​

Three Months Ended June 30, 

​

Six Months Ended June 30, 

​

​

​

2025

​

2024

​

2025

​

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Rental revenues

​

$

1,396,519

​

$

1,029,958

​

$

2,732,369

​

$

2,025,931

​

Rental operating and other expenses

​

(299,744)

​

(617,916)

​

(1,279,220)

​

(973,238)

​

Management fees payable to affiliate

​

(174,706)

​

(243,262)

​

(349,034)

​

(298,379)

​

Depreciation and amortization

​

(2,505,441)

​

(2,075,510)

​

(4,985,244)

​

(3,810,336)

​

Interest expense

​

​

(576,758)

​

​

—

​

​

(1,159,208)

​

​

—

​

Net loss of Datacom Joint Venture

​

$

(2,160,130)

​

$

(1,906,730)

​

$

(5,040,337)

​

$

(3,056,022)

​

The Company’s allocated loss from Datacom Joint Venture

​

$

(933,030)

​

$

(802,601)

​

$

(2,372,646)

​

$

(1,386,435)

​

​

June 30, 2025

December 31, 2024

​

Assets

​

​

​

​

​

​

​

Property and equipment, net

​

$

50,235,739

​

$

51,256,072

​

Intangible assets, net

​

58,352,592

​

61,570,267

​

Other assets, net

​

23,071,871

​

12,972,693

​

Total assets

​

$

131,660,202

​

$

125,799,032

​

Liabilities and members’ capital

​

​

​

Accounts payable and accrued liabilities

​

$

580,871

​

$

781,914

​

Due to affiliates

​

333,678

​

193,014

​

Acquisition, asset and property management fees payable

​

992,339

​

753,555

​

Loan payable, net

​

43,000,695

​

32,375,896

​

Other liabilities, net

​

13,885,633

​

13,780,190

​

Members’ capital

​

72,866,986

​

77,914,463

​

Total liabilities and members’ capital

​

$

131,660,202

​

$

125,799,032

​

The Company’s investment in Datacom Joint Venture

​

$

37,750,140

​

$

40,122,786

​