XML 71 R61.htm IDEA: XBRL DOCUMENT v3.23.1
Segment Disclosures - Summary of Reportable Segments (Detail) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Total revenues $ 57,135,265 $ 47,983,861
Operating expenses:    
General and administrative 6,536,626 5,837,647
Depreciation 13,272,271 11,107,986
Intangible amortization expense 1,919,705 3,900,884
Acquisition expenses 31,190 417,774
Contingent earnout expense 0  
Contingent earnout adjustment 0 513,821
Total operating expenses 40,234,390 36,416,275
Income from operations 16,900,875 11,567,586
Other income (expense):    
Other, net 750,978 (28,627)
Interest expense (14,703,897) (7,575,784)
Income tax (expense) benefit (277,220) (321,128)
Net income 2,032,600 3,269,459
Self Storage Rental Revenue    
Revenues:    
Total revenues 51,276,898 43,056,872
Ancillary Operating Revenue    
Revenues:    
Total revenues 2,190,622 1,974,320
Managed REIT Platform Revenue    
Revenues:    
Total revenues 2,276,535 1,809,096
Reimbursable Costs from Managed REITs    
Revenues:    
Total revenues 1,391,210 1,143,573
Operating expenses:    
Operating expenses 1,391,210 1,143,573
Property Operating Expenses    
Operating expenses:    
Operating expenses 16,533,452 13,105,325
Managed REIT Platform Expenses    
Operating expenses:    
Operating expenses 549,936 389,265
Managed REITS    
Other income (expense):    
Equity in earnings (losses) from investments (233,025) (139,294)
JV Properties    
Other income (expense):    
Equity in earnings (losses) from investments (405,111) (233,294)
Self Storage    
Revenues:    
Total revenues 53,467,520 45,031,192
Operating expenses:    
Depreciation 13,085,836 10,878,956
Intangible amortization expense 1,870,775 2,663,825
Acquisition expenses 31,190 417,774
Total operating expenses 31,521,253 27,065,880
Income from operations 21,946,267 17,965,312
Other income (expense):    
Other, net (415,297) 158,528
Interest expense (14,661,959) (7,532,887)
Income tax (expense) benefit (144,596) (323,434)
Net income 6,724,415 10,267,519
Self Storage | Self Storage Rental Revenue    
Revenues:    
Total revenues 51,276,898 43,056,872
Self Storage | Ancillary Operating Revenue    
Revenues:    
Total revenues 2,190,622 1,974,320
Self Storage | Property Operating Expenses    
Operating expenses:    
Operating expenses 16,533,452 13,105,325
Managed REIT Platform    
Revenues:    
Total revenues 3,667,745 2,952,669
Operating expenses:    
Intangible amortization expense 48,930 1,237,059
Contingent earnout adjustment   513,821
Total operating expenses 1,990,076 3,283,718
Income from operations 1,677,669 (331,049)
Other income (expense):    
Other, net 1,142,964 98,737
Net income 2,587,608 (371,606)
Managed REIT Platform | Managed REIT Platform Revenue    
Revenues:    
Total revenues 2,276,535 1,809,096
Managed REIT Platform | Reimbursable Costs from Managed REITs    
Revenues:    
Total revenues 1,391,210 1,143,573
Operating expenses:    
Operating expenses 1,391,210 1,143,573
Managed REIT Platform | Managed REIT Platform Expenses    
Operating expenses:    
Operating expenses 549,936 389,265
Managed REIT Platform | Managed REITS    
Other income (expense):    
Equity in earnings (losses) from investments (233,025) (139,294)
Corporate and other    
Operating expenses:    
General and administrative 6,536,626 5,837,647
Depreciation 186,435 229,030
Total operating expenses 6,723,061 6,066,677
Income from operations (6,723,061) (6,066,677)
Other income (expense):    
Other, net 23,311 (285,892)
Interest expense 41,938 42,897
Income tax (expense) benefit 132,624 (2,306)
Net income (7,279,423) (6,626,454)
Corporate and other | JV Properties    
Other income (expense):    
Equity in earnings (losses) from investments $ (405,111) $ (233,294)