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Related Party Transactions (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2023 | Dec. 31, 2022
Related Party Transaction [Line Items] |  |
Summary of Related Party Costs | Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the year ended December 31, 2022 and the nine months ended September 30, 2023, as well as any related amounts payable as of December 31, 2022 and September 30, 2023.
|  | Year Ended December 31, 2022 |  |  | Nine Months Ended September 30, 2023 |
|  | Incurred |  |  | Paid |  |  | Payable |  |  | Incurred |  |  | Paid |  |  | Payable |
Expensed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transfer Agent fees |  | $ | 1,242,655 |  |  | $ | 1,260,896 |  |  | $ | 68,751 |  |  | $ | 1,101,892 |  |  | $ | 1,086,642 |  |  | $ | 84,001 |
Additional paid-in capital |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transfer Agent expenses |  |  | 100,000 |  |  |  | 100,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Stockholder servicing fee |  |  | 53,660 |  |  |  | 209,980 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  |  | — |  |  |  | — |  |  |  | 340,979 |  |  |  | — |  |  |  | — |  |  |  | 340,979 |
Total |  | $ | 1,396,315 |  |  | $ | 1,570,876 |  |  | $ | 409,730 |  |  | $ | 1,101,892 |  |  | $ | 1,086,642 |  |  | $ | 424,980 |
| Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the years ended December 31, 2022 and 2021, as well as any related amounts payable as of December 31, 2022 and 2021.
|  | Year Ended December 31, 2021 |  |  | Year Ended December 31, 2022 |
|  | Incurred |  |  | Paid |  |  | Payable |  |  | Incurred |  |  | Paid |  |  | Payable |
Expensed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transfer Agent |  | $ | 967,341 |  |  | $ | 916,349 |  |  | $ | 86,992 |  |  | $ | 1,242,655 |  |  | $ | 1,260,896 |  |  | $ | 68,751 |
Additional paid-in capital fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transfer Agent expenses |  |  | 150,000 |  |  |  | 150,000 |  |  |  | — |  |  |  | 100,000 |  |  |  | 100,000 |  |  |  | — |
Stockholder servicing fee (1) |  |  | 161,545 |  |  |  | 636,654 |  |  |  | 156,320 |  |  |  | 53,660 |  |  |  | 209,980 |  |  |  | — |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  |  | 1,155,887 |  |  |  | 814,908 |  |  |  | 340,979 |  |  |  | — |  |  |  | — |  |  |  | 340,979 |
Total |  | $ | 2,434,773 |  |  | $ | 2,517,911 |  |  | $ | 584,291 |  |  | $ | 1,396,315 |  |  | $ | 1,570,876 |  |  | $ | 409,730 |
(1) | We paid our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. The amount incurred during the years ended December 31, 2021 and 2022 represents an adjustment to the estimated stockholder servicing fee recorded at the time of the sale of the Class T Shares, based on the cessation date of such stockholder servicing fee of March 31, 2022.
Summary of Related Party Fees and Reimbursable Costs | Pursuant to the terms of the various agreements described above for the Managed REITs, the following summarizes the related party fees for the three and nine months ended September 30, 2023 and 2022:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Managed REIT Platform Revenues |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Asset Management: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SSGT II (1) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 798,395 |
SST VI |  |  | 1,062,242 |  |  |  | 401,078 |  |  |  | 2,378,167 |  |  |  | 875,618 |
SSGT III |  |  | 295,529 |  |  |  | 50,142 |  |  |  | 689,526 |  |  |  | 50,142 |
|  |  | 1,357,771 |  |  |  | 451,220 |  |  |  | 3,067,693 |  |  |  | 1,724,155 |
Property Management: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SSGT II (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 407,706 |
