v3.22.2.2
Consolidated Statement of Cash Flows (Successor Basis) - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 249,948 $ 4,279,592
Adjustments to reconcile net income to net cash from operating activities:    
Net unrealized gain on equity securities at fair value (1,685,130) (1,435,073)
Net income from equity method investments at fair value 745,562 (7,436,483)
Net realized gain on investments (737,332) (7,349,159)
Loss on disposal of fixed assets   247,303
Impairment loss on assets held for sale   9,126,461
Straight - line rent   (19,166)
Depreciation and amortization 2,193,953 4,544,343
Amortization of deferred financing costs   23,146
Accretion of market lease and other intangibles, net (35,187) (164,695)
Changes in assets and liabilities:    
Investments income, rent and other receivables (252,735) 15,038
Prepaid expenses and other assets 569,221 250,345
Deferred rent and other liabilities 285,850 115,744
Accounts payable and accrued liabilities 340,292 2,354,321
Due to related entities (703,660) 70,359
Net cash from operating activities 970,782 4,622,076
Cash flows from investing activities:    
Proceeds from sale of investments 10,506,662 33,694,869
Investments in real estate assets (28,623,637) (63,241,731)
Purchase of investments (9,303,745) (24,867,765)
Return of capital distributions 6,001,052 22,250,314
Net cash from investing activities (21,419,668) (32,164,313)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 15,125,000 34,454,689
Payments on mortgage notes payable (406,215) (3,963,948)
Dividend to stockholders (461,040) (2,824,426)
Payment of deferred financing costs   (836,802)
Proceeds from issuance of preferred stock   2,943,778
Payment of selling commissions and fees   (705,770)
Repurchase of common stock (408,818)  
Capital contributions by non-controlling interests holders 200,000 1,071,584
Distributions to non-controlling interests holders   (12,183)
Redemption of common stock   (1,425,073)
Capital pending acceptance   85,000
Net cash from financing activities 14,048,927 28,786,849
Net increase (decrease) in cash and restricted cash (6,399,959) 1,244,612
Cash and restricted cash at beginning of the year 14,153,512 7,753,553
Cash and restricted cash at end of the year 7,753,553 8,998,165
Cash at end of the year 4,305,663 7,400,163
Restricted cash at end of the year 0 1,092,816
Cash and restricted cash at end of the year classified as assets held for sale 3,447,890 505,186
Supplemental disclosure of non-cash investing, financing activities and other cash flow information    
Issuance of the Operating Partnership Class A units for the purchase of real estate assets (Note 5)   750,000
Issuance of the Operating Partnership Preferred units for the purchase of investments (Note 5)   4,650,000
Issuance of common stock for merger of FSP Satellite Place Corp. (Note 1)   27,503
Issuance of preferred stocks for merger of FSP Satellite Place Corp. (Note 1)   13,752
Fair value of subsidiary's units owned prior to the merger date   5,424,296
Issuance of common stock through reinvestment of dividends 204,277 1,187,630
Issuance of preferred stock through reinvestment of dividends   826
Cash paid for interest $ 605,018 $ 2,248,232