v3.25.1
Segment Reporting (Tables)
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Reportable Business Segments

Three Months Ended March 31, 2025

 

   Property Investment Portfolio   Real Estate Services   Corporate and Unallocated   Consolidated 
Net revenues  $760,892   $213,660   $
-
   $974,552 
                     
Operating expenses (excluding depreciation and amortization)   188,101    19,667    249,505    457,273 
Depreciation and amortization   87,811    
-
    697    88,508 
Income (loss) from operations   484,980    193,993    (250,202)   428,771 
Interest expense   (164,541)   
-
    (30,000)   (194,541)
Other income   
-
    
-
    18    18 
Loss from derivative – interest rate swap   (88,390)   
-
    
-
    (88,390)
Income (loss) before provision for income taxes   232,049    193,993    (280,184)   145,858 
Provision for income taxes   
-
    
-
    
-
    
-
 
Net income (loss)  $232,049   $193,993   $(280,184)  $145,858 

 

Three Months Ended March 31, 2024

 

   Property Investment Portfolio   Real Estate Services   Corporate and Unallocated   Consolidated 
Net revenues  $ 691,292   $ 145,760   $
-
   $ 837,052 
                 
Operating expenses (excluding depreciation and amortization)   191,945    169,366    257,185    618,496 
Depreciation and amortization   88,086    
-
    1,561    89,647 
Income (loss) from operations   411,261    (23,606)   (258,746)   128,909 
Interest expense   (128,039)   
-
    (30,000)   (158,039)
Income from derivative – interest rate swap   125,603    
-
    
-
    125,603 
Income (loss) before provision for income taxes   408,825    (23,606)   (288,746)   96,473 
Provision for income taxes   
-
    
-
    
-
    
-
 
Net income (loss)  $408,825   $(23,606)  $(288,746)  $96,473 
Schedule of Assets by Segment
   March 31,
2025
   December 31,
2024
 
Total assets by segment on March 31, 2025 and December 31, 2024 was as follows:        
Property investment portfolio  $15,509,896   $15,546,075 
Real estate services   71,211    121,139 
Corporate and unallocated   1,035,242    514,925 
   $16,616,349   $16,182,139