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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (17,485,559) $ (13,573,833)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 8,225,768 6,068,341
Amortization of debt issuance costs 553,925 811,620
Stock based compensation expense related to issuance of restricted stock 16,140 9,684
Accretion of preferred equity costs   189,920
Unrealized derivative gain 174,001  
Derivative fair value adjustment (448,294) 104,453
Unrealized foreign currency adjustment 3,357,638 (598,510)
Changes in operating assets and liabilities:    
Other assets, net 745,672 (1,392,461)
Purchase of interest rate derivative (1,126,000) (1,878,000)
Accounts payable and accrued liabilities 510,133 1,265,754
Due to affiliates 7,747,400 266,515
Net cash provided by (used in) operating activities 2,270,824 (8,726,517)
Cash flows from investing activities:    
Purchase of real estate facilities   (250,502,233)
Additions to real estate facilities (4,477,240) (3,576,484)
Deposits on acquisitions of real estate facilities   (74,210)
Investment in company owned life insurance   (911,541)
Investments in unconsolidated real estate ventures (11,913,676) (2,810,299)
Net cash used in investing activities (16,390,916) (257,874,767)
Cash flows from financing activities:    
Proceeds from issuance of secured debt   179,324,261
Repayment of secured debt   (50,000,000)
Scheduled principal payments of secured debt (1,397,353) (545,444)
Prepaid debt issuance costs   (42,000)
Debt issuance costs   (1,415,112)
Gross proceeds from issuance of common stock 18,882,572 19,855,323
Offering costs (1,929,609) (1,929,766)
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)
Proceeds from issuance of Series C Units 637,242  
Redemption of common stock (903,578) (22,508)
Distributions paid to common stockholders (3,687,440) (2,910,055)
Distributions paid to noncontrolling interest in our Operating Partnership (170,591) (170,046)
Distributions paid to preferred stockholders (6,302,581)  
Distributions paid to preferred unitholders in our Operating Partnership   (271,250)
Net cash provided by financing activities 5,128,662 290,283,206
Impact of foreign exchange rate changes on cash and restricted cash (709,272) (549,047)
Net change in cash, cash equivalents and restricted cash (9,700,702) 23,132,875
Cash, cash equivalents and restricted cash, beginning of year 25,708,071 7,791,544
Cash, cash equivalents and restricted cash, end of year 16,007,369 30,924,419
Supplemental disclosures and non-cash transactions:    
Cash paid for interest, net of amounts capitalized 8,159,301 7,204,354
Real estate facilities in due to affiliates 104,614 2,567,640
Deposits applied to investments in unconsolidated real estate ventures 331,335  
Debt issuance costs in due to affiliates   150,000
Proceeds from issuance of common stock in accounts payable and accrued liabilities   (176,400)
Offering costs included in accounts payable and accrued liabilities 313,664 546,652
Interest rate swap contract in other assets 381,795 1,994,683
Interest rate swap contracts in accounts payable and accrued liabilities 110,168  
Issuance of shares pursuant to distribution reinvestment plan 2,713,405 2,053,882
Distributions payable to common and preferred stockholders 4,186,425 2,962,759
Distributions payable to noncontrolling interests in our Operating Partnership 27,953 28,030
Real estate and construction in process in accounts payable and accrued liabilities 1,814,907 1,001,124
Redemption of common stock in accounts payable and accrued liabilities $ 391,073 155,516
Deposits applied to acquisition of real estate   $ 220,000