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Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Assets    
Investment in real estate, net of accumulated depreciation of $22,170,143 and $18,256,155, respectively $ 661,333,695 $ 609,708,084
Cash and cash equivalents 20,289,635 15,361,059
Restricted cash 3,116,730 3,665,085
Investments in real estate-related assets 30,984,303 31,458,326
Intangible assets, net of accumulated amortization of $13,944,532 and $10,903,590, respectively 63,918,359 61,583,894
Operating lease right-of-use asset 16,445,757 16,466,271
Deferred rent receivable 7,186,507 5,716,375
Prepaid expenses and other assets 7,125,302 5,701,723
Derivative assets, at fair value 3,709,924  
Due from related party 415,835 415,835
Stock subscriptions receivable 0 419,684
Accrued preferred return receivable   81,018
Accrued income from mezzanine loan investment   72,498
Total assets 814,526,047 750,649,852
Liabilities    
Loans payable, net of deferred financing costs of $3,685,465 and $3,798,470, respectively 375,201,719 356,088,714
Intangible liabilities, net of accumulated amortization of $2,456,193 and $2,201,745, respectively 11,148,609 9,285,256
Operating lease liability 16,445,757 16,466,271
Distributions payable 6,904,414 6,311,100
Due to related parties 5,623,244 2,109,833
Restricted reserves 3,076,685 3,932,628
Deferred revenue 1,155,313 1,404,670
Accrued interest payable 990,873 802,286
Accounts payable and accrued expenses 864,837 149,792
Derivative liabilities, at fair value   157,709
Total liabilities 421,411,451 396,708,259
Commitments and contingencies (Note 12) 0
Stockholders' equity    
Preferred stock, $0.01 par value per share, 50,000,000 shares authorized, and 0 issued and outstanding at each March 31, 2022 and December 31, 2021
Additional paid-in capital 291,001,622 238,954,331
Retained earnings/accumulated deficit and cumulative distributions (37,771,857) (30,111,852)
Accumulated other comprehensive income/(loss) 370,992 (15,771)
Total controlling interest 253,714,994 208,921,765
Non-controlling interests in subsidiaries 139,399,602 145,019,828
Total stockholders' equity 393,114,596 353,941,593
Total liabilities and stockholders' equity 814,526,047 750,649,852
Class AX [Member]    
Stockholders' equity    
Common stock 35,935 34,412
Class TX [Member]    
Stockholders' equity    
Common stock 11,306 13,191
Class IX [Member]    
Stockholders' equity    
Common stock 12,095 12,030
Class T [Member]    
Stockholders' equity    
Common stock 7,405 5,551
Class S [Member]    
Stockholders' equity    
Common stock 44 44
Class D [Member]    
Stockholders' equity    
Common stock 3,756 2,756
Class I [Member]    
Stockholders' equity    
Common stock $ 43,696 $ 27,073