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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ 8,147,216 $ (3,565,019)  
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization 1,831,010 2,816,344  
Amortization of debt issuance costs 95,081 123,340  
Stock based compensation expense related to issuance of restricted stock 2,966 5,648  
Loss on extinguishment of debt 1,985,602    
Gain on sale of real estate, net (12,101,937)    
Gain on equity method investment (573,430)    
Increase (decrease) in cash, cash equivalents, and restricted cash from changes in assets and liabilities:      
Other assets (47,251) 103,353  
Accounts payable and accrued liabilities 70,487 359,811  
Due to affiliates (253,503) 618,224  
Net cash (used in) provided by operating activities (843,759) 461,701  
Cash flows from investing activities:      
Additions to real estate (302,744) (197,370)  
Net proceeds from sale of real estate 47,753,131    
Distributions of capital from equity method investment 979,131    
Net cash provided by (used in) investing activities 48,429,518 (197,370)  
Cash flows from financing activities:      
Principal payments of KeyBank Bridge Loans (17,000,000)    
Repayment of Tallahassee Nationwide mortgage loan (23,500,000)    
Scheduled principal payments of mortgage loans (382,456) (123,180)  
Net cash used in financing activities (40,882,456) (123,180)  
Net change in cash, cash equivalents, and restricted cash 6,703,303 141,151  
Cash, cash equivalents, and restricted cash, beginning of period 9,884,580 9,452,993 $ 9,452,993
Cash, cash equivalents, and restricted cash, end of period 16,587,883 9,594,144 $ 9,884,580
Supplemental disclosures and non-cash transactions:      
Cash paid for interest 2,015,763 2,357,062  
Additions to real estate facilities and construction in process included in accounts payable and accrued liabilities 42,268 12,415  
Non cash transitions distributions payable to preferred unit holders in our operating partnership $ 301,981 $ 281,110