Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022, and December 31, 2021:

	Balance Sheet Location	March 31, 2022		December 31, 2021
Derivatives designated as hedging instruments:
Interest rate “pay-fixed” swap	Derivative assets, at fair value	$	3,709,924	$	—
Interest rate “pay-fixed” swap	Derivative liabilities, at fair value	$	—	$	157,709

Derivative Designated As Hedging Instrument [Member]

Summary of Interest Rate Derivatives

As of March 31, 2022 the Company had the following derivatives that were designated as cash flow hedges of interest rate risk:

	March 31, 2022
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.

	March 31, 2022
Interest Rate Derivative	Number of Instruments		Notional Amount
Interest Rate Cap		1	$	31,277,000