Tenant in Common Investment (Tables)

9 Months Ended

Sep. 30, 2022

Tenant In Common Investment [Abstract]

Condensed Income Statement of Tenant in Common Investment

The condensed income statements for the three and nine months ended September 30, 2022 are as follows:

	Three Months ended September 30,				Three Months ended June 30,					Three Months ended March 31,				Nine Months ended September 30,
	2022		2021		2022			2021		2022		2021		2022			2021
Total revenue	$	93,139	$	48,757	$	93,139		$	-	$	93,139	$	-	$	279,417		$	48,757
Total expenses	$	62,581	$	35,862	$	64,213		$	-	$	69,924	$	-	$	196,718		$	35,862
Operating income		30,558		12,895		28,926			-		23,215		-		82,699			12,895
Loss on debt extinguishment		-		-		(31,851	)		-		-		-		(31,851	)		-
Net income	$	30,558	$	12,895	$	(2,925	)	$	-	$	23,215	$	-	$	50,848		$	12,895
GIP, LP's Share	$	16,751	$	4,750	$	(1,462	)	$	-	$	8,552	$	-	$	23,841		$	4,750

Condensed Balance Sheets of Tenant in Common Investment

The condensed balance sheets of the tenant in common investment as of September 30, 2022 and December 31, 2021, respectively, are as follows:

	As of September 30,		As of June 30,		As of December 31,
	2022		2022		2021
Net real estate investments	$	4,532,624	$	4,562,129	$	4,621,135
Deferred rent asset		6,851		5,270		2,108
Prepaid expenses		858		1,492		522
Due from tenant-in-common		245,579		237,956		47,350
Total Assets	$	4,785,912	$	4,806,847	$	4,671,115
Accounts payable (including related party) and accrued expenses	$	262,214	$	270,343	$	19,292
Prepaid rent		29,900		-		-
Acquired lease intangible liabilities, net		37,419		39,277		42,993
Mortgage loan, net of unamortized debt issuance costs		2,087,794		2,087,466		2,677,446
Total Liabilities	$	2,417,327	$	2,397,086	$	2,739,731
GIP, LP	$	1,204,811	$	1,188,061	$	725,082
SUNNY RIDGE MHP, LLC		1,163,774		1,221,700		1,206,302
Total Tenant in Common Equity	$	2,368,585	$	2,409,761	$	1,931,384
Total Liabilities and Tenant in Common Equity	$	4,785,912	$	4,806,847	$	4,671,115