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Related Party Transactions (Tables)
 12 Months Ended
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,
20242023
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 fees388,097 602,022 
_______________
(1)Amounts were primarily compensation for time spent supporting the Company’s day-to-day operations.
December 31, 2024December 31, 2023
Participating InterestsPrincipal BalanceCarrying Value Participating InterestsPrincipal BalanceCarrying 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 
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(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
 PrincipalCarrying Value% TransferredPrincipalCarrying 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.