SST VI |  |  | 346,259 |  |  |  | 157,282 |  |  |  | 857,452 |  |  |  | 359,989 |
SSGT III |  |  | 105,209 |  |  |  | 17,952 |  |  |  | 235,704 |  |  |  | 17,952 |
JV Properties |  |  | 190,052 |  |  |  | 155,531 |  |  |  | 540,348 |  |  |  | 233,965 |
|  |  | 641,520 |  |  |  | 330,765 |  |  |  | 1,633,504 |  |  |  | 1,019,612 |
Tenant Protection Program: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SSGT II (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 250,156 |
SST VI |  |  | 262,507 |  |  |  | 121,807 |  |  |  | 575,060 |  |  |  | 267,560 |
SSGT III |  |  | 62,725 |  |  |  | 3,622 |  |  |  | 112,379 |  |  |  | 3,622 |
JV Properties |  |  | 72,123 |  |  |  | 73,696 |  |  |  | 195,632 |  |  |  | 114,101 |
|  |  | 397,355 |  |  |  | 199,125 |  |  |  | 883,071 |  |  |  | 635,439 |
Acquisition Fees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SST VI |  |  | — |  |  |  | 519,755 |  |  |  | 2,465,017 |  |  |  | 1,581,280 |
SSGT III |  |  | — |  |  |  | 456,000 |  |  |  | 642,000 |  |  |  | 456,000 |
|  |  | — |  |  |  | 975,755 |  |  |  | 3,107,017 |  |  |  | 2,037,280 |
Other Managed REIT revenue (2) |  |  | 121,207 |  |  |  | 98,359 |  |  |  | 423,808 |  |  |  | 460,968 |
Total Managed REIT Platform Revenue |  | $ | 2,517,853 |  |  | $ | 2,055,224 |  |  | $ | 9,115,093 |  |  | $ | 5,877,454 |
(1) | On June 1, 2022, we acquired SSGT II and no longer earn such fees. Additionally, the Tenant Protection Program revenue for SSGT II is now included in ancillary operating revenue in our consolidated statements of operations.
(2) | Such revenue primarily includes other property management related fees, construction management fees, development fees, and other miscellaneous revenues.
| Pursuant to the terms of the various agreements described above for the Managed REITs, the following summarizes the related party fees for the years ended December 31, 2022, 2021, and 2020:
Managed REIT Platform Revenues |  | Year Ended December 31, 2022 |  |  | Year Ended December 31, 2021 |  |  | Year Ended December 31, 2020 |
Asset Management: |  |  |  |  |  |  |  |  |  |  |  |
SST IV (1) |  | $ | — |  |  | $ | 716,278 |  |  | $ | 3,211,661 |
SSGT II (2) |  |  | 798,395 |  |  |  | 1,843,769 |  |  |  | 1,210,529 |
SST VI |  |  | 1,348,314 |  |  |  | 178,282 |  |  |  | — |
SSGT III |  |  | 145,622 |  |  |  | — |  |  |  | — |
|  |  | 2,292,331 |  |  |  | 2,738,329 |  |  |  | 4,422,190 |
Property Management: |  |  |  |  |  |  |  |  |  |  |  |
SST IV (1) |  |  | — |  |  |  | 346,179 |  |  |  | 1,429,632 |
SSGT II (2) |  |  | 407,706 |  |  |  | 709,533 |  |  |  | 371,751 |
SST VI |  |  | 551,493 |  |  |  | 99,602 |  |  |  | — |
SSGT III |  |  | 62,426 |  |  |  | — |  |  |  | — |
|  |  | 1,021,625 |  |  |  | 1,155,314 |  |  |  | 1,801,383 |
Tenant Protection Program: |  |  |  |  |  |  |  |  |  |  |  |
SST IV (1) |  |  | — |  |  |  | 285,959 |  |  |  | 893,315 |
SSGT II (2) |  |  | 250,156 |  |  |  | 636,671 |  |  |  | 257,602 |
SST VI |  |  | 396,758 |  |  |  | 158,662 |  |  |  | — |
SSGT III |  |  | 8,119 |  |  |  | — |  |  |  | — |
|  |  | 655,033 |  |  |  | 1,081,292 |  |  |  | 1,150,917 |
Acquisition Fees: |  |  |  |  |  |  |  |  |  |  |  |
SST VI |  |  | 1,846,168 |  |  |  | 649,623 |  |  |  | — |
SSGT III |  |  | 846,000 |  |  |  | — |  |  |  | — |
|  |  | 2,692,168 |  |  |  | 649,623 |  |  |  | — |
Other revenue (3) |  |  | 1,158,059 |  |  |  | 698,412 |  |  |  | 674,140 |
Total Managed REIT Platform Revenue |  | $ | 7,819,216 |  |  | $ | 6,322,970 |  |  | $ | 8,048,630 |
(1) | On March 17, 2021, we acquired SST IV and no longer earn such fees. Additionally, the Tenant Protection Program revenue for SST IV is now included in ancillary operating revenue in our consolidated statements of operations.
