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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (13,573,833) $ (5,333,785)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 6,068,341 2,295,116
Amortization of debt issuance costs 811,620 587,688
Stock based compensation expense related to issuance of restricted stock 9,684 12,912
Accretion of preferred equity costs 189,920  
Derivative fair value adjustment 104,453  
Unrealized foreign currency adjustment (598,510) 163,835
Changes in operating assets and liabilities:    
Other assets, net (1,392,461) (217,628)
Purchase of interest rate cap (1,878,000)  
Accounts payable and accrued liabilities 1,265,754 750,254
Due to affiliates 266,515 (194,024)
Net cash used in operating activities (8,726,517) (1,935,632)
Cash flows from investing activities:    
Purchase of real estate facilities (250,502,233) (107,891,695)
Additions to real estate facilities (3,576,484) (293,960)
Deposits on acquisitions of real estate facilities (74,210) (160,000)
Investment in company owned life insurance (911,541)  
Investments in unconsolidated real estate ventures (2,810,299) (259,972)
Net cash used in investing activities (257,874,767) (108,605,627)
Cash flows from financing activities:    
Proceeds from issuance of secured debt 179,324,261 88,637,702
Repayment of secured debt (50,000,000) (30,608,851)
Scheduled principal payments of secured debt (545,444)  
Prepaid debt issuance costs (42,000)  
Debt issuance costs (1,415,112) (1,100,911)
Gross proceeds from issuance of common stock 19,855,323 67,831,027
Offering costs (1,929,766) (6,193,648)
Proceeds from issuance of preferred equity in our Operating Partnership 15,000,000  
Redemption of preferred equity in our Operating Partnership (15,000,000)  
Preferred equity in our Operating Partnership issuance costs (189,920)  
Gross proceeds from issuance of preferred stock 150,000,000  
Preferred stock issuance costs (1,400,277)  
Redemption of common stock (22,508)  
Distributions paid to common stockholders (2,910,055) (1,279,865)
Distributions paid to noncontrolling interest in our Operating Partnership (170,046) (146,383)
Distributions paid to preferred unitholders in our Operating Partnership (271,250)  
Net cash provided by financing activities 290,283,206 117,139,071
Impact of foreign exchange rate changes on cash and restricted cash (549,047)  
Net change in cash, cash equivalents and restricted cash 23,132,875 6,597,812
Cash, cash equivalents and restricted cash, beginning of period 7,791,544 4,580,759
Cash, cash equivalents and restricted cash, end of period 30,924,419 11,178,571
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 7,204,354 839,672
Real estate facilities in due to affiliates 2,567,640  
Real estate facilities in accounts payable and accrued liabilities 60,000  
Real estate and construction in process in accounts payable and accrued liabilities 941,124  
Debt issuance costs in due to affiliates 150,000  
Debt issuance costs in accounts payable and accrued liabilities 49,082  
Proceeds from issuance of common stock in accounts payable and accrued liabilities (176,400) (1,124,000)
Offering costs included in accounts payable and accrued liabilities 546,652 466,781
Interest rate swap contracts in other assets 1,994,683  
Foreign currency translation adjustment 312,946  
Issuance of shares pursuant to distribution reinvestment plan 2,053,882 889,649
Distributions payable to common stockholders 875,259 561,217
Distributions payable to noncontrolling interests in our Operating Partnership 28,030 $ 27,134
Distributions payable to Preferred stockholders 2,087,500  
Redemption of common stock in accounts payable and accrued liabilities 155,516  
Deposits applied to acquisition of real estate $ 220,000