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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 2,032,600 $ 3,269,459
Adjustments to reconcile net [income (loss)] to net cash provided by operating activities:    
Depreciation and amortization 15,191,976 15,008,869
Change in deferred tax liability 120,287 241,588
Accretion of fair market value adjustment of secured debt 3,230 (34,642)
Amortization of debt issuance costs 710,351 594,521
Equity based compensation expense 1,106,163 1,171,940
Contingent earnout adjustment 0 513,821
Non cash adjustment from equity method investments in JV Properties 405,111 258,718
Non cash adjustment from equity method investments in Managed REITs 423,237 143,834
Accretion of financing fee revenues (63,177) (17,000)
Unrealized foreign currency and derivative (gains) losses 406,298 (159,358)
Increase (decrease) in cash from changes in assets and liabilities:    
Other assets, net 645,445 (1,794,330)
Accounts payable and accrued liabilities (2,471,540) (2,136,923)
Managed REITs receivables (2,628,287) (1,436,953)
Due to affiliates 12,250 (42,241)
Net cash provided by operating activities 15,893,944 15,581,303
Cash flows from investing activities:    
Purchase of real estate 0 (18,816,115)
Additions to real estate (4,256,788) (1,373,376)
Deposits on acquisition of real estate (939,994) (1,188,410)
Investments in unconsolidated JV Properties, net (3,162,306) (213,893)
SST VI Mezzanine loan funding (15,000,000) 0
SST VI Preferred equity investment (15,000,000) 0
SSGT III Mezzanine Loan repayment 17,500,000 0
Net proceeds from the sale of real estate 0 228,146
Net cash used in investing activities (20,859,088) (21,363,648)
Cash flows from financing activities:    
Proceeds from issuance of revolver debt 60,000,000 19,000,000
Repayment of revolver debt (35,000,000) 0
Repayment of non-revolver debt (12,016,875) 0
Scheduled principal payments on non-revolver debt (670,707) (628,984)
Debt issuance costs 0 (2,050)
Offering costs 0 (156,500)
Redemption of common stock 0 (1,751,436)
Restricted stock withholding for payroll taxes (211,972) 0
Gross proceeds from issuance of equity in other non controlling interests 0 1,000
Distributions paid to preferred stockholders (3,150,685) (3,150,685)
Distributions paid to common stockholders (14,684,560) (7,180,866)
Distributions paid to noncontrolling interest in our OP (2,005,649) (1,597,751)
Net Cash Provided by (Used in) Financing Activities (7,740,448) 4,532,728
Impact of foreign exchange rate changes on cash and restricted cash 54,682 55,024
Change in cash, cash equivalents, and restricted cash (12,650,910) (1,194,593)
Cash, cash equivalents, and restricted cash beginning of period 46,038,391 44,686,361
Cash, cash equivalents, and restricted cash end of period 33,387,481 43,491,768
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 11,384,685 7,225,122
Supplemental disclosure of noncash activities:    
Redemption of common stock included in accounts payableand accrued liabilities 4,715,055 0
Issuance of shares pursuant to distribution reinvestment plan 0 5,243,398
Distributions payable 8,984,429 8,248,313
Conversion of A-2 Units into A-1 Units 0 15,513,821
Deposits applied to the purchase of real estate 0 190,000
Earnest deposits on acquisitions assigned to the Managed REITs, amounts reclassified to Managed REITs receivables 1,082,916 0
Real estate and construction in process included in accounts payable and accrued liabilities $ 202,020 $ 0