Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivative Financial Instruments

The following table summarizes the terms of our derivative financial instruments as of March 31, 2026:

	Notional Amount		Strike			Effective Date	Maturity Date
Interest Rate Derivatives:
CORRA Swap - Four Property Loan(1)	$	62,688,798		3.03	%	January 9, 2025	January 10, 2028
SOFR Swap - Huntington Credit Facility(2)	$	86,520,367		1.54	%	March 2, 2026	November 30, 2027

(1)Notional amount is denominated in CAD and has been designated as a cash flow hedge.

(2)Notional amount is denominated in USD and has been designated as a cash flow hedge.

The following table summarizes the terms of our derivative financial instruments as of December 31, 2025:

	Notional Amount		Strike			Effective Date	Maturity Date
Interest Rate Derivatives:
CORRA Swap - Four Property Loan(1)	$	63,011,768		3.03	%	January 9, 2025	January 10, 2028
SOFR Swap - Huntington Credit Facility(2)	$	86,937,660		2.29	%	December 1, 2025	November 30, 2027

(1)Notional amount is denominated in CAD and has been designated as a cash flow hedge.

(2)Notional amount is denominated in USD and has been designated as a cash flow hedge.

Summary of Derivatives Financial Instruments in Statement of Consolidated Balance Sheet

The following table presents a gross presentation of the fair value of our derivatives financial instruments as well as their classification on our consolidated balance sheets as of March 31, 2026 and December 31, 2025:

	Asset/Liability Derivatives Fair Value
	March 31, 2026		December 31, 2025
Interest Rate Hedges:
Other assets	$	2,842,020	$	1,563,065
Accounts payable and accrued liabilities	$	270,160	$	496,702

Summary of Effects of Derivative Financial Instruments on Consolidated Statements of Operations

The following table presents the effects of our derivative financial instruments on our consolidated statements of operations for the periods presented:

	Gain (loss) recognized in OCI for the three months ended March 31,					Location of amounts reclassified from OCI into income	Gain (loss) reclassified from OCI for the three months ended March 31,					Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative for the three months ended March 31,
Type	2026		2025				2026			2025			2026		2025
Interest Rate Swaps	$	652,292	$	(1,348,615	)	Interest Expense	$	(162,037	)	$	2,474	Interest Expense	$	—	$	(291,024	)
Interest Rate Caps		—		—		Interest Expense		—			74,923	Interest Expense		—		110,805
Foreign Currency Put		—		(155,256	)	N/A		—			—	N/A		—		—
	$	652,292	$	(1,503,871	)		$	(162,037	)	$	77,397		$	—	$	(180,219	)