Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 and December 31, 2020.

	Balance Sheet Location	September 30, 2021		December 31, 2020
Derivatives designated as hedging instruments:
Interest rate “pay-fixed” swap	Derivative liabilities, at fair value	$	490,615	$	—

Derivative Designated As Hedging Instrument [Member]

Summary of Interest Rate Derivatives

As of September 30, 2021 the Company had the following derivatives that were designated as cash flow hedges of interest rate risk:

	September 30, 2021
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.

	September 30, 2021
Interest Rate Derivative	Number of Instruments		Notional Amount
Interest Rate Cap		1	$	31,277,000