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Real Estate Facilities (Tables)
12 Months Ended
Dec. 31, 2023
Real Estate [Abstract]  
Summary of Activity in Real Estate Facilities

The following summarizes the activity in the real estate facilities, excluding construction in process, during the years ended December 31, 2023 and 2022:

 

Real estate facilities

 

 

 

Balance at December 31, 2021

 

$

226,034,316

 

Additions - Student

 

 

211,583

 

Additions - Senior

 

 

1,760,655

 

Balance at December 31, 2022

 

 

228,006,554

 

Additions - Student

 

 

506,733

 

Additions - Senior

 

 

3,479,545

 

Balance at December 31, 2023

 

$

231,992,832

 

 

 

 

 

Accumulated depreciation

 

 

 

Balance at December 31, 2021

 

$

(26,070,030

)

Depreciation expense

 

 

(7,415,888

)

Balance at December 31, 2022

 

 

(33,485,918

)

Depreciation expense

 

 

(7,070,186

)

Balance at December 31, 2023

 

$

(40,556,104

)