Quarterly report pursuant to Section 13 or 15(d)

Investment in Rental Real Estate, net (Tables)

v3.24.1.1.u2
Investment in Rental Real Estate, net (Tables)
3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Line Items]  
Schedule of investment in rental real estate

As of March 31, 2024 and December 31, 2023, investment in rental real estate, net consist of the following:

Three months ended March 31, 2024

    

Cost

    

Accumulated Depreciation

    

Investment in Rental Real Estate, Net

Land

$

4,556,786

$

$

4,556,786

Building

 

4,976,234

 

(61,698)

 

4,914,536

Site improvements

 

359,249

 

(11,975)

 

347,274

Tenant improvements

 

1,182,842

 

 

1,182,842

Construction in progress

 

264,871

 

 

264,871

Total

$

11,339,982

$

(73,673)

$

11,266,309

Year ended December 31, 2023 (Audited)

    

Cost

    

Accumulated Depreciation

    

Investment in Rental Real Estate, Net

Land

$

3,956,786

$

$

3,956,786

Building

 

4,935,715

 

(30,849)

4,904,866

Site improvements

 

359,249

 

(5,987)

353,262

Tenant improvements

 

1,182,842

 

1,182,843

Construction in progress

156,705

156,705

Total

$

10,591,297

$

(36,836)

$

10,554,461

Schedule of estimated annual amortization of acquired below-market leases

Years Ending December 31,

    

Amount

2024 (9 months)

$

2025

 

66,474

2026

 

66,474

2027

 

66,474

2028

 

66,474

Thereafter

 

398,841

Total

$

664,737

Schedule of estimated annual amortization of acquired in-place lease intangible

Years Ending December 31,

    

Amount

2024 (9 months)

$

2025

 

56,846

2026

 

56,846

2027

 

56,846

2028

 

56,846

Thereafter

 

341,076

Total

$

568,460

Schedule of estimated annual amortization of deferred leasing costs

Years Ending December 31,

    

Amount

2024 (9 months)

$

2025

 

38,692

2026

 

38,692

2027

 

38,692

2028

 

38,692

Thereafter

 

232,155

Total

$

386,923

Leases space to a tenant  
Property, Plant and Equipment [Line Items]  
Schedule of future minimum rents under non-cancelable operating leases

As of March 31, 2024, future minimum rents under non-cancelable operating leases were as follows:

Years Ending December 31,

    

Amount

2024 (9 months)

$

2025

 

2026

 

1,039,922

2027

 

1,268,704

2028

 

1,294,078

Thereafter

 

10,061,513

Total

$

13,664,217