Secured Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Summary of Secured Debt

The Company’s secured debt is summarized as follows:

Secured Debt	March 31, 2022			December 31, 2021			Interest Rate			Maturity Date
Huntington Credit Facility	$	37,062,500		$	37,062,500			3.25	%	11/30/2024
Skymar Las Vegas Loan		4,800,000			4,800,000			4.125	%	8/1/2024
SmartStop Delayed Draw Mezzanine Loan		6,800,000			6,800,000			3.34	%	12/30/2022
Debt issuance costs, net		(720,128	)		(805,642	)
Total Secured Debt	$	47,942,372		$	47,856,858

Schedule of Secured Debt Future Principal Payments

The following table presents the future principal payment requirements on our outstanding secured debt as of March 31, 2022:

2022	$	6,800,000
2023		—
2024		41,862,500
Thereafter		—
Total payments		48,662,500
Debt issuance costs, net		(720,128	)
Total	$	47,942,372