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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (2,222,663) $ (2,480,250)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 1,677,835 1,786,268
Amortization of debt issuance costs 81,877 80,214
Stock based compensation expense related to issuance of restricted stock 3,900 2,835
Increase (decrease) in cash, cash equivalents, and restricted cash from changes in assets and liabilities:    
Other assets (81,162) 145,717
Accounts payable and accrued liabilities 251,350 426,549
Due to affiliates 805,290 432,759
Net cash provided by operating activities 516,427 394,092
Cash flows from investing activities:    
Additions to real estate (331,663) (1,446,117)
Net cash used in investing activities (331,663) (1,446,117)
Cash flows from financing activities:    
Principal payments of KeyBank Bridge Loans (150,000) (150,000)
Scheduled principal payments of mortgage loans (435,073) (428,845)
Debt issuance costs (169,866)  
Net cash used in financing activities (754,939) (578,845)
Net change in cash, cash equivalents, and restricted cash (570,175) (1,630,870)
Cash, cash equivalents, and restricted cash, beginning of period 8,288,459 12,544,609
Cash, cash equivalents, and restricted cash, end of period 7,718,284 10,913,739
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 2,252,820 2,203,447
Additions to real estate facilities and construction in process included in accounts payable and accrued liabilities   135,989
Debt issuance costs in accounts payable and accrued liabilities 48,736  
Distributions payable to preferred unit holders in our Operating Partnership $ 347,582 $ 322,853