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Derivative Instruments (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
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 June 30, 2026:
 
    
Notional
Amount
     
Strike
    
Effective
Date
     
Maturity
Date
  
Interest Rate Derivatives:
           
CORRA Swap — Four Property Loan
(1)
    $ 62,370,975        3.03 %      January 9, 2025        January 10, 2028  
SOFR Swap — Huntington Credit Facility
(2)
    $ 86,103,075        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 was denominated in USD, was designated as a cash flow hedge and was terminated during the first quarter of 2026.
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.
The following table summarizes the terms of our derivative financial instruments as of December 31, 2024:
 
   
Notional
Amount
    
Strike
    
Effective
Date
    
Maturity
Date
  
Interest Rate Derivatives:
        
CORRA Swap – Burlington Loan
(1)
   $ 15,015,000       4.02 %      September 27, 2022       September 20, 2025
(5)
 
CORRA Swap – Cambridge Loan
(1)
   $ 13,891,404       3.53 %      April 30, 2024       December 22, 2025
(5)
 
CORRA Swap – North York Loan
(1)
   $ 24,083,333       3.79 %      January 31, 2023       February 2, 2026
(5)
 
SOFR Swap – Huntington Credit Facility
(2)
   $ 107,574,000       2.89 %      November 15, 2024       November 30, 2027  
CDOR Swap – Bank of Montreal Loan 
(1)
   $ 21,625,000       4.47 %      May 4, 2023       May 4, 2026
(5)
 
CORRA Swap – Ontario Loan
(3)
   $ 124,232,000       4.73 %      June 15, 2023       June 15, 2026
(5)
 
Foreign Currency Hedge:
        
CAD Put
(4)
   $ 200,000,000       1.4005       December 20, 2024       December 19, 2025  
 
(1)
Notional amounts are denominated in CAD and were designated as a cash flow hedge.
(2)
Notional amount is denominated in USD and approximately $87.1 million was designated as a cash flow hedge.
(3)
Notional amount is denominated in CAD and we elected not to apply hedge accounting.
(4)
Notional amount is denominated in CAD and was partially designated for hedge accounting.
(5)
These interest rate derivatives were terminated during the first quarter of 2025.
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 June 30, 2026 and December 
31
, 2025:
 
    
Asset/Liability Derivatives
Fair Value
  
    
June 30,
2026
     
December 31,
2025
  
Interest Rate Hedges:
      
Other assets
    $ 2,847,001      $ 1,563,065  
Accounts payable and accrued liabilities
    $ 312,339      $ 496,702  
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 December 31, 2025 and 2024:
 
    
Asset/Liability Derivatives
Fair Value
  
    
December 31,
2025
     
December 31,
2024
  
Interest Rate Hedges:
      
Other assets
    $ 1,563,065      $ 3,219,413  
Accounts payable and accrued liabilities
    $ 496,702      $ 2,448,275  
Foreign Currency Hedges:
      
Other assets
    $ —       $ 4,409,134  
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
June 30,
    
Location of amounts
reclassified from
OCI into income
     
Gain (loss) reclassified
from OCI for the three
months ended June 30,
  
Type
   
2026
     
2025
     
2026
    
2025
  
Interest Rate Swaps
    $ 336,373      $ (110,434 )      Interest Expense      $ (155,340 )    $ 2,519  
Interest Rate Caps
      —         —        Interest Expense        —        49,516  
Foreign Currency Put
      —         (1,034,818 )      N/A        —        —   
  
 
 
     
 
 
       
 
 
    
 
 
  
  
$
336,373
 
   
$
(1,145,252
) 
     
$
(155,340
) 
  
$
52,035
 
  
 
 
     
 
 
       
 
 
    
 
 
  
 
   
Gain (loss) recognized in
OCI for
the six months ended
June 30,
    
Location of
amounts
reclassified
from
OCI into
income
    
Gain (loss) reclassified
from OCI for the six
months ended June 30,
    
Location of
Gain or
(Loss)
Recognized
in Income
on Derivative
     
Amount of Gain or
(Loss) Recognized in
Income on
Derivative for the
six months ended
June 30,
  
Type
  
2026
    
2025
    
2026
    
2025
     
2026
     
2025
  
Interest Rate Swaps
   $ 990,149     $ (1,477,659 )      Interest
Expense		  
 		   $ (315,893 )    $ 1,340       Interest
Expense		  
 		    $ —       $ (305,981 ) 
Interest Rate Caps
     —        —        Interest
Expense		  
 		     —        124,439       Interest
Expense		  
 		      —         110,805  
Foreign Currency Put
     —        (1,190,074 )      N/A       —        —        N/A        —         —   
 
 
 
    
 
 
      
 
 
    
 
 
       
 
 
     
 
 
  
 
$
990,149
 
  
$
(2,667,733
) 
    
$
(315,893
) 
  
$
125,779
 
     
$
— 
 
   
$
(195,176
) 
 
 
 
    
 
 
      
 
 
    
 
 
       
 
 
     
 
 
  
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 year ended
December 31,
    
Location
of
amounts
reclassified
from
OCI into
income
    
Gain (loss) reclassified
from OCI for the year
ended December 31,
    
Location of
Gain or
(Loss)
Recognized
in Income
on
Derivative
    
Amount of Gain or
(Loss) Recognized in
Income on Derivative
  
Type
  
2025
    
2024
    
 
    
2025
    
2024
    
 
    
2025
    
2024
  
Interest Rate Swaps
   $ (1,298,093 )    $ 285,991       Interest
Expense		  
 		   $ (96,042 )    $ 1,230,229       Interest
Expense		  
 		   $ (304,727 )    $ 2,526  
Interest Rate Caps
     —        —        Interest
Expense		  
 		     206,604       349,914       Interest
Expense		  
 		     110,805       —   
Foreign Currency Put
     (1,362,363 )      1,106,438       N/A       —        —        N/A       —        —   
 
 
 
    
 
 
      
 
 
    
 
 
      
 
 
    
 
 
  
 
$
(2,660,456
) 
  
$
1,392,429
 
    
$
110,562
 
  
$
1,580,143
 
    
$
(193,922
) 
  
$
2,526