Loans Payable (Tables)

3 Months Ended

Mar. 31, 2022

Debt Instruments [Abstract]

Schedule of Loans Payable

Information on the Company’s Loans payable as of March 31, 2022 and December 31, 2021 is as follows:

Description	March 31, 2022
	GR Property			FM Property			CO Property			DST Properties			Buchanan Property			Keller Springs Property			Summerfield Property			Valencia Property			Credit Facility			Kacey Property			Industry Property			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		$	47,850,000		$	40,640,000		$	43,200,000		$	378,887,184
Less: Deferred financing costs, net of accumulated amortization of $654,274		(43,241	)		(125,206	)		(182,047	)		(245,708	)		(72,772	)		(297,526	)		(197,676	)		(827,743	)		(889,190	)		(365,350	)		(439,006	)		(3,685,465	)
Loans payable, net of deferred financing costs and amortization	$	4,456,759		$	20,874,794		$	26,367,953		$	22,249,476		$	9,527,228		$	30,979,474		$	76,377,324		$	54,372,257		$	46,960,810		$	40,274,650		$	42,760,994		$	375,201,719
Description	December 31, 2021
	GR Property			FM Property			CO Property			DST Properties			Buchanan Property			Keller Springs Property			Summerfield Property			Valencia Property			Credit Facility			Kacey Property			Industry Property			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		$	28,850,000		$	40,640,000		$	43,200,000		$	359,887,184
Less: Deferred financing costs, net of accumulated    amortization of $488,937		(45,290	)		(129,773	)		(186,338	)		(252,090	)		(74,520	)		(305,751	)		(203,088	)		(849,750	)		(927,108	)		(374,663	)		(450,099	)	$	(3,798,470	)
Loans payable, net of deferred financing costs and amortization	$	4,454,710		$	20,870,227		$	26,363,662		$	22,243,094		$	9,525,480		$	30,971,249		$	76,371,912		$	54,350,250		$	27,922,892		$	40,265,337		$	42,749,901		$	356,088,714

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 March 31, 2022:

Year	Amount
2022 (remaining)		—
2023		—
2024		47,850,000
2025		—
2026		—
Thereafter		331,037,184
Total	$	378,887,184