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Real Estate Facilities - Summary of Purchase Price Allocations for Acquisitions (Detail)
6 Months Ended
Jun. 30, 2023
USD ($)
Business Acquisition [Line Items]  
Real Estate Assets $ 248,841,711
Intangibles 4,508,162
Total 253,349,873 [1]
Revenue 870,490 [2]
Property Operating Income/(Loss) $ 150,526 [2],[3]
AB | Edmonton  
Business Acquisition [Line Items]  
Acquisition Date Jan. 31, 2023
Real Estate Assets $ 11,198,071
Intangibles 140,100
Total 11,338,171 [1]
Revenue 147,184 [2]
Property Operating Income/(Loss) $ 2,310 [2],[3]
ONT | North York  
Business Acquisition [Line Items]  
Acquisition Date Jan. 31, 2023
Real Estate Assets $ 39,306,884
Intangibles 543,186
Total 39,850,070 [1]
Revenue 439,720 [2]
Property Operating Income/(Loss) $ 101,722 [2],[3]
ONT | Etobicoke land  
Business Acquisition [Line Items]  
Acquisition Date Mar. 27, 2023 [4]
Real Estate Assets $ 1,749,931 [4]
Total $ 1,749,931 [1],[4]
ONT | Mississauga  
Business Acquisition [Line Items]  
Acquisition Date Jun. 19, 2023
Real Estate Assets $ 31,146,956
Intangibles 1,016,426
Total 32,163,382 [1]
Revenue 62,738 [2]
Property Operating Income/(Loss) $ 38,744 [2],[3]
ONT | Mississauga II  
Business Acquisition [Line Items]  
Acquisition Date Jun. 19, 2023
Real Estate Assets $ 35,700,426
Intangibles 227,843
Total 35,928,269 [1]
Revenue 13,820 [2]
Property Operating Income/(Loss) $ (17,583) [2],[3]
ONT | Burlington II  
Business Acquisition [Line Items]  
Acquisition Date Jun. 19, 2023
Real Estate Assets $ 18,900,250
Intangibles 314,063
Total 19,214,313 [1]
Revenue 19,258 [2]
Property Operating Income/(Loss) $ (3,930) [2],[3]
ONT | Toronto  
Business Acquisition [Line Items]  
Acquisition Date Jun. 19, 2023
Real Estate Assets $ 38,989,580
Intangibles 987,462
Total 39,977,042 [1]
Revenue 58,474 [2]
Property Operating Income/(Loss) $ 33,752 [2],[3]
ONT | Hamilton  
Business Acquisition [Line Items]  
Acquisition Date Jun. 19, 2023
Real Estate Assets $ 9,268,382
Intangibles 305,678
Total 9,574,060 [1]
Revenue 21,347 [2]
Property Operating Income/(Loss) $ (3,949) [2],[3]
ONT | Woodbridge  
Business Acquisition [Line Items]  
Acquisition Date Jun. 19, 2023
Real Estate Assets $ 28,276,612
Intangibles 749,364
Total 29,025,976 [1]
Revenue 50,702 [2]
Property Operating Income/(Loss) $ 27,092 [2],[3]
FL | Bradenton land  
Business Acquisition [Line Items]  
Acquisition Date Feb. 16, 2023 [5]
Real Estate Assets $ 1,390,987 [5]
Total $ 1,390,987 [1],[5]
BC | Vancouver  
Business Acquisition [Line Items]  
Acquisition Date May 04, 2023
Real Estate Assets $ 32,913,632
Intangibles 224,040
Total 33,137,672 [1]
Revenue 57,247 [2]
Property Operating Income/(Loss) $ (27,632) [2],[3]
[1] The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid for the transaction, including capitalized acquisition costs.
[2] The operating results of the facilities acquired above have been included in our consolidated statements of operations since their respective acquisition date.
[3] Property operating income/(loss) excludes corporate general and administrative expenses, asset management fees, depreciation, amortization, and acquisition expenses.
[4] The Etobicoke land is an undeveloped parcel of land in Etobicoke, Ontario Canada. We intend to develop the Etobicoke land into a self storage facility. Estimated development costs are approximately CAD $20 million, which we expect to fund with a combination of net proceeds from our Primary Offering and/or potential future debt financing.
[5] The Bradenton land is an undeveloped parcel of land adjacent to our property in Bradenton, Florida. We intend to expand our current self storage facility on the Bradenton land. Estimated development costs are approximately $5 million, which we expect to fund with a combination of net proceeds from our Primary Offering and/or potential future debt financing.