(129,773	)		(186,338	)		(252,090	)		(74,520	)		(305,751	)		(203,088	)		(849,750	)		(927,108	)		(374,663	)		(450,099	)	$	(3,798,470	)
Loans payable, net of deferred financing costs and amortization	$	4,454,710		$	20,870,227		$	26,363,662		$	22,243,094		$	9,525,480		$	30,971,249		$	76,371,912		$	54,350,250		$	27,922,892		$	40,265,337		$	42,749,901		$	356,088,714

Schedule of Future Principal Payment Due under Loan Agreements

The following table presents the future principal payments due under the Company’s loan agreements as of September 30, 2022:

Year	Amount
2022 (remaining)		—
2023		—
2024		35,350,000
2025		—
2026		—
Thereafter		446,768,434
Total	$	482,118,434