XML 54 R44.htm IDEA: XBRL DOCUMENT v3.23.2
UNCONSOLIDATED INVESTMENT IN REAL ESTATE PROPERTY - Summarized Financial Information (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Mar. 31, 2023
Dec. 31, 2022
Mar. 31, 2022
Dec. 31, 2021
Assets                
Total assets $ 549,409,970   $ 549,409,970     $ 454,429,919    
Liabilities:                
Total liabilities 309,316,713   309,316,713     213,395,959    
Total equity 240,093,257 $ 237,135,718 240,093,257 $ 237,135,718 $ 233,915,941 241,033,960 $ 240,036,609 $ 222,429,892
Total liabilities and equity 549,409,970   549,409,970     454,429,919    
Expenses:                
Net income (loss) 4,629,953 2,390,344 51,032 (9,682,820)        
The TIC Interest                
Assets                
Real estate investments, net 29,042,413   29,042,413     29,294,081    
Cash and cash equivalents 679,755   679,755     300,405    
Other assets 1,370   1,370     43,159    
Total assets 29,723,538   29,723,538     29,637,645    
Liabilities:                
Mortgage note payable, net 12,790,723   12,790,723     12,936,929    
Below-market lease, net 2,441,006   2,441,006     2,514,199    
Other liabilities 722,937   722,937     424,662    
Total liabilities 15,954,666   15,954,666     15,875,790    
Total equity 13,768,872   13,768,872     13,761,855    
Total liabilities and equity 29,723,538   29,723,538     $ 29,637,645    
Total revenues 677,049 676,780 1,343,195 1,391,758        
Expenses:                
Depreciation and amortization 255,906 261,956 522,958 523,912        
Interest expense 131,938 134,968 263,263 269,262        
Other expenses 189,118 187,890 378,847 375,324        
Total expenses 576,962 584,814 1,165,068 1,168,498        
Net income (loss) $ 100,087 $ 91,966 $ 178,127 $ 223,260