Segment Disclosures (Tables)

6 Months Ended

Jun. 30, 2021

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, 2021 and 2020:

	Three Months Ended June 30,
	Student Housing						Senior Housing						Corporate and Other						Total
	2021			2020			2021			2020			2021			2020			2021			2020
Leasing and leasing related revenues	$	1,957,132		$	1,721,032		$	6,433,608		$	6,634,422		$	—		$	—		$	8,390,740		$	8,355,454
Other revenues	—			—				107,344			39,322		—			—				107,344			39,322
Property operating expenses		(897,193	)		(897,294	)		(4,707,198	)		(4,740,521	)	—			—				(5,604,391	)		(5,637,815	)
Net operating income		1,059,939			823,738			1,833,754			1,933,223			—			—			2,893,693			2,756,961
Property operating expenses - affiliates		234,675			236,167			471,782			473,666		—			—				706,457			709,833
General and administrative	—			—			—			—				323,614			364,014			323,614			364,014
Depreciation		843,815			833,317			1,352,016			1,318,238			4,925			3,597			2,200,756			2,155,152
Intangible amortization expense		—			—			-			954,900		—			—				-			954,900
Interest expense		535,350			535,350			1,843,529			1,885,484		—			—				2,378,879			2,420,834
Interest expense – debt issuance costs		26,496			26,496			91,458			115,671		—			—				117,954			142,167
Forgiveness of PPP Loans	—			—				(1,971,157	)	—			—			—				(1,971,157	)	—
Other	—			—			—			—				41,693			(1,808	)		41,693			(1,808	)
Net income (loss)	$	(580,397	)	$	(807,592	)	$	46,126		$	(2,814,736	)	$	(370,232	)	$	(365,803	)	$	(904,503	)	$	(3,988,131	)
	Six Months Ended June 30,
	Student Housing						Senior Housing						Corporate and Other						Total
	2021			2020			2021			2020			2021			2020			2021			2020
Leasing and leasing related revenues	$	3,978,619		$	3,555,503		$	12,616,801		$	13,364,021		$	—		$	—		$	16,595,420		$	16,919,524
Other revenues	—			—				146,424			208,851		—			—				146,424			208,851
Property operating expenses		(1,895,578	)		(1,852,748	)		(9,185,355	)		(9,304,815	)	—			—				(11,080,933	)		(11,157,563	)
Net operating income		2,083,041			1,702,755			3,577,870			4,268,057			—			—			5,660,911			5,970,812
Property operating expenses - affiliates		470,476			473,265			938,773			950,820		—			—				1,409,249			1,424,085
General and administrative	—			—			—			—				630,811			829,491			630,811			829,491
Depreciation		1,685,903			1,665,882			2,697,539			2,639,687			7,326			7,193			4,390,768			4,312,762
Intangible amortization expense		—			—			626,332			1,909,800		—				—			626,332			1,909,800
Interest expense		1,070,700			1,070,700			3,669,338			3,911,521		—			—				4,740,038			4,982,221
Interest expense – debt issuance costs		52,992			52,992			188,302			209,126		—			—				241,294			262,118
Forgiveness of PPP Loans	—			—				(1,971,157	)	—			—			—				(1,971,157	)		-
Other		—			—			—			370			63,099			50,832			63,099			51,202
Net loss	$	(1,197,030	)	$	(1,560,084	)	$	(2,571,257	)	$	(5,353,267	)	$	(701,236	)	$	(887,516	)	$	(4,469,523	)	$	(7,800,867	)

Summary of Total Assets by Segment

The following table summarizes our total assets by segment:

Segments	June 30, 2021		December 31, 2020
Student housing	$	87,860,431	$	88,740,898
Senior housing		159,811,081		162,477,624
Corporate and Other		7,163,782		8,321,205
Total assets	$	254,835,294	$	259,539,727