XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.25.2

Summary of Significant Accounting Policies (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Accounting Policies [Abstract] |
Schedule of Cash, Cash Equivalents and Restricted Cash |
|  |  | As of |  |  | As of |
|  |  | June 30, 2025 |  |  | June 30, 2024 |
Cash and cash equivalents |  |  | $ | 10,558,135 |  |  | $ | 18,904,793 |
Restricted cash |  |  |  | 15,973,516 |  |  |  | 18,411,015 |
Cash, cash equivalents and restricted cash at the end of the period |  |  | $ | 26,531,651 |  |  | $ | 37,315,808 |
Schedule of Recurring Assets and Liabilities Measured at Fair Value | The following table represents our assets and liabilities measured at fair value and the basis for that measurement. Our interest rate cap is the only asset or liability measured at fair value on a recurring basis. There were no non-recurring assets or liabilities for fair value measurements as of June 30, 2025 and December 31, 2024, respectively.
| June 30, 2025 |  | December 31, 2024 |
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value |
Financial Assets |  |  |  |  |  |  |  |
Interest-rate cap(1) | $ | 204,368 |  | $ | 204,368 |  | $ | 379,433 |  | $ | 379,433 |
Financial Liabilities |  |  |  |  |  |  |  |
Mortgage loans | $ | (313,944,830 | ) | $ | (314,308,261 | ) | $ | (316,516,148 | ) | $ | (315,981,358 | )
(1) The interest-rate cap agreement allows the Company to receive a variable rate of interest based upon the amount in which 1-month SOFR exceeds 3.0% on a notional amount of $26.0 million on the DoubleTree by Hilton Philadelphia Airport. The interest rate cap terminates on May 1, 2026.

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 8 -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration