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Real Estate Facilities - Summary of Purchase Price Allocations for Acquisitions (Detail)
3 Months Ended
Mar. 31, 2023
USD ($)
Business Acquisition [Line Items]  
Real Estate Assets $ 53,645,873
Intangibles 683,286
Total 54,329,159 [1]
Revenue 192,002 [2]
Property Operating Income/(Loss) $ 16,836 [2],[3]
AB | Edmonton  
Business Acquisition [Line Items]  
Acquisition Date Jan. 31, 2023
Real Estate Assets $ 11,198,071
Intangibles 140,100
Total 11,338,171 [1]
Revenue 38,828 [2]
Property Operating Income/(Loss) $ (14,258) [2],[3]
ONT | North York  
Business Acquisition [Line Items]  
Acquisition Date Jan. 31, 2023
Real Estate Assets $ 39,306,884
Intangibles 543,186
Total 39,850,070 [1]
Revenue 153,174 [2]
Property Operating Income/(Loss) $ 31,094 [2],[3]
ONT | Etobicoke land  
Business Acquisition [Line Items]  
Acquisition Date Mar. 27, 2023 [4]
Real Estate Assets $ 1,749,931 [4]
Total $ 1,749,931 [1],[4]
FL | Bradenton land  
Business Acquisition [Line Items]  
Acquisition Date Feb. 16, 2023 [5]
Real Estate Assets $ 1,390,987 [5]
Total $ 1,390,987 [1],[5]
[1] The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid for the transaction, including capitalized acquisition costs.
[2] The operating results of the facilities acquired above have been included in our consolidated statements of operations since their respective acquisition date.
[3] Property operating income/(loss) excludes corporate general and administrative expenses, asset management fees, depreciation, amortization, and acquisition expenses.
[4] The Etobicoke land is an undeveloped parcel of land in Etobicoke, Ontario Canada. We intend to develop the Etobicoke land into a self storage facility. Estimated development costs are approximately CAD $20.2 million, which we expect to fund with a combination of net proceeds from our primary offering and/or potential future debt financing.
[5] The Bradenton land is an undeveloped parcel of land adjacent to our property in Bradenton, Florida. We intend to expand our current self storage facility on the Bradenton land. Estimated development costs are approximately $4.9 million, which we expect to fund with a combination of net proceeds from our primary offering and/or potential future debt financing.