Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2023

Related Party Transactions [Abstract]

Summary of Related Party Costs

Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the year ended December 31, 2022 and the three months ended March 31, 2023, as well as any related amounts payable as of December 31, 2022 and March 31, 2023:

	Year Ended December 31, 2022						Three Months Ended March 31, 2023
	Incurred		Paid		Payable		Incurred		Paid		Payable
Expensed:
Operating expenses (including organizational costs)	$	453,432	$	453,432	$	—	$	136,589	$	136,589	$	—
Transfer Agent expenses		103,782		103,782		—		30,306		30,306		—
Asset management fees		1,942,698		1,033,266		8,833,418		485,721		183,105		9,136,034
Property management oversight fees		493,956		—		2,103,788		130,143		—		2,233,931
Disposition fee		250,000		250,000		—		—		—		—
Capitalized:
Acquisition expenses - Affiliates		—		—		1,980,000		—		—		1,980,000
Additional Paid-In Capital:
Offering costs		—		—		166,881		—		—		166,881
Total	$	3,243,868	$	1,840,480	$	13,084,087	$	782,759	$	350,000	$	13,516,846