XML 65 R58.htm IDEA: XBRL DOCUMENT v3.25.2
Related Party Transactions - Summary of Related Party Costs (Detail) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Related Party Transaction [Line Items]          
Related party costs, Incurred $ 2,831,451 $ 2,765,425 $ 5,770,531 $ 5,694,139  
Related party costs, Payable 18,899,515   18,899,515   $ 13,877,191
Related Party          
Related Party Transaction [Line Items]          
Related party costs, Incurred     8,163,671   18,864,985
Related party costs, Paid     3,141,347   10,921,763
Related party costs, Payable 18,899,515   18,899,515   13,877,191
Operating Expenses (Including Organizational Costs) | Related Party          
Related Party Transaction [Line Items]          
Related party costs, Incurred     4,882,179   12,220,370
Related party costs, Paid     1,605,927   7,066,191
Related party costs, Payable 12,576,033   12,576,033   9,299,781
Asset Management Fees | Related Party          
Related Party Transaction [Line Items]          
Related party costs, Incurred     2,152,682   4,253,616
Related party costs, Paid     1,130,623   2,458,196
Related party costs, Payable 3,470,407   3,470,407   2,448,348
Property Management Fees | Related Party          
Related Party Transaction [Line Items]          
Related party costs, Incurred     916,278   1,688,524
Related party costs, Paid     404,797   798,536
Related party costs, Payable 1,662,170   1,662,170   1,150,689
Acquisition Expenses | Related Party          
Related Party Transaction [Line Items]          
Related party costs, Incurred [1]     212,532   589,216
Related party costs, Paid [1]         146,146
Related party costs, Payable [1] $ 1,190,905   $ 1,190,905   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.