XML 66 R56.htm IDEA: XBRL DOCUMENT v3.24.3
DEBT - Schedule of Interest Expense (Details)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
instrument
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
instrument
Sep. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2023
instrument
Dec. 20, 2022
USD ($)
Oct. 21, 2022
USD ($)
May 31, 2022
USD ($)
Debt Instrument [Line Items]                  
Interest expense, including unrealized gain or loss on interest rate swaps and net of derivative settlements $ 6,103,668 $ 2,922,918 $ 12,514,167 $ 6,761,779          
Other 100,070 68,326 209,093 306,834          
Interest Rate Swap                  
Debt Instrument [Line Items]                  
Unrealized loss (gain) on interest rate swap valuation for swaps     (2,327,893)   $ (4,105,103)        
Amortization of unrealized gain interest rate swap valuation $ 255,873 253,092 $ 762,059 756,496          
Interest Rate Swap | Non-designated                  
Debt Instrument [Line Items]                  
Number of derivative instruments | instrument 2   2     2      
Mortgage Notes Payable | Credit Agreement                  
Debt Instrument [Line Items]                  
Debt instrument, face amount $ 150,000,000   $ 150,000,000           $ 150,000,000
Credit Facility                  
Debt Instrument [Line Items]                  
Interest expense, including unrealized gain or loss on interest rate swaps and net of derivative settlements 4,565,798 4,509,026 13,586,024 10,895,933          
Amortization of deferred financing costs 214,261 214,261 642,783 642,783          
Unused commitment fees 95,833 94,525 285,416 384,164          
Credit Facility | First Interest Rate Swap                  
Debt Instrument [Line Items]                  
Unrealized loss (gain) on interest rate swap valuation for swaps   167,926   (327,824)          
Credit Facility | Second Interest Rate Swap                  
Debt Instrument [Line Items]                  
Additional notional amount 100,000,000   100,000,000            
Interest Rate Swap                  
Debt Instrument [Line Items]                  
Derivative cash settlements (1,647,754) (1,586,641) (4,953,188) (4,062,442)          
Amortization of unrealized gain interest rate swap valuation (255,873) (253,092) (762,059) (756,496)          
Interest Rate Swap | First Interest Rate Swap                  
Debt Instrument [Line Items]                  
Unrealized loss (gain) on interest rate swap valuation for swaps 1,355,228 167,926 2,163,396 (327,824)          
Interest Rate Swap | Second Interest Rate Swap                  
Debt Instrument [Line Items]                  
Unrealized loss (gain) on interest rate swap valuation for swaps 1,323,446 (710,258) 282,142 (1,697,520)          
Line of Credit | Credit Agreement                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity               $ 400,000,000  
Mortgage Notes Payable                  
Debt Instrument [Line Items]                  
Interest expense, including unrealized gain or loss on interest rate swaps and net of derivative settlements 345,424 411,610 1,038,855 1,354,642          
Amortization of deferred financing costs 7,235 $ 7,235 $ 21,705 $ 21,705          
Term Loan                  
Debt Instrument [Line Items]                  
Amortization of deferred financing costs $ 122,588                
Term Loan | Line of Credit | Credit Agreement                  
Debt Instrument [Line Items]                  
Maximum borrowing capacity             $ 100,000,000 $ 250,000,000