XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Redeemable Non-Controlling Interests (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Noncontrolling Interest [Abstract] |
Summary of Redeemable Non-Controlling Interests | The following table reflects the Company's Redeemable Non-Controlling Interests and Non-Controlling Interest:
|  | Brown Family Trust |  |  | Irby Prop Partners |  |  | Richard Hornstrom |  |  | LMB Owenton I LLC |  |  | Former Greenwal, L.C. and Riverside Crossing, L.C. Members |  |  | Total Redeemable Non-Controlling Interest |  | Non-Controlling Interest - Former GIP Fund 1 Members |
Balance, December 31, 2020 (As corrected, see Note 2) |  | $ | 1,200,000 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 6,998,251 |  |  | $ | 8,198,251 |  | $ | 486,180 |
Issuance of Redeemable Operating Partnership Units for property acquisition |  |  | 500,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 500,000 |  |  | - |
Distribution on Non-Controlling Interest |  |  | (37,104 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (113,722 | ) |  |  | (150,826 | ) |  | - |
Net income (loss) for the quarter (As corrected, see Note 2) |  |  | 37,104 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 113,722 |  |  |  | 150,826 |  |  | (4,646 | )
Balance, March 31, 2021 (As corrected, see Note 2) |  | $ | 1,700,000 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 6,998,251 |  |  | $ | 8,698,251 |  | $ | 481,534 |
Issuance of Redeemable Operating Partnership Units for property acquisition |  |  | - |  |  |  | 950,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 950,000 |  |  | - |
Distribution on Non-Controlling Interest |  |  | (41,125 | ) |  |  | (15,275 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (56,400 | ) |  | (2,748 | )
Net income (loss) for the quarter (As corrected, see Note 2) |  |  | 41,125 |  |  |  | 15,275 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 56,400 |  |  | (4,076 | )
Balance, June 30, 2021 (As corrected, see Note 2) |  | $ | 1,700,000 |  |  | $ | 950,000 |  |  | $ | - |  |  | $ | - |  |  | $ | 6,998,251 |  |  | $ | 9,648,251 |  | $ | 474,710 |
Balance, December 31, 2021 (As corrected, see Note 2) |  | $ | 500,000 |  |  | $ | 976,756 |  |  | $ | 659,972 |  |  | $ | - |  |  | $ | 6,998,251 |  |  | $ | 9,134,979 |  | $ | 469,712 |
Issuance of Redeemable Operating Partnership Units for property acquisition |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,109,570 |  |  |  | - |  |  |  | 1,109,570 |  |  | - |
Distribution on Non-Controlling Interest |  |  | (11,260 | ) |  |  | (19,001 | ) |  |  | (13,087 | ) |  |  | (15,269 | ) |  |  | (56,686 | ) |  |  | (115,303 | ) |  | (3,938 | )
Net income (loss) for the quarter (As corrected, see Note 2) |  |  | 11,260 |  |  |  | 28,370 |  |  |  | 19,498 |  |  |  | 15,269 |  |  |  | 56,686 |  |  |  | 131,083 |  |  | (1,120 | )
Balance, March 31, 2022 (As corrected, see Note 2) |  | $ | 500,000 |  |  | $ | 986,125 |  |  | $ | 666,383 |  |  | $ | 1,109,570 |  |  | $ | 6,998,251 |  |  | $ | 10,260,329 |  | $ | 464,654 |
Redemption of Redeemable Non-Controlling Interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (406,652 | ) |  |  | (406,652 | ) |  | - |
Distribution on Non-Controlling Interest |  |  | (11,260 | ) |  |  | (19,000 | ) |  |  | (13,086 | ) |  |  | (17,975 | ) |  |  | (57,235 | ) |  |  | (118,556 | ) |  | (3,938 | )
Net income (loss) for the quarter |  |  | 11,260 |  |  |  | 28,471 |  |  |  | 19,569 |  |  |  | 17,975 |  |  |  | 57,235 |  |  |  | 134,510 |  |  | (4,329 | )
Balance, June 30, 2022 |  | $ | 500,000 |  |  | $ | 995,596 |  |  | $ | 672,866 |  |  | $ | 1,109,570 |  |  | $ | 6,591,599 |  |  | $ | 9,869,631 |  | $ | 456,387 |

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

X
- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
Name: | us-gaap_RedeemableNoncontrollingInterestTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration