Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023, and 2022:

	Three Months Ended June 30,
	Student Housing		Senior Housing		Corporate and Other		Total
	2023	2022	2023	2022	2023	2022	2023	2022
Leasing and leasing related revenues	$1,186,238	$1,055,296	$7,934,945	$7,293,605	$—	$—	$9,121,183	$8,348,901
Other revenues	—	—	120,172	207,812	—	—	120,172	207,812
Property operating expenses	(595,807)	(535,597)	(5,714,029)	(5,276,026)	—	—	(6,309,836)	(5,811,623)
Net operating income	590,431	519,699	2,341,088	2,225,391	—	—	2,931,519	2,745,090
Property operating expenses - affiliates	123,593	122,442	495,027	486,074	—	—	618,620	608,516
General and administrative	—	—	—	—	748,887	405,756	748,887	405,756
Depreciation	344,741	457,378	1,398,651	1,382,986	4,105	3,880	1,747,497	1,844,244
Interest expense	309,750	309,750	1,933,745	1,680,395	—	—	2,243,495	1,990,145
Interest expense – debt issuance costs	14,140	14,139	66,074	80,943	—	—	80,214	95,082
Other income (loss)	—	—	—	251	(58,861)	(12,252)	(58,861)	(12,001)
Net income (loss)	$(201,793)	$(384,010)	$(1,552,409)	$(1,405,258)	$(694,131)	$(397,384)	$(2,448,333)	$(2,186,652)
	Six Months Ended June 30,
	Student Housing		Senior Housing		Corporate and Other		Total
	2023	2022	2023	2022	2023	2022	2023	2022
Leasing and leasing related revenues	$2,403,189	$2,253,206	$15,602,866	$14,087,051	$—	$—	$18,006,055	$16,340,257
Other revenues	—	—	336,096	372,928	—	—	336,096	372,928
Property operating expenses	(1,246,210)	(1,163,505)	(11,452,572)	(10,489,220)	—	—	(12,698,782)	(11,652,725)
Net operating income	1,156,979	1,089,701	4,486,390	3,970,759	—	—	5,643,369	5,060,460
Property operating expenses - affiliates	247,689	244,823	986,795	964,052	—	—	1,234,484	1,208,875
General and administrative	—	—	—	—	1,250,637	779,757	1,250,637	779,757
Depreciation	688,981	913,125	2,835,322	2,754,369	9,462	7,759	3,533,765	3,675,253
Interest expense	619,500	619,501	3,832,945	3,324,152	—	—	4,452,445	3,943,653
Interest expense – debt issuance costs	28,280	28,278	132,148	161,885	—	—	160,428	190,163
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)	—	—	(446)	331	(59,362)	(581,800)	(59,808)	(581,469)
Net income (loss)	$(427,471)	$9,400,309	$(3,300,374)	$(3,234,030)	$(1,200,737)	$(205,716)	$(4,928,582)	$5,960,563

Summary of Total Assets by Segment

The following table summarizes our total assets by segment:

Segments	June 30, 2023		December 31, 2022
Student housing	$	45,002,121	$	45,184,980
Senior housing		153,959,234		155,404,239
Corporate and Other		6,866,607		9,864,879
Total assets	$	205,827,962	$	210,454,098