(2) | On June 1, 2022, we acquired SSGT II and no longer earn such fees. Additionally, the Tenant Protection Program revenue for SSGT II is now included in ancillary operating revenue in our consolidated statements of operations.
(3) | Such revenue primarily includes other property management related fees, construction management fees, development fees, and other miscellaneous revenues.
SST VI |  |
Related Party Transaction [Line Items] |  |
Summary of Related Party Carrying Value Of Investments In Advances | The following table summarizes the carrying value of our investments in and advances to SST VI as of September 30, 2023 and December 31, 2022:
Receivables: |  | As of September 30, 2023 |  |  | As of December 31, 2022 |
Receivables and advances due |  | $ | 6,681,025 |  |  | $ | 1,828,990 |
Debt: |  |  |  |  |  |  |  |
SST VI Mezzanine Loan (1) |  |  | — |  |  |  | 35,000,000 |
SST VI Note |  |  | 15,000,000 |  |  |  | — |
Equity: |  |  |  |  |  |  |  |
SST VI OP Units and SST VI SLP |  |  | 2,241,986 |  |  |  | 3,221,410 |
Total investments in and advances |  |  | $23,923,011 |  |  | $ | 40,050,400 |
(1) | As of May 2, 2023, the SST VI Mezzanine Loan was terminated.
| The following table summarizes the carrying value of our investments in and advances to SST VI as of December 31, 2022 and 2021:
|  | As of December 31, |
Receivables: |  | 2022 |  |  | 2021 |
Receivables and advances due |  | $ | 1,828,990 |  |  | $ | 801,233 |
Debt: |  |  |  |  |  |  |  |
SST VI Mezzanine Loan (1) |  |  | 35,000,000 |  |  |  | 6,800,000 |
Equity: |  |  |  |  |  |  |  |
SST VI OP Units and SLP |  |  | 3,221,410 |  |  |  | 4,200,905 |
Total investments in and advances |  | $ | 40,050,400 |  |  | $ | 11,802,138 |
(1) | As of December 31, 2022 and 2021, $20.0 million and $38.2 million, respectively was available to be drawn on the SST VI Mezzanine Loan. Subsequent to December 31, 2022, on January 30, 2023, SST VI borrowed
| an additional $15.0 million on the SST VI Mezzanine Loan. Additionally, on January 30, 2023, we invested $15.0 million in preferred limited partnership interests in SST VI OP. Please see Note 14 – Subsequent Events, of the Notes to the Consolidated Financial Statements for more information.
SSGT III OP |  |
Related Party Transaction [Line Items] |  |
Summary of Related Party Carrying Value Of Investments In Advances | The following table summarizes the carrying value of our investments in and advances to SSGT III OP as of September 30, 2023 and December 31, 2022:
Receivables: |  | As of September 30, 2023 |  |  | As of December 31, 2022 |
Receivables and advances due |  | $ | 1,523,558 |  |  | $ | 156,081 |
Debt: |  |  |  |  |  |  |  |
SSGT III Mezzanine Loan (1) |  |  | 5,000,000 |  |  |  | 17,500,000 |
Equity: |  |  |  |  |  |  |  |
SSGT III OP Units and SSGT III SLP |  |  | 3,885,160 |  |  |  | 4,664,687 |
Total investments in and advances |  | $ | 10,408,718 |  |  | $ | 22,320,768 |
(1) | As of September 30, 2023 and December 31, 2022, $9.5 million and $17.5 million was available to be drawn on the SSGT III Mezzanine Loan. On October 18, 2023, SSGT III drew an additional $8.0 million.
| The following table summarizes the carrying value our investments in and advances to SSGT III OP as of December 31, 2022 and 2021:
|  | As of December 31, |
Receivables: |  | 2022 |  |  | 2021 |
Receivables and advances due |  | $ | 156,082 |  |  | $ | — |
Debt: |  |  |  |  |  |  |  |
SSGT III Mezzanine Loan (1) |  |  | 17,500,000 |  |  |  | — |
Equity: |  |  |  |  |  |  |  |
SSGT III OP Units and SLP |  |  | 4,664,687 |  |  |  | — |
Total investments in and advances |  | $ | 22,320,769 |  |  | $ | — |
(1) | As of December 31, 2022, $17.5 million was available to be drawn on the SSGT III Mezzanine Loan. On January 26, 2023, SSGT III fully repaid the $17.5 million outstanding principal, plus accrued interest.

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