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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ (2,936,528) $ 1,752,495
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 16,642,727 6,595,531
Loss from investments in real estate-related assets 95,813  
Amortization of above-market lease intangibles 134,097 30,295
Amortization of below-market lease intangibles (924,998) (847,890)
Changes in assets and liabilities:    
Proceeds from investments in real estate-related assets 412,801 6,760
(Increase) in deferred rent receivable (3,928,109) (562,403)
(Increase) in accrued preferred return receivable (81,018)  
(Increase) in accrued income from mezzanine loan investment (72,498)  
(Increase) in due from related party (140,371) (275,464)
(Increase)/decrease in prepaid expenses and other assets (5,269,955) 29,483
Increase in due to related parties 1,350,821 43,634
Increase in deferred revenue 834,308 9,306
Increase in restricted reserves 3,732,141 167,363
(Decrease)/increase in accounts payable and accrued expenses (425,133) 44,412
Increase in distribution payable 420,449  
Increase in accrued interest payable 529,086  
Net cash provided by operating activities 10,373,633 6,993,522
Cash flows from investing activities:    
Acquisition of real estate (128,443,281)  
Purchase of interest in real estate-related assets   (7,573,700)
Cash used in investing activities (128,443,281) (7,573,700)
Cash flows from financing activities:    
Borrowings under credit facility 28,850,000  
Proceeds from issuance of common stock, net 77,661,566 27,074,677
Distributions (7,489,752) (5,638,039)
Payments from redemptions of common stock (7,294,935) (4,546,882)
Non-controlling interest distributions (1,598,378) (89,749)
Syndicated ownership interest 16,807,073  
Payment of deferred financing costs (3,364,612)  
Net cash provided by financing activities 103,570,962 16,800,007
Net (decrease)/increase in cash and cash equivalents (14,498,686) 16,219,829
Cash and cash equivalents, at beginning of period 33,524,830 17,305,001
Cash and cash equivalents, at end of period 19,026,144 33,524,830
Supplemental disclosure of cash flow information:    
Cash paid for interest 8,003,646 3,861,884
Non-cash investing and financing activities:    
Distribution reinvestment 3,788,095 3,178,135
Distributions payable 649,294 $ 927,056
Assumption of loans payable in conjunction with acquisitions of real estate 246,892,000  
Acquired non-controlling interests $ 136,627,054