XML 65 R58.htm IDEA: XBRL DOCUMENT v3.25.1
Related Party Transactions - Summary of Related Party Costs (Detail) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Related Party Transaction [Line Items]      
Related party costs, Incurred $ 2,939,080 $ 2,928,714  
Related party costs, Payable 16,859,809   $ 13,877,191
Related Party      
Related Party Transaction [Line Items]      
Related party costs, Incurred 4,174,296   18,864,985
Related party costs, Paid 1,191,678   10,921,763
Related party costs, Payable 16,859,809   13,877,191
Operating Expenses (Including Organizational Costs) | Related Party      
Related Party Transaction [Line Items]      
Related party costs, Incurred 2,585,735   12,220,370
Related party costs, Paid 671,088   7,066,191
Related party costs, Payable 11,214,428   9,299,781
Asset Management Fees | Related Party      
Related Party Transaction [Line Items]      
Related party costs, Incurred 1,035,252   4,253,616
Related party costs, Paid 391,581   2,458,196
Related party costs, Payable 3,092,019   2,448,348
Property Management Fees | Related Party      
Related Party Transaction [Line Items]      
Related party costs, Incurred 445,433   1,688,524
Related party costs, Paid 129,009   798,536
Related party costs, Payable 1,467,113   1,150,689
Acquisition Expenses | Related Party      
Related Party Transaction [Line Items]      
Related party costs, Incurred [1] 107,876   589,216
Related party costs, Paid [1]     146,146
Related party costs, Payable [1] $ 1,086,249   978,373
Acquisition Related | Related Party      
Related Party Transaction [Line Items]      
Related party costs, Incurred [2]     113,259
Related party costs, Paid [2]     $ 452,694
[1] Amounts include third party acquisition expenses paid by our Sponsor and reimbursed by the Company.
[2] Amounts include acquisition fees paid to our Sponsor and third party earnest money deposits paid by our Sponsor and reimbursed by the Company.