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Self Administration Transaction (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combinations [Abstract] |
Summary of Relative Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the relative fair values of the assets acquired and liabilities assumed in the SST IV Merger:
Assets Acquired: |  |  |
Land |  | $ | 54,385,560 |
Buildings |  |  | 257,618,228 |
Site improvements |  |  | 12,340,848 |
Construction in progress |  |  | 1,467,090 |
Intangible assets |  |  | 20,052,449 |
Investments in real estate joint ventures |  |  | 17,495,254 |
Cash and cash equivalents, and restricted cash |  |  | 7,763,490 |
Other assets |  |  | 4,145,394 |
Total assets acquired |  | $ | 375,268,313 |
Liabilities assumed: |  |  |
Debt (1) |  | $ | 81,165,978 |
Accounts payable and other liabilities |  |  | 8,074,162 |
Total liabilities assumed |  | $ | 89,240,140 |
Total net assets acquired |  | $ | 286,028,173 |
(1) Debt assumed includes approximately $40.5 million of debt on the KeyBank SST IV CMBS Loan, a $0.1 million fair market value discount on such debt, and the approximately $40.8 million SST IV TCF Loan. See Note 5 – Debt for additional information.

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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