v3.26.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues:    
Rental revenues $ 79,408,992 $ 73,128,546
Preferred return income   811,069
Income from mezzanine loan investment   865,154
Other property operating revenues 18,446,272 20,732,821
Total revenues 97,855,264 95,537,590
Operating expenses:    
General and administrative expenses 720,578 307,206
Depreciation and amortization 35,844,677 34,456,767
Management fees 6,035,627 6,083,506
Property operating expenses 36,551,026 37,964,357
Total operating expenses 79,151,908 78,811,836
Other income (expense):    
Income/(loss) from investments in real estate-related assets (26,149) 136,667
Interest income 918,664 1,080,927
Net gain from investment in debt securities, at fair value   1,340,613
Unrealized gain from investment in infrastructure fund, at fair value 472,565  
Loss from sale of investments in real estate-related assets   (3,385,131)
Loss on extinguishment of debt (333,574) (619,284)
Impairment of investment in real estate (4,825,736)  
Other income 331,117 226,516
Interest expense (28,767,002) (27,253,061)
Total other income (expense) (32,230,115) (28,472,753)
Net income (loss) (13,526,759) (11,746,999)
Net income (loss) attributable to non-controlling interest (5,114,449) (2,615,346)
Net income (loss) attributable to common stockholders $ (8,412,310) $ (9,131,653)
Weighted average shares outstanding, basic 12,067,573 13,735,252
Weighted average shares outstanding,diluted 12,067,573 13,735,252
Net income (loss) per common share - basic $ (0.7) $ (0.66)
Net income (loss) per common share - diluted $ (0.7) $ (0.66)