v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Investment in unconsolidated real estate ventures $ 188,553,794 $ 204,851,246
Cash and cash equivalents 8,719,611 9,070,558
Total assets 197,273,405 213,921,804
LIABILITIES AND EQUITY    
Due to affiliates $ 10,943,436 11,034,512
Due to affiliates, extensible enumeration srt:AffiliatedEntityMember  
Accounts payable, accrued expenses and other liabilities $ 1,027,116 1,270,822
Total liabilities 11,970,552 12,305,334
Non-controlling interest in consolidated real estate venture 82,588,753 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 September 30, 2025 and December 31, 2023, respectively 1 1
Additional paid-in capital 853,649 819,979
Accumulated deficit and cumulative distributions (66,925) (34,960)
Total stockholder's equity 786,959 785,245
Non-controlling interest attributable to Operating Partnership unit holders 101,927,141 111,069,857
Total equity 102,714,100 111,855,102
Total liabilities and equity 197,273,405 213,921,804
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 $ 214 $ 205