Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Summary of Fair Value of Derivative Financial Instrument

The table below presents the fair value of the Company’s derivative financial instrument as well as its classification on the consolidated balance sheet as of June 30, 2024, and December 31, 2023:

	Balance Sheet Location	June 30, 2024		December 31, 2023
Derivatives designated as hedging instruments:
Interest rate “pay-fixed” swap	Derivative assets, at fair value	$	8,738,825	$	7,556,416

Derivative Designated As Hedging Instrument [Member]

Summary of Interest Rate Derivatives

As of June 30, 2024 the Company had the following derivatives that were designated as cash flow hedges of interest rate risk:

	June 30, 2024
Interest Rate Derivative	Number of Instruments	Notional Amount
Interest Rate Swaps	1		55,200,000

Derivative Not Designated As Hedging Instrument [Member]

Summary of Interest Rate Derivatives

The following table details the Company’s interest rate derivative not designated as a hedge:

	June 30, 2024
Interest Rate Derivative	Number of Instruments		Notional Amount
Interest Rate Cap		1	$	31,277,000