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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 6,311,954 $ 17,282,581
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30,403,589 31,306,949
Change in deferred tax liability (185,138) (799,123)
Accretion of fair market value adjustment of secured debt 6,459 (42,198)
Amortization of debt issuance costs 1,364,717 1,245,315
Equity based compensation expense 2,619,348 2,117,254
Non-cash adjustment from equity method investments in JV Properties 940,878 449,277
Non-cash adjustment from equity method investments in Managed REITs 871,000 311,811
Accretion of financing fee revenues (459,574) 0
Unrealized foreign currency and derivative (gains) losses (41,726) (203,493)
Net loss on extinguishment of debt 0 2,393,475
Gain on equity interests upon acquisition 0 (16,101,237)
Write-off of equity interest and preexisting relationships upon acquisition of control 0 2,049,682
Contingent earnout adjustment 0 1,313,821
Increase (decrease) in cash from changes in assets and liabilities:    
Other assets, net 5,646,086 (68,719)
Accounts payable and accrued liabilities 243,578 (681,457)
Managed REITs receivables (2,411,293) 704,573
Due to affiliates 3,250 (17,747)
Net cash provided by operating activities 45,313,128 41,260,764
Cash flows from investing activities:    
Purchase of real estate 0 (72,512,886)
Additions to real estate (8,449,084) (4,324,446)
Insurance proceeds on insured property damage 808,722 0
Deposits on acquisition of real estate (1,208,047) (455,000)
Investments in unconsolidated JV Properties, net (6,227,167) (3,396,337)
SST VI preferred equity investment (15,000,000) 0
SST VI preferred equity investment redemption 15,000,000 0
SST VI promissory note funding (15,000,000) 0
Capital Distributions from Managed REITs 288,841  
Settlement of foreign currency hedges 3,477,389 0
Net proceeds from the sale of real estate 0 228,146
Net cash used in investing activities 18,190,654 (146,001,246)
Net cash (used in)/provided by investing activities    
Gross proceeds from issuance of non-revolver debt 0 150,000,000
Repayment of non-revolver debt (12,016,875) (86,237,235)
Scheduled principal payments on non-revolver debt (1,314,406) (1,242,449)
Proceeds from issuance of revolver debt 90,000,000 238,000,000
Repayment of revolver debt (105,000,000) (150,000,000)
Debt issuance costs 0 (2,067,282)
Debt defeasance costs 0 (2,570,604)
Offering costs (11,224) (601,346)
Redemptions of common stock (4,715,055) (1,763,301)
Restricted stock withholding for payroll taxes (246,662) 0
Distributions paid to common stockholders (23,456,251) (20,200,992)
Distributions paid to preferred stockholders (6,232,877) (6,232,877)
Distributions paid to noncontrolling interests (4,144,134) (3,360,975)
Gross proceeds from issuance of equity in other noncontrolling interests 0 1,000
Net cash provided by (used in) financing activities (67,137,484) 113,723,939
Impact of foreign exchange rate changes on cash and restricted cash 225,924 (330,847)
Change in cash, cash equivalents, and restricted cash (3,407,778) 8,652,610
Cash, cash equivalents, and restricted cash beginning of year 46,038,391 44,686,361
Cash, cash equivalents, and restricted cash end of year 42,630,613 53,338,971
Supplemental disclosures and non-cash transactions:    
Cash paid for interest 26,116,632 14,313,423
Supplemental disclosure of noncash activities:    
Redemption of common stock included in accounts payable and accrued liabilities 7,237,836 0
Issuance of shares pursuant to distribution reinvestment plan 5,974,348 5,243,398
Distributions payable 8,842,296 8,940,680
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 1,177,981 0
Conversion of A-2 Units into A-1 Units 0 15,513,821
Deposit applied to the purchase of real estate 0 190,000
Issuance of common stock and OP Units in connection with the mergers 0 168,791,577
SSGT II Merger    
Cash flows from investing activities:    
Merger, net of cash acquired 0 (65,540,723)
SST VI Mezzanine    
Cash flows from investing activities:    
Mezzanine loan funding (15,000,000) 0
Mezzanine loan repayment 50,000,000 0
SSGT III Mezzanine    
Cash flows from investing activities:    
Mezzanine loan funding (8,000,000) 0
Mezzanine loan repayment $ 17,500,000 $ 0