v3.25.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Investment in unconsolidated real estate ventures $ 195,906,466 $ 204,851,246
Cash and cash equivalents 10,069,654 9,070,558
Total assets 205,976,120 213,921,804
LIABILITIES AND EQUITY    
Accounts payable, accrued expenses and other liabilities 1,482,323 1,270,822
Total liabilities 12,366,439 12,305,334
Non-controlling interest in consolidated real estate venture 86,695,233 89,761,368
Equity    
Preferred stock, $0.01 par value per share; 100,000,000 shares authorized; 125 and no shares issued and outstanding as of June 30, 2025 and December 31, 2023, respectively 1 1
Additional paid-in capital 836,731 819,979
Accumulated deficit and cumulative distributions (51,731) (34,960)
Total stockholder's equity 785,230 785,245
Non-controlling interest attributable to Operating Partnership unit holders 106,129,218 111,069,857
Total equity 106,914,448 111,855,102
Total liabilities and equity 205,976,120 213,921,804
Affiliates    
LIABILITIES AND EQUITY    
Due to affiliates $ 10,884,116 $ 11,034,512
Due to affiliates, extensible enumeration Affiliates Affiliates
Class T common stock    
Equity    
Common stock $ 5 $ 5
Class S common stock    
Equity    
Common stock 5 5
Class D common stock    
Equity    
Common stock 5 5
Class I common stock    
Equity    
Common stock 5 5
Class E Common stock    
Equity    
Common stock $ 209 $ 205