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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Rental revenues $ 18,084,391 $ 17,331,507 $ 36,115,483 $ 34,350,474
Preferred return income 247,676 244,393 495,351 486,100
Income from mezzanine loan investment 264,250 260,748 528,308 518,438
Other property operating revenues 7,182,646 4,804,130 11,785,762 8,557,339
Total revenues 25,778,963 22,640,778 48,924,904 43,912,351
Operating expenses:        
General and administrative expenses 63,240 64,581 130,551 4,959,092
Depreciation and amortization 8,503,347 8,472,369 17,401,347 17,209,486
Management fees 1,571,674 1,765,866 3,230,200 3,530,330
Property operating expenses 11,438,151 9,142,736 20,420,767 16,811,429
Total operating expenses 21,576,412 19,445,552 41,182,865 42,510,337
Other income (expense):        
Income from investments in real estate-related assets 43,281 41,134 80,557 49,482
Interest income 269,368 303,984 523,192 579,897
Net gain/(loss) from investment in debt securities, at fair value (74,687)   1,340,614  
Interest expense (6,766,904) (5,261,122) (13,310,636) (10,401,545)
Total other income (expense) (6,528,942) (4,916,004) (11,366,273) (9,772,166)
Net income (loss) (2,326,391) (1,720,778) (3,624,234) (8,370,152)
Net income (loss) attributable to non-controlling interest (370,688) (929,486) (1,587,178) (2,204,019)
Net income (loss) attributable to common stockholders $ (1,955,703) $ (791,292) $ (2,037,056) $ (6,166,133)
Weighted average shares outstanding, basic 14,010,375 15,823,458 14,274,353 15,754,656
Weighted average shares outstanding,diluted 14,010,375 15,823,458 14,274,353 15,754,656
Net income (loss) per common share - basic $ (0.14) $ (0.05) $ (0.14) $ (0.39)
Net income (loss) per common share - diluted $ (0.14) $ (0.05) $ (0.14) $ (0.39)