Loans Payable (Tables)

9 Months Ended

Sep. 30, 2021

Debt Instruments [Abstract]

Schedule of Loans Payable

Information on the Company’s Loans payable as of September 30, 2021 and December 31, 2020 is as follows:

Description	September 30, 2021
	GR Property			FM Property			CO Property			DST Properties			Buchanan Property			Keller Springs Property			Summerfield Property			Valencia Property			Credit Facility			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		$	63,170,173		$	310,367,357
Less: Deferred financing costs, net of    accumulated amortization of $335,163		(47,339	)		(134,442	)		(190,725	)		(258,472	)		(76,307	)		(314,158	)		(208,620	)		(872,246	)		(1,015,968	)		(3,118,277	)
Loans payable, net of deferred financing    costs and amortization	$	4,452,661		$	20,865,558		$	26,359,275		$	22,236,712		$	9,523,693		$	30,962,842		$	76,366,380		$	54,327,754		$	62,154,205		$	307,249,080
Description	December 31, 2020
	GR Property			FM Property			CO Property			DST Properties			Buchanan Property			Keller Springs Property			Summerfield Property			Valencia Property			Credit Facility			Total
Principal amount of loans	$	4,500,000		$	21,000,000		$	26,550,000		$	22,495,184		$	9,600,000		$	—		$	—		$	—		$	—		$	84,145,184
Less: Deferred financing costs, net of    accumulated amortization of $158,042		(53,485	)		(148,297	)		(203,743	)		(277,618	)		(81,610	)		—			—			—			—			(764,753	)
Loans payable, net of deferred financing    costs and amortization	$	4,446,515		$	20,851,703		$	26,346,257		$	22,217,566		$	9,518,390		$	—		$	—		$	—		$	—		$	83,380,431

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, 2021:

Year	Amount
2021 (remaining)	$	—
2022		—
2023		—
2024		63,170,173
2025		—
Thereafter		247,197,184
Total	$	310,367,357