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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (35,578,067) $ (32,938,065) $ (14,380,083)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 15,800,554 14,979,398 6,590,960
Amortization of debt issuance costs 1,278,578 1,499,924 1,097,941
Stock based compensation expense related to issuance of restricted stock 38,094 25,814 22,595
Accretion of preferred equity costs   189,920  
Unrealized derivative gain (loss) (482,632) 90,825  
Derivative fair value adjustment 1,770,963 2,553,422  
Unrealized foreign currency adjustment 6,513,187 (528,949) 1,142,611
Changes in operating assets and liabilities:      
Other assets, net 530,680 (2,785,513) (1,035,249)
Purchase of interest rate derivative (2,913,815) (3,279,000)  
Purchase of foreign exchange derivative   (1,442,000)  
Accounts payable and accrued liabilities (599,126) 5,138,182 1,712,665
Due to affiliates 8,127,545 3,869,115 233,322
Net cash used in operating activities (5,514,039) (12,626,927) (4,615,238)
Cash flows from investing activities:      
Purchase of real estate facilities   (252,273,853) (188,181,815)
Additions to real estate facilities (10,388,088) (8,078,768) (1,453,968)
Deposits on acquisitions of real estate facilities and investments in unconsolidated real estate ventures   (148,220) (548,970)
Refund of deposits on acquisitions of real estate facilities 481,866    
Investment in company owned life insurance (902,063) (886,460)  
Investments in unconsolidated real estate ventures (17,702,419) (7,171,769) (499,202)
Return of capital on investments in unconsolidated real estate ventures 15,988,299    
Net cash used in investing activities (12,522,405) (268,559,070) (190,683,955)
Cash flows from financing activities:      
Proceeds from issuance of secured debt 8,000,000 179,324,261 140,603,502
Repayment of secured debt (4,764,241) (50,000,000) (30,608,851)
Scheduled principal payments of secured debt (4,160,385) (862,320) (123,981)
Prepaid debt issuance costs   (42,000) (58,000)
Debt issuance costs (480,950) (1,666,788) (1,481,549)
Gross proceeds from issuance of common stock 37,371,916 37,910,737 103,913,984
Offering costs (3,634,282) (4,387,423) (9,226,517)
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 1,220,331 3,197,083  
Redemption of common stock (1,860,904) (419,094)  
Distributions paid to common stockholders (7,626,356) (6,160,627) (3,667,288)
Distributions paid to noncontrolling interest in our Operating Partnership (341,104) (341,025) (313,722)
Distributions paid to preferred stockholders (12,530,766) (5,218,750)  
Distributions paid to preferred unitholders in our Operating Partnership   (271,250)  
Net cash provided by financing activities 11,193,259 299,472,607 199,037,578
Impact of foreign exchange rate changes on cash and restricted cash (1,299,322) (370,083) (527,600)
Net change in cash, cash equivalents and restricted cash (8,142,507) 17,916,527 3,210,785
Cash, cash equivalents and restricted cash, beginning of year 25,708,071 7,791,544 4,580,759
Cash, cash equivalents and restricted cash, end of year 17,565,564 25,708,071 7,791,544
Supplemental disclosures and non-cash transactions:      
Cash paid for interest, net of amounts capitalized 17,208,371 18,819,476 3,345,009
Distribution of common stock   6,586,579  
Offering costs included in accounts payable and accrued liabilities 588,163 661,400 1,107,528
Interest rate swap contract in other assets 467,719 145,375 126,864
Interest rate swap contracts in accounts payable and accrued liabilities 368,600 170,708  
Foreign currency hedge contract in other assets 1,281,151    
Foreign currency translation adjustment 4,808,321 (57,174) 191,438
Deposits applied to investments in unconsolidated real estate ventures 328,545    
Deposits on acquisition of real estate facilities in due to affiliates   333,495 751,460
Debt issuance costs in accounts payable and accrued liabilities     26,940
Proceeds from issuance of common stock in accounts payable and accrued liabilities     (211,000)
Issuance of shares pursuant to distribution reinvestment plan 5,736,254 4,391,918 2,544,690
Distributions payable to common and preferred stockholders 4,380,620 4,174,068 798,955
Distributions payable to noncontrolling interests in our Operating Partnership 28,885 28,964 28,964
Real estate and construction in process in accounts payable and accrued liabilities 1,658,865 913,229 $ 553,438
Redemption of common stock in accounts payable and accrued liabilities $ 442,933 118,691  
Unrealized derivative adjustment   576,497  
Deposits applied to acquisition of real estate   $ 1,076,020