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Debt - Summary of Secured Debt (Detail) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Jul. 08, 2021
Line Of Credit Facility [Line Items]      
Total Debt $ 280,699,673 $ 286,484,421  
Huntington Credit Facility      
Line Of Credit Facility [Line Items]      
Total Debt $ 107,574,000 107,574,000  
Interest Rate [1] 7.95%    
Maturity Date Nov. 30, 2025    
Skymar Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 4,709,656 4,764,241  
Interest Rate 4.125% [2]   4.125%
Maturity Date Aug. 01, 2024   Aug. 01, 2024
National Bank of Canada | Burlington Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 11,217,195 11,823,653  
Interest Rate [3] 7.35%    
Maturity Date Sep. 20, 2025    
National Bank of Canada | Cambridge Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 10,520,318 11,348,205  
Interest Rate [4] 7.35%    
Maturity Date Dec. 20, 2025    
National Bank of Canada | North York Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 17,970,417 18,857,500  
Interest Rate [5] 7.50%    
Maturity Date Jan. 31, 2025    
National Bank of Canada | Ontario Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 92,673,256 95,946,960  
Interest Rate [6] 7.70%    
Maturity Date Jun. 15, 2025    
Bank of Montreal Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 15,807,875 16,311,738  
Interest Rate [7] 7.71%    
Maturity Date May 04, 2025    
First National Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 6,436,455 6,641,612  
Interest Rate [8] 8.85%    
Maturity Date Jun. 01, 2025    
SmartStop Bridge Loan      
Line Of Credit Facility [Line Items]      
Total Debt $ 15,000,000 15,000,000  
Interest Rate 9.33%    
Maturity Date Dec. 31, 2025    
Secured Debt      
Line Of Credit Facility [Line Items]      
Total Debt $ 4,709,656 4,764,241  
Debt issuance costs, net $ (1,209,499) $ (1,783,488)  
[1] This variable rate loan encumbers 12 properties (Phoenix I, Phoenix II, Surprise, Bradenton, Apopka, Vancouver WA, Portland, Newark, Levittown, Chandler, St. Johns and Oxford). We entered into interest rate swap agreements and an interest rate cap that fixes SOFR at 2.12% until the maturity of the loan.
[2] On August 1, 2024, the Skymar Loan was repaid and terminated in accordance with the loan agreement without fees or penalties.
[3] This variable rate loan encumbers our Burlington, ONT property and the amount shown above is in USD based on the foreign exchange rate in effect as of June 30, 2024 and December 31, 2023, respectively. We entered into an interest rate swap agreement that fixes Canadian Overnight Repo Rate Average ("CORRA") at 4.02% until the maturity of the loan.
[4] This variable rate loan encumbers our Cambridge, ONT property and the amount shown above is in USD based on the foreign exchange rate in effect as of June 30, 2024 and December 31, 2023, respectively. We entered into an interest rate swap agreement that fixes CORRA at 3.83% until the maturity of the loan.
[5] This variable rate loan encumbers our North York, ONT property and the amount shown above is in USD based on the foreign exchange rate in effect as of June 30, 2024 and December 31, 2023, respectively. We entered into an interest rate swap agreement that fixes CORRA at 3.79% until the maturity of the loan.
[6] This variable rate loan encumbers our Ontario Portfolio and the amount shown above is in USD based on the foreign exchange rate in effect as of June 30, 2024 and December 31, 2023, respectively. We entered into an interest rate swap agreement that fixes CORRA at 4.73% until the maturity of the loan.
[7] This variable rate loan encumbers our Vancouver, BC property and the amount shown above is in USD based on the foreign exchange rate in effect as of June 30, 2024 and December 31, 2023, respectively. We entered into an interest rate swap agreement that fixes CDOR at 4.47% until the maturity of the loan.
[8] This variable rate loan encumbers our Edmonton, AB property and the amount shown above is in USD based on the foreign exchange rate in effect as of June 30, 2024 and December 31, 2023, respectively.