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Derivative Instruments - Summary of Derivative Financial Instruments Consolidated Statements of Operations - Discontinued Operations (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Derivative [Line Items]        
Interest expense [1] $ 426,318 $ 933,517 $ 2,502,015 $ 2,722,194
Loss on extinguishment of debt (286,719)   (286,719)  
Loss on Extinguishment of Debt [Member]        
Derivative [Line Items]        
Loss on extinguishment of debt [2] $ (37,216)   (37,216)  
Interest Rate Cap [Member] | Interest Expense [Member]        
Derivative [Line Items]        
Interest expense     $ 84,063  
[1] Includes interest expense related to the Fayetteville JPM Mortgage Loan, which was repaid in April 2024 in connection with the Fayetteville Mortgage Loan refinance, the Fayetteville Mortgage Loan and the KeyBank Bridge Loan that were required to be repaid according to the terms of such loans, in conjunction with the sale of the Fayetteville property.
[2] The interest rate cap was terminated on July 31, 2024, in conjunction with the sale of the Fayetteville property. The loss incurred on the sale of the interest rate cap was recorded in the statement of discontinued operations as part of “loss on extinguishment of debt”.