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Related Party Transactions (Tables) | 12 Months Ended
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Dec. 31, 2024
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | The following table presents a summary of such fees and reimbursements incurred pursuant to the Cost Sharing Agreement between Terra LLC and Terra REIT:
|  |  |  | Years Ended December 31,
|  |  |  |  |  | 2024 |  | 2023
Amounts Included in the Statements of Operations
Asset management and asset servicing fees |  |  |  |  |  | $ | 1,132,525 |  |  | $ | 1,682,414 |
Operating expense reimbursement to Adviser (1) |  |  |  |  |  | 1,083,857 |  |  | 1,606,470 |
Origination, extension and disposition fees |  |  |  |  |  | 388,097 |  |  | 602,022 |
_______________ (1)Amounts were primarily compensation for time spent supporting the Company’s day-to-day operations.
|  | December 31, 2024 |  | December 31, 2023
|  | Participating Interests |  | Principal Balance |  | Carrying Value |  | Participating Interests |  | Principal Balance |  | Carrying Value
370 Lex Part Deux, LLC (1)(2) |  | 35.0 | % |  | $ | 24,491,877 |  |  | $ | 9,238,721 |  |  | 35.0 | % |  | $ | 24,491,877 |  |  | $ | 15,257,557 |
RS JZ Driggs, LLC (2)(3) |  | 50.0 | % |  | 2,843,280 |  |  | 2,573,280 |  |  | 50.0 | % |  | 2,627,373 |  |  | 2,627,373 |
Total |  |  |  | $ | 27,335,157 |  |  | $ | 11,812,001 |  |  |  |  | $ | 27,119,250 |  |  | $ | 17,884,930 |
_______________ (1)Carrying value is net of specific allowance for loan losses of $15.5 million and $9.2 million as of December 31, 2024 and December 31, 2023, respectively. (2)The loan is held in the name of Terra REIT, the Company’s parent entity. (3)The increase in principal balance as of December 31, 2024 when compared to December 31, 2023 is primarily related to legal fees incurred in connection with the Company's ongoing litigation to seek full repayment of the loan from the sponsor. The following table summarizes the investment that was subject to a PA with investment partnership affiliated with the REIT Manager as of December 31, 2024. There was no such investment as of December 31, 2023.
|  |  |  |  |  | December 31, 2024
|  |  |  |  |  | Transfers treated as obligations under participation agreements
|  | Principal |  | Carrying Value |  | % Transferred |  | Principal |  | Carrying Value
Asano Bankers Hill, LLC (1) |  | $ | 18,567,296 |  |  | $ | 18,575,895 |  |  | 96.9 | % |  | $ | 18,000,000 |  |  | $ | 18,173,962 |
________________ (1)Participant is a certain separately managed account, an investment partnership managed by the REIT Manager.

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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