Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Summary of Reportable Segments

The following tables summarize information for the reportable segments for the three and six months ended June 30, 2022, and 2021:

	Three Months Ended June 30,
	Student Housing		Senior Housing		Corporate and Other		Total
	2022	2021	2022	2021	2022	2021	2022	2021
Leasing and leasing related revenues	$1,055,296	$1,957,132	$7,293,605	$6,433,608	$—	$—	$8,348,901	$8,390,740
Other revenues	—	—	207,812	107,344	—	—	207,812	107,344
Property operating expenses	(535,597)	(897,193)	(5,276,026)	(4,707,198)	—	—	(5,811,623)	(5,604,391)
Net operating income	519,699	1,059,939	2,225,391	1,833,754	—	—	2,745,090	2,893,693
Property operating expenses - affiliates	122,442	234,675	486,074	471,782	—	—	608,516	706,457
General and administrative	—	—	—	—	405,756	323,614	405,756	323,614
Depreciation	457,378	843,815	1,382,986	1,352,016	3,880	4,925	1,844,244	2,200,756
Interest expense	309,750	535,350	1,680,395	1,843,529	—	—	1,990,145	2,378,879
Interest expense – debt issuance costs	14,139	26,496	80,943	91,458	—	—	95,082	117,954
Forgiveness of PPP Loans	—	—	—	(1,971,157)	—	—	—	(1,971,157)
Other income (loss)	—	—	251	—	(12,252)	41,693	(12,001)	41,693
Net income (loss)	$(384,010)	$(580,397)	$(1,405,258)	$46,126	$(397,384)	$(370,232)	$(2,186,652)	$(904,503)
	Six Months Ended June 30,
	Student Housing		Senior Housing		Corporate and Other		Total
	2022	2021	2022	2021	2022	2021	2022	2021
Leasing and leasing related revenues	$2,253,206	$3,978,619	$14,087,051	$12,616,801	$—	$—	$16,340,257	$16,595,420
Other revenues	—	—	372,928	146,424	—	—	372,928	146,424
Property operating expenses	(1,163,505)	(1,895,578)	(10,489,220)	(9,185,355)	—	—	(11,652,725)	(11,080,933)
Net operating income	1,089,701	2,083,041	3,970,759	3,577,870	—	—	5,060,460	5,660,911
Property operating expenses - affiliates	244,823	470,476	964,052	938,773	—	—	1,208,875	1,409,249
General and administrative	—	—	—	—	779,757	630,811	779,757	630,811
Depreciation	913,125	1,685,903	2,754,369	2,697,539	7,759	7,326	3,675,253	4,390,768
Intangible amortization expense	—	—	—	626,332	—	—	—	626,332
Interest expense	619,501	1,070,700	3,324,152	3,669,338	—	—	3,943,653	4,740,038
Interest expense – debt issuance costs	28,278	52,992	161,885	188,302	—	—	190,163	241,294
Forgiveness of PPP Loans	—	—	—	(1,971,157)	—	—	—	(1,971,157)
Loss on extinguishment of debt	1,985,602	—	—	—	—	—	1,985,602	—
Gain on sale of real estate, net	(12,101,937)	—	—	—	—	—	(12,101,937)	—
Other income (loss)	-	—	331	—	(581,800)	63,099	(581,469)	63,099
Net income (loss)	$9,400,309	$(1,197,030)	$(3,234,030)	$(2,571,257)	$(205,716)	$(701,236)	$5,960,563	$(4,469,523)

Summary of Total Assets by Segment

The following table summarizes our total assets by segment:

Segments	June 30, 2022		December 31, 2021
Student housing	$	46,417,610	$	85,907,495
Senior housing		156,301,190		156,861,266
Corporate and Other		12,908,682		7,551,836
Total assets	$	215,627,482	$	250,320